NASDAQ$QTRX
Quanterix Corporation · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Quanterix's Q1 2023 results reflected a decrease in revenue, but showed improvement in gross margin and net loss.
Quanterix reported a decrease in revenue by 4% compared to Q1 2022, driven by a decline in instrument revenue, while net loss decreased by 66%. The company saw strong quarter-over-quarter improvement in gross margin and launched a new NfL LDT to expand its lab developed test menu.
- Total revenue was $28.5 million, a decrease of 4% compared to Q1 2022, driven by a decline in instrument revenue, but increased 10% from Q4 2022 due to increased consumable revenue.
- GAAP gross margin improved to 59.5% compared to 49.3% in Q1 2022 and 48.8% in Q4 2022.
- Net loss decreased by 66% to $6.1 million compared to $18.2 million in Q1 2022.
- Cash burn for Q1 was $9.1 million, leaving $329.4 million of unrestricted cash as of March 31, 2023.
Headline financials
Revenue & EPS history
Quanterix · Revenue · Quarterly
$28.5M
Revenue by segment
Quanterix · $28.1M total across 3 segments · Q1 2023
- Product Revenue$19.3M—68.7%
- Service and Other Revenue$8.58M—30.5%
- Grant Revenue$222K—0.8%
Forward guidance
Quanterix anticipates revenues to be in the range of $104 to $111 million. They expect GAAP gross margin percentage to be in the high 40s and non-GAAP gross margin percentage to be in the mid 40s. Expected cash burn for 2023 is unchanged, and they expect an approximately 10% improvement over 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-3.6%
Avg return
Earnings day
-5.0%
Avg return
5 days after
-1.1%
Avg return
30 days after
30%
10 / 33 earnings
Positive
+18.1%
Q3 2020
Best reaction
-57.3%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.3% | -15.2% | -0.6% | |
| Q4 2025 | -7.1% | -20.1% | -40.1% | |
| Q3 2025 | -2.0% | +12.1% | +47.5% | |
| Q1 2025 | -19.3% | -16.4% | +8.0% | |
| Q4 2024 | -1.8% | -0.8% | -29.3% | |
| Q3 2024 | -19.0% | -25.3% | -27.1% | |
| Q2 2024 | -13.5% | -11.7% | -5.0% | |
| Q1 2024 | -1.7% | -0.7% | -7.0% | |
| Q4 2023 | -2.8% | +20.1% | +0.3% | |
| Q3 2023 | -1.7% | -10.6% | +1.2% | |
| Q2 2023 | +11.0% | +9.5% | +15.4% | |
| Q1 2023 | +1.9% | -6.8% | +33.5% | |
| Q4 2022 | +5.9% | -1.4% | -1.6% | |
| Q3 2022 | -2.1% | +31.4% | +35.9% | |
| Q2 2022 | -57.3% | -40.1% | -45.8% | |
| Q1 2022 | -16.6% | +1.6% | -6.1% | |
| Q4 2021 | -3.1% | -11.9% | -13.5% | |
| Q3 2021 | +3.1% | -1.5% | -32.6% | |
| Q2 2021 | -5.0% | -6.7% | -6.4% | |
| Q1 2021 | +0.7% | -10.2% | +3.4% | |
| Q4 2020 | -20.8% | -18.5% | -25.7% | |
| Q3 2020 | +18.1% | +6.9% | +11.5% | |
| Q2 2020 | +8.5% | +2.6% | +1.3% | |
| Q1 2020 | +3.8% | -3.5% | -4.1% | |
| Q4 2019 | -7.0% | -20.3% | +7.8% | |
| Q3 2019 | +16.8% | +10.2% | +23.8% | |
| Q2 2019 | -5.4% | -17.5% | -17.3% | |
| Q1 2019 | -4.0% | -8.5% | +28.0% | |
| Q4 2018 | -1.1% | -2.7% | +10.3% | |
| Q3 2018 | -0.1% | -4.6% | +7.0% | |
| Q2 2018 | -1.3% | -0.5% | -0.9% | |
| Q1 2018 | +4.0% | +3.5% | -7.4% | |
| Q4 2017 | -1.2% | -8.6% | -1.7% | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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