The company's financial stability is increasingly compromised, with retained earnings deepening to a $594.8M deficit as of 2026Q1, signaling a persistent erosion of the equity base.
Quanterix Corporation (QTRX) balance sheet — 11-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 |
|---|
| Total Current Assets | 171.05M | 212.26M | 363.59M | 382.1M | 381.52M | 448.95M | 219.6M | 132.66M | 60.51M | 89.25M | 35.24M | 5.72M |
| Cash & Short-Term Investments | 93.53M | 118.23M | 289.12M | 321.32M | 338.74M | 396.46M | 181.58M | 109.16M | 45.43M | 79.68M | 29.67M | 2.32M |
| Cash Only | 44.17M | 29.84M | 56.71M | 174.42M | 338.74M | 396.46M | 181.58M | 109.16M | 45.43M | 79.68M | 29.67M | 2.32M |
| Short-Term Investments | 49.36M | 88.39M | 232.41M | 146.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 22.34M | 29.97M | 32.14M | 25.41M | 19.02M | 23.79M | 17.18M | 10.91M | 6.79M | 5.6M | 3.92M | 2.26M |
| Days Sales Outstanding | 66.73 | 78.9 | 86.62 | 76.57 | 65.78 | 78.53 | 72.61 | 70.16 | 65.88 | 89.34 | 81.3 | 67.79 |
| Inventory | 47.6M | 54.76M | 32.77M | 26.12M | 16.96M | 22.19M | 14.86M | 10.46M | 5.96M | 3.57M | 1.53M | 1M |
| Days Inventory Outstanding | 216.16 | 270.34 | 220.24 | 198.05 | 102.92 | 176.9 | 141.97 | 127.73 | 110.76 | 101.14 | 56.7 | 56.57 |
| Other Current Assets | 0 | 9.29M | 9.56M | 9.23M | 6.8M | 6.51M | 0 | 0 | 2.33M | 400K | 127K | 0 |
| Total Non-Current Assets | 148.58M | 206.51M | 42.94M | 46.47M | 52.06M | 57.56M | 51.44M | 37.29M | 7.12M | 2.53M | 1.87M | 1.63M |
| Property, Plant & Equipment | 35.05M | 40.34M | 33.49M | 36.18M | 41.03M | 29.45M | 25.91M | 12.05M | 2.92M | 1.87M | 1.22M | 1.08M |
| Fixed Asset Turnover | 3.89x | 3.44x | 4.04x | 3.35x | 2.57x | 3.75x | 3.33x | 4.71x | 12.87x | 12.21x | 14.38x | 11.28x |
| Goodwill | 0 | 26.38M | 0 | 0 | 0 | 9.63M | 10.46M | 9.35M | 1.31M | 0 | 0 | 0 |
| Intangible Assets | 105.78M | 131.79M | 4.03M | 6.03M | 7.52M | 10.53M | 13.72M | 14.31M | 2.35M | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 2.6M | 2.58M | 0 | 1.03M | 1M | 653K | 400K | 600K |
| Other Non-Current Assets | 7.74M | 8.01M | 5.42M | 4.26M | -6.86M | 378K | 1.36M | -1.67M | 536K | -1K | 251K | -49K |
| Total Assets | 319.63M | 418.77M | 406.53M | 428.57M | 433.58M | 506.51M | 271.05M | 169.95M | 67.63M | 91.78M | 37.12M | 7.35M |
| Asset Turnover | 0.40x | 0.33x | 0.33x | 0.28x | 0.24x | 0.22x | 0.32x | 0.33x | 0.56x | 0.25x | 0.47x | 1.66x |
| Asset Growth % | -11.36% | 3.01% | -5.14% | -1.16% | -14.4% | 86.87% | 59.48% | 151.3% | -26.31% | 147.27% | 404.92% | - |
| Total Current Liabilities | 50.37M | 74.76M | 42.01M | 38.98M | 31.35M | 36.98M | 39.8M | 19.83M | 17.66M | 19.71M | 10.96M | 7.79M |
| Accounts Payable | 8.89M | 13.57M | 6.95M | 5.05M | 3.84M | 9.21M | 6.8M | 5.78M | 5.11M | 3.55M | 2.55M | 1.35M |
| Days Payables Outstanding | 43.33 | 66.98 | 46.72 | 38.27 | 23.27 | 73.42 | 64.97 | 70.53 | 94.93 | 100.6 | 94.58 | 75.99 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 7.67M | 75K | 0 | 5.04M | 899K | 2.08M |
| Deferred Revenue (Current) | 71.72M | 20.73M | 8.83M | 9.47M | 8.64M | 6.36M | 5.42M | 4.7M | 5.44M | 4.94M | 3.43M | 1.47M |
| Other Current Liabilities | 0 | 21.85M | 12.62M | 14.17M | 11.04M | 13.49M | 13.83M | 2.71M | 3.13M | 3.56M | 2.39M | 1.34M |
| Current Ratio | 3.40x | 2.84x | 8.66x | 9.80x | 12.17x | 12.14x | 5.52x | 6.69x | 3.43x | 4.53x | 3.22x | 0.73x |
| Quick Ratio | 2.45x | 2.11x | 7.88x | 9.13x | 11.63x | 11.54x | 5.14x | 6.16x | 3.09x | 4.35x | 3.08x | 0.61x |
| Cash Conversion Cycle | 239.56 | 282.26 | 260.14 | 236.35 | 145.43 | 182.02 | 149.61 | 127.37 | 81.7 | 89.88 | 43.42 | 48.36 |
| Total Non-Current Liabilities | 32.04M | 48.27M | 34.49M | 39.63M | 44.3M | 28.59M | 25.12M | 21.46M | 8.41M | 6.2M | 12.69M | 14.76M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.59M | 7.62M | 4.35M | 9.34M | 7.65M |
| Capital Lease Obligations | 114.01M | 29.32M | 32.62M | 37.22M | 41.42M | 20.46M | 21.89M | 0 | 0 | 0 | -2.8M | -5.55M |
| Deferred Tax Liabilities | 8.1M | 8.1M | 800K | 1.18M | 9.24M | 7.02M | 2.65M | 2.83M | 0 | 0 | 2.8M | 5.55M |
| Other Non-Current Liabilities | 3.97M | 5.02M | 0 | 0 | -7.77M | 0 | 0 | 10.58M | 278K | 144K | -2.59M | 200K |
| Total Liabilities | 82.42M | 123.04M | 76.5M | 78.61M | 75.65M | 65.56M | 64.92M | 41.29M | 26.07M | 25.91M | 23.64M | 22.55M |
| Total Debt | 33.39M | 37.24M | 37.37M | 41.46M | 44.1M | 21.89M | 30.8M | 7.66M | 7.62M | 9.38M | 10.24M | 9.73M |
| Net Debt | -10.78M | 7.4M | -19.34M | -132.96M | -294.64M | -374.57M | -150.79M | -101.49M | -37.81M | -70.3M | -19.43M | 7.4M |
