Financial Data and Key Metrics Changes - Revenue in Q2 2020 was $13.1 million, a decrease of 3% compared to the previous year, primarily impacted by the COVID-19 pandemic [64] - Year-to-date total revenues reached $28.9 million, reflecting a 12% increase [65] - Non-GAAP gross margin for Q2 was 44.1%, down from 51.2% in the prior year, influenced by the HD-1 trade-in program and lower cost absorption due to reduced consumables revenue [66][67] Business Line Data and Key Metrics Changes - Instrument revenue was $2.8 million, consistent with the prior year despite access challenges [64] - Consumables revenue finished at $4 million, a decline of 34% compared to the previous year [65] - Services revenue increased by 33% to $6.3 million, driven by expanded Accelerator services capacity [65] Market Data and Key Metrics Changes - North America saw a growth of 27%, while Europe and Asia experienced faster growth [53] - The academic sector has been slower to recover compared to pharma, with a strong focus on COVID-related research [99] Company Strategy and Development Direction - The company aims to leverage its Simoa technology for earlier and less invasive disease detection, particularly in neurology and infectious diseases [12][19] - There is a focus on expanding into the diagnostics market, with aspirations to partner with IVD companies [24][48] - The company anticipates a long-term revenue growth target of 30% to 40%, primarily driven by research, with potential for diagnostics to enhance this growth [78][81] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovering to a strong growth trajectory in the second half of the year despite ongoing challenges from the pandemic [69] - The company is seeing positive momentum in its Accelerator services and anticipates further growth in consumables as pharma trials ramp up [94] Other Important Information - The company has secured significant contracts, including a $1 million contract with a large payer group and a feasibility study with the NIH [75][80] - The number of third-party peer-reviewed publications has approached 900, with a significant focus on neurology [49] Q&A Session Summary Question: What is the source of incremental demand for the Accelerator? - Management noted that demand is coming from both new customers and existing customers utilizing newer technologies for immune system studies and COVID-related research [72][74] Question: How does the recent progress impact long-term revenue growth targets? - The growth target remains strong, with advancements in diagnostics expected to enhance the research business, although significant revenue from diagnostics may take a year or two to materialize [77][81] Question: What is the expected recovery trajectory for the services business? - The services business is expected to continue growing, supported by large population studies and the ability to conduct testing with small sample sizes [92][93] Question: How is the academic sector expected to recover? - The academic sector is beginning to reopen, with interest in COVID-related research, and the company anticipates good instrument and consumable pull-through as labs return to normal operations [98][99]

PART I — FINANCIAL INFORMATION This section provides the unaudited condensed consolidated financial statements and management's discussion and analysis for Quanterix Corporation [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents Quanterix Corporation's unaudited condensed consolidated financial statements, including balance sheets, statements of operations, cash flows, and comprehensive notes [Unaudited Condensed Consolidated Balance Sheets](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$162.9 million**, while total liabilities rose to **$51.9 million**, leading to a decline in stockholders' equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $88,806 | $109,155 | | Total current assets | $114,238 | $132,661 | | Total assets | $162,940 | $169,951 | | **Liabilities & Stockholders' Equity** | | | | Total current liabilities | $18,897 | $19,833 | | Long term lease liabilities | $22,458 | $— | | Total liabilities | $51,906 | $41,293 | | Total stockholders' equity | $111,034 | $128,658 | | Total liabilities and stockholders' equity | $162,940 | $169,951 | [Unaudited Condensed Consolidated Statements of Operations](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2020 revenue decreased **3%** to **$13.1 million** with a wider net loss, while year-to-date revenue grew **11.5%** to **$28.9 million**, also with an