Full Press Release Details
Quanterix Provides Operational and Preliminary
Financial Highlights
Expects Q4 2020 GAAP revenue of $24-26
million; Non-GAAP revenue of $20-22 million, up approximately 32% over prior Q4
Quanterix to present at J.P. Morgan Healthcare
Conference on January 13, 2021 at 3:40 pm ET
Billerica, Mass. - January
13, 2020 - Quanterix Corporation (NASDAQ: QTRX), a company digitizing biomarker analysis to advance the
science of precision health, today provided operational and preliminary financial highlights for the fourth quarter and fiscal
year ended December 31, 2020.
"While last year brought
extraordinary challenges for the world, it also amplified the critical potential of our precision health strategy to address acute
issues associated with the spread of COVID-19 virus and longer-term health concerns resulting from the infection," said Kevin
Hrusovsky, Chairman, Chief Executive Officer and President, Quanterix and Founder of Powering Precision Health (PPH).
"Our timely pivot to address the pandemic enabled us to keep our employees safe and by year-end, deliver a robust suite of
novel COVID-19 testing solutions to support the battle in 2021. Our advances in ultra-sensitive proteomics testing enable top
researchers to tackle important COVID challenges and accelerate our Neurology tools strategy with vital new additions to our assay
menu supporting both Alzheimer's and COVID-19 research and diagnostics. We enter 2021 with short and long-term growth catalysts
fueling our potential to scale our powering precision health strategy."
Operational Highlights:
Preliminary Non-Audited Financial Highlights:
estimated unaudited financial results as of and for the fourth quarter and full fiscal year ended December 31, 2020 presented
above are preliminary and are subject to completion of our quarter-end and year-end closing procedures and further financial review.
This preliminary financial information has not been audited by our independent auditing firm. Our actual results may
differ from these estimates as a result of the completion of our quarter-end and year-end closing procedures, review adjustments
and other developments that may arise between now and the time our financial results for the fourth quarter and year are finalized.
Presentation at JP Morgan Healthcare Conference
As previously announced,
Kevin Hrusovsky will give a corporate update at the 39th Annual J.P. Morgan Healthcare Conference on Wednesday,
Jan. 13, 2021 at 3:40 p.m., EST (12:40 p.m., PST). A live webcast of the session will be made available to attendees and
Replays of the webcasts will be available for a limited period
following the conference.
Non-GAAP Financial Measures
To supplement the Company's financial
revenue presented on a GAAP basis, the Company has provided information on non-GAAP revenue. Management uses this non-GAAP measure
to evaluate the Company's operating performance in a manner that allows for meaningful period-to-period comparison and analysis
of trends in its business. Management believes that this measure is important in comparing current results with prior period results
and is useful to investors and financial analysts in assessing the Company's operating performance. The non-GAAP financial
information presented here should be considered in conjunction with, and not as a substitute for, the financial information presented
in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly
comparable GAAP financial measures.
Quanterix is a company that's digitizing biomarker analysis with the goal of advancing the science of precision health.
The company's digital health solution, Simoa, has the potential to change the way in which healthcare is provided today
by giving researchers the ability to closely examine the continuum from health to disease. Quanterix' technology is designed
to enable much earlier disease detection, better prognoses and enhanced treatment methods to improve the quality of life and longevity
of the population for generations to come. The technology is currently being used for research applications in several therapeutic
areas, including oncology, neurology, cardiology, inflammation and infectious disease. The company was established in 2007 and
is located in Billerica, Massachusetts. For additional information, please visit https://www.quanterix.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Words such as "may," "will," "expect," "plan," "anticipate," "estimate,"
"intend" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances)
are intended to identify forward-looking statements. Forward-looking statements in this news release are based on Quanterix'
expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and
uncertainties. Factors that may cause Quanterix' actual results to differ from those expressed or implied in the forward-looking
statements in this press release are discussed in Quanterix' filings with the U.S. Securities and Exchange Commission,
including the "Risk Factors" sections contained therein. Except as required by law, Quanterix assumes no obligation
to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes
Staci Didner, (407) 734-7325
Investor Relations Contact: