Quanterix Corporation (QTRX): Modelo de Negocio Canvas [Actualizado en Ene-2025]

En el panorama en rápida evolución del diagnóstico de precisión, Quanterix Corporation (QTRX) está a la vanguardia de la tecnología biomédica revolucionaria, transformando la forma en que los investigadores y los médicos detectan y comprenden enfermedades complejas. Aprovechando su innovador Simoa Plataforma de inmunoensayo digital, la compañía ha desarrollado un modelo de negocio innovador que une la investigación científica de vanguardia con aplicaciones médicas prácticas, que ofrece una sensibilidad sin precedentes en la detección de proteínas que podrían modificar nuestra comprensión de las condiciones neurodegenerativas e inflamatorias. Esta exploración del lienzo de modelo de negocio de Quanterix revela un enfoque estratégico que combina la innovación tecnológica, la experiencia científica y el compromiso del mercado objetivo para impulsar soluciones transformadoras de atención médica.

Quanterix Corporation (QTRX) - Modelo de negocios: asociaciones clave

Colaboraciones estratégicas con instituciones de investigación farmacéutica y de biotecnología

Quanterix mantiene asociaciones estratégicas con las siguientes instituciones de investigación:

Institución	Enfoque de asociación	Año establecido
Escuela de Medicina de Harvard	Investigación de biomarcadores de enfermedad neurodegenerativa	2019
Hospital General de Massachusetts	Aplicaciones de neurociencia de tecnología Simoa	2017

Asociaciones con centros médicos académicos y organizaciones de investigación clínica

Quanterix colabora con múltiples organizaciones de investigación clínica:

• Universidad de California, San Francisco - Investigación neurológica
• Clínica Cleveland - Desarrollo de diagnóstico de precisión
• Memorial Sloan Kettering Cancer Center - Investigación de biomarcadores de oncología

Proveedores de equipos de diagnóstico y tecnología

La tecnología clave y las asociaciones de equipos incluyen:

Proveedor	Tecnología/equipo	Valor de contrato
Thermo Fisher Scientific	Instrumentos de diagnóstico de precisión	Contrato anual de $ 3.2 millones
Tecnologías de Agilent	Sistemas de automatización de laboratorio	Contrato anual de $ 2.7 millones

Acuerdos de colaboración con empresas de diagnóstico de atención médica global

Asociaciones de diagnóstico de atención médica global:

• Roche Diagnostics - Desarrollo de biomarcadores neurológicos
• Healthineers de Siemens - Integración de tecnología de diagnóstico avanzada
• Abbott Laboratories - Investigación de medicina de precisión

Alianzas de investigación y desarrollo con redes de investigación de neurociencia y oncología

Colaboraciones de redes de I + D:

Red de investigaciones	Enfoque de investigación	Compromiso de financiación
Instituto Nacional de Trastornos Neurológicos y accidente cerebrovascular	Investigación de biomarcadores de Alzheimer	Subvención de investigación de $ 4.5 millones
Sociedad Americana del Cáncer	Tecnología de detección de cáncer temprano	$ 3.8 millones de fondos de investigación

Quanterix Corporation (QTRX) - Modelo de negocio: actividades clave

Desarrollo de tecnología de detección de proteínas ultra sensible

Quanterix invirtió $ 31.4 millones en gastos de I + D para el año fiscal 2022, centrándose en el desarrollo de la plataforma de tecnología Simoa.

Parámetro tecnológico	Especificación
Sensibilidad a la detección	Hasta 1000x más sensible que los métodos ELISA tradicionales
Rango de medición de proteínas	0.1 pg/ml a 1000 ng/ml

Comercialización de plataformas de inmunoensayo digital

Quanterix generó $ 125.7 millones en ingresos totales para 2022, con una contribución significativa de las ventas de plataformas de inmunoensayo digital.

• Analizador Simoa HD-X
• Analizador Simoa SR-X
• Plataformas de inmunoensayo digital totalmente automatizadas

Investigación continua en diagnóstico de enfermedad neurodegenerativa

Área de enfoque de investigación	Inversión
Investigación de biomarcadores de Alzheimer	$ 12.6 millones asignados en 2022
Diagnóstico de desorden neurológico	3 asociaciones de investigación activa

Fabricación de instrumentos de prueba de diagnóstico de alta precisión

La capacidad de fabricación se expandió para apoyar la demanda del mercado global con instalaciones de producción en Lexington, Massachusetts.

• ISO 13485: procesos de fabricación certificados de 2016
• Capacidad de producción anual de 500 instrumentos Simoa

Soporte técnico y capacitación del cliente

Quanterix mantuvo un equipo de atención al cliente dedicado de 47 especialistas técnicos en 2022.

