Quanterix(US:QTRX)2025-08-07 21:16Financial Performance - The company reported net losses of $30.0 million and $50.5 million for the three and six months ended June 30, 2025, respectively [153]. - Total revenues decreased by $9.9 million, or 29%, to $24.5 million for the three months ended June 30, 2025, compared to $34.4 million for the same period in 2024 [166]. - Total revenues for the six months ended June 30, 2025, decreased by $11.6 million, or 18%, to $54.8 million compared to $66.4 million for the same period in 2024 [183]. - Net loss for the three months ended June 30, 2025, was $30.0 million, compared to a net loss of $7.4 million for the same period in 2024, representing a 306% increase in loss [182]. - Gross profit for the three months ended June 30, 2025, was $11.3 million, compared to $22.2 million for the same period in 2024, representing a decrease of 49.1% [231]. - Total operating expenses for the three months ended June 30, 2025, were $48.4 million, an increase from $33.2 million in 2024, representing a rise of 45.7% [231]. - Loss from operations for the three months ended June 30, 2025, was $37.1 million, compared to a loss of $10.9 million in 2024, indicating a deterioration of 239.5% [231]. Revenue Breakdown - Product revenue decreased by $3.1 million, or 15%, to $16.8 million, primarily due to a slowdown in US federal research funding and changing macro-economic conditions [167]. - Service revenue decreased by $6.4 million, or 48%, to $7.1 million, mainly due to the completion of a collaboration agreement with Eli Lilly and Company [168]. - Product revenue decreased by $2.0 million, or 5%, to $37.6 million for the six months ended June 30, 2025, compared to $39.6 million for the same period in 2024 [184]. - Service revenue decreased by $9.6 million, or 38%, to $15.9 million for the six months ended June 30, 2025, compared to $25.5 million for the same period in 2024 [185]. - Collaboration and license revenue increased by $0.4 million, or 47%, to $1.3 million for the six months ended June 30, 2025, compared to $0.9 million for the same period in 2024 [186]. Expenses and Costs - Total costs of goods sold and services increased by $1.0 million, or 8%, to $13.2 million for the three months ended June 30, 2025 [170]. - Research and development expenses increased by $0.9 million, or 11%, to $9.1 million, with a non-recurring charge of $2.1 million related to contingent compensation from the Emission acquisition [173][174]. - Selling, general and administrative expenses increased by $7.3 million, or 30%, to $31.4 million, including $6.2 million of non-recurring costs related to acquisitions [175][176]. - Impairment and restructuring costs of $7.7 million were recorded for the three months ended June 30, 2025, related to goodwill impairment and severance expenses [178]. - Total cost of goods sold and services increased by $1.4 million, or 6%, to $27.1 million for the six months ended June 30, 2025, compared to $25.7 million for the same period in 2024 [187]. - Research and development expense increased by $4.2 million, or 28%, to $19.1 million for the six months ended June 30, 2025, compared to $14.9 million for the same period in 2024 [190]. - Selling, general and administrative expense increased by $13.7 million, or 27%, to $63.8 million for the six months ended June 30, 2025, compared to $50.1 million for the same period in 2024 [192]. Cash Flow and Investments - Net cash used in operating activities was $19.5 million for the six months ended June 30, 2025, a decrease from $25.1 million for the same period in 2024 [208]. - Net cash provided by investing activities was $94.6 million for the six months ended June 30, 2025, compared to net cash used of $102.2 million for the same period in 2024 [209]. Acquisitions and Strategic Initiatives - The acquisition of Akoya was completed on July 8, 2025, with a total payment of $82.1 million to settle Akoya's debt financing [158]. - The acquisition of Akoya was completed for approximately $19.6 million in cash and 7.8 million shares of common stock on July 8, 2025 [214]. - The company plans to enhance operational and management information systems as part of its strategic initiatives [155]. - Restructuring plans aim to reduce operating expenses by approximately $30.0 million in 2025, with expected annualized savings of about $67.0 million [162]. Compliance and Certifications - ISO 13485 certification was received on January 31, 2025, indicating compliance with international standards for medical device manufacturing [164]. Asset Management - The company continues to evaluate whether events indicate that the carrying value of assets may not be recoverable, which could impact future financial results [225]. - The company had cash, cash equivalents, and marketable securities totaling $261.2 million, with an accumulated deficit of $520.6 million as of June 30, 2025 [153].