QTRX - Earnings call transcript Q1 2021

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Operator

Hello, and welcome to the Quanterix Corporation First Quarter 2021 Earnings Conference. My name is Michelle and I will be the operator for today's call. At this time, all participants are in a listen-only mode [Operator Instructions]. I will now turn the call over to Amol Chaubal, Quanterix' CFO. Sir, you may begin.

Amol Chaubal

Michelle. you, Thank and everyone joining today. us Good thanks afternoon, for is our our Chairman With Controller. me CEO; Hrusovsky, call today's Stetson, on and Kevin and Corporate Shawn

Before call available on about Investor remind Resources will we intentions our like assumptions forward-looking the recorded things. website. statements of Today's be this that are be Today's achieve or call contain begin, you will date available and section would of will I call. few as forward-looking may information disclosed statements. the based on expectations plans, and management's our in of on beliefs actually to We and not the

future Forward-looking that performance or expressed by and may in unknown or we or known the statements actual implied The recent risks described and are forward-looking our that uncertainties, our any Exchange results, with uncertainties performance involve most materially assumptions and filings results, factors Commission. cause Securities face be the achievements achievements and other to statements. risks, from the different

call, With non-GAAP financial will website, and financial in additional substitute accordance in provide operations. non-GAAP accordance appendix isolation presentation, with available investors During today's a turn to as prepared Generally measures in presented relevant are QX to should release call or for US these regarding or Principles, measures, considered period our GAAP I find under and GAAP. which financial measures comparative over These financial our a Kevin. measure we'll that the reconciliation that comparisons are measures conference to not non-GAAP with of of our earnings in Accounting believe of on including We not the Accepted that, In measures. with period recognized you not the performance be GAAP measures. will of financial some disclosures are discuss the these measures

Kevin Hrusovsky

as going very an Amol. our and to next Thank on the results Slide well And you QX we numerous well year basically have margin the as particularly remainder we'll financial that with as then through to of that what finally, feel growth call we off we're year capital. objectives. we for X, growth our we're growth, agenda through And this some accelerated would scaling I’ll evolving. the growth, catalysts talk and spend the excited start time our much, talk about And very growth as the performance. We'll for strategy XXXX potential about talking

here could growth. the had and growth just RADx Certainly, XX% NIH GAAP So to which on funding quarter. for we're Slide we it that a most X, COVID it, markets of was incredibly crisis. of I viewed say robust as serving. includes we would of of on productive see some can from that be catch-up very year-on-year, XX% us, still of due as GAAP QX. non-GAAP growth, That order was Maybe was revenue but in the was an you felt recovery that XX% basis, this some primary catch-up, that XX% declared the

a very had demand - dimension product our there the modest well and of many a as Instrument for our quarter, growth had we and year XXX% COVID year we had versus nearly strong basis surge expected being for validated. where You on was The of we somewhat last services also a can Instrument lab that our would business. a because are be primary revenue this Consumables. that flat for non-GAAP HDx' on X those growth, see services XX% And XX% as basis

year Services for So compared that reason. to this to we rather be on expect year did previous flat

here, for the Consumables. submitted got when point we've and we get We and antigen costs dilution in the neuro, and X there's X -- matrices and we we in, EUA X, volume Slide did can good just that see You'll COVID for focus other also of matrices. On XXXX particularly the antigen. primarily that you to fixed improvement, BPS addition were momentum and an had volume see due also addendums and sample QX have in areas some appendixes kicks

long-term great got our well some the relationships second also see that NIH that there half COVID serology we for the build We do payer did We through EUA. opportunity relationships diagnostics out the and further in pivot FDA in with that based bridging for diagnostics groups was as year. progress on of in the the as last

Assay X really different as Advantage running both do for good antigen well called COVID our NIH drug antigen to We blood, in deployed perform test now a test, drugs COVID. across trial COVID also where a is viral as being XX-arm themselves see it's trials. COVID, major and which for that an actually acute utilizing found launched or X against long-hauler are

important dementia, we surpassing million, where COVID, key you for for stratify was level, trials In I for we now drug -- above to adoption. research see of enhances loss and is end pre-COVID I'm also dementia at NfL on trials, area. continue key and And allows had, well very in strategy $X as trials to coupled with the We utilization revenue consumable XX% And with cohort of as we primarily Bodies And did see of a attraction numerous Lewy mentioned. Alzheimer's smell, neuro the companies evolving long-hauler has growth and levels, launch and out taste other that this an to for we launched robust advance. the neuro consumer is some several which record the Lilly The particularly as also cohort pTau-XXX, in which really we advances you for important frontal pTau our be temporal Alzheimer last a to field, a the the Biogen, had the NeuroPlex, trials. but prior significant removals Instruments, of to Alzheimer that area at that and sorry, really the LDTs the the linkage a us. which in being had we to year the our allows dementia to mentioned, gained COVID was lot catalysts, drug

the also WuXi venture a been with We China We've which over of feel new six scaling who's in the job rest operations, of our COO, over of opportunity. district, joint there's with Quanterix progress fabulous the continued announced lot our months. the Will team the we Geist, leadership the doing past a scaling under

average, continues formerly publications Board, under in we Ian accelerator see X, and also being gov quarter raised five corporate technology, see, inside run neurology our measured -- further at expand, And drug strategy can very Laurie many over balance our lot And and you has validation added see inside can also XXX Olson, Phase biomarkers strong And group you that our immune XX%. XX-month in Pfizer in sheet. more of placements mostly for our a $X.XX who today that. business for Read. growth talk and over that you a the X over in can technology. Slide of And XXX North years our cash weighted continue last over now that's the to And and player of our we of projects, and now enhancing about Pfizer, We of Instrument XX placed XX%, the I, And at on QX. are our next see was we'll the very years. represents number was oncology. robustly. Over the a you on the billion America we're Slide XXX to she the mostly there's here been being up and can to of II, instruments trials now portion strongest major But that accelerator. as III for have represents

there. we it's points And with XX%. Slide execution our dominates XXXX were you more pullback pharma expansion to publications, from trials, the billion fillers, us. X where validation drugs several next over side plex going we're ecosystem, fortifying to force the opportunity a see by to the at our PPH should still our growing XX% discovered using approved plus for is of NfL Xx MS really two Health So a good us and some XX% And can just one value primarily our opportunity over years. the TAM ecosystem. another a of still the to area the had that then COVID, we've creation from Those Roche, you trials, XX from in On X because see of strategy II, due Research and enhancing to for and the approached that now in XXXx of all all XXXX, data of our pharmaceutical can Novartis, sensitivity X, upstream the where are increasing also great that know we've also our get from Powering III opportunity I, of Precision have left major and by revenue Phase trying proteins neurology coming but several Customers, a moat CROs, And further to Discovery XX. lot with continue one and dominate we next & consumables almost growth. for strength years, Asia, billion as

now trials improved significant has site TAM. see where million could deal a the we And upfront. payer the or advanced with infectious biomarkers. with to in XX our been more value a to neuro using year and able the some do as groups drug starting last all we're year, mostly us that the done we're of XX which and And on the And neuro COVID HDx strategy, in advances the with catalysts, would of with some also then then couple pTau’s as NIH from X trials, the breakthrough aspirational new as next Abbott our is COVID our plus of the that improve opportunity represent