Servicio de apoyo	Cobertura
Soporte técnico global	Servicio 24/7 en 35 países
Programas de capacitación	Más de 150 talleres científicos realizados

Quanterix Corporation (QTRX) - Modelo de negocio: recursos clave

Plataforma de tecnología de inmunoensayo digital Simoa patentado

La plataforma de tecnología Simoa de Quanterix permite la detección de proteínas ultra sensibles con las siguientes especificaciones:

Métrica de tecnología	Especificación de rendimiento
Sensibilidad a la detección	Hasta 1000x más sensible que los métodos ELISA tradicionales
Rango de medición de proteínas	0.1 pg/ml a 10,000 pg/ml
Capacidad de multiplexación	Hasta 10 proteínas simultáneamente

Talento científico y técnico altamente especializado

Quanterix emplea personal especializado con antecedentes científicos avanzados:

• Investigadores a nivel de doctorado: aproximadamente el 35% de la fuerza laboral total
• Total de empleados a partir de 2023: 308
• Personal de I + D: aproximadamente el 40% de la fuerza laboral total

Cartera de propiedad intelectual extensa

Categoría de IP	Número de activos
Patentes totales otorgadas	87
Aplicaciones de patentes pendientes	42
Cobertura de patentes geográficas	Estados Unidos, Europa, Asia

Investigaciones avanzadas y instalaciones de desarrollo

Ubicación: Lexington, Massachusetts

• Espacio total de la instalación de I + D: 55,000 pies cuadrados
• Inversión anual de I + D: $ 41.2 millones (año fiscal 2022)
• R&D Gastos porcentaje de ingresos: 64.3%

Sofisticados equipos de laboratorio e infraestructura de prueba

Categoría de equipo	Cantidad
Analizadores SIMOA HD-X	38
Plataformas ELISA digitales	22
Instrumentos microfluídicos de alta precisión	15

Quanterix Corporation (QTRX) - Modelo de negocio: propuestas de valor

Tecnología de medición de proteínas ultra sensible

La tecnología Quanterix Simoa permite la detección de proteínas en 1,000x más sensible que los métodos ELISA tradicionales. A partir de 2024, la plataforma puede detectar proteínas a concentraciones tan bajas como 0.1 pg/ml.

Métrica de tecnología	Valor de rendimiento
Sensibilidad a la detección	0.1 pg/ml
Rango de medición de proteínas	10^-3 a 10^4 pg/ml
Se requiere volumen de muestra	10-50 μl

Capacidades de detección temprana

Quanterix se centra en los biomarcadores de enfermedades neurodegenerativas e inflamatorias con capacidades probadas en:

• Detección de enfermedades de Alzheimer
• Monitoreo de lesiones cerebrales traumáticas
• Investigación de neuroinflamación

Soluciones de diagnóstico de precisión

El analizador HD-X de la compañía proporciona mediciones cuantitativas de proteínas con Coeficiente de variación (CV) por debajo del 10%.

Parámetro de diagnóstico	Especificación de rendimiento
Precisión de medición	CV < 10%
Capacidad de multiplexación	Hasta 10 proteínas simultáneamente

Sensibilidad mejorada en comparación con los métodos tradicionales

La tecnología SIMOA demuestra una sensibilidad superior en múltiples plataformas de detección de proteínas.

• 1,000x más sensible que la Elisa tradicional
• Detecta proteínas en concentraciones picomolares
• Requiere un volumen de muestra mínimo

Detección de biomarcadores de medicina personalizada

A partir de 2024, Quanterix admite más de 300 ensayos distintos de biomarcadores de proteínas en múltiples dominios de investigación.

Categoría de biomarcador	Número de ensayos
Marcadores neurodegenerativos	127
Marcadores inflamatorios	85
Marcadores oncológicos	58

Quanterix Corporation (QTRX) - Modelo de negocios: relaciones con los clientes

Compromiso directo del equipo de ventas con instituciones de investigación

Quanterix mantiene un equipo de ventas dedicado dirigido a instituciones de investigación con ingresos anuales de ventas de $ 93.5 millones en 2022. El equipo se centra en centros de investigación académicos, compañías farmacéuticas y organizaciones de biotecnología.

Segmento de clientes	Frecuencia de compromiso	Valor de contrato promedio
Centros de investigación académicos	Trimestral	$250,000
Compañías farmacéuticas	By-anualmente	$475,000
Organizaciones de biotecnología	Mensual	$350,000

Soporte técnico y servicios de consulta

Quanterix proporciona Soporte técnico 24/7 con un equipo dedicado de 45 profesionales de apoyo científico especializados.

• Tiempo de respuesta promedio: 2.5 horas
• Tasa de satisfacción del cliente: 94%
• Sesiones de consulta técnica: 1.200 por año

Programas de capacitación para profesionales científicos y médicos

La compañía ofrece programas de capacitación integrales con 87 sesiones de talleres estructurados en 2022.

Tipo de entrenamiento	Número de sesiones	Participantes
Seminarios web en línea	52	1,450
Talleres en persona	35	780

Plataformas de atención al cliente en línea

Quanterix opera múltiples canales de soporte digital con Tasa de participación digital del 95%.

• Usuarios del portal de clientes: 3.200
• Artículos de la base de conocimiento en línea: 450
• Tiempo promedio de resolución de boletos de soporte digital: 16 horas

Asociaciones de investigación colaborativa

Quanterix ha establecido 22 asociaciones de investigación colaborativa activa en 2022, generando ingresos de desarrollo de la investigación complementaria.

Tipo de asociación	Número de asociaciones	Valor de asociación estimado
Colaboraciones académicas	12	$ 3.2 millones
Asociaciones farmacéuticas	8	$ 5.7 millones
Colaboraciones de biotecnología	2	$ 1.5 millones

Quanterix Corporation (QTRX) - Modelo de negocios: canales

Fuerza de ventas directa dirigida a laboratorios de investigación

Quanterix emplea a un equipo de ventas dedicado centrado en laboratorios de investigación, con 37 representantes de ventas directas a partir del cuarto trimestre de 2023. La fuerza de ventas se dirige a instituciones académicas, compañías farmacéuticas y centros de investigación de biotecnología.

Categoría de canal de ventas	Número de instituciones objetivo	Tasa de penetración anual
Instituciones de investigación académica	268	42%
Compañías farmacéuticas	87	55%
Centros de investigación de biotecnología	129	38%

Conferencias científicas y ferias comerciales de la industria

Quanterix participa en 24 conferencias científicas principales anualmente, con una participación directa estimada de 3.412 profesionales de investigación en 2023.

• Conferencias de neurociencia: 8 eventos
• Simposios de investigación de oncología: 6 eventos
• Conferencias de inmunología: 5 eventos
• CUMBRAS DE MEDICINA DE PRECISICIÓN: 5 EVENTOS

Marketing digital y publicaciones científicas en línea

Presupuesto de marketing digital para 2023: $ 1.2 millones, con anuncios de publicación científica en línea específicas que alcanzan aproximadamente 57,000 profesionales de la investigación.

Canal de marketing digital	Alcance anual	Tasa de compromiso
Networks científicas de LinkedIn	42,000 profesionales	3.7%
Anuncios de publicación científica	15,000 investigadores	2.9%

Seminarios web y eventos de demostración técnica

En 2023, Quanterix realizó 36 seminarios técnicos con una asistencia promedio de 214 profesionales de investigación por evento.

Asociaciones con distribuidores de equipos científicos

Quanterix mantiene asociaciones con 17 distribuidores de equipos científicos en América del Norte, Europa y Asia, que representan una red de distribución global.

Región geográfica	Número de distribuidores	Cobertura del mercado
América del norte	7	45%
Europa	6	32%
Asia-Pacífico	4	23%

Quanterix Corporation (QTRX) - Modelo de negocio: segmentos de clientes

Instituciones de investigación académica

Quanterix atiende a 278 instituciones de investigación académica a nivel mundial a partir de 2023. Valor promedio de contrato de investigación anual: $ 124,500.

Tipo de institución	Número de clientes	Valor anual promedio del contrato
Universidades de investigación de primer nivel	87	$156,200
Centros de investigación médica	124	$98,750

Organizaciones de investigación farmacéutica

Quanterix apoya 62 organizaciones de investigación farmacéutica en 2024.

• Los 10 mejores clientes farmacéuticos generan $ 14.3 millones en ingresos anuales
• Duración promedio del contrato: 2.4 años
• Centrado en plataformas de investigación neurodegenerativa y oncológica

Laboratorios de diagnóstico clínico

Total de Laboratorio de Diagnóstico Clínico CLIENDES: 193 a partir del cuarto trimestre de 2023.

Categoría de laboratorio	Conteo de clientes	Ingresos anuales promedio por cliente
Laboratorios hospitalarios	87	$215,000
Laboratorios clínicos independientes	106	$178,500

Centros de investigación de neurociencia y oncología

Segmento de clientes dedicado: 46 centros de investigación especializados en 2024.

• Centros de neurociencia: 28
• Centros de investigación de oncología: 18
• Ingresos anuales totales de este segmento: $ 9.7 millones

Compañías de biotecnología

Quanterix sirve a 97 compañías de biotecnología a nivel mundial en 2024.

Tamaño de la empresa	Número de clientes	Valor de contrato promedio
Grandes empresas de biotecnología	22	$475,000
Compañías de biotecnología pequeñas a medianas	75	$124,500

Quanterix Corporation (QTRX) - Modelo de negocio: estructura de costos

Inversión significativa en investigación y desarrollo

Para el año fiscal 2022, Quanterix reportó gastos de I + D de $ 68.2 millones, lo que representa el 57.4% de los gastos operativos totales.

