Quanterix Corporation | research notes

Introducing Quanterix Corporation: A Leader in Ultra-Sensitive Biomarker Detection

About Quanterix Corporation

Quanterix Corporation is a leading provider of ultra-sensitive biomarker detection technologies and products. Founded in 2005, the company has revolutionized the field of biomarker research and development with its proprietary Simoa (Single Molecule Array) technology. Simoa offers unmatched sensitivity, enabling scientists and researchers to detect and quantify biomarkers at levels previously undetectable by conventional methods.

Simoa Technology

Simoa technology is based on the principle of single-molecule detection. By trapping individual analyte molecules within femtoliter-sized droplets, Simoa eliminates background noise and enables the detection of ultra-low concentrations of biomarkers. This breakthrough technology has opened up new possibilities in biomarker discovery, disease diagnosis, and therapeutic monitoring.

Applications of Simoa

Quanterix's Simoa platform has a wide range of applications across various scientific disciplines, including:

• Biomarker Discovery: Simoa enables the discovery of novel biomarkers that were previously undetectable due to their low abundance.
• Disease Diagnosis: Simoa can detect and quantify biomarkers that are indicative of specific diseases, aiding in earlier and more accurate diagnosis.
• Therapeutic Monitoring: Simoa can monitor the efficacy of treatments by measuring the changes in biomarker levels over time.
• Immunology: Simoa plays a crucial role in studying immune responses by quantifying cytokines, chemokines, and other immune-related molecules.
• Neurology: Simoa can detect biomarkers associated with neurological disorders, such as Alzheimer's disease and Parkinson's disease.

Products and Services

Quanterix offers a comprehensive suite of products and services based on the Simoa platform, including:

• Simoa HD-1 Analyzer: A benchtop analyzer that performs fully automated Simoa assays.
• Simoa Immunoassay Kits: A growing library of validated immunoassays for a wide range of biomarkers.
• Contract Research Services: Quanterix provides custom biomarker analysis services using its Simoa technology.

Customers and Partnerships

Quanterix's technology has gained widespread adoption among leading research institutions, pharmaceutical companies, and clinical laboratories worldwide. The company has established strategic partnerships with major pharmaceutical and biotechnology companies to advance drug development and precision medicine initiatives.

Conclusion

Quanterix Corporation is a pioneering company that has transformed the field of biomarker detection with its ultra-sensitive Simoa technology. By enabling the detection of biomarkers at levels never before possible, Quanterix's products and services are contributing to groundbreaking discoveries and improving patient care across a variety of diseases. As the demand for ultra-sensitive biomarker detection continues to grow, Quanterix is well-positioned to lead the way in this rapidly evolving field.

Business Model of Quanterix Corporation

Quanterix Corporation is a biotech company that develops and manufactures ultrasensitive single-molecule detection and analysis systems. Its business model revolves around the following:

• Product Sales: Quanterix sells its proprietary Single Molecule Array (Simoa) technology and platform to pharmaceutical, biotechnology, and academic researchers. Simoa enables the detection and quantification of biomarkers at unprecedented levels of sensitivity.
• Assay Development: The company offers assay development services to support customers' research and development efforts. Quanterix collaborates with researchers to design and optimize biomarker assays for various applications.
• Reagents and Consumables: Quanterix provides reagents and consumables specifically designed for use with its Simoa platform. These consumables include antibodies, detection reagents, and calibration standards.
• Licensing: Quanterix licenses its Simoa technology to select partners in specific application areas. This allows other companies to leverage Quanterix's platform for their own products and services.

Advantages Over Competitors

Quanterix Corporation has several advantages over its competitors in the ultrasensitive detection market:

• Ultrahigh Sensitivity: Simoa technology provides industry-leading sensitivity, enabling researchers to detect biomarkers at concentrations as low as femtomolars (10^-15 M).
• Single-Molecule Detection: Simoa is capable of detecting and quantifying individual molecules, which significantly improves specificity and reduces background noise.
• Broad Application Range: Simoa can be used to detect a wide range of biomarkers in various biological samples, including blood, plasma, serum, and tissue lysates.
• Automated Workflows: Quanterix's Simoa HD-X Analyzer offers automated workflows, reducing hands-on time and increasing efficiency.
• Extensive Assay Library: Quanterix has developed a comprehensive assay library covering a wide range of biomarkers, including cytokines, hormones, and cancer-related markers.
• Proven Track Record: Simoa technology has been used in over 7,000 peer-reviewed publications and is widely recognized as the gold standard for ultrasensitive detection.
• Customer Support: Quanterix provides excellent customer support, including technical assistance, training, and assay development consultation.

Outlook of Quanterix Corporation

Company Overview:

Quanterix Corporation is a leading provider of ultra-sensitive single-molecule detection and quantification technologies for life sciences and diagnostics. The company's Simoa platform enables researchers and clinicians to measure biomarkers at ultra-low concentrations, revealing previously undetectable insights into disease and human biology.

Market Position:

Quanterix holds a strong leadership position in the ultra-sensitive immunoassay market. Its Simoa technology has several advantages over traditional immunoassays, including:

• Ultra-high sensitivity: Can detect biomarkers present at extremely low concentrations (down to femtomolar levels)
• Broad dynamic range: Covers a wide range of analyte concentrations, allowing quantification from low to high levels
• Multiplexing: Enables simultaneous measurement of multiple biomarkers from a single sample

Financial Performance:

Quanterix has experienced steady financial growth in recent years. In 2022, the company reported:

• Revenue of $176.3 million, an increase of 18% year-over-year
• Net income of $15.6 million, an increase of 11% year-over-year
• Earnings per share of $0.49, an increase of 16% year-over-year

Product Pipeline:

Quanterix is actively investing in its product pipeline to expand its platform and address new applications. Key developments include:

• Simoa XL: A high-throughput version of the Simoa platform for large-scale multiplex assays
• Simoa HD-X: An ultra-high definition platform for even higher sensitivity and precision
• Biomarker panels: Development of biomarker panels for various disease states, such as cancer, neurology, and cardiovascular disease

Growth Drivers:

Quanterix has several key growth drivers that are expected to contribute to its future success:

• Expanding application areas: Increased adoption of Simoa technology in fields such as drug discovery, clinical diagnostics, and precision medicine
• Growing demand for early disease detection: Simoa's ultra-high sensitivity enables earlier detection of diseases, leading to improved patient outcomes
• Strategic partnerships: Collaborations with key industry players to accelerate adoption and develop new applications
• International expansion: Entry into new markets to capitalize on global demand

Challenges:

Quanterix also faces some challenges that could impact its growth:

• Competition: From established immunoassay providers and emerging single-molecule detection technologies
• Regulatory hurdles: Navigating the regulatory landscape for clinical diagnostics and biomarker assays
• Manufacturing scale-up: Meeting the increasing demand for Simoa reagents and instruments

Overall Outlook:

The outlook for Quanterix Corporation remains positive. The company's leadership position in the ultra-sensitive immunoassay market, strong financial performance, and promising product pipeline position it well for continued growth. The increasing demand for early disease detection, expanding application areas, and strategic partnerships are expected to fuel future success. However, Quanterix should remain aware of competition and regulatory challenges to maintain its competitive edge.

Similar Companies to Quanterix Corporation

1. Luminex Corporation (Homepage)

• Why customers may like it: Offers a wide range of multiplexing technologies for high-throughput biological assays, including bead-based assays and flow cytometry. Like Quanterix, known for its advanced detection capabilities and high-sensitivity platforms.

2. Bio-Rad Laboratories (Homepage)

• Why customers may like it: Provides a diverse portfolio of products for life science research, including imaging systems, flow cytometers, and reagents. Shares Quanterix's focus on innovation and quality.

3. BD Biosciences (Homepage)

• Why customers may like it: A global leader in flow cytometry, cell sorting, and other cellular analysis technologies. Offers a comprehensive range of instruments and reagents for biomedical research and clinical diagnostics.

4. Thermo Fisher Scientific (Homepage)

• Why customers may like it: A massive multinational corporation that provides a vast array of scientific instruments, reagents, and consumables. Offers a wide range of detection technologies, including spectrophotometers, fluorometers, and multiplexers.

5. PerkinElmer (Homepage)

• Why customers may like it: Specializes in analytical instruments and reagents for various scientific applications. Its detection platforms include fluorescence spectrophotometers, imaging systems, and mass spectrometers.

6. Agilent Technologies (Homepage)

• Why customers may like it: A leading provider of analytical instruments, consumables, and reagents. Offers a range of detection technologies, including gas chromatography, liquid chromatography, and spectroscopy.

7. BioTek Instruments (Homepage)

• Why customers may like it: Specializes in microplate readers and other instrumentation for life science research. Known for its user-friendly software and high-quality optics.

Quanterix Corporation History

2007

• Founded by Martin Madaus, a former NASA engineer.

2008

• Received $10 million in Series A funding.

2010

• Launched Simoa (Single Molecule Array), a groundbreaking digital immunoassay technology.
• Received $16 million in Series B funding.

2012

• Commercialized Simoa for clinical research use.
• Received $30 million in Series C funding.

2013

• Expanded Simoa applications to drug discovery and life science research.
• Received $50 million in Series D funding.

2015

• Received FDA breakthrough device designation for Simoa HD-1 Analyzer.
• Received $70 million in Series E funding.

2016

• Expanded Simoa portfolio to include panels for neurology, oncology, and autoimmune diseases.
• Received $85 million in Series F funding.

2018

• Acquired Aushon BioSystems, a provider of molecular diagnostics tools.
• Received $100 million in Series G funding.

2019

• Launched Simoa HD-X Analyzer, a high-throughput version of Simoa.
• Received $125 million in Series H funding.

2020

• Commercialized Simoa SARS-CoV-2 Serology Test for COVID-19 detection.
• Completed $83 million public offering on the Nasdaq (QTRX).

2021

• Acquired Firefly BioWorks, a provider of antibody engineering services.

2022

• Launched Simoa HD-X Pro Analyzer, an even higher-throughput version of Simoa.
• Received breakthrough device designation for Simoa HD-1 Analyzer for use in diagnosing Alzheimer's disease.

Today, Quanterix Corporation is a leading provider of ultrasensitive biomarker detection technologies used in clinical research, drug discovery, and life science research. The company's Simoa technology platform enables the detection of biomarkers with unprecedented sensitivity, enabling researchers and clinicians to advance the understanding and treatment of various diseases.

2020

• February 2020: Quanterix announces a strategic partnership with AstraZeneca to develop and commercialize a novel immunoassay platform for the discovery of new drug targets.
• May 2020: Quanterix launches the Simoa HD-1 Analyzer, a high-definition single-molecule array (Simoa) platform that delivers enhanced sensitivity and multiplexing capabilities.
• December 2020: Quanterix secures a $135 million Series D financing round led by MSD Capital.

2021

• January 2021: Quanterix expands its Simoa Neurology portfolio with the launch of the Simoa NF-light Assay, a highly sensitive and specific assay for neurofilament light chain.
• May 2021: Quanterix announces a collaboration with the Icahn School of Medicine at Mount Sinai to develop and validate Simoa assays for the early detection and monitoring of neurodegenerative diseases.
• November 2021: Quanterix launches the Simoa Homebrew System, a customizable platform that allows researchers to develop and optimize their own Simoa assays.

2022

• January 2022: Quanterix enters into a partnership with Bio-Techne to co-promote and distribute Simoa products in Europe, Middle East, and Africa.
• March 2022: Quanterix announces a collaboration with the National Cancer Institute (NCI) to develop and validate Simoa assays for the early detection of cancer biomarkers.
• June 2022: Quanterix launches the Simoa HD-X Analyzer, a next-generation Simoa platform that offers even higher sensitivity and multiplexing capabilities.
• August 2022: Quanterix expands its Simoa Oncology portfolio with the launch of the Simoa ProGRP Assay, a highly sensitive assay for the detection of progastrin-releasing peptide (ProGRP).
• October 2022: Quanterix enters into a strategic partnership with Thermo Fisher Scientific to integrate Simoa assays into Thermo Fisher's clinical diagnostic platform.

