On August 8, 2018 Quanterix Corporation (NASDAQ:QTRX), a company digitizing biomarker analysis to advance the science of precision health, reported financial results for the three months and six months ended June 30, 2018 (Press release, Quanterix, AUG 8, 2018, View Source [SID1234528553]).
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"We are continuing to achieve strong momentum, as made evident by our performance in this second quarter, showing steady growth in terms of both product and company revenue," said Chief Executive Officer, President and Chairman, Kevin Hrusovsky. "We are at a pivotal point in our industry, where biomarkers are being recognized as increasingly representing a critical opportunity for accelerating drug approvals and helping to fuel demand for our technology for pharma services and drug development."
Second Quarter 2018 Financial Highlights
Key financial results for the second quarter are shown below:
Q2 revenue of $8.6M versus prior year Q2 of $5.2M, an increase of 66%.
Q2 product revenue was $5.2M versus prior year Q2 of $3.3M, an increase of 56%.
Q2 Service and Other revenue totaled $3.2M versus prior year Q2 of $1.6M, an increase of 97%.
YTD 2018 Financial Highlights
Key financial results for 2018 YTD are shown below:
YTD revenue of $16.2M versus prior year $10.6M, an increase of 53%.
YTD product revenue of $9.9M versus prior year $6.8M, an increase of 47%.
YTD Service and Other revenue of $5.7M versus prior year $3.3.M, an increase of 75%.
Second Quarter 2018 Business Highlights
SR-X platform momentum continues to build, with 22 assays now available
Cadence of publications continued to increase with 40 new publications featuring Simoa technology in Q2 alone, bringing total to >250
Continued commercial acceleration in Pharma Services, including significant build out of CLIA lab capabilities to handle increased sample volume
Major presence at American Association for Cancer Research (AACR) (Free AACR Whitepaper) 2018 Annual Conference, broadening reach into oncology and liquid tumor biopsy market
Kevin Hrusovsky invited to speak at PULSE: The Atlantic Summit on Healthcare
Attendance at 10 industry tradeshows and conferences in North America and Europe spanning multiple therapeutic areas
Created new integrated marketing and inside sales lead generation team to fuel accelerated pipeline development
Developed and began promoting a major webinar scheduled in September on "Disrupting Drug Development with Digital Biomarkers" featuring Kevin Hrusovsky, CEO and Chairman of Quanterix, Dr. Henrik Zetterberg of the University of Gothenburg, and Dr. Andy Nixon of Duke University
Conference Call
In conjunction with this announcement, Quanterix Corporation will host a conference call on August 8, 2018, at 4:30 p.m. EDT to discuss the Company’s financial results and business outlook. To access this call, dial (833) 686-9351 for domestic callers, or (612) 979-9890 for international callers. Please reference the following conference ID: 4299369.
A live webcast will be accessible on the Investors section of Quanterix’ website: View Source The webcast will be available on the Company’s website for one year following completion of the call.