Año	Gastos de I + D	Porcentaje de gastos operativos
2022	$ 68.2 millones	57.4%
2021	$ 61.5 millones	55.3%

Equipo científico especializado de alto costo

Las plataformas de tecnología de Quanterix Simoa requieren una inversión de capital sustancial.

• Analizador SIMOA HD -X: rango de costos estimado $ 250,000 - $ 500,000 por unidad
• Consumibles y reactivos especializados: aproximadamente $ 50,000 - $ 100,000 anuales por sitio de investigación

Gastos de adquisición y retención de talentos

Los gastos totales de personal para 2022 fueron de $ 94.3 millones, incluidos salarios, compensación basada en acciones y beneficios.

Categoría de gastos	Cantidad
Gastos totales de personal	$ 94.3 millones
Salario promedio (científico de investigación)	$120,000 - $180,000

Costos de fabricación y producción

Los gastos de fabricación para 2022 totalizaron $ 42.6 millones, lo que representa el 35.8% de los gastos operativos totales.

• Costos de materia prima: aproximadamente el 40-50% de los gastos de fabricación
• Costos operativos de la instalación de producción: $ 15-20 millones anuales

Infraestructura de marketing y ventas

Los gastos de marketing y ventas para 2022 fueron de $ 26.5 millones, lo que representa el 22.3% de los gastos operativos totales.

Categoría de gastos de marketing	Cantidad
Gastos totales de marketing y ventas	$ 26.5 millones
Compensación del equipo de ventas	$ 12-15 millones
Campañas de marketing	$ 8-10 millones

Quanterix Corporation (QTRX) - Modelo de negocios: flujos de ingresos

Venta de instrumentos de prueba de diagnóstico

En el tercer trimestre de 2023, Quanterix reportó ventas de instrumentos de $ 8.7 millones, que representan un componente de ingresos clave. La plataforma Simoa HD-X Analyzer de la compañía sirve como una oferta de instrumentos primarios.

Tipo de instrumento	Rango de precios promedio	Volumen de ventas (2023)
Analizador Simoa HD-X	$250,000 - $350,000	24 unidades
Analizador SR-X	$150,000 - $225,000	12 unidades

Ingresos recurrentes de kits de prueba de consumo

Los kits de prueba de consumo generaron $ 17.2 millones en ingresos para Quanterix en 2023, lo que representa un flujo de ingresos recurrente significativo.

• Kits de prueba específicos de neurología: $ 7.5 millones
• Kits de prueba de oncología: $ 5.3 millones
• Kits de prueba de enfermedad inflamatoria: $ 4.4 millones

Contratos de servicio de investigación

Los contratos de servicio de investigación contribuyeron con $ 12.6 millones a los ingresos 2023 de Quanterix, con asociaciones clave en sectores de investigación farmacéutica y académica.

Tipo de contrato	Contribución de ingresos	Número de contratos
Investigación farmacéutica	$ 8.4 millones	17 contratos
Investigación académica	$ 4.2 millones	22 contratos

Licencias de tecnología patentada

La licencia de tecnología generó $ 3.5 millones en ingresos para Quanterix durante 2023.

• Licencias de tecnología de detección ultrasensible Simoa: $ 2.1 millones
• Licencias de plataforma ELISA digital: $ 1.4 millones

Financiación de la investigación colaborativa

La financiación de la investigación colaborativa ascendió a $ 6.3 millones en 2023, apoyando el desarrollo avanzado de tecnología de diagnóstico.

Categoría de socios de investigación	Monto de financiación	Enfoque de investigación
NIH Subvenciones	$ 3.2 millones	Investigación de enfermedades neurodegenerativas
Fundamentos de investigación privada	$ 2.1 millones	Descubrimiento de biomarcadores
Programas de investigación gubernamentales	$ 1.0 millones	Iniciativas de medicina de precisión

Quanterix Corporation (QTRX) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Quanterix Corporation's technology, which really boils down to unmatched sensitivity and accessibility. This is where the company creates its primary economic moat right now.

Ultra-sensitive detection of protein biomarkers in blood (1000x improvement)

The Simoa technology delivers a significant leap in analytical power. It allows researchers to measure proteins at levels previously unattainable. Specifically, the sensitivity is up to 1000x greater than conventional immunoassay techniques [cite: 1, 8 from second search]. This means detecting biomarkers at femtomolar levels, which is critical for finding signals in complex matrices like blood when the target is scarce.

Enabling early disease detection, especially for neurodegenerative diseases

This extreme sensitivity directly translates into clinical utility, particularly in neurology. For instance, in the Alzheimer's Diagnostics area, the company reported that revenues in that segment more than tripled year-over-year as of Q2 2025 [cite: 4, 6 from first search]. The goal is to make blood-based testing for neurodegenerative diseases standard clinical practice, supported by milestones like a positive Medicare pricing recommendation mentioned in late 2025 reports [cite: 1 from first search].

