Page 1

Quanterix Quanterix Corporation Releases Operating Results for First Quarter 2021 May 5 , 2021 TM Q1 GAAP revenue including grant revenue $ 27.2M ; Q1 non - GAAP revenue $ 24.9M , an increase of 58 % versus prior year BILLERICA , Mass .-- ( BUSINESS WIRE ) -- May 5 , 2021-- Quanterix Corporation ( NASDAQ : QTRX ) , a company helping to transform healthcare with digital protein biomarker technology enabling precision health , today announced financial results for the three months ending March 31 , 2021 . " We made productive advances on our strategic and operational priorities during the first quarter 2021 , " said Chairman , Chief Executive Officer and President , Quanterix , Kevin Hrusovsky . " The precision health ecosystem continues to catalyze interest and adoption from healthcare payors , government agencies , academia , and pharmaceutical companies as they make tangible advances in developing drug therapies for Alzheimer's , Parkinson's , Multiple Sclerosis , traumatic brain injury , COVID - 19 , infectious diseases and cancers . We are rapidly innovating our technology and expanding our assay menu with a priority focus on early detection plasma biomarkers for Alzheimer's and neuro - degeneration to keep pace with today's research demands and deliver on the promise of non - invasive biomarkers to fuel breakthroughs in diagnostics and drug development . " First Quarter 2021 Financial Highlights Key financial results for the first quarter of 2021 are shown below : • Q1 GAAP total revenue , which includes grant revenue of $ 2.3M , was $ 27.2M versus prior year Q1 of $ 15.7M ; • Q1 non - GAAP total revenue was $ 24.9M versus prior year Q1 of $ 15.7M , an increase of 58 % ; • Q1 GAAP product revenue was $ 18.2M versus prior year Q1 of $ 9.8M , an increase of 86 % ; • Q1 GAAP service and other revenue was $ 6.4M versus prior year Q1 of $ 5.8M , an increase of 11 % • Q1 GAAP gross margin was 60.1 % ; Q1 non - GAAP gross margin was 58.5 % versus prior year Q1 of 48.5 % , an increase of 1,000 bps . For additional information on the non - GAAP financial measures included in this press release , please see " Use of Non - GAAP Financial Measures " and " Reconciliation of Non - GAAP Financials " below . First Quarter Business Highlights • Received Emergency Use Authorization ( EUA ) from the U.S. Food and Drug Administration ( FDA ) for Quanterix ' Simoa® SARS - CoV - 2 Protein Antigen Test that can be run on the Simoa HD - X Analyzer®Ⓡ . • Released the SARS - CoV - 2 N Protein Antigen Advantage Assay tailored for Research Use , enabling scientists to measure viral load and immune response in a variety of sample matrices , including blood obtained by minimally invasive capillary ( finger prick ) sample . • Record Instrument placement revenue of $ 7.0M , an increase of 86 % , and consumables revenue of $ 11.3m , an increase of 86 % . • Simoa played a key role in research to detect the COVID - 19 virus in serum / plasma , dried blood microsamples ( DBS ) and saliva samples , including a Nature Communications study validating non - invasive antigen detection methods as an important complement to current PCR - based nasal and nasopharyngeal ( NP ) swab samples . • Continued to experience significant demand for phosphorylated tau at threonine 181 ( pTau181 ) assays for the study of Alzheimer's Disease ( AD ) pathology and Neuro Multiplex assays associated with many neurodegenerative diseases . • Simoa neurology assays and technologies continue to support various Alzheimer's drug development programs globally , focusing on detecting signs of precognitive impairment early in the disease cascade with blood biomarkers . • Established a joint Simoa laboratory with WuXi AppTec in China to improve access to Quanterix ' industry leading biomarker testing and development offerings across China and the APAC market . • Successfully raised approximately $ 270M in net proceeds through a follow - on offering in February , further strengthening our balance sheet with growth capital . • Participated in important industry events aimed at addressing public health challenges created by the COVID - 19 pandemic , including the Precision Medicine World Conference ( PMWC ) 2021 COVID - 19 Conference and the Precision Medicine Leadership Summit hosted in connection with Powering Precision Health . • Invited to discuss the Powering Precision Health movement , rebuilding public trust in science and leadership of the industry - wide proteomics revitalization disrupting healthcare on Health Care Rounds Podcast and Mendelspod . • Welcomed Laurie Olson , a seasoned industry executive and former Pfizer executive leadership team member , to our board as we continue to scale the business and capitalize on the market opportunity ahead .