Quanteix Corporation (QTRX): modelo de negócios [Jan-2025 Atualizado]

No cenário em rápida evolução do diagnóstico de precisão, a Quanteix Corporation (QTRX) fica na vanguarda da tecnologia biomédica revolucionária, transformando como pesquisadores e médicos detectam e entendem doenças complexas. Aproveitando sua inovação SIMOA Plataforma de imunoensaio digital, a empresa desenvolveu um modelo de negócios inovador que preenche a pesquisa científica de ponta com aplicações médicas práticas, oferecendo sensibilidade sem precedentes na detecção de proteínas que poderia potencialmente remodelar nossa compreensão das condições neurodegenerativas e inflamatórias. Essa exploração do modelo de negócios da Quanteix, Canvas, revela uma abordagem estratégica que combina inovação tecnológica, experiência científica e envolvimento do mercado direcionado para impulsionar soluções transformadoras de saúde.

Quanteix Corporation (QTRX) - Modelo de negócios: Parcerias -chave

Colaborações estratégicas com instituições de pesquisa farmacêutica e biotecnológica

O Quanterix mantém parcerias estratégicas com as seguintes instituições de pesquisa:

Instituição	Foco em parceria	Ano estabelecido
Escola de Medicina de Harvard	Pesquisa de biomarcadores de doenças neurodegenerativas	2019
Hospital Geral de Massachusetts	Aplicações de neurociência de tecnologia SIMOA	2017

Parcerias com centros médicos acadêmicos e organizações de pesquisa clínica

O Quanteix colabora com várias organizações de pesquisa clínica:

• Universidade da Califórnia, São Francisco - Pesquisa Neurológica
• Cleveland Clinic - Desenvolvimento de diagnóstico de precisão
• Memorial Sloan Kettering Cancer Center - Oncologia Biomarker Research

Equipamentos de diagnóstico e fornecedores de tecnologia

As principais parcerias de tecnologia e equipamentos incluem:

Fornecedor	Tecnologia/equipamento	Valor do contrato
Thermo Fisher Scientific	Instrumentos de diagnóstico de precisão	Contrato anual de US $ 3,2 milhões
Tecnologias Agilent	Sistemas de automação de laboratório	Contrato anual de US $ 2,7 milhões

Acordos colaborativos com empresas globais de diagnóstico de saúde

Parcerias de diagnóstico globais de saúde:

• Roche Diagnostics - Desenvolvimento Neurológico de Biomarcadores
• Siemens Healthineers - Integração avançada de tecnologia de diagnóstico
• Abbott Laboratories - Research de Medicina de Precisão

Pesquisa e desenvolvimento Alianças com redes de pesquisa de neurociência e oncologia

Colaborações de rede de P&D:

Rede de pesquisa	Foco na pesquisa	Compromisso de financiamento
Instituto Nacional de Distúrbios Neurológicos e AVC	Pesquisa de biomarcadores de Alzheimer	Granta de pesquisa de US $ 4,5 milhões
American Cancer Society	Tecnologia precoce de detecção de câncer	Financiamento de pesquisa de US $ 3,8 milhões

Quanteix Corporation (QTRX) - Modelo de negócios: Atividades -chave

Desenvolvimento de tecnologia de detecção de proteínas ultra-sensíveis

A Quanteix investiu US $ 31,4 milhões em despesas de P&D no ano fiscal de 2022, concentrando -se no desenvolvimento da plataforma de tecnologia SIMOA.

Parâmetro de tecnologia	Especificação
Sensibilidade à detecção	Até 1000x mais sensíveis que os métodos tradicionais da ELISA
Faixa de medição de proteínas	0,1 pg/ml a 1000 ng/ml

Comercialização de plataformas de imunoensaio digital

A Quanteix gerou US $ 125,7 milhões em receita total para 2022, com uma contribuição significativa das vendas da plataforma de imunoensaio digital.

• Analisador SIMOA HD-X.
• Analisador SIMOA SR-X.
• Plataformas de imunoensaio digital totalmente automatizadas

Pesquisa contínua em diagnóstico de doenças neurodegenerativas

Área de foco de pesquisa	Investimento
Pesquisa de biomarcadores de Alzheimer	US $ 12,6 milhões alocados em 2022
Diagnóstico do Transtorno Neurológico	3 parcerias de pesquisa ativas

Fabricação de instrumentos de teste de diagnóstico de alta precisão

A capacidade de fabricação expandida para apoiar a demanda global do mercado com instalações de produção em Lexington, Massachusetts.

• ISO 13485: 2016 Processos de fabricação certificados
• Capacidade anual de produção de 500 instrumentos SIMOA

Suporte técnico e treinamento do cliente

A Quanterix manteve uma equipe de suporte ao cliente dedicada de 47 especialistas técnicos em 2022.