increased net loss Statements of Operations Summary (in thousands, except per share data) | Metric | Q2 2020 | Q2 2019 | YTD 2020 | YTD 2019 | | :--- | :--- | :--- | :--- | :--- | | Product revenue | $6,790 | $8,776 | $16,623 | $18,322 | | Service and other revenue | $6,317 | $4,760 | $12,079 | $7,550 | | **Total revenue** | **$13,130** | **$13,536** | **$28,857** | **$25,872** | | Gross profit | $5,213 | $6,931 | $12,026 | $12,936 | | Loss from operations | $(12,201) | $(10,514) | $(23,929) | $(19,873) | | **Net loss** | **$(12,302)** | **$(10,563)** | **$(23,912)** | **$(19,968)** | | Net loss per share | $(0.43) | $(0.46) | $(0.85) | $(0.88) | [Unaudited Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to **$20.6 million**, while investing cash outflow decreased and financing cash inflow significantly dropped Cash Flow Summary (in thousands) | Activity | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | Net cash used in operating activities | $(20,600) | $(12,820) | | Net cash used in investing activities | $(1,361) | $(9,830) | | Net cash provided by financing activities | $1,476 | $50,272 | | **Net (decrease) increase in cash** | **$(20,485)** | **$27,622** | | Cash at end of period | $89,806 | $73,051 | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Detailed notes explain business operations, accounting policies, revenue recognition, the UmanDiagnostics acquisition, and the adoption of ASC 842 - The company develops and sells ultra-sensitive digital immunoassay platforms based on its proprietary "**Simoa**" technology for life sciences research and diagnostics, with key products including the **Simoa HD-X**, **SR-X**, and **SP-X** instruments[23](index=23&type=chunk)[24](index=24&type=chunk) - On January 1, 2020, the company adopted the new lease accounting standard, **ASC 842**, resulting in the recognition of operating lease Right-of-Use (ROU) assets of **$12.2 million** and operating lease liabilities of **$22.8 million** on the balance sheet[46](index=46&type=chunk)[50](index=50&type=chunk) - The acquisition of **UmanDiagnostics AB** was completed on August 1, 2019, for an aggregate purchase price of **$21.2 million**, securing a long-term supply of critical Nf-L antibodies[26](index=26&type=chunk)[122](index=122&type=chunk) Disaggregated Revenue by Geography - Six Months Ended June 30, 2020 (in thousands) | Revenue Type | North America (NA) | EMEA | Asia Pacific | Total | | :--- | :--- | :--- | :--- | :--- | | Product revenues | $7,631 | $6,336 | $2,656 | $16,623 | | Service and other revenues | $9,846 | $1,486 | $747 | $12,079 | | Collaboration and license revenue | $144 | $11 | $— | $155 | | **Total** | **$17,621** | **$7,833** | **$3,403** | **$28,857** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=47&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, attributing Q2 revenue decrease and year-to-date increase to COVID-19 impacts on product and service revenues, and details liquidity and capital resources - The **COVID-19 pandemic** has had a mixed impact on the business, negatively affecting instrument and consumables revenue but partially offset by increased demand for services from the company's Accelerator Laboratory[147](index=147&type=chunk)[148](index=148&type=chunk)[155](index=155&type=chunk) - As of June 30, 2020, the company had cash and cash equivalents of **$88.8 million**, which management believes will be sufficient to meet operating cash requirements for at least the **next 12 months**[150](index=150&type=chunk)[202](index=202&type=chunk) [Results of Operations](index=52&type=section&id=Results%20of%20Operations) Q2 2020 total revenue decreased **3%** to **$13.1 million**, while year-to-date total revenue increased **12%** to **$28.9 million**, both periods showing gross margin contraction Revenue Comparison - Q2 2020 vs Q2 2019 (in thousands) | Revenue Stream | Q2 2020 | Q2 2019 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Product revenue | $6,790 | $8,776 | $(1,986) | (23)% | | Service and other revenue | $6,317 | $4,760 | $1,557 | 33% | | **Total revenue** | **$13,130** | **$13,536** | **$(406)** | **(3)%** | Revenue Comparison - YTD 2020 vs YTD 2019 (in thousands) | Revenue Stream | YTD 2020 | YTD 2019 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Product revenue | $16,623 | $18,322 | $(1,699) | (9)% | | Service and other revenue | $12,079 | $7,550 | $4,529 | 60% | | **Total revenue** | **$28,857** | **$25,872** | **$2,985** | **12%** | - **Gross margin declined** in both the three and six-month periods of 2020 compared to 2019, primarily due to a higher proportion of instrument sales versus consumables, and amortization costs from the Uman acquisition-related inventory and intangible assets[156](index=156&type=chunk)[165](index=165&type=chunk) - **SG&A expenses decreased by $0.3 million** for Q2 2020 year-over-year, mainly because the prior-year period included **$0.9 million** in acquisition costs for Uman[159](index=159&type=chunk) [Liquidity and Capital Resources](index=56&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is primarily from equity offerings and debt, with **$112.5 million** raised in 2019 and **$20.6 million** net cash used in operations for H1 2020 - In 2019, the company raised a total of **$112.5 million** in net proceeds from two equity offerings: an "at-the-market" offering (**$48.0 million**) and an underwritten public offering (**$64.5 million**)[174](index=174&type=chunk)[175](index=175&type=chunk) Cash Flow Summary - Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2020 | 2019 | | :--- | :--- | :--- | | Net cash used in operating activities | $(20,600) | $(12,820) | | Net cash used in investing activities | $(1,361) | $(9,830) | | Net cash provided by financing activities | $1,476 | $50,272 | - The company has a loan agreement with **Hercules Capital**, with an amendment in April 2019 extending the interest-only payment period through July 1, 2021, and the maturity date to October 1, 2021[185](index=185&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=66&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to market risk disclosures have occurred since the 2019 Annual Report on Form 10-K - There were **no material changes** to the company's market risk disclosures as of June 30, 2020[212](index=212&type=chunk) [Item 4. Controls and Procedures](index=66&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes in internal control over financial reporting during the quarter - The Principal Executive Officer and Principal Financial Officer concluded that the company's disclosure controls and procedures were **effective** as of June 30, 2020[213](index=213&type=chunk) - **No changes in internal control** over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[214](index=214&type=chunk) PART II — OTHER INFORMATION This section covers legal proceedings, risk factors, and a list of exhibits filed with the quarterly report [Item 1. Legal Proceedings](index=68&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings - As of the filing date, Quanterix is **not involved in any material legal proceedings**[217](index=217&type=chunk) [Item 1A. Risk Factors](index=68&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's risk factors have occurred since the prior 2019 Annual Report and Q1 2020 Quarterly Report - **No material changes** to the company's risk factors have occurred since the filing of the Q1 2020 10-Q[218](index=218&type=chunk) [Item 6. Exhibits](index=69&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Quarterly Report on Form 10-Q, including officer certifications and XBRL data - The exhibits filed with this report include **certifications** from the Principal Executive Officer and Principal Financial Officer as required by the Sarbanes-Oxley Act of 2002, as well as **XBRL data files**[225](index=225&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001‑38319 QUANTERIX CORPORATION (Exact name of registrant as specified in its charter) Delaware 20‑8957988 (Sta ...

Part I [Business](index=5&type=section&id=Item%201.%20Business) Quanterix provides ultra-sensitive digital immunoassay platforms using Simoa technology for life sciences research, generating revenue from instruments, consumables, and lab services - The company's core offering is its proprietary Simoa technology, providing ultra-sensitive protein detection for research in neurology and oncology[18](index=18&type=chunk) - Quanterix targets a life science research market estimated at **$3 billion annually**, with potential growth to **$8 billion**, and future opportunities in diagnostics and precision health markets exceeding **$30 billion**[22](index=22&type=chunk)[23](index=23&type=chunk) - In August 2019, Quanterix acquired UmanDiagnostics AB to secure the supply of premier neurofilament light (Nf-L) antibodies for its neurology assays[33](index=33&type=chunk)[37](index=37&type=chunk) Product Portfolio Overview | Product/Service | Technology | Key Features | | :--- | :--- | :--- | | **HD-X** | Bead-based | Fully automated, high-throughput, multiplexing (up to 