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Quanterix Corporation (QTRX-7.44%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Quanterix's financial performance, reporting total revenues of $137.4 million for 2024, an increase from $122.4 million in 2023. This growth was primarily driven by a rise in service revenues, which increased by 28% to $51.2 million.
Product revenues remained relatively stable at $79.7 million, with consumables and other products contributing $69.3 million, offsetting a decline in instrument sales.
Quanterix reported a net loss of $38.5 million for the year, compared to a net loss of $28.4 million in 2023. The increase in net loss was attributed to higher operating expenses, including a 19% increase in research and development expenses to $31.1 million.
The company highlighted recent strategic developments, including the acquisition of Emission Inc. and the planned merger with Akoya Biosciences, Inc., aimed at expanding its technology offerings and market presence.
Quanterix's cash and cash equivalents stood at $56.7 million, with marketable securities valued at $232.4 million as of December 31, 2024. The company anticipates these resources will be sufficient to fund operations for at least the next 12 months.
The filing also discusses the company's ongoing efforts to remediate previously identified material weaknesses in internal controls, with progress reported in certain areas but continued work needed in others.
Quanterix continues to focus on enhancing its product offerings and expanding its customer base, with plans to launch its next-generation instrument, Simoa ONE, by the end of 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Quanterix Corporation annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.