Serviço de suporte	Cobertura
Suporte técnico global	Serviço 24/7 em 35 países
Programas de treinamento	Mais de 150 oficinas científicas realizadas

Quanteix Corporation (QTRX) - Modelo de negócios: Recursos -chave

Plataforma de tecnologia de imunoensaio digital do SIMOA

A plataforma de tecnologia SIMOA da Quanteix permite a detecção de proteínas ultra-sensíveis com as seguintes especificações:

Métrica de tecnologia	Especificação de desempenho
Sensibilidade à detecção	Até 1000x mais sensíveis que os métodos tradicionais da ELISA
Faixa de medição de proteínas	0,1 pg/ml a 10.000 pg/ml
Capacidade multiplexadora	Até 10 proteínas simultaneamente

Talento científico e técnico altamente especializado

A Quanteix emprega pessoal especializado com origens científicas avançadas:

• Pesquisadores no nível de doutorado: aproximadamente 35% da força de trabalho total
• Total de funcionários a partir de 2023: 308
• Pessoal de P&D: aproximadamente 40% da força de trabalho total

Portfólio de propriedade intelectual extensa

Categoria IP	Número de ativos
Total de patentes concedidas	87
Aplicações de patentes pendentes	42
Cobertura de patente geográfica	Estados Unidos, Europa, Ásia

Instalações avançadas de pesquisa e desenvolvimento

Localização: Lexington, Massachusetts

• Espaço total da instalação de P&D: 55.000 pés quadrados
• Investimento anual de P&D: US $ 41,2 milhões (2022 ano fiscal)
• Porcentagem de despesas de P&D: 64,3%

Equipamentos de laboratório sofisticados e infraestrutura de teste

Categoria de equipamento	Quantidade
Analisadores SIMOA HD-X	38
Plataformas ELISA digitais	22
Instrumentos microfluídicos de alta precisão	15

Quanteix Corporation (QTRX) - Modelo de Negócios: Proposições de Valor

Avanço de tecnologia de medição de proteínas ultra-sensíveis

A tecnologia Quanteix SIMOA permite a detecção de proteínas em 1.000x mais sensível do que os métodos tradicionais de ELISA. A partir de 2024, a plataforma pode detectar proteínas em concentrações tão baixas quanto 0,1 pg/ml.

Métrica de tecnologia	Valor de desempenho
Sensibilidade à detecção	0,1 pg/ml
Faixa de medição de proteínas	10^-3 a 10^4 pg/ml
Volume de amostra necessário	10-50 μl

Capacidades de detecção precoces

O Quanteix se concentra em biomarcadores de doenças neurodegenerativas e inflamatórias com capacidades comprovadas em:

• Detecção da doença de Alzheimer
• Monitoramento traumático de lesão cerebral
• Pesquisa de neuroinflamação

Soluções de diagnóstico de precisão

O analisador HD-X da empresa fornece medições quantitativas de proteínas com Coeficiente de variação (CV) abaixo de 10%.

Parâmetro de diagnóstico	Especificação de desempenho
Precisão de medição	cv < 10%
Capacidade multiplexadora	Até 10 proteínas simultaneamente

Sensibilidade aprimorada em comparação com os métodos tradicionais

A tecnologia SIMOA demonstra sensibilidade superior em várias plataformas de detecção de proteínas.

• 1.000x mais sensível que o ELISA tradicional
• Detecta proteínas em concentrações picomolares
• Requer volume mínimo de amostra

Detecção de biomarcadores de medicina personalizada

A partir de 2024, o Quanteix suporta mais de 300 ensaios distintos de biomarcadores de proteínas em vários domínios de pesquisa.

Categoria de Biomarcadores	Número de ensaios
Marcadores neurodegenerativos	127
Marcadores inflamatórios	85
Marcadores de oncologia	58

Quanteix Corporation (QTRX) - Modelo de negócios: Relacionamentos do cliente

Equipe direta da equipe de vendas com instituições de pesquisa

A Quanterix mantém uma equipe de vendas dedicada direcionada a instituições de pesquisa com receita anual de vendas de US $ 93,5 milhões em 2022. A equipe se concentra em centros de pesquisa acadêmica, empresas farmacêuticas e organizações de biotecnologia.

Segmento de clientes	Frequência de engajamento	Valor médio do contrato
Centros de pesquisa acadêmica	Trimestral	$250,000
Empresas farmacêuticas	Bi-semestralmente	$475,000
Organizações de biotecnologia	Mensal	$350,000

Serviços de suporte técnico e consulta

O Quanterix fornece Suporte técnico 24/7 com uma equipe dedicada de 45 profissionais de apoio científico especializados.

