Quanterix (NASDAQ:QTRX) reported second-quarter 2026 revenue of $32.9 million and lowered its full-year outlook after management cited broad-based market softness and commercial execution challenges. The company said revenue came in about $3 million, or 9%, below the guidance it provided in May.
Revenue increased 34% on a reported basis from $24.5 million in the prior-year quarter, reflecting the Akoya acquisition. However, on a pro forma basis including Akoya’s pre-acquisition revenue in the 2025 period, revenue declined 23% year over year.
“The commercial execution initiatives we began earlier this year have not yet delivered the sustained revenue performance or sales productivity we believe this organization can achieve,” Cunningham said. “As a result, more decisive action is required.”
Guidance Cut and Cash Outlook
Quanterix reduced its 2026 revenue guidance to a range of $142 million to $148 million, from prior guidance of $169 million to $174 million. The company also lowered its projected non-GAAP gross margin range to 48% to 50%, compared with its previous forecast of 49% to 53%.
The company now expects to reach cash-flow breakeven in 2027 rather than by the end of 2026. It forecast ending 2026 with approximately $80 million in cash and no debt, compared with its prior expectation of about $100 million.
Chief Financial Officer Jason Faessler said Quanterix expects third-quarter revenue to be flat to slightly above second-quarter revenue. Management expects commercial actions now underway to support increased revenue later in 2026, with a more material contribution anticipated in 2027 and beyond.
Cash usage was $5.7 million during the second quarter, and Quanterix ended the period with $96.9 million in cash. Adjusted cash usage, excluding certain severance and integration costs, was $4 million. Faessler said cash preservation benefited from Akoya-related synergies, cost reductions and improved collections.
Segment and Regional Performance
Simoa revenue totaled $20.6 million in the quarter and declined by a low-teens percentage year over year. The company said Simoa consumables experienced a smaller decline, while non-accelerator services grew year over year. Accelerator lab services declined more than the company average as project sizes remained smaller, though the company reported a significant increase in accelerator bookings during the quarter.
Spatial revenue was $12.3 million, declining year over year across instruments and consumables. Faessler attributed the performance to continued weak funding among U.S. academic and government customers.
- Americas revenue was $18.1 million and declined significantly, reflecting commercial execution issues as well as weakness in academic and government spending.
- EMEA revenue was $10.3 million and declined by a mid-single-digit percentage, primarily due to lower consumables pull-through.
- APAC revenue was $4.5 million and was down by a high-single-digit percentage excluding a comparison headwind related to revenue pulled into the second quarter of 2025 ahead of tariffs.
- Pharma contract research organization revenue was $14.2 million, down by a mid-teens percentage year over year but up sequentially in both Spatial and Simoa offerings.
- Academic and government revenue was $18.7 million and declined significantly.
- Revenue from diagnostics partners was $1.6 million.
GAAP gross profit was $12.7 million, representing a 38.5% margin. Non-GAAP gross profit was $15.8 million, while non-GAAP gross margin expanded 600 basis points year over year to 47.9%, which the company attributed largely to Akoya acquisition synergies and cost-cutting actions.
Operating expenses were $62.1 million, including $30.4 million in acquisition, integration, separation and purchase-accounting costs. Those costs included a $26.9 million non-cash write-off related to Akoya goodwill. Faessler said the impairment was required under U.S. GAAP and reflected macroeconomic factors and company performance, with no impact on liquidity or operations. Adjusted EBITDA was a loss of $10 million.
Commercial Reorganization and Akoya Integration
Quanterix said it completed the Akoya integration during the second quarter, including enterprise resource planning integration and planned cost synergies. Cunningham said the company achieved its planned $85 million in annualized savings.
The company is reorganizing its commercial team from a primarily geographic model to a solution-based sales structure focused on Simoa, Spatial and Accelerator offerings. The effort is intended to give sales representatives deeper product specialization and closer customer engagement.
Quanterix appointed Jim Gute to lead commercial execution. Gute most recently served as senior vice president and commercial manager of general screening at Exact Sciences and previously spent 18 years at GE, where he became president of GE HealthCare in 2021. Geoff Albrecht, who joined in June as senior vice president and general manager of diagnostics, is leading the diagnostics business.
Management said it expects Simoa to show more recovery than Spatial in the second half, supported by consumables and some sequential improvement in instruments. The company does not expect a recovery in academic and government funding during the period, and said Spatial trends could continue to lag Simoa.
Diagnostics and Product Development
Quanterix continued to emphasize its Alzheimer’s disease diagnostics strategy, centered on its LucentAD Complete blood-based biomarker test. Cunningham said test volumes increased significantly in the second quarter, although from a small base.
The company said that, effective July 1, qualifying members covered under Anthem Blue Cross and Blue Shield medical policies may receive coverage for blood-based biomarker testing, including LucentAD Complete, when medical-necessity criteria are met. Quanterix also cited CMS pricing of $897 for the test.
Management said it has submitted a 510(k) application to the Food and Drug Administration for its single-site, multi-analyte algorithmic blood-based biomarker test and remains in discussions with the agency. Cunningham said the company is targeting FDA approval toward the end of 2026. Quanterix also plans to pursue a future 510(k) application for its HD-X platform as an in vitro diagnostic product in 2027.
During the quarter, Quanterix launched an ultrasensitive immunoassay for NPTX2, a synaptic-function biomarker. Its Spatial business also introduced a molecular barcoding kit for the PhenoCycler-Fusion platform through an early-access program and Spatial Spectral DAPI 2.0 for the PhenoImager HT platform.
About Quanterix (NASDAQ:QTRX)
Quanterix Corporation is a life sciences and diagnostics company specializing in ultra-sensitive digital immunoassay platforms. Its proprietary Single Molecule Array (Simoa) technology enables researchers to detect and quantify proteins, peptides and nucleic acids at femtomolar concentrations, offering sensitivity that surpasses traditional immunoassay methods. By translating single-molecule detection into routine laboratory workflows, Quanterix aims to accelerate biomarker discovery and the development of novel diagnostics and therapeutics.
The company’s core product portfolio includes the Simoa HD-1 and HD-X Analyzers, which automate high-throughput digital immunoassays for quantifying low-abundance biomarkers.