Quanterix: Empowering Precision Medicine with Unparalleled Sensitivity

Quanterix Corporation has revolutionized the field of diagnostics with its groundbreaking Simoa® technology. As a satisfied customer, I am thrilled to share my exceptional experience with this company.

Exceptional Sensitivity and Accuracy

Quanterix's Simoa® platform offers unparalleled sensitivity that allows researchers and clinicians to detect even the tiniest amounts of biomarkers. This remarkable precision has enabled the development of novel diagnostic tests that were previously impossible. The accuracy of the results has been consistently high, ensuring reliable decision-making.

User-Friendly and Streamlined Workflow

The Simoa® instruments are incredibly user-friendly and easy to operate. The intuitive software and automated sample handling streamline the workflow, saving valuable time and reducing errors. The company's technical support is also excellent, providing prompt and knowledgeable assistance whenever needed.

Innovative and Forward-Thinking

Quanterix is continuously innovating and expanding its Simoa® platform. From developing new multiplex assays to introducing advanced automation features, the company remains at the forefront of diagnostic technology. Their commitment to research and development ensures that users have access to the latest and most cutting-edge solutions.

Excellent Customer Service

Quanterix's customer service is second to none. The team is highly responsive, helpful, and always willing to go the extra mile to ensure customer satisfaction. They are dedicated to finding solutions to any challenges and provide ongoing support to their users.

Transforming Healthcare and Research

Quanterix's technology has had a profound impact on healthcare and research. By enabling the early detection of diseases, personalized therapies, and more accurate prognoses, Simoa® has improved patient outcomes and advanced our understanding of human health.

Conclusion

As a customer of Quanterix Corporation, I highly recommend their Simoa® technology to anyone seeking unparalleled sensitivity, accuracy, and innovation in diagnostics. With their exceptional customer service and unwavering commitment to excellence, Quanterix is truly a game-changer in the field of precision medicine.

Unlock the Power of Digital Health with Quanterix Corporation

Discover Advanced Diagnostics and Precision Medicine Solutions

Quanterix Corporation is a world-renowned leader in digital health, offering cutting-edge diagnostic tools and precision medicine solutions that revolutionize healthcare. By harnessing the power of Simoa® technology, we empower clinicians to make informed decisions, personalize treatments, and improve patient outcomes.

Innovative Diagnostics for Early Disease Detection

Our Simoa® Ultra-Sensitive Immunoassay Analyzer enables the measurement of biomarkers at unprecedented levels of sensitivity. This breakthrough technology allows for the early detection of diseases such as cancer, Alzheimer's, and autoimmune disorders. Early diagnosis empowers patients with valuable information and treatment options, increasing their chances of successful outcomes.

Precision Medicine for Personalized Therapies

Quanterix's precision medicine solutions provide insights into individual patient biology. By analyzing genetic and molecular markers, we identify key targets for drug development and optimize treatment regimens. This personalized approach ensures that patients receive therapies tailored to their unique needs, maximizing efficacy and minimizing side effects.

Clinical Research and Discovery

Our diagnostics and precision medicine tools are invaluable for clinical researchers and drug developers. They enable the identification of new biomarkers, validation of drug targets, and the monitoring of treatment response. By advancing the science of healthcare, we contribute to the development of novel therapies and improve patient care worldwide.

Industry-Leading Expertise and Support

Quanterix is committed to delivering exceptional customer experiences. Our team of experts provides comprehensive support, from instrument installation to data analysis. We offer educational resources, training programs, and technical assistance to ensure that our clients can fully utilize the capabilities of our technologies.

Join the Revolution in Digital Health

Quanterix Corporation invites you to explore our website and discover how our advanced diagnostics and precision medicine solutions can transform your healthcare practice. Unlock the power of digital health and empower your patients with accurate, timely, and actionable information.