• Tempo médio de resposta: 2,5 horas
• Taxa de satisfação do cliente: 94%
• Sessões de consulta técnica: 1.200 por ano

Programas de treinamento para profissionais científicos e médicos

A empresa oferece programas de treinamento abrangentes com 87 sessões de oficina estruturada em 2022.

Tipo de treinamento	Número de sessões	Participantes
Webinars online	52	1,450
Workshops pessoais	35	780

Plataformas de suporte ao cliente online

Quanteix opera vários canais de suporte digital com Taxa de engajamento digital de 95%.

• Usuários do portal de clientes: 3.200
• Artigos da base de conhecimento on -line: 450
• Tempo médio de resolução do ticket de suporte digital: 16 horas

Parcerias de pesquisa colaborativa

A Quanteix estabeleceu 22 parcerias de pesquisa colaborativa ativa em 2022, gerando receitas de desenvolvimento de pesquisa suplementares.

Tipo de parceria	Número de parcerias	Valor estimado da parceria
Colaborações acadêmicas	12	US $ 3,2 milhões
Parcerias farmacêuticas	8	US $ 5,7 milhões
Colaborações de biotecnologia	2	US $ 1,5 milhão

Quanteix Corporation (QTRX) - Modelo de Negócios: Canais

Laboratórios de pesquisa de segmentação por força de vendas diretas

A Quanteix emprega uma equipe de vendas dedicada focada em laboratórios de pesquisa, com 37 representantes de vendas diretas a partir do quarto trimestre 2023. A força de vendas tem como alvo instituições acadêmicas, empresas farmacêuticas e centros de pesquisa de biotecnologia.

Categoria de canal de vendas	Número de instituições -alvo	Taxa de penetração anual
Instituições de pesquisa acadêmica	268	42%
Empresas farmacêuticas	87	55%
Centros de pesquisa de biotecnologia	129	38%

Conferências científicas e feiras de comércio da indústria

O Quanteix participa de 24 principais conferências científicas anualmente, com um engajamento direto estimado de 3.412 profissionais de pesquisa em 2023.

• Conferências de neurociência: 8 eventos
• Simpósios de pesquisa de oncologia: 6 eventos
• Conferências de imunologia: 5 eventos
• Cúpulas de Medicina de Precisão: 5 eventos

Marketing digital e publicações científicas on -line

Orçamento de marketing digital para 2023: US $ 1,2 milhão, com anúncios de publicação científica on -line direcionados atingindo aproximadamente 57.000 profissionais de pesquisa.

Canal de marketing digital	Alcance anual	Taxa de engajamento
Redes científicas do LinkedIn	42.000 profissionais	3.7%
Anúncios de publicação científica	15.000 pesquisadores	2.9%

Webinars e eventos de demonstração técnica

Em 2023, a Quanteix conduziu 36 seminários on -line técnicos com uma participação média de 214 profissionais de pesquisa por evento.

Parcerias com distribuidores de equipamentos científicos

A Quanteix mantém parcerias com 17 distribuidores de equipamentos científicos na América do Norte, Europa e Ásia, representando uma rede de distribuição global.

Região geográfica	Número de distribuidores	Cobertura de mercado
América do Norte	7	45%
Europa	6	32%
Ásia-Pacífico	4	23%

Quanteix Corporation (QTRX) - Modelo de negócios: segmentos de clientes

Instituições de pesquisa acadêmica

O Quanterix atende 278 instituições de pesquisa acadêmica globalmente a partir de 2023. Valor médio de contrato de pesquisa anual: US $ 124.500.

Tipo de instituição	Número de clientes	Valor médio anual do contrato
Universidades de pesquisa de primeira linha	87	$156,200
Centros de Pesquisa Médica	124	$98,750

Organizações de pesquisa farmacêutica

O Quanteix suporta 62 organizações de pesquisa farmacêutica em 2024.

• Os 10 principais clientes farmacêuticos geram US $ 14,3 milhões em receita anual
• Duração média do contrato: 2,4 anos
• Focado em plataformas de pesquisa neurodegenerativa e oncológica

Laboratórios de Diagnóstico Clínico

Total de Laboratório de Diagnóstico Clínico Clientes: 193 A partir do quarto trimestre 2023.

Categoria de laboratório	Contagem de clientes	Receita média anual por cliente
Laboratórios hospitalares	87	$215,000
Laboratórios clínicos independentes	106	$178,500

Centros de pesquisa em neurociência e oncologia

Segmento de clientes dedicado: 46 centros de pesquisa especializados em 2024.

