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Quanterix Corporation (QTRX) 10-Year Financial Performance & Capital Metrics

QTRX • • Industrial / General
HealthcareMedical DevicesDiagnostic & Imaging EquipmentPoint-of-Care Diagnostics
AboutQuanterix Corporation, a life sciences company, engages in development and marketing of digital immunoassay platforms that advances precision health for life sciences research and diagnostics in North America, Europe, the Middle East, Africa, and the Asia Pacific regions. It offers HD-X instrument, a sensitive automated multiplex protein detection platform; and SR-X instrument that enables researchers to apply Simoa detection technology in various applications, including direct detection of nucleic acids. The company also provides SP-X instrument that is based on Simoa planar array technology for the measurement of multiplex chemiluminescent immunoassays. The company's products include assay kits and other consumables such as reagents. In addition, it offers contract research services, including sample testing, homebrew assay development, and custom development services. The company primarily operates in the areas of neurology, oncology, cardiology, infectious diseases, and inflammation. It sells its products for the life science research sector primarily to laboratories associated with academic and governmental research institutions, as well as pharmaceutical, biotechnology, and contract research companies through a direct sales force, support organizations, and distributors or sales agents. The company was formerly known as Digital Genomics, Inc. and changed its name to Quanterix Corporation in August 2007. Quanterix Corporation was incorporated in 2007 and is headquartered in Billerica, Massachusetts.Show more
  • Revenue $135M +11.8%
  • EBITDA -$44M -17.4%
  • Net Income -$39M -35.9%
  • EPS (Diluted) -1.00 -16.3%
  • Gross Margin 59.89% -0.6%
  • EBITDA Margin -32.68% -5.0%
  • Operating Margin -38.85% -2.3%
  • Net Margin -28.45% -21.5%
  • ROE -11.33% -41.5%
  • ROIC -14.96% +39.2%
  • Debt/Equity 0.11 -4.4%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 86 (top 14%)
  • ✓Strong 5Y sales CAGR of 19.0%
  • ✓Trading at only 0.9x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y19.01%
3Y7%
TTM-2.67%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-143.34%