6-plex). Launched in H2 2019 | | **SR-X** | Bead-based | Compact benchtop, lower price point, flexible assay prep | | **SP-X** | Planar array | Benchtop, higher multiplexing capabilities (up to 10-plex), ideal for oncology/immunology | | **Consumables** | Bead & Planar | ~80 bead-based assay kits and ~100 planar array biomarkers. Homebrew kits available | | **Accelerator Lab** | Service | CLIA-certified lab providing sample testing, custom assay development. Completed over 800 projects | - Consumables revenue grew significantly from **$7.6 million in 2017** to **$25.6 million in 2019**, comprising approximately **45% of total revenue** in 2019[43](index=43&type=chunk) [Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) The company faces risks including historical losses, market acceptance of Simoa technology, reliance on single-source manufacturers, costly FDA approvals, intellectual property protection, and global event disruptions - The company has a history of financial losses, reporting a net loss of **$40.8 million in 2019** and an accumulated deficit of **$216.2 million** as of December 31, 2019[227](index=227&type=chunk) - Revenue from Nf-L related services and consumables constituted approximately **33% of total revenue** for fiscal year 2019, indicating significant concentration[250](index=250&type=chunk) - The company relies on single contract manufacturers, STRATEC for HD-X and Paramit for SR-X instruments, posing significant supply chain risk[278](index=278&type=chunk) - Future clinical diagnostic products require costly, time-consuming, and uncertain FDA clearance or approval, as current products are labeled "For Research Use Only" (RUO)[295](index=295&type=chunk)[296](index=296&type=chunk)[297](index=297&type=chunk) - The core Simoa bead-based technology is exclusively licensed from Tufts University, and losing this license would critically harm the business[342](index=342&type=chunk)[343](index=343&type=chunk) - The COVID-19 pandemic is identified as a risk potentially disrupting operations, supply chains, and customer demand[251](index=251&type=chunk) [Unresolved Staff Comments](index=73&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports no unresolved staff comments from the SEC - Not applicable[399](index=399&type=chunk) [Properties](index=73&type=section&id=Item%202.%20Properties) The company's principal facility is a **91,600 square foot** leased space in Billerica, Massachusetts, with its Uman subsidiary leasing **6,500 square feet** in Umeå, Sweden - The company leases its **91,600 square foot** headquarters in Billerica, MA, under an 11-year and five-month lease term starting April 1, 2019[400](index=400&type=chunk) - Subsidiary Uman leases approximately **6,500 square feet** in Umeå, Sweden, with leases expiring between May 2020 and February 2023[401](index=401&type=chunk) [Legal Proceedings](index=73&type=section&id=Item%203.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings - As of the filing date, Quanterix is not involved in any material legal proceedings[402](index=402&type=chunk) [Mine Safety Disclosures](index=73&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[403](index=403&type=chunk) Part II [Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=70&type=section&id=Item%205.%20Market%20For%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's common stock trades on Nasdaq under "QTRX", with **28.2 million shares outstanding** as of March 2020, and IPO proceeds of **$65.6 million** fully utilized - Common stock trades on Nasdaq under the symbol **QTRX**[406](index=406&type=chunk) - As of March 1, 2020, **28,225,653 shares** of common stock were outstanding[406](index=406&type=chunk) - Net proceeds of approximately **$65.6 million** from the 2017 IPO have been fully utilized for operating expenses, capital investments, debt payments, and the Aushon acquisition[409](index=409&type=chunk) [Selected Financial Data](index=70&type=section&id=Item%206.