Quanterix lifts third-quarter revenue 6.3% to $35 million despite weak market
Key Facts
Quanterix said on November 9, 2026, that revenue was $35.0 million in the third quarter, up 6.3% from the second quarter. CEO Everett Cunningham said revenue growth exceeded expectations despite continued market weakness. Cunningham described the improvement as "the first step in regaining growth," saying it appeared sequentially across all of the company's businesses. The results present a mixed picture: improvement from the prior quarter, while revenue remained below the same period last year. Company figures show third-quarter 2026 revenue of $34.974 million, compared with $40.233 million a year earlier. Quarterly growth therefore came alongside an annual decline in revenue, while management linked the improved performance to gains across the company's businesses.
Gross margin under generally accepted accounting principles (GAAP) was 38.6%, down 90 basis points from the third quarter of the prior year. By contrast, adjusted gross margin, a non-GAAP measure, reached 47.4%, up 150 basis points year over year. The divergence shows adjusted margin improving as the GAAP margin declined, with the profitability measures moving in different directions. The company also reported an adjusted loss before interest, taxes, depreciation and amortization (EBITDA) of $12.2 million in the third quarter. It said the loss narrowed 2.4% from the same period a year earlier, while the quarter still ended in a loss.
Quanterix ended the third quarter on September 30 with $80.7 million in cash, cash equivalents, marketable securities and restricted cash. The figure provides a view of the company's reported liquidity at period-end, but does not change the fact that it posted an adjusted EBITDA loss. The company narrowed its fiscal 2026 revenue guidance to $142–146 million. It also maintained its adjusted gross margin outlook at 48–50% and said it expects to end the year with about $70 million in cash and no debt. These figures frame management's outlook for the rest of the year, as it continues to focus on restoring revenue growth and improving commercial execution.
The company said initiatives launched in the previous quarter to improve commercial performance include reorganizing teams, adding experienced leaders and imposing greater execution discipline. It added that these steps "should accelerate our execution in the fourth quarter and beyond," a goal management has set for the coming period. Revenue was $32.9 million in the second quarter, when the company said market weakness and execution challenges had weighed on results and that it had begun reorganizing teams and adding leaders to improve commercial performance. This places the third-quarter improvement within the ongoing implementation of measures launched earlier, without by itself indicating that growth has been fully restored. Cunningham said sequential improvement extended across all of the company's businesses, while management identified the fourth quarter and beyond as the period in which to measure the impact of the commercial changes.
In diagnostics, Quanterix added two commercial partnerships with regional reference laboratories: Sherman Abrams Lab in New York and TruPath in Mississippi. The company said the relationships have begun generating diagnostic revenue opportunities, without specifying their financial value. It also said that, effective November 1, 2026, traditional Medicaid and Florida state employees' coverage includes eligible blood biomarker tests, including LucentAD Complete, subject to medical necessity criteria. The coverage provides a potential path to access the tests for covered groups, with eligibility still subject to those criteria. The company is scheduled to host its third-quarter results call on November 9, 2026, at 8:30 a.m. Eastern time to discuss its results and outlook.
In trading before the results announcement, QTRX shares closed at $2.90 on November 6, 2026. The closing price provides a reference for the session before the results announcement, but does not by itself establish the market's response to the November 9 release. The company's outlook for the coming period centers on annual revenue guidance of $142–146 million and adjusted gross margin guidance of 48% to 50%. Quanterix also expects to end 2026 with about $70 million in cash and no debt. The company linked the potential impact of its new partnerships, insurance coverage and team reorganization to commercial opportunities and plans for the fourth quarter and beyond.