EPS CAGR

10Y-
5Y-
3Y-
TTM-119.81%

ROCE

10Y Avg-44.14%
5Y Avg-16.44%
3Y Avg-16.5%
Latest-13.95%

Peer Comparison

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Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+12.18M17.59M22.87M37.63M56.73M86.38M110.56M105.52M121.14M135.44M
Revenue Growth %-0.44%0.3%0.65%0.51%0.52%0.28%-0.05%0.15%0.12%
Cost of Goods Sold+6.46M9.84M12.89M19.65M29.9M38.2M45.78M60.16M48.14M54.32M
COGS % of Revenue0.53%0.56%0.56%0.52%0.53%0.44%0.41%0.57%0.4%0.4%
Gross Profit+5.71M7.75M9.99M17.98M26.84M48.18M64.77M45.36M73M81.12M
Gross Margin %0.47%0.44%0.44%0.48%0.47%0.56%0.59%0.43%0.6%0.6%
Gross Profit Growth %-0.36%0.29%0.8%0.49%0.8%0.34%-0.3%0.61%0.11%
Operating Expenses+20.24M29.46M35.99M49.07M68.44M79.77M121.29M149.63M118.99M133.74M
OpEx % of Revenue1.66%1.68%1.57%1.3%1.21%0.92%1.1%1.42%0.98%0.99%
Selling, General & Admin10.15M12.47M19.69M33.78M52.25M59.59M92.91M91.85M92.82M104.64M
SG&A % of Revenue0.83%0.71%0.86%0.9%0.92%0.69%0.84%0.87%0.77%0.77%
Research & Development10.08M16.99M16.3M15.29M16.19M20.17M28.38M26.81M26.06M31.08M
R&D % of Revenue0.83%0.97%0.71%0.41%0.29%0.23%0.26%0.25%0.22%0.23%
Other Operating Expenses0-164K-62K-7K00030.97M99K-1.99M
Operating Income+-14.52M-21.71M-26M-31.55M-41.6M-31.58M-56.52M-104.26M-45.99M-52.62M
Operating Margin %-1.19%-1.23%-1.14%-0.84%-0.73%-0.37%-0.51%-0.99%-0.38%-0.39%
Operating Income Growth %--0.49%-0.2%-0.21%-0.32%0.24%-0.79%-0.84%0.56%-0.14%
EBITDA+-14.1M-21.27M-25.52M-30.2M-38.59M-27.27M-51.64M-98.86M-37.7M-44.26M
EBITDA Margin %-1.16%-1.21%-1.12%-0.8%-0.68%-0.32%-0.47%-0.94%-0.31%-0.33%
EBITDA Growth %--0.51%-0.2%-0.18%-0.28%0.29%-0.89%-0.91%0.62%-0.17%
D&A (Non-Cash Add-back)425K444K482K1.35M3.01M4.31M4.88M5.41M8.29M8.36M
EBIT-14.9M-21.88M-26.07M-31.55M-41.6M-31.58M-56.52M-73.3M-44.66M-52.62M
Net Interest Income+-1.04M-1.3M-951K46K627K-273K-403K5.13M15.84M14.65M
Interest Income001K46K627K005.13M15.84M14.65M
Interest Expense1.04M1.3M952K00273K403K000
Other Income/Expense-1.42M-1.46M-1.01M39K617K-322K937K4.85M18.36M14.52M
Pretax Income+-15.94M-23.17M-27.02M-31.05M-40.98M-31.91M-55.58M-99.41M-27.64M-38.1M
Pretax Margin %-1.31%-1.32%-1.18%-0.82%-0.72%-0.37%-0.5%-0.94%-0.23%-0.28%
Income Tax+00025K-187K-376K-36K164K719K434K
Effective Tax Rate %1%1%1%1%1%0.99%1%1%1.03%1.01%
Net Income+-15.94M-23.17M-27.02M-31.05M-40.8M-31.53M-55.55M-99.57M-28.35M-38.53M
Net Margin %-1.31%-1.32%-1.18%-0.82%-0.72%-0.37%-0.5%-0.94%-0.23%-0.28%
Net Income Growth %--0.45%-0.17%-0.15%-0.31%0.23%-0.76%-0.79%0.72%-0.36%
Net Income (Continuing)-15.94M-23.17M-27.02M-31.54M-40.8M-31.53M-55.55M-99.57M-28.35M-38.53M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+-7.79-1.43-1.24-1.39-1.63-1.07-1.60-2.61-0.86-1.00
EPS Growth %-0.82%0.13%-0.12%-0.17%0.34%-0.5%-0.63%0.67%-0.16%
EPS (Basic)-7.79-1.43-1.24-1.41-1.63-1.07-1.60-2.61-0.86-1.00
Diluted Shares Outstanding2.05M16.21M21.71M22.37M25.09M29.59M36M36.99M37.59M38.37M
Basic Shares Outstanding2.05M16.21M21.71M21.99M25.09M29.59M36M36.99M37.59M38.37M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+5.72M35.24M89.25M60.51M132.66M219.6M448.95M381.52M382.1M363.59M
Cash & Short-Term Investments2.32M29.67M79.68M45.43M109.16M181.58M396.46M338.74M321.32M289.12M
Cash Only2.32M29.67M79.68M45.43M109.16M181.58M396.46M338.74M174.42M56.71M
Short-Term Investments00000000146.9M232.41M
Accounts Receivable2.26M3.92M5.6M6.79M10.91M17.18M23.79M19.02M25.41M32.14M
Days Sales Outstanding67.7981.389.3465.8870.1672.6178.5365.7876.5786.62
Inventory1M1.53M3.57M5.96M10.46M14.86M22.19M16.96M26.12M32.77M
Days Inventory Outstanding56.5756.7101.14110.76127.73141.97176.9102.92198.05220.24
Other Current Assets0127K400K2.33M006.51M6.8M9.23M9.56M
Total Non-Current Assets+1.63M1.87M2.53M7.12M37.29M51.44M57.56M52.06M46.47M42.94M
Property, Plant & Equipment1.08M1.22M1.87M2.92M12.05M25.91M29.45M41.03M36.18M33.49M
Fixed Asset Turnover11.28x14.38x12.21x12.87x4.71x3.33x3.75x2.57x3.35x4.04x
Goodwill0001.31M9.35M10.46M9.63M000
Intangible Assets0002.35M14.31M13.72M10.53M7.52M6.03M4.03M