%20Selected%20Financial%20Data) This section summarizes five years of consolidated financial data, showing consistent revenue growth to **$56.7 million** in 2019, but increasing net losses reaching **$40.8 million**, with total assets growing to **$170.0 million** Consolidated Statement of Operations Data (in thousands) | | 2019 | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Total revenue** | $ 56,734 | $ 37,632 | $ 22,874 | $ 17,585 | $ 12,180 | | **Gross profit** | 26,836 | 17,948 | 9,987 | 7,748 | 5,715 | | **Loss from operations** | (41,600) | (31,550) | (26,005) | (21,711) | (14,523) | | **Net loss** | (40,796) | (31,536) | (27,019) | (23,173) | (15,943) | Consolidated Balance Sheet Data (in thousands) | | 2019 | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Cash and cash equivalents** | $109,155 | $ 44,429 | $ 79,682 | $ 29,671 | $ 2,323 | | **Total assets** | $169,951 | $ 67,611 | $ 91,779 | $ 37,117 | $ 7,351 | | **Total stockholders' equity (deficit)** | $128,658 | $ 41,065 | $ 65,866 | $(115,109) | $ (88,640) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=71&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) In FY2019, total revenue grew **51% to $56.7 million**, but net loss widened to **$40.8 million** due to a **55% increase in SG&A**, while liquidity remains strong with **$109.2 million** in cash, bolstered by **$112.5 million** from equity offerings Financial Performance Comparison (FY 2019 vs. FY 2018) | Metric | FY 2019 (in thousands) | FY 2018 (in thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Total Revenue | $56,734 | $37,632 | 51% | | Product Revenue | $40,491 | $23,365 | 73% | | Service & Other Revenue | $16,059 | $12,117 | 33% | | Gross Profit | $26,836 | $17,948 | 50% | | Gross Margin | 47% | 48% | -1 ppt | | R&D Expense | $16,190 | $15,805 | 2% | | SG&A Expense | $52,246 | $33,693 | 55% | | Net Loss | $(40,796) | $(31,536) | 29% | - The **55% increase in SG&A expense** in 2019 was driven by headcount additions, public company costs, a new headquarters lease, and approximately **$1.9 million** in Uman acquisition costs[469](index=469&type=chunk) - The company significantly improved its cash position in 2019, ending the year with **$109.2 million** in cash and cash equivalents, up from **$44.4 million** in 2018, primarily due to **$48.0 million** from an "at-the-market" offering and **$64.5 million** from an underwritten public offering[425](index=425&type=chunk)[486](index=486&type=chunk)[488](index=488&type=chunk) - The company has a minimum purchase commitment with its HD-X manufacturer, STRATEC, through May 2021, with potential fees up to **$9.6 million** for non-compliance based on 2019 year-end purchases[522](index=522&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=92&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company's primary market risks are foreign currency exchange rates and interest rates, impacting investment income and variable-rate debt, with no current hedging instruments - The company is exposed to foreign currency exchange risk with growing international operations, though a **10% adverse change** would not have been material as of December 31, 2019[528](index=528&type=chunk) - Interest rate risk exists for **$109.2 million** in cash and cash equivalents and **$7.7 million** in outstanding variable-rate debt, with a **10% change** in rates not expected to materially affect income or expense[530](index=530&type=chunk)[531](index=531&type=chunk) [Financial Statements and Supplementary Data](index=93&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section presents the company's audited consolidated financial statements for 2017-2019, including the independent auditor's report and detailed notes on accounting policies and business combinations - The report includes the Independent Registered Public Accounting Firm's Report, Consolidated Balance Sheets, Statements of Operations, Comprehensive Loss, Cash Flows, and Stockholders' Equity[533](index=533&type=chunk)[570](index=570&type=chunk) - The company adopted ASC 606 on January 1, 2019, using the modified retrospective method, resulting in a **$0.4 million** cumulative adjustment to the opening accumulated deficit[573](index=573&type=chunk)[664](index=664&type=chunk) - Note 15 details purchase price allocation for the Aushon (January 2018) and Uman (August 2019) acquisitions, including acquired assets, assumed liabilities, goodwill, and intangible assets[767](index=767&type=chunk)[773](index=773&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=93&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) This item is not applicable, indicating no changes in or disagreements with the company's accountants - Not applicable[534](index=534&type=chunk) [Controls and Procedures](index=93&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that disclosure controls and internal control over financial reporting were effective as of December 31, 2019, excluding the Uman acquisition as permitted - Management concluded that disclosure controls and procedures were effective as of December 31, 2019[535](index=535&type=chunk) - Management concluded that internal control over financial reporting was effective as of December 31, 2019[540](index=540&type=chunk) - The assessment of internal controls excluded the Uman acquisition, which occurred in August 2019[538](index=538&type=chunk) - As an emerging growth company, the report does not include an attestation report from the independent registered public accounting firm on internal control over financial reporting[541](index=541&type=chunk) [Other Information](index=94&type=section&id=Item%209B.