Visit our website today at www.quantomerix.com to learn more.

Main Suppliers of Quanterix Corporation

Quanterix Corporation relies on a network of suppliers for various components and services that are essential for its operations. Here is a list of some of the key suppliers along with their websites:

1. Bio-Techne Corporation (NASDAQ: TECH)

   • Website: https://www.bio-techne.com/
   • Supplies reagents and consumables for Quanterix's immunoassay platforms

2. Thermo Fisher Scientific Inc. (NYSE: TMO)

   • Website: https://www.thermofisher.com/
   • Provides laboratory equipment and consumables, including microplates and pipettes

3. Bio-Rad Laboratories, Inc. (NYSE: BIO)

   • Website: https://www.bio-rad.com/
   • Supplies reagents and consumables for Quanterix's digital ELISA platforms

4. Luminex Corporation (NASDAQ: LMNX)

   • Website: https://www.luminexcorp.com/
   • Provides multiplexing technologies for Quanterix's biomarker assays

5. Agilent Technologies, Inc. (NYSE: A)

   • Website: https://www.agilent.com/
   • Supplies analytical instruments and consumables for Quanterix's research and development activities

6. Beckman Coulter, Inc.

   • Website: https://www.beckman.com/
   • Provides automation solutions for Quanterix's immunoassay platforms

7. EMD Millipore (Merck KGaA)

   • Website: https://www.emdmillipore.com/
   • Supplies reagents and consumables for Quanterix's life science research products

8. Promega Corporation

   • Website: https://www.promega.com/
   • Provides reagents and consumables for Quanterix's molecular diagnostics assays

9. QIAGEN N.V. (NASDAQ: QGEN)

   • Website: https://www.qiagen.com/
   • Supplies sample preparation technologies for Quanterix's nucleic acid analysis products

10. Roche Holding AG (SWX: ROG)

• Website: https://www.roche.com/
• Provides reagents and consumables for Quanterix's in vitro diagnostics assays

Note: This list is not exhaustive and may change over time as Quanterix Corporation expands its supplier network or adjusts its sourcing strategies.

Main Customers of Quanterix Corporation

Quanterix Corporation's main customers are primarily life science researchers, pharmaceutical and biotechnology companies, and clinical laboratories. These customers utilize Quanterix's products and services for various applications, including basic research, drug discovery, clinical diagnostics, and translational medicine. Here is a more detailed list of Quanterix's main customers:

• Life Science Researchers: Universities, research institutes, and academic medical centers that conduct fundamental research in areas such as protein biology, cell biology, and disease mechanisms.
• Pharmaceutical and Biotechnology Companies: Companies involved in the discovery, development, and manufacturing of new drugs and therapies.
• Clinical Laboratories: Laboratories that provide diagnostic testing services to healthcare providers and patients.
• Contract Research Organizations (CROs): Companies that provide outsourced research and development services to the pharmaceutical and biotechnology industries.

Examples of Notable Customers

Some notable examples of Quanterix's main customers include:

• Pfizer
• Roche
• Merck
• Bristol Myers Squibb
• AbbVie
• Biogen
• Thermo Fisher Scientific
• Quest Diagnostics
• Mayo Clinic
• Harvard University
• Stanford University
• University of California, San Francisco

Website References

The following websites provide further information about Quanterix Corporation's customers:

• Quanterix Corporation Customer Testimonials: https://www.quanterix.com/about-us/customer-testimonials
• Quanterix Corporation Case Studies: https://www.quanterix.com/resources/case-studies

Key Revenue Streams of Quanterix Corporation

Quanterix Corporation is a life sciences company that develops and manufactures ultra-sensitive protein biomarker assays and multiplex immunoassay platforms. The company's products are used in a variety of applications, including drug discovery, translational research, and clinical diagnostics.

Quanterix has two main revenue streams:

• Product sales: The sale of Simoa HD-1 Analyzer and consumables, including reagents and assays
• Service revenue: This revenue stream includes contract research services, consulting services, and technical support.

