Financial Data and Key Metrics Changes - In the first quarter, the company reported revenue of $30.3 million, a decline of 5% year-over-year, with consumables revenue reaching a record $18.1 million, up 6% compared to the previous year [10][20] - Adjusted gross margin was approximately 50%, while adjusted cash usage was $9 million, representing a greater than 50% improvement versus last year [10][20] - The company ended the quarter with $269.5 million in cash and equivalents, down $22.2 million from last year [24] Business Line Data and Key Metrics Changes - Consumables revenue was driven by strong performance from newly launched products, while instruments revenue was $2.6 million, up 3% year-over-year [20] - Accelerator lab revenue decreased by 36% to $5.6 million, primarily due to a decline in large multimillion-dollar projects from pharma customers [20] - The customer mix for Q1 was approximately 50% between pharma and academia, with diagnostics partner sales totaling $1.6 million [21] Market Data and Key Metrics Changes - North America led revenue growth with a 3% increase, while Europe declined by 30% and the Asia Pacific region grew by 14% [21] - The company noted a significant decline in cumulative award values in the academic market, down almost 40% [54] Company Strategy and Development Direction - The company is focused on expanding its leadership in neurology and entering immunology and oncology markets through the acquisition of Akoya Biosciences [9][12] - The upcoming launch of the Simoa One platform aims to break current sensitivity barriers and democratize access to technology by allowing use on existing flow cytometers [17][18] - The company is committed to achieving positive cash flow by 2026, supported by a balance sheet exceeding $100 million [19][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the demand for human health solutions despite macroeconomic challenges, emphasizing the resilience of the instruments and consumables business [7][9] - The company has revised its guidance more conservatively due to broader macro funding environment pressures, expecting revenue to decline by 5% to 13% for the full year [25][26] - Management highlighted the importance of operational discipline and cost efficiencies to ensure sustainable growth [19][31] Other Important Information - The company announced a $30 million core operating cost reduction, scaling to $55 million in annualized savings by 2026 [19] - The equity value of the pending merger with Akoya Biosciences was reduced by 67%, increasing Quanterix's shareholder ownership of the combined company from 70% to 84% [11] Q&A Session Summary Question: How did Accelerator revenue compare to expectations? - Management indicated that Q1 Accelerator revenue was aligned with expectations, noting a strong recurring revenue component but a lack of large project revenues [37][39] Question: What drove the record consumables revenue? - Management attributed the record consumables revenue to top neurology assays and traction in inflammation and cytokine-based assays [36] Question: What are the implications of the Simoa One platform? - The Simoa One platform is expected to enhance sensitivity and expand into immunology and oncology, leveraging existing flow cytometry infrastructure [41][42] Question: What is the expected contribution from Lucent Diagnostics testing? - Management anticipates that pricing for the Lucent AD Complete test will begin in early 2026, with expectations for significant market impact [44][80] Question: What are the assumptions for the 2026 cash flow? - The company expects to achieve cash flow breakeven in 2026, with a focus on realizing synergies from the Akoya acquisition [30][88]

March 17, 2025 Legal Information IMPORTANT ADDITIONAL INFORMATION " Fourth Quarter & Full Year 2024 Earnings In connection with the proposed acquisition of Akoya Biosciences, Inc. ("Akoya") by Quanterix (the "Merger"), Quanterix filed with the U.S. Securities and Exchange Commission (the "SEC") a registration statement on Form S-4, dated February 13, 2025 (the "Registration Statement"), which contains a preliminary joint proxy statement of Quanterix and Akoya and a preliminary prospectus of Quanterix (the " ...