| Debt / Equity | 0.14x | 0.13x | 0.11x | 0.12x | 0.12x | 0.05x | 0.15x | 0.06x | 0.18x | 0.14x | 0.76x | - |
| Debt / EBITDA | -0.29x | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.10x | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -136.93x | -115.69x | - | - | -27.38x | -16.85x | -14.33x |
| Total Equity | 237.21M | 295.73M | 330.04M | 349.96M | 357.93M | 440.95M | 206.13M | 128.66M | 41.56M | 65.87M | 13.48M | -15.2M |
| Equity Growth % | -47.3% | -10.4% | -5.69% | -2.23% | -18.83% | 113.92% | 60.21% | 209.6% | -36.91% | 388.77% | 188.69% | - |
| Book Value per Share | 5.05 | 6.94 | 8.60 | 9.31 | 9.68 | 12.25 | 6.97 | 5.13 | 1.86 | 3.03 | 0.83 | -7.42 |
| Total Shareholders' Equity | 237.21M | 295.73M | 330.04M | 349.96M | 357.93M | 440.95M | 206.13M | 128.66M | 41.56M | 65.87M | 13.48M | -15.2M |
| Common Stock | 47K | 47K | 39K | 38K | 37K | 37K | 32K | 28K | 22K | 22K | 2K | 2K |
| Retained Earnings | -643.71M | -577.23M | -470.08M | -431.55M | -403.2M | -305.46M | -247.77M | -216.24M | -175.89M | -144.35M | -115.11M | -88.64M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.17M | -723K | -3.08M | -1.67M | -2.54M | 441K | 2.43M | -153K | -3.02M | -2.42M | -1.96M | -1.58M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying QTRX stock.
As of 2025, Quanterix Corporation (QTRX) had total assets of $418.8M including $212.3M in current assets.
Quanterix Corporation (QTRX) carries total debt of $37.2M, offset by $118.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Quanterix Corporation (QTRX) has total shareholders' equity (book value) of $295.7M ($6.94 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Quanterix Corporation (QTRX) reported a current ratio of 2.84x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Imminent liquidity shortfall
Metrics are mathematically derived from official filings.
Balance Sheet Erosion Accelerates Rapidly
As reported in recent SEC filings, QTRX's total assets have contracted from $428.6M in 2023Q4 to $366.7M in 2026Q1, reflecting a persistent erosion of the capital base that suggests the company is struggling to maintain its operational footprint while navigating a challenging transition to clinical diagnostic markets.
The consistent decline in total assets, coupled with a widening deficit in retained earnings, indicates that the company is consuming its capital base to fund ongoing operating losses. This trajectory suggests that the current business model remains structurally unviable without a significant shift in revenue scale or cost management.
Liquidity Buffer Facing Severe Compression
Based on the latest financial statements, cash and equivalents plummeted to $29.8M in 2025Q4 from a peak of $174.4M in 2023Q4, indicating a rapid depletion of the company's primary liquidity buffer that leaves little room for operational errors or unexpected market volatility in the near term.
While the current ratio remains at 3.72, the absolute cash position is alarmingly low relative to the company's historical burn rate. Investors should monitor this closely, as the current liquidity profile may necessitate dilutive financing to sustain operations through the next phase of clinical development.
Equity Quality Diminished by Losses
According to reported figures, retained earnings have deepened to a deficit of $594.8M as of 2026Q1, highlighting that the company's equity base is being systematically eroded by persistent net losses rather than being bolstered by profitable reinvestment or organic growth in its core proteomics platform.
The accumulation of such a significant deficit suggests that the company has yet to achieve the operating leverage required to turn its technological moat into shareholder value. This trend warrants further investigation into whether future growth can be achieved without further diluting existing equity holders.
Hidden Risks in Asset Composition
As evidenced by the balance sheet, the rise in goodwill to $26.7M in 2026Q1, despite the company's overall asset contraction, suggests that recent acquisitions may be masking underlying operational weaknesses and potentially exposing the firm to future impairment risks if these assets fail to deliver expected synergies.
The reliance on inorganic growth through acquisitions, while cash is simultaneously being depleted, appears to be a high-risk strategy that complicates the assessment of the company's true asset quality. Investors should be wary of the potential for future write-downs if these acquired assets do not contribute meaningfully to cash flow.