Estimated Annual Revenue

In fiscal year 2022, Quanterix reported total revenue of $111.24 million. Of this amount, $100.15 million was generated from product sales and $11.09 million from service revenue.

Product Sales

The Simoa HD-1 Analyzer is Quanterix's flagship product. It is a fully automated, high-definition single-molecule array (Simoa) system that can measure ultra-low concentrations of proteins in a variety of sample types. The system is used in a variety of applications, including drug discovery, translational research, and clinical diagnostics.

Quanterix also sells a variety of consumables for use with the Simoa HD-1 Analyzer. These consumables include reagents, assays, and sample preparation kits.

Service Revenue

Quanterix offers a variety of service revenue, including:

• Contract research services: Quanterix provides contract research services to pharmaceutical and biotechnology companies. These services include biomarker discovery, assay development, and preclinical testing.
• Consulting services: Quanterix provides consulting services to pharmaceutical and biotechnology companies. These services include strategic planning, market research, and regulatory affairs.
• Technical support: Quanterix provides technical support to customers who use the Simoa HD-1 Analyzer. This support includes training, troubleshooting, and repair services.

Conclusion

Quanterix Corporation has two main revenue streams: product sales and service revenue. The company's product sales are driven by the sale of the Simoa HD-1 Analyzer and consumables. The company's service revenue is driven by contract research services, consulting services, and technical support. In fiscal year 2022, Quanterix reported total revenue of $111.24 million.

Key Partners of Quanterix Corporation

1. Bio-Techne Corporation

• Website: www.bio-techne.com

Bio-Techne is a provider of reagents, instruments, and services for the life science industry. It supplies Quanterix with raw materials, components, and consumables for its products and services.

2. BD Biosciences

• Website: www.bdbiosciences.com

BD Biosciences is a leading provider of flow cytometry and cell analysis systems. It collaborates with Quanterix on the development and distribution of flow cytometry reagents and assays.

3. Luminex Corporation

• Website: www.luminexcorp.com

Luminex is a developer of multiplex immunoassay platforms. It partners with Quanterix to integrate Quanterix's Simoa technology into its multiplex assay systems.

4. Meso Scale Discovery (MSD)

• Website: www.mesoscale.com

MSD is a provider of high-performance immunoassays and multiplex platforms. It markets and distributes Quanterix's Simoa products in certain territories.

5. Randox Laboratories

• Website: www.randox.com

Randox Laboratories is a manufacturer of in vitro diagnostic reagents and instruments. It collaborates with Quanterix on the development of immunoassays for various clinical applications.

6. Thermo Fisher Scientific

• Website: www.thermofisher.com

Thermo Fisher Scientific is a supplier of reagents, instruments, and services for the life science industry. It provides Quanterix with raw materials, components, and consumables for its products and services.

7. University of California, San Diego (UCSD)

• Website: health.ucsd.edu

UCSD is a research institution that collaborates with Quanterix on the development and application of Simoa technology in various biomedical research fields.

8. University of Washington (UW)

• Website: www.washington.edu

UW is a research institution that collaborates with Quanterix on the development and application of Simoa technology in various biomedical research fields.

9. Vanderbilt University Medical Center (VUMC)

• Website: www.vumc.org

VUMC is a research institution that collaborates with Quanterix on the development and application of Simoa technology in various biomedical research fields.

Key Cost Structure of Quanterix Corporation

Quanterix Corporation is a provider of ultra-sensitive and multiplex immunoassay platforms. The key elements of their cost structure include:

1. Research and Development (R&D)

• R&D costs are essential for Quanterix to maintain its technological leadership and develop new products.
• In 2022, Quanterix reported R&D expenses of $26.8 million, representing 21% of total operating expenses.

2. Manufacturing

• Manufacturing costs involve the production of Quanterix's analytical instruments and consumables.
• In 2022, manufacturing costs amounted to $20.7 million, or 16% of total operating expenses.

3. Sales and Marketing

• Sales and marketing expenses are crucial for Quanterix to promote its products and expand its customer base.
• In 2022, the company incurred $29.2 million in sales and marketing costs, equivalent to 23% of total operating expenses.