%20Other%20Information) This item is not applicable - Not applicable[542](index=542&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=94&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information for this item is incorporated by reference from the company's definitive proxy statement for its 2020 Annual Meeting of Stockholders - Information is incorporated by reference from the 2020 proxy statement[544](index=544&type=chunk) [Executive Compensation](index=94&type=section&id=Item%2011.%20Executive%20Compensation) Information for this item is incorporated by reference from the company's definitive proxy statement for its 2020 Annual Meeting of Stockholders - Information is incorporated by reference from the 2020 proxy statement[545](index=545&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=94&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information for this item is incorporated by reference from the company's definitive proxy statement for its 2020 Annual Meeting of Stockholders - Information is incorporated by reference from the 2020 proxy statement[546](index=546&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=94&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information for this item is incorporated by reference from the company's definitive proxy statement for its 2020 Annual Meeting of Stockholders - Information is incorporated by reference from the 2020 proxy statement[547](index=547&type=chunk) [Principal Accountant Fees and Services](index=94&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Information for this item is incorporated by reference from the company's definitive proxy statement for its 2020 Annual Meeting of Stockholders - Information is incorporated by reference from the 2020 proxy statement[548](index=548&type=chunk) Part IV [Exhibits, Financial Statement Schedules](index=94&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists financial statements and exhibits filed with the 10-K, including the Uman acquisition agreement, corporate governance documents, financing agreements, and key manufacturing and license contracts - This section provides a list of all exhibits filed with the 10-K, including material contracts and corporate governance documents[553](index=553&type=chunk) [Form 10-K Summary](index=100&type=section&id=Item%2016.%20Form%2010-K%20Summary) This item is not applicable - Not applicable[562](index=562&type=chunk)

Financial Performance - Quanterix Q4 2019 revenue reached $15.9 million, a 46% increase compared to $10.9 million in Q4 2018[7, 79] - Full year 2019 revenue was $56.7 million, representing a 51% growth from $37.6 million in 2018[7, 79] - Consumables revenue showed significant growth, with full year 2019 consumables revenue increasing by 86%[6, 7] - Adjusted gross margin for full year 2019 was 49.7%, an increase of 380 bps compared to 45.9% in 2018[7] Product and Market Growth - Instruments revenue grew by 55% for the full year 2019[7, 9] - Neurology showed a growth of 121%[10] - The company raised approximately $120 million in growth capital[6] Technology and Innovation - Simoa technology enables a +3,000X increase in sensitivity[18] - The company aims for a 100x sensitivity increase by the end of 2021[62] - Nf-L publications increased significantly, demonstrating clinical utility in disease activity monitoring and drug efficacy[6, 44] Strategic Focus - The company is focused on neurology and oncology, with strategic mergers and acquisitions to expand capabilities[6, 62] - Quanterix has a methodical market penetration strategy targeting both research and diagnostics markets, with an aspiration to disrupt the $40B+ diagnostics market[25, 27, 67] - The company aims to achieve 50%+ utilization and 50% HD-X installed base by the end of 2020[62]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 For the transition period from to . Commission File Number: 001‑38319 QUANTERIX CORPORATION (Exact name of registrant as specified in its charter) Delaware 20‑8957988 (St ...

