NEW YORK – Quanterix on Tuesday reported that its preliminary Q4 2024 revenues rose 11 percent year over year.
The Billerica, Massachusetts-based company said it expects revenue of roughly $34.9 million for the three months ended Dec. 31, up from $31.5 million in Q4 2023 and above the consensus Wall Street estimate of $34.4 million.
Quanterix projected Q4 2024 instrument revenue of approximately $3.1 million, a 6 percent year-over-year decline; consumables revenue of $17.4 million, flat year over year; accelerator revenue of $8.6 million, a 22 percent rise year over year; and other revenue of $5.8 million, representing a 57 percent increase year over year.
“Despite a difficult capital spending environment, Quanterix has shown operational resiliency, and we expect to continue to build on this performance as we enter 2025 from a position of strength," President and CEO Masoud Toloue said in a statement accompanying release of the preliminary results.
For full-year 2024, Quanterix reported preliminary revenues of approximately $137.2 million, up 12 percent from $122.4 million in 2023 and above the consensus Wall Street estimate of $136.4 million.
Preliminary full-year 2024 instrument revenue was approximately $10.5 million, down 33 percent from full-year 2023. Consumables revenue was $69.3 million, up 8 percent year over year. Accelerator revenue was $38.0 million, up 36 percent year over year. Other revenue was $19.4 million, up 30 percent year over year.
Quanterix ended 2024 with cash, cash equivalents, marketable securities, and restricted cash of approximately $292 million.