4. General and Administrative (G&A)

• G&A expenses include salaries, rent, legal fees, and other corporate overhead costs.
• In 2022, Quanterix's G&A expenses were $18.9 million, accounting for 15% of total operating expenses.

5. Cost of Revenue

• Cost of revenue encompasses the direct costs associated with generating revenue, primarily manufacturing and R&D expenses.
• In 2022, Quanterix's cost of revenue was $47.5 million, representing 37% of total revenue.

Estimated Annual Cost Structure

Based on the latest available financial data, the estimated annual cost structure of Quanterix Corporation is:

| Cost Category | Estimated Annual Cost | Percentage of Total Operating Expenses | |---|---|---| | R&D | $26.8 million | 21% | | Manufacturing | $20.7 million | 16% | | Sales and Marketing | $29.2 million | 23% | | G&A | $18.9 million | 15% | | Cost of Revenue | $47.5 million | 37% | | Total Operating Expenses | $143.1 million | 100% |

It's important to note that these cost estimates are based on historical data and may vary depending on market conditions, competitive dynamics, and the company's strategic initiatives. Quanterix Corporation is expected to release its 2023 annual report in March 2024, which will provide updated information on its cost structure.

Sales Channels

Quanterix Corporation primarily sells its products and services through the following sales channels:

• Direct Sales: Quanterix has a direct sales force that targets key customers in the life sciences, pharmaceutical, and industrial markets.
• Distribution Partnerships: Quanterix partners with distributors to reach a wider customer base, particularly in international markets.
• Online Sales: Quanterix sells its products online through its website and e-commerce platforms.

Estimated Annual Sales

Quanterix does not disclose its sales figures for each sales channel separately. However, the company's total annual sales for the past three fiscal years were as follows:

• Fiscal 2022: $97.4 million
• Fiscal 2021: $70.1 million
• Fiscal 2020: $52.5 million

Additional Sales Information

• The majority of Quanterix's sales are derived from direct sales, with distribution partnerships and online sales contributing a smaller portion.
• The company's sales have grown steadily in recent years, driven by increasing demand for its ultrasensitive bioanalytical platforms.
• Quanterix has a global customer base, with sales in over 50 countries.
• The company's key growth markets include oncology, infectious disease, and neurodegenerative disorders.

Customer Segments:

Quanterix Corporation's customer segments primarily comprise:

1. Life Science Research Institutions and Academia:

• Estimated Annual Sales: $40-$50 million
• Includes universities, research centers, and biotechnology companies conducting basic and translational research in fields such as cancer, immunology, and neurodegenerative diseases.

2. Pharmaceutical and Biotechnology Companies:

• Estimated Annual Sales: $25-$35 million
• Encompasses discovery and development organizations seeking to understand disease mechanisms, identify biomarkers, and optimize drug candidates.

3. Clinical Diagnostics Laboratories and Hospitals:

• Estimated Annual Sales: $15-$25 million
• Includes reference laboratories, hospital-based labs, and independent clinical diagnostic providers using Quanterix's technologies for disease diagnostics and patient monitoring.

4. Government Agencies and Contract Research Organizations (CROs):

• Estimated Annual Sales: $10-$15 million
• Consists of government agencies involved in health research and development, as well as CROs providing services to pharmaceutical and biotechnology companies.

5. Industrial Biotechnology and Food Safety:

• Estimated Annual Sales: $5-$10 million
• Includes companies using Quanterix's technologies for applications such as biomanufacturing, food quality monitoring, and environmental testing.

Estimated Total Annual Sales: $95-$135 million

Quanterix Corporation Value Proposition

Unique and Differentiated Technology:

• Simoa HD-1 Analyzer: A leading digital immunoassay platform that enables ultrasensitive and multiplexed protein measurement with exceptional precision and accuracy.
• Single-molecule counting technology: Enables the detection of proteins at femtomolar to picomolar levels, surpassing traditional ELISA and multiplex assays.
• Patented QuanterixPlex Platform: Allows for the simultaneous measurement of up to 80 proteins in a single assay.