Long-Term Investments600K400K653K1M1.03M02.58M2.6M00
Other Non-Current Assets-49K251K-1K536K-1.67M1.36M378K-6.86M4.26M5.42M
Total Assets+7.35M37.12M91.78M67.63M169.95M271.05M506.51M433.58M428.57M406.53M
Asset Turnover1.66x0.47x0.25x0.56x0.33x0.32x0.22x0.24x0.28x0.33x
Asset Growth %-4.05%1.47%-0.26%1.51%0.59%0.87%-0.14%-0.01%-0.05%
Total Current Liabilities+7.79M10.96M19.71M17.66M19.83M39.8M36.98M31.35M38.98M42.01M
Accounts Payable1.35M2.55M3.55M5.11M5.78M6.8M9.21M3.84M5.05M6.95M
Days Payables Outstanding75.9994.58100.694.9370.5364.9773.4223.2738.2746.72
Short-Term Debt2.08M899K5.04M075K7.67M1.43M2.69M00
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities1.34M2.39M3.56M3.13M2.71M13.83M6.73M5.15M14.17M12.62M
Current Ratio0.73x3.22x4.53x3.43x6.69x5.52x12.14x12.17x9.80x8.66x
Quick Ratio0.61x3.08x4.35x3.09x6.16x5.14x11.54x11.63x9.13x7.88x
Cash Conversion Cycle48.3643.4289.8881.7127.37149.61182.02145.43236.35260.14
Total Non-Current Liabilities+14.76M12.69M6.2M8.41M21.46M25.12M28.59M44.3M39.63M34.49M
Long-Term Debt7.65M9.34M4.35M7.62M7.59M00000
Capital Lease Obligations-5.55M-2.8M00021.89M20.46M41.42M37.22M32.62M
Deferred Tax Liabilities5.55M2.8M002.83M2.65M7.02M9.24M1.18M800K
Other Non-Current Liabilities200K-2.59M144K278K10.58M00-7.77M00
Total Liabilities22.55M23.64M25.91M26.07M41.29M64.92M65.56M75.65M78.61M76.5M
Total Debt+9.73M10.24M9.38M7.62M7.66M30.8M21.89M44.1M41.46M37.37M
Net Debt7.4M-19.43M-70.3M-37.81M-101.49M-150.79M-374.57M-294.64M-132.96M-19.34M
Debt / Equity-0.76x0.14x0.18x0.06x0.15x0.05x0.12x0.12x0.11x
Debt / EBITDA----------
Net Debt / EBITDA----------
Interest Coverage-13.96x-16.73x-27.32x---115.69x-140.25x---
Total Equity+-15.2M13.48M65.87M41.56M128.66M206.13M440.95M357.93M349.96M330.04M
Equity Growth %-1.89%3.89%-0.37%2.1%0.6%1.14%-0.19%-0.02%-0.06%
Book Value per Share-7.420.833.031.865.136.9712.259.689.318.60
Total Shareholders' Equity-15.2M13.48M65.87M41.56M128.66M206.13M440.95M357.93M349.96M330.04M
Common Stock2K2K22K22K28K32K37K37K38K39K
Retained Earnings-88.64M-115.11M-144.35M-175.89M-216.24M-247.77M-305.46M-403.2M-431.55M-470.08M
Treasury Stock0000000000
Accumulated OCI-1.58M-1.96M-2.42M-3.02M-153K2.43M441K-2.54M-1.67M-3.08M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-12.52M-17.74M-22.11M-28.72M-26.19M-23.36M-47.91M-48.27M-18.9M-35.16M
Operating CF Margin %-1.03%-1.01%-0.97%-0.76%-0.46%-0.27%-0.43%-0.46%-0.16%-0.26%
Operating CF Growth %--0.42%-0.25%-0.3%0.09%0.11%-1.05%-0.01%0.61%-0.86%
Net Income-15.94M-23.17M-27.02M-31.54M-40.8M-31.53M-57.69M-96.7M-32.33M-38.53M
Depreciation & Amortization425K444K482K1.35M3.01M4.31M4.85M5.35M8.38M8.36M
Stock-Based Compensation1.1M928K2.17M4.88M6.39M10.1M15.97M15.44M16.76M19.99M
Deferred Taxes598K318K90K-14K140K416K801K-226K00
Other Non-Cash Items306K2.47M238K170K700K808K340K25.79M92K-6.19M
Working Capital Changes993K1.27M1.94M-3.58M4.37M-7.47M-12.19M2.07M-11.8M-18.79M
Change in Receivables-1.47M-1.66M-1.68M-983K-3.37M-6.24M-6.85M5.16M-6.7M-7.7M
Change in Inventory-254K-526K-2.04M-1.6M-3.45M-5.12M-8.09M5.39M-5.36M-6.68M
Change in Payables542K1.13M1M1.32M621K649K2.41M-5.36M1.19M723K
Cash from Investing+-554K-826K-1.13M-5.45M-25.38M-626K-6.34M-11.21M-148.4M-82.27M
Capital Expenditures-597K-526K-1.13M-1.52M-10.85M-3.93M-13.62M-11.73M-3.79M-3.37M
CapEx % of Revenue0.05%0.03%0.05%0.04%0.19%0.05%0.12%0.11%0.03%0.02%
Acquisitions----------
Investments----------
Other Investing43K0015K03.3M7.28M520K00
Cash from Financing+11.7M45.92M73.25M-78K116.2M96.24M270.8M2.31M2.69M456K
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing43K231K231K1.87M3.7M4.91M8.81M0-198K-2.61M
Net Change in Cash----------
Free Cash Flow+-13.11M-18.27M-23.24M-30.24M-37.03M-27.3M-61.52M-60M-22.69M-38.53M
FCF Margin %-1.08%-1.04%-1.02%-0.8%-0.65%-0.32%-0.56%-0.57%-0.19%-0.28%
FCF Growth %--0.39%-0.27%-0.3%-0.22%0.26%-1.25%0.02%0.62%-0.7%
FCF per Share-6.41-1.13-1.07-1.35-1.48-0.92-1.71-1.62-0.60-1.00
FCF Conversion (FCF/Net Income)0.79x0.77x0.82x0.93x0.64x0.74x0.86x0.48x0.67x0.91x
Interest Paid0000000000
Taxes Paid0000000684K808K875K