Integrated solution for both blood- and tissue-based protein biomarkers

Following the combination with Akoya Biosciences, Quanterix Corporation now offers an integrated platform. This creates the first integrated platform capable of measuring biomarkers across the blood and tissue continuum [cite: 4 from first search]. This dual capability broadens the utility across the entire drug development and diagnostic workflow.

Simoa ONE compatibility with over 20,000 existing flow cytometers

A major strategic move to increase adoption without requiring new capital expenditure from customers involves the Simoa ONE platform. Starting in 2026, an early access program will let customers use unlocked Simoa ONE assay kits on over 20,000 existing flow cytometers worldwide [cite: 1 from third search]. This drastically lowers the barrier to entry for using their ultra-sensitive assays.

High-quality, recurring consumables business with pro forma revenue of around $100 million

The recurring revenue stream from consumables is a cornerstone of the business model's stability. As of mid-2025, the company stated it built a franchise generating approximately $100 million of consumables revenue, on a pro forma basis [cite: 4, 5, 6, 8 from first search]. This recurring revenue supports the R&D investment necessary to maintain the technology lead.

Here's a quick look at the key financial and statistical metrics underpinning these value propositions as of late 2025:

Metric Category	Specific Metric	Value / Amount
Sensitivity Advantage	Improvement over standard immunoassays	1000x
Recurring Revenue	Pro Forma Consumables Revenue (Annualized Estimate)	$100 million
Market Access/Adoption	Simoa ONE compatible flow cytometers (Starting 2026)	Over 20,000
Financial Outlook (2025)	Full Year Pro Forma Revenue Guidance	$165 million to $170 million
Financial Performance (Q3 2025)	Total Reported Revenue	$40.2 million
Growth Indicator	Alzheimer's Diagnostics Revenue Growth (YoY, Q2 2025)	More than tripled

The combination of superior analytical performance and a strategy to make that performance accessible-either through integrated blood/tissue platforms or by leveraging existing flow cytometer bases-defines the current value proposition set for Quanterix Corporation.

Quanterix Corporation (QTRX) - Canvas Business Model: Customer Relationships

You're looking at how Quanterix Corporation keeps its key customers engaged, which is crucial given the near-term funding headwinds affecting academic spending.

Dedicated direct sales and technical support teams

Quanterix Corporation is structuring its customer-facing operations around its installed base and the recent Akoya Biosciences combination. As of September 30, 2025, the total employee count stood at 464 people. The company indicated in March 2025 that it expected to increase the size of its selling, general and administrative functions to support growth, which includes the sales and support personnel. The structure supports the entire customer lifecycle from instrument placement to ongoing service.

Here's a look at the employee breakdown from March 2025, which informs the scale of these dedicated teams:

Function Area	Employee Count (as of March 2025)
Sales, Sales Support, Field Service, Marketing	219
Engineering and Research and Development	27
Manufacturing and Operations	240
General and Administration	68
Total Full-Time Employees	471

The salary range for an Inside Sales Representative role is cited as $50,000 to $75,000, plus bonus and equity.

High-touch, collaborative relationships with key pharma/academic researchers

The relationship focus is clearly on driving adoption of the core Simoa technology and the new diagnostics pipeline. The Accelerator business, which relies on these close ties, saw its Q1 2025 revenue come in at $5.6 million. Still, this represented a significant year-over-year decrease of 36%, which management attributed to a decline in large pharma projects, suggesting project sizes are shrinking even if the customer count remains sticky. In Q2 2025, the Accelerator business reported a net increase in new customers, even with smaller project sizes due to constrained biopharma budgets.

Long-term service contracts through the Accelerator lab

The Accelerator lab provides a service component that generates recurring revenue, though it faced headwinds in early 2025. Accelerator revenue in Q4 2024 was approximately $8.6 million. For Q1 2025, Accelerator services accounted for 18% of total revenue, which was $5.6 million. Management is focused on the combined entity generating approximately $100 million of consumables revenue on a pro forma basis for 2025, which is the core recurring revenue stream.

Early access program for the new Simoa ONE platform

Quanterix Corporation is making a significant move to expand its reach without forcing immediate capital expenditure on customers. The Simoa ONE platform is slated for launch by the end of 2025. Through a new early-access program, Simoa ONE assay kits will be compatible with over 20,000 existing flow cytometers worldwide, starting in 2026. This strategy aims to dramatically expand the addressable installed base, which was 1,052 instruments as of Q1 2025.

Scientific consultation to drive assay adoption and publication

The scientific credibility built through external validation directly supports customer relationships and assay adoption. As of Q1 2025, Quanterix Corporation technology has powered research published in more than 3,400 peer-reviewed journals. The cumulative publication count specifically reached 3,445 by the end of Q1 2025. The company is also expanding its diagnostics reach, having obtained Proprietary Laboratory Analysis (PLA) codes for its LucentAD® and LucentAD Complete tests, with pricing expected in the third quarter of 2025.