[PART I — FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) This section presents the company's financial statements, management's analysis, and related disclosures [Special Note Regarding Forward-Looking Statements](index=3&type=section&id=Special%20Note%20Regarding%20Forward-Looking%20Statements) This section warns investors that forward-looking statements are subject to risks and uncertainties, and actual results may differ materially - The report includes forward-looking statements concerning financial performance subject to **risks and uncertainties**[8](index=8&type=chunk) - The company disclaims any obligation to update forward-looking statements, advising against undue reliance on them as future predictions[9](index=9&type=chunk) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents unaudited condensed consolidated financial statements, highlighting asset growth, revenue increase, and a wider net loss [Unaudited Condensed Consolidated Balance Sheets](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) This section details the company's financial position, presenting assets, liabilities, and equity at specific dates Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2019 | December 31, 2018 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $72,025 | $44,429 | | Total current assets | $92,386 | $59,496 | | Total assets | $109,408 | $67,611 | | **Liabilities & Equity** | | | | Total current liabilities | $17,018 | $18,125 | | Total liabilities | $34,663 | $26,546 | | Total stockholders' equity | $74,745 | $41,065 | | Total liabilities and stockholders' equity | $109,408 | $67,611 | - **Total assets** significantly increased to **$109.4 million** from **$67.6 million**, driven by cash and cash equivalents[13](index=13&type=chunk) - **Total stockholders' equity** grew to **$74.7 million** from **$41.1 million**, primarily from an at-the-market stock offering[13](index=13&type=chunk) [Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) This section outlines the company's financial performance, including revenue, expenses, and net loss over specific periods Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2019 | Q2 2018 | YTD 2019 | YTD 2018 | | :--- | :--- | :--- | :--- | :--- | | Total revenue | $13,536 | $8,643 | $25,872 | $16,164 | | Gross profit | $6,931 | $3,973 | $12,936 | $7,145 | | Loss from operations | $(10,514) | $(7,311) | $(19,873) | $(14,475) | | Net loss | $(10,563) | $(7,343) | $(19,968) | $(14,545) | | Net loss per share | $(0.46) | $(0.34) | $(0.88) | $(0.67) | - Total revenue for Q2 2019 increased by **56.6% year-over-year**, driven by a **68.8% increase in product revenue**[14](index=14&type=chunk) - Net loss widened in Q2 2019 to **$10.6 million** from **$7.3 million** in Q2 2018, primarily due to increased Selling, General and Administrative expenses[14](index=14&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This section reports the company's cash inflows and outflows from operating, investing, and financing activities Condensed Consolidated Statements of Cash Flows (in thousands) | Activity | Six Months Ended June 30, 2019 | Six Months Ended June 30, 2018 | | :--- | :--- | :--- | | Net cash used in operating activities | $(12,820) | $(13,970) | | Net cash used in investing activities | $(9,830) | $(3,691) | | Net cash provided by (used in) financing activities | $50,272 | $(1,547) | | Net increase (decrease) in cash | $27,622 | $(19,208) | - Net cash provided by financing activities was **$50.3 million** for the first six months of 2019, primarily due to **$48.0 million** in net proceeds from an at-the-market offering[18](index=18&type=chunk) - Net cash used in investing activities increased to **$9.8 million**, mainly from purchases of property and equipment, compared to **$3.7 million** in the prior year period which included an acquisition[18](index=18&type=chunk) [Unaudited Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Unaudited%20Consolidated%20Statements%20of%20Stockholders'%20Equity) This section details changes in the company's equity, including stock issuances and the impact of net loss - Stockholders' equity increased from **$41.1 million** at December 31, 2018, to **$74.7 million** at June 30, 2019[20](index=20&type=chunk) - The increase in equity was primarily driven by the sale of common stock in an at-the-market offering, which raised **$48.0 million** in net proceeds, offset by a net loss of **$20.0 million** for the six-month period[20](index=20&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations and disclosures supporting the condensed consolidated financial statements - The company develops and markets ultra-sensitive digital immunoassay platforms (Simoa) for life sciences research and diagnostics, launching its third instrument, the SP-X, in April 2019[23](index=23&type=chunk)[24](index=24&type=chunk) - On January 1, 2019, the company adopted the new revenue recognition standard ASC 606 using the modified retrospective method, resulting in a **$0.4 million** adjustment to accumulated deficit[36](index=36&type=chunk)[37](index=37&type=chunk) - Subsequent to the quarter end, on August 1, 2019, the company completed the acquisition of UmanDiagnostics AB for an aggregate price of **$22.5 million**, consisting of **$16.0 million** in cash and **$6.5 million** in common stock[111](index=111&type=chunk) - On June 5, 2019, the company issued approximately **2.2 million