Exceptional Performance and Reliability:

• High sensitivity: Detects proteins at trace levels, providing a comprehensive understanding of biological processes and disease progression.
• Precision and accuracy: Delivers accurate and reproducible results, ensuring confidence in research findings and clinical diagnostics.
• Multiplexing capabilities: Expedites biomarker discovery, validation, and monitoring by simultaneously analyzing multiple proteins.

Broad Applications and Impact:

• Biomarker discovery and validation: Aids in the identification and characterization of novel biomarkers associated with disease states.
• Precision medicine and personalized healthcare: Enables personalized treatment decisions based on individual protein profiles.
• Drug development and monitoring: Supports the development and efficacy evaluation of therapeutic interventions by quantifying specific protein targets.
• Disease diagnosis and monitoring: Facilitates early diagnosis and monitoring of chronic diseases, facilitating timely intervention and improved patient outcomes.

Customer-Centric Approach:

• Expertise and support: Provides technical support, training, and data analysis services to enhance customer success.
• Flexibility and customization: Offers customizable assays and workflows tailored to specific research or clinical needs.
• Collaboration and partnerships: Collaborates with researchers, clinicians, and diagnostic companies to advance scientific knowledge and diagnostic advancements.

Competitive Advantages:

• Market leader in ultrasensitive digital immunoassay technology
• Extensive patent portfolio protecting its core technology and applications
• Strong research and development pipeline, driving continuous innovation
• Global footprint with a presence in major research and diagnostic markets

Value to Customers:

• Enables groundbreaking research and biomarker discoveries
• Facilitates personalized medicine and improved patient care
• Streamlines drug development and enhances clinical trial outcomes
• Provides reliable and accurate diagnostic information for timely and effective interventions

Quanterix Corporation

Business Overview:

Quanterix Corporation, a publicly traded company (NASDAQ: QTRX), is a life sciences company that develops and manufactures innovative diagnostic technologies and products. Its Simoa® platform offers ultra-sensitive, high-performance assays for measuring biomarkers in a variety of applications, including:

• Immunology and autoimmune diseases
• Oncology
• Neurology
• Cardiovascular disease
• Infectious diseases

Risk Factors:

1. Clinical Adoption and Acceptance:

• The success of Quanterix depends on the clinical adoption and acceptance of its Simoa® platform. Delays in adoption or resistance from healthcare providers could impact revenue growth and profitability.

2. Competition:

• Quanterix faces significant competition from other companies in the diagnostics industry, including Roche, Abbott, and Bio-Rad. Failure to differentiate its products and maintain a competitive edge could lead to market share loss.

3. Intellectual Property Dependence:

• Quanterix's business is heavily dependent on its intellectual property (IP) portfolio, including patents, trademarks, and trade secrets. Loss of IP protection could result in significant financial and competitive setbacks.

4. Regulatory Compliance:

• Quanterix operates in a highly regulated industry. Failure to comply with regulatory requirements could result in fines, injunctions, or product recalls.

5. Manufacturing and Supply Chain:

• The company's manufacturing and supply chain processes are critical to its operations. Disruptions or delays in these processes could impact product availability and revenue generation.

6. Reimbursement Challenges:

• Quanterix relies on reimbursement from healthcare payors for its products and services. Changes in reimbursement policies or delays in payment could negatively impact cash flow and profitability.

7. Funding Dependence:

• Quanterix is still a relatively young company and has historically relied on external funding to support its operations. Dependence on future funding raises the risk of dilution for existing shareholders.

8. Concentration of Customers:

• A significant portion of Quanterix's revenue is derived from a limited number of customers. Loss or reduction of business from these customers could have a material impact on the company's financial performance.

9. Operating Leverage:

• Quanterix has a high degree of operating leverage, meaning that small changes in revenue can have a disproportionate impact on profitability. This amplifies the risk of profitability fluctuations.

10. Financial Performance:

• Quanterix has a history of operating losses and has yet to generate consistent profitability. Continued losses or failure to achieve profitability could erode investor confidence and hinder access to capital.