The Alzheimer's Diagnostics revenues more than tripled year-over-year in Q2 2025.

Quanterix Corporation (QTRX) - Canvas Business Model: Channels

You're looking at how Quanterix Corporation gets its technology and services into the hands of researchers and clinicians as of late 2025. The channel strategy is a mix of direct high-touch sales, leveraging external partners, and offering direct lab services.

Direct sales force for high-capital instrument placement (e.g., HD-X)

The direct sales channel focuses on placing the capital equipment, like the Simoa HD-X Analyzer, which drives recurring consumable revenue. The installed base of Simoa instruments has been growing, though the pace of new placements can fluctuate with customer capital spending. As of the second quarter of 2025, the total installed base of Simoa instruments stood at 1,062 units. This represents growth from 708 units in 2021. In the third quarter of 2025 specifically, Quanterix placed 16 Simoa instruments and 27 Spatial instruments. Instrument revenue for Q3 2025 was $7.2 million, broken down into $2.5 million from Simoa instruments and $4.7 million from Spatial instruments.

Global network of distributors for instrument and consumable sales

To support global reach and the recurring consumable stream, Quanterix relies on a distributor network. While the exact size of this network isn't public, the strategy is clear: grow the installed base to increase consumables revenue, which dominated the revenue mix. Consumables revenue for Q3 2025 was $18.8 million, comprising $12.3 million from Simoa consumables and $6.5 million from Spatial consumables. The company stated an intent to continue growing this network throughout 2025. The success of this channel is tied to the installed base, which generates recurring revenue.

The key channel metrics for instrument adoption and service utilization through the first three quarters of 2025 look like this:

Channel Metric	Value/Period	Source/Context
Total Simoa Installed Base (as of Q2 2025)	1,062 units	End of Q2 2025
Simoa Instruments Placed (Q3 2025)	16 units	Q3 2025
Spatial Instruments Placed (Q3 2025)	27 units	Q3 2025
Accelerator Projects (YTD 2025)	275 projects	Year-to-Date as of Q2 2025
Accelerator Lab Revenue (Q3 2025)	$8 million	Q3 2025 total

CLIA-certified Accelerator lab for fee-for-service testing

The Accelerator lab serves as a fee-for-service channel, allowing customers to access the technology without immediate capital outlay, which is important when biopharma budgets are constrained. In Q1 2025, Accelerator lab revenue was $5.6 million. By Q3 2025, the Accelerator lab revenue grew to $8 million, with Simoa Accelerator lab revenue specifically at $5 million, showing sequential growth of $1 million in that segment for the quarter. Management noted they are already seeing an increase in the number of projects through this program.

Lab-enabled partnerships for decentralized diagnostic testing (e.g., in Asia)

Partnerships are crucial for expanding decentralized testing, especially in high-growth areas like Alzheimer's diagnostics. Quanterix is advancing this through several key relationships. They announced a collaboration with ARUP Laboratories, a national reference lab in the U.S., to offer a pTau217 blood test using the Quanterix platform. Furthermore, the company is actively expanding its international regulatory footprint and partnerships across Asia, noting that the UltraDx Plasma pTau-217 Assay Kit received medical device registration approval in South Korea in Q2 2025. A major strategic move to democratize access involves an early access program starting in 2026, where Simoa ONE assay kits will be compatible with over 20,000 existing flow cytometers worldwide, effectively leveraging a massive installed base outside of Quanterix's direct instrument placements.

Finance: finalize Q4 2025 cash flow projection based on Q3 burn rate by next Tuesday.

Quanterix Corporation (QTRX) - Canvas Business Model: Customer Segments

You're looking at the core users of Quanterix Corporation's ultra-sensitive biomarker detection technology, which, as of late 2025, is heavily influenced by the integration of Akoya Biosciences. The customer base is diverse, spanning pure research to clinical application, but the financial performance in 2025 shows clear pressure points in the research-heavy segments.

The business model targets customers across the spectrum of life sciences, from early discovery to late-stage diagnostics. Here's a breakdown of the key segments based on recent operational data:

Global Pharmaceutical and Biopharma companies (drug development)

This segment is critical, especially for high-throughput biomarker discovery and validation. You see their activity reflected in the Accelerator services, though budgets are tight. Pharma revenue specifically declined by 23% year-over-year in the third quarter of 2025. Still, consumables remain the backbone, with the combined franchise generating approximately $100 million of consumables revenue on a pro forma basis.

• Accelerator projects year-to-date in 2025 reached 275, up from 149 in 2021.
• However, revenue from Accelerator projects declined, reflecting smaller project sizes due to constrained biopharma budgets.
• The company is focused on driving new growth by combining Simoa's blood-based detection with Akoya's tissue-based spatial biology for oncology programs.