• Centros de neurociência: 28
• Centros de Pesquisa Oncológica: 18
• Receita anual total deste segmento: US $ 9,7 milhões

Empresas de biotecnologia

A Quanterix atende 97 empresas de biotecnologia globalmente em 2024.

Tamanho da empresa	Número de clientes	Valor médio do contrato
Grandes empresas de biotecnologia	22	$475,000
Empresas de biotecnologia pequenas a médias	75	$124,500

Quanteix Corporation (QTRX) - Modelo de negócios: Estrutura de custos

Investimento significativo em pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Quanteix registrou despesas de P&D de US $ 68,2 milhões, representando 57,4% do total de despesas operacionais.

Ano	Despesas de P&D	Porcentagem de despesas operacionais
2022	US $ 68,2 milhões	57.4%
2021	US $ 61,5 milhões	55.3%

Equipamento científico especializado de alto custo

As plataformas de tecnologia da Quanteix SIMOA exigem investimentos substanciais de capital.

• Analisador SIMOA HD -X: varia de custo estimado $ 250.000 - US $ 500.000 por unidade
• Consumíveis e reagentes especializados: aproximadamente US $ 50.000 - US $ 100.000 anualmente por site de pesquisa

Despesas de aquisição e retenção de talentos

As despesas totais de pessoal para 2022 foram de US $ 94,3 milhões, incluindo salários, remuneração baseada em ações e benefícios.

Categoria de despesa	Quantia
Total de despesas de pessoal	US $ 94,3 milhões
Salário médio (cientista de pesquisa)	$120,000 - $180,000

Custos de fabricação e produção

As despesas de fabricação de 2022 totalizaram US $ 42,6 milhões, representando 35,8% do total de despesas operacionais.

• Custos de matéria-prima: aproximadamente 40-50% das despesas de fabricação
• Custos operacionais da instalação de produção: US $ 15-20 milhões anualmente

Infraestrutura de marketing e vendas

As despesas de marketing e vendas de 2022 foram de US $ 26,5 milhões, representando 22,3% do total de despesas operacionais.

Categoria de despesa de marketing	Quantia
Despesas totais de marketing e vendas	US $ 26,5 milhões
Compensação da equipe de vendas	US $ 12-15 milhões
Campanhas de marketing	US $ 8 a 10 milhões

Quanteix Corporation (QTRX) - Modelo de negócios: fluxos de receita

Venda de instrumentos de teste de diagnóstico

No terceiro trimestre de 2023, a Quanteix registrou vendas de instrumentos de US $ 8,7 milhões, representando um componente de receita importante. A plataforma SIMOA HD-X Analyzer da empresa serve como uma oferta de instrumentos primários.

Tipo de instrumento	Faixa de preço médio	Volume de vendas (2023)
Analisador SIMOA HD-X.	$250,000 - $350,000	24 unidades
Analisador SR-X	$150,000 - $225,000	12 unidades

Receita recorrente de kits de teste consumíveis

Os kits de testes consumíveis geraram US $ 17,2 milhões em receita para a Quanteix em 2023, representando um fluxo de receita recorrente significativo.

• Kits de teste específicos para neurologia: US $ 7,5 milhões
• Kits de teste de oncologia: US $ 5,3 milhões
• Kits de teste de doenças inflamatórias: US $ 4,4 milhões

Contratos de Serviço de Pesquisa

Os contratos de serviço de pesquisa contribuíram com US $ 12,6 milhões para a receita de 2023 da Quanteix, com parcerias -chave em setores de pesquisa farmacêutica e acadêmica.

Tipo de contrato	Contribuição da receita	Número de contratos
Pesquisa farmacêutica	US $ 8,4 milhões	17 contratos
Pesquisa acadêmica	US $ 4,2 milhões	22 contratos

Licenciamento de tecnologia proprietária

O licenciamento de tecnologia gerou US $ 3,5 milhões em receita para a Quanteix durante 2023.

• SIMOA LICENCIAMENTO DE TECNOLOGIA DE DETECÇÃO ULTRASENSITIVA: US $ 2,1 milhões
• Licenciamento da plataforma Digital ELISA: US $ 1,4 milhão

Financiamento de pesquisa colaborativa

O financiamento da pesquisa colaborativa foi de US $ 6,3 milhões em 2023, apoiando o desenvolvimento avançado de tecnologia de diagnóstico.

Categoria de parceiro de pesquisa	Valor de financiamento	Foco na pesquisa
NIH Grants	US $ 3,2 milhões	Pesquisa de doenças neurodegenerativas
Fundações de pesquisa privada	US $ 2,1 milhões	Descoberta de biomarcadores
Programas de pesquisa do governo	US $ 1,0 milhão	Iniciativas de Medicina de Precisão

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.