On May 12, 2025, Quanterix Corporation announced its financial results for the first quarter ended March 31, 2025. Total revenue for Q1 2025 was $30.3 million, a 5% decrease compared to $32.1 million in Q1 2024. Product revenue increased 5% to $20.7 million, while service and other revenue decreased 27% to $8.8 million.
The company reported a GAAP gross profit of $16.4 million, with a GAAP gross margin of 54.1%, down from 57.8% in Q1 2024. Operating expenses increased 27% to $42.8 million, driven by a 49% surge in R&D and a 25% rise in SG&A, leading to a widened net loss of $20.5 million compared to $11.2 million in Q1 2024.
Quanterix revised its full-year 2025 revenue guidance downwards to a range of $120 million to $130 million, representing a decline of 5% to 13% year-over-year. This revision accounts for an estimated 20% reduction in NIH funding and increased conservatism from biopharma customers. To counter these headwinds, the company announced a cost reduction plan targeting $15 million in operating expense reductions in 2025, scaling to $55 million annualized by 2026, and projects cash flow breakeven as a combined entity with Akoya in 2026.
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