Academic and Government Research Institutions

This segment has been under significant funding pressure, which directly impacts instrument sales and service utilization. In the first quarter of 2025, U.S. academic revenue saw a substantial drop of approximately 30% year-over-year, tracking the decline in academic grants. The installed base of instruments, which serves this segment, has grown to 1,052 as of Q1 2025, up from 708 in 2021.

Contract Research Organizations (CROs)

While not explicitly broken out with separate financial metrics in the latest reports, CROs are integral users of the Accelerator services and high-throughput platforms, often serving the Pharma segment. The overall revenue mix shows consumables are the most resilient component, representing 60% of total revenue in Q1 2025. The company placed 16 SIMOA instruments in Q3 2025.

Clinical Diagnostics Laboratories and Hospital Networks

This is the emerging clinical segment, heavily driven by the Alzheimer's diagnostics push. The company reported that Alzheimer's Diagnostics revenues more than tripled year-over-year in the second quarter of 2025. The introduction of Simoa ONE assay kits, compatible with over 20,000 existing flow cytometers, is a direct strategy to penetrate this segment without requiring new capital equipment purchases.

Oncology and Immunology researchers (expanded focus post-Akoya)

The acquisition of Akoya Biosciences in 2025 solidified the focus on spatial biology, which is critical for oncology research. The Spatial business reported $17.2 million in revenue in Q3 2025. The combined entity aims to deliver integrated biology across blood (Simoa) and tissue (Spatial). The company placed 27 Spatial instruments in Q3 2025.

Here's a look at the revenue segmentation and key operational metrics as of late 2025:

Metric / Segment Focus	Value (Latest Reported Period)	Period Reference
Total Revenue	$40.2 million	Q3 2025
Simoa Revenue (Research/Blood Biomarkers)	$23 million	Q3 2025
Spatial Revenue (Tissue Biology/Oncology)	$17.2 million	Q3 2025
Consumables Revenue Share (Pro Forma)	Approximately $100 million (Annualized)	As of Q2 2025
Pharma Revenue Change	Declined 23% Year-over-Year	Q3 2025
U.S. Academic Revenue Change	Declined approximately 30%	Q3 2025
Instrument Placements (SIMOA)	16 units	Q3 2025
Instrument Placements (Spatial)	27 units	Q3 2025

The company is aggressively pursuing cost discipline, having already captured 67% of its $85 million in targeted annualized synergies from the Akoya transaction as of Q3 2025. This focus on efficiency is designed to support the customer segments while navigating the current funding environment, with a goal to achieve cash flow breakeven in 2026.

Quanterix Corporation (QTRX) - Canvas Business Model: Cost Structure

You're looking at the cost side of Quanterix Corporation's business model as of late 2025, post-Akoya Biosciences combination. The structure reflects heavy investment in innovation alongside aggressive post-merger cost-cutting.

High R&D expenses, with year-to-date investment of roughly $27 million

Quanterix Corporation is definitely keeping the innovation engine running. Year-to-date (YTD) through the third quarter of 2025, the investment in Research & Development (R&D) has been approximately $27 million. This spend represents just under 30% of the year-to-date revenue base, showing a commitment to advancing key franchises like Simoa One and Alzheimer's diagnostics, even while integrating a major acquisition.

Cost of Goods Sold (COGS) for instruments and high-margin consumables

The Cost of Goods Sold (COGS) directly impacts the gross margin, which is a key focus area following the accounting alignment with Akoya Biosciences. For the third quarter of 2025, the GAAP Gross Margin settled at 42.8%, translating to a GAAP Gross Profit of $17.2 million on total revenue of $40.2 million. The high-margin consumables business forms a significant part of the cost structure story; the pro forma consumables revenue base is generating approximately $100 million annually. In Q3 2025 specifically, consumable revenue was $18.8 million, while instrument revenue was $7.2 million. The adjusted (non-GAAP) gross margin was 45.9% for the quarter.

Sales, General, and Administrative (SG&A) expenses for global commercialization

The costs associated with getting the combined platform to market are substantial, particularly with the integration of a global commercial team. Total Operating Expenses for the third quarter of 2025 hit $54.5 million. To get a clearer view of the underlying operational spend, Non-GAAP Operating Expenses were $38.2 million in Q3 2025. Looking back at Q2 2025, the Selling, General and Administrative (SG&A) expense was $31.4 million, which was noted as being up 30% due to non-recurring acquisition costs.

Here's a quick look at the Q3 2025 expense components, keeping in mind the integration costs:

Expense Category	Q3 2025 Amount (USD)	Notes
Total Operating Expenses	$54.5 million	GAAP basis for the quarter.
Non-GAAP Operating Expenses	$38.2 million	Excludes certain items for trend analysis.
R&D Expense (YTD)	$27 million	Year-to-date investment as of Q3 2025.
Acquisition/Integration/Restructuring Costs (Q3)	$15 million	Included within Q3 Operating Expenses.
SG&A Expense (Q2)	$31.4 million	Reported for the prior quarter.

