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Quanterix Quanterix Corporation Releases Operating Results for Second Quarter of 2021 August 5 , 2021 Q2 GAAP revenue including Grant Revenue $ 25.4M ; Q2 Non - GAAP revenue $ 24.4M , an increase of 86 % over prior year ; instrument placements up 71 % TM BILLERICA , Mass .-- ( BUSINESS WIRE ) -- Aug . 5 , 2021 -- Quanterix Corporation ( NASDAQ : QTRX ) , a company digitizing biomarker analysis to advance the science of precision health , today announced financial results for the three months ending June 30 , 2021 . " The past quarter has proven to be a pivotal time for our company as we continue to make immense strides with our strategic expansion in the diagnostics space , " said Kevin Hrusovsky , Chairman and Chief Executive Officer , Quanterix . " With drug advances taking place for neurodegenerative diseases , there is a heightened focus to diagnose and detect cognitive conditions like Alzheimer's Disease as early as possible and then to monitor disease progression in the patient once a drug agent is deployed . We are a leader in this area and improving outcomes and helping advance methodologies to enhance coverage with evidence for payers will change the way disease is studied , drugs are approved and ultimately how care is delivered economically and effectively . " Second Quarter 2021 Financial Highlights Key financial results for the second quarter of 2021 are shown below : • Q2 GAAP total revenue , which includes grant revenue of $ 0.9M , was $ 25.4M versus prior year Q2 of $ 13.1M , an increase of 93 % ; • Q2 non - GAAP total revenue was $ 24.4M versus prior year Q2 of $ 13.1M , an increase of 86 % ; • Q2 GAAP product revenue was $ 18.7M versus prior year Q2 of $ 6.8M , an increase of 175 % ; • Q2 GAAP service and other revenue was $ 5.6M versus prior year Q2 of $ 6.3M , a decrease of 11 % ; • Q2 GAAP gross margin was 54.7 % versus prior year Q2 of 39.7 % , an increase of 1,500 bps ; Q2 non - GAAP gross margin was 55.1 % versus prior year Q2 of 44.1 % , an increase of 1,100 bps 1H 2021 Financial Highlights Key financial results for the first half of 2021 are shown below : • 1H GAAP total revenue , which includes grant revenue $ 3.2M , was $ 52.6M versus prior year 1H of $ 28.9M , an increase of 82 % ; • 1H non - GAAP total revenue was $ 49.3M versus prior year 1H of $ 28.9M , an increase of 71 % ; • 1H GAAP product revenue was $ 36.9M versus prior year 1H of $ 16.6M , an increase of 122 % ; • 1H GAAP service and other revenue was $ 12.1M , consistent with prior year 1H of $ 12.1M ; • 1H GAAP gross margin was 57.5 % versus prior year 1H of 41.7 % ; 1H non - GAAP gross margin was 56.8 % versus prior year 1H of 46.5 % , an increase of 1,030 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 . Second Quarter 2021 Business Highlights • Record Product Revenue of $ 18.7M for Q2 2021 , an increase of 175 % versus prior year Q2 . • FDA approval of Biogen's Aducanamab underscores potential of plasma - based neuro biomarkers in drug development and diagnostics . • Quanterix ' Simoa technology powered the largest and most diverse global investigation of the role of plasma neurofilament light ( NfL ) in dementia diagnosis , published in Nature Communications . The research marks the most robust effort to date to assess the use of NfL in blood to screen for neurodegeneration as a cause of cognitive symptoms ; differentiate among neurodegenerative disorders and distinguish psychiatric disorders ; and derive age - related concentration cutoffs that may help to maximize plasma NfL's usefulness in a clinical setting . • Delivered a virtual presentation at the Goldman Sachs 42nd Annual Global Healthcare Conference on June 10 and appeared on the June 3 episode of The Bio Report , a leading podcast that focuses on the intersection of biotechnology and business , science , and policy to discuss the implications of biomarkers on the future of drug development and diagnostics . • Hosted the webinar : Recent Advancements in Neurodegenerative Biomarkers : Progress Towards a Diagnostic Blood Test