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)--171.96%-68.11%-57.8%-47.94%-18.84%-17.17%-24.93%-8.01%-11.33%
Return on Invested Capital (ROIC)----631%-201.84%-57.42%-69.65%-120.61%-24.61%-14.96%
Gross Margin46.92%44.06%43.66%47.79%47.3%55.78%58.59%42.99%60.26%59.89%
Net Margin-130.89%-131.78%-118.12%-82.5%-71.91%-36.5%-50.24%-94.36%-23.41%-28.45%
Debt / Equity-0.76x0.14x0.18x0.06x0.15x0.05x0.12x0.12x0.11x
Interest Coverage-13.96x-16.73x-27.32x---115.69x-140.25x---
FCF Conversion0.79x0.77x0.82x0.93x0.64x0.74x0.86x0.48x0.67x0.91x
Revenue Growth-44.38%30.08%64.52%50.76%52.25%27.99%-4.55%14.8%11.8%

Revenue by Segment

2018201920202021202220232024
Product23.36M720K580K---79.74M
Product Growth--96.92%-19.44%----
Service And Other Revenue------51.24M
Service And Other Revenue Growth-------
License and Service------4.45M
License and Service Growth-------
Grant------1.99M
Grant Growth-------
Product revenue---505K2.63M32.64M-
Product revenue Growth----421.58%1139.03%-
Service revenue.-----19.09M-
Service revenue. Growth-------
Service-type warranties and research services---7M9.6M--
Service-type warranties and research services Growth----37.14%--
Undelivered licenses of intellectual property---500K500K--
Undelivered licenses of intellectual property Growth----0.00%--
Service and other revenue---114K11K--
Service and other revenue Growth-----90.35%--
Undelivered Services Related To Initial And Extended Service Type Warranties And Research Services-3M4.9M----
Undelivered Services Related To Initial And Extended Service Type Warranties And Research Services Growth--63.33%----
Undelivered Licenses Of Intellectual Property-1.7M500K----
Undelivered Licenses Of Intellectual Property Growth---70.59%----
Service Other12.12M118K202K----
Service Other Growth--99.03%71.19%----
License And Service2.15M------
License And Service Growth-------

Revenue by Geography

2018201920202021202220232024
North America22.71M3.14M3.17M---43.72M
North America Growth--86.18%1.02%----
EMEA---2.04M2.78M25.51M24.62M
EMEA Growth----36.29%818.03%-3.51%
Asia Pacific3.18M171K207K255K480K12.56M11.4M
Asia Pacific Growth--94.63%21.05%23.19%88.24%2515.83%-9.17%
E M E A11.74M1.32M1.54M----
E M E A Growth--88.73%16.63%----

Frequently Asked Questions

Growth & Financials

Quanterix Corporation (QTRX) reported $129.0M in revenue for fiscal year 2024. This represents a 959% increase from $12.2M in 2015.

Quanterix Corporation (QTRX) grew revenue by 11.8% over the past year. This is steady growth.

Quanterix Corporation (QTRX) reported a net loss of $95.7M for fiscal year 2024.

Dividend & Returns

Quanterix Corporation (QTRX) has a return on equity (ROE) of -11.3%. Negative ROE indicates the company is unprofitable.

Quanterix Corporation (QTRX) had negative free cash flow of $68.2M in fiscal year 2024, likely due to heavy capital investments.

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