Integration and restructuring costs to achieve $85 million in synergies

A major cost driver is the one-time expense related to the Akoya combination, which is being offset by expected efficiencies. Quanterix Corporation is targeting $85 million in annualized synergies and cost reductions. By the end of the third quarter, management reported that $67 million of this total $\mathbf{\$85}$ million annualized cost reduction had already been implemented. These integration efforts are critical to the plan to achieve cash flow breakeven in 2026. The immediate impact of this work shows up in the quarterly charges; for instance, Q3 included $15 million in costs related to acquisition, integration, restructuring and purchase accounting.

Operating costs for the CLIA-certified Accelerator lab

The CLIA-certified Accelerator lab represents a service-based cost center that is scaling up. While specific operating costs for this lab aren't broken out, its scale can be inferred from its revenue contribution. The Accelerator business reported revenue of $8 million in the third quarter of 2025. This segment is showing growth, with a net increase in new customers during the quarter, even with smaller project sizes due to biopharma budget constraints.

• The company consolidated four manufacturing and lab facilities into two main sites in Billerica and Burlington, Massachusetts, as part of the integration.
• The overall goal is to exit 2025 with approximately $120 million in cash and no debt.

Finance: draft 13-week cash view by Friday.

Quanterix Corporation (QTRX) - Canvas Business Model: Revenue Streams

You're looking at the financial engine of Quanterix Corporation as of late 2025, specifically how the company brings in cash across its platforms and services. Honestly, the streams are showing a clear hierarchy, especially post-Akoya integration.

The largest and most resilient stream is definitely the sale of Consumables and Reagents. This high-margin component is the bedrock, even when capital equipment sales slow down. For instance, in the third quarter of 2025, Consumable revenue hit $18.8 million, which was split between $12.3 million from Simoa and $6.5 million from Spatial consumables. Back in Q1 2025, this segment was already the dominant force, making up 60% of total revenue at $18.1 million. Management has publicly highlighted this as their "$100M high-margin consumables business" showing resiliency despite market pressures.

Next up, you have Instrument sales, covering both the Simoa and Spatial platforms. These are the upfront capital purchases. In Q3 2025, Instrument revenue totaled $7.2 million, broken down into $2.5 million for Simoa instruments and $4.7 million for Spatial instruments. The placement activity in that quarter included 16 Simoa and 27 Spatial instruments. To give you context on the relative size, in Q2 2025, instruments only accounted for 8% of the total revenue mix.

The Accelerator lab service revenue, which is essentially fee-for-service testing, provides a steady recurring component. For Q3 2025, Accelerator lab revenue was $8 million, with $5 million coming from Simoa and $3 million from Spatial. The Simoa Accelerator lab revenue specifically showed sequential growth, increasing by $1 million over the prior quarter. This stream represented 16% of total revenue in Q2 2025.

The emerging, high-potential stream is Diagnostics revenue, driven by tests like LucentAD. This segment is showing rapid growth; in Q2 2025, diagnostics revenues more than tripled year-over-year. By Q3 2025, diagnostics-related revenue reached $2.4 million. Critically for future valuation, the preliminary Centers for Medicare & Medicaid Services (CMS) Clinical Lab Fee Schedule listed the maximum reimbursement for the LucentAD Alzheimer blood biomarker test at approximately $897 per test.

Here is a quick look at how these streams contributed to the overall picture in Q3 2025, based on the reported total revenue of $40.2 million for that quarter (Note: This Q3 total is different from the full-year guidance context, which includes Akoya for two quarters):

Revenue Stream Category	Q3 2025 Reported Revenue Amount	Q3 2025 Percentage of Total (Approximate)
Consumables Revenue	$18.8 million	46.8%
Accelerator Lab Revenue	$8 million	19.9%
Instrument Revenue	$7.2 million	17.9%
Diagnostics Revenue	$2.4 million	6.0%

The company's official full-year 2025 revenue guidance, reflecting the inclusion of about two quarters of Akoya performance, is set in a range of $130 million to $135 million. This guidance implies that the Simoa business alone is expected to contribute approximately $100 million to $105 million. If you look at the pro forma basis-assuming both companies were combined for the entire year-Quanterix expects to generate between $165 million and $170 million in revenue for 2025. The expected GAAP gross margin for the full year is targeted between 49% to 53%, though the Q3 actual GAAP gross margin was lower at 42.8%.

You should keep the following breakdown of revenue contribution in mind, based on Q1 2025 data, as it shows the historical weighting before the full Akoya integration effect:

• Consumables revenue: 60%
• Accelerator services: 18%
• Other revenue: 13%
• Instruments: 9%

The company is defintely navigating a complex revenue mix as it integrates Spatial and pushes diagnostics adoption.

Finance: draft 13-week cash view by Friday.