shares** of common stock through an at-the-market offering, resulting in net proceeds of **$48.0 million**[28](index=28&type=chunk)[107](index=107&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, noting revenue growth, improved gross margin, increased operating expenses, and strengthened liquidity Q2 2019 vs Q2 2018 Results (in thousands) | Metric | Q2 2019 | Q2 2018 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Total Revenue | $13,536 | $8,643 | $4,893 | 56.6% | | Gross Profit | $6,931 | $3,973 | $2,958 | 74.5% | | R&D Expense | $4,016 | $3,705 | $311 | 8.4% | | SG&A Expense | $13,429 | $7,579 | $5,850 | 77.2% | | Net Loss | $(10,563) | $(7,343) | $(3,220) | 43.9% | - The **56.6% revenue increase** in Q2 2019 was driven by higher instrument sales (**$2.7 million** vs **$1.8 million**) and consumables sales (**$6.1 million** vs **$3.4 million**), reflecting a growing installed base[127](index=127&type=chunk)[129](index=129&type=chunk) - The **77.2% increase in SG&A expense** in Q2 2019 was primarily due to headcount additions, public company costs, a new headquarters lease, and approximately **$0.9 million** in costs associated with the Uman acquisition[133](index=133&type=chunk) - The company raised **$48.0 million** in net proceeds from an at-the-market stock offering during the second quarter of 2019, significantly bolstering its cash position[145](index=145&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=47&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section confirms no material changes to the market risk information previously disclosed in the 2018 Annual Report on Form 10-K - There were no material changes to the company's market risk disclosures from those reported in the 2018 Annual Report on Form 10-K[176](index=176&type=chunk) [Controls and Procedures](index=47&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - The company's principal executive officer and principal financial officer concluded that disclosure controls and procedures were effective as of June 30, 2019[177](index=177&type=chunk)[178](index=178&type=chunk) - There were no material changes to the company's internal control over financial reporting during the second quarter of 2019[179](index=179&type=chunk) [PART II — OTHER INFORMATION](index=49&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) This section covers legal proceedings, risk factors, equity sales, and other miscellaneous disclosures [Legal Proceedings](index=49&type=section&id=Item%201.%20Legal%20Proceedings) The company reports it is not currently a party to any material legal proceedings - As of the filing date, the company is not involved in any material legal proceedings[182](index=182&type=chunk) [Risk Factors](index=49&type=section&id=Item%201A.%20Risk%20Factors) New risk factors relate to the UmanDiagnostics AB acquisition, including integration challenges and failure to realize anticipated benefits - New risk factors have been added related to the acquisition of Uman[183](index=183&type=chunk) - Key risks include the potential failure to realize anticipated benefits and cost savings from the Uman acquisition and the possibility of business disruption during the integration process[183](index=183&type=chunk) - The company notes that managing the expanded operations post-acquisition presents challenges, and failure to do so effectively could adversely impact future results[184](index=184&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=49&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section confirms no unregistered equity sales and updates on the use of IPO proceeds for operations, investments, and acquisitions - The company completed its IPO on December 11, 2017, receiving net proceeds of approximately **$65.6 million**[186](index=186&type=chunk)[187](index=187&type=chunk) - As of June 30, 2019, approximately **$54.3 million** of the IPO proceeds have been used for operating expenses, capital investments, debt payments, and the Aushon acquisition[187](index=187&type=chunk)[188](index=188&type=chunk) [Defaults Upon Senior Securities](index=51&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This item is not applicable as the company has not defaulted upon any senior securities - Not applicable[191](index=191&type=chunk) [Mine Safety Disclosures](index=51&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - Not applicable[192](index=192&type=chunk) [Other Information](index=51&type=section&id=Item%205.%20Other%20Information) The company reports no other information for this item - Not applicable[193](index=193&type=chunk) [Exhibits](index=51&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including agreements, officer certifications, and XBRL data files - A list of exhibits filed with the Form 10-Q is provided, including the Share Purchase Agreement for Uman, an amendment to a loan agreement, and certifications by the CEO and CFO[194](index=194&type=chunk)[195](index=195&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-38319 QUANTERIX CORPORATION (Exact name of registrant as specified in its charter) Delaware 20-8957988 (State or other jurisd ...

Use these links to rapidly review the document TABLE OF CONTENTS TABLE OF CONTENTS 2 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 02421 (Zip Code) o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to MA (Address of principal executive offices) Commission file number: 001-38319 QUANTERIX ...