EL7.AI
StocksMedium•9 November 2026•
4 min read

Quanterix narrows 2026 revenue outlook to $142–146 million and sets test reimbursement at $484

Key Facts

1Quanterix forecast revenue of between $142 million and $146 million for fiscal 2026.
2Third-quarter revenue was $34.974 million, compared with $40.233 million a year earlier, a decline of 13%.
3The company’s slides set reimbursement for the test under Florida’s Medicaid fee schedule at $484, with coverage including 4 million state residents and state employees.
4The third-quarter net loss was $21.6 million, an improvement of 35.6% year over year.
5The company expects adjusted gross margin of 48–50% and about $70 million in cash, with no debt, at the end of 2026.

On November 9, Quanterix narrowed its fiscal 2026 revenue outlook to $142–146 million, alongside reporting third-quarter results and developments in coverage for its LucentAD Complete test in Florida. The state’s approved Medicaid fee schedule sets reimbursement for the test at $484, according to the company’s earnings presentation. The company said expected total revenue falls within the new range, while third-quarter revenue was $34.974 million. In Florida, coverage for eligible blood-based biomarker tests, including LucentAD Complete, under traditional Medicaid and the state employees’ program began on November 1. Coverage remains subject to meeting medical-necessity criteria.

Third-quarter revenue was $34.974 million, compared with $40.233 million in the same period of 2025, a year-over-year decline of 13%, according to the quarterly report. The chief financial officer said on the earnings call that revenue was nearly $35 million, down 13.1% from the third quarter of last year but up 6.3% from the second quarter. For the nine months ended September 30, revenue was $104.295 million, compared with $95.042 million in the same period of 2025. That puts the sequential quarterly improvement alongside the year-over-year revenue decline in the latest reported quarter. The CFO said the impact of commercial initiatives would become more pronounced in 2027 and beyond.

The company reported a third-quarter net loss of $21.6 million, an improvement of 35.6% from a year earlier. Adjusted gross margin, a non-GAAP measure, reached 47.4%, up 150 basis points year over year. The company maintained its 2026 adjusted gross margin outlook at 48–50%. It ended the quarter with $80.7 million in cash, cash equivalents, marketable securities and restricted cash. The CFO said the company used $16.2 million in cash during the quarter and ended it with a cash balance of about $80.7 million.

The earnings slides set the test’s reimbursement at $484 under the approved Medicaid fee schedule, with coverage encompassing 4 million Florida residents and state employees. The coverage includes eligible blood-based biomarker tests, including LucentAD Complete, according to the company’s statement. Coverage began on November 1, with cases required to meet medical-necessity criteria. Quanterix also announced commercial partnerships with two regional clinical laboratories: Sherman Abrams Lab in New York and TruPath in Mississippi. The company did not specify expected revenue from the partnerships in its announcement.

Quanterix expects to end 2026 with about $70 million in cash and no debt, according to its financial guidance. That outlook implies a decline from the $80.7 million balance reported at the end of the third quarter, when the company said it used $16.2 million in cash. On commercial performance, the CFO said initiatives launched in the third quarter would begin driving revenue higher in the fourth quarter of 2026, with a larger impact in 2027 and beyond. The company aims to submit a 510(k) application in 2027 for its HD-X platform as an in vitro diagnostic device, while saying it is in active discussions with the Food and Drug Administration about a separate application for its multi-biomarker test. It also announced that it will take part in the Piper Sandler healthcare conference in New York in early December.

The company’s shares fell 3.45% to $2.80 in premarket trading on November 9, compared with a previous close of $2.90, according to coverage of the earnings call. The move came on the day the company reported results and issued its new outlook, after third-quarter revenue rose sequentially but remained below its level a year earlier. The guidance combines an annual revenue range of $142–146 million with expected adjusted gross margin of 48–50%. The company also reported a quarterly net loss and a cash balance at the end of September, and expects that balance to decline by year-end. The next announced milestones are a larger commercial impact during 2027 and the regulatory target for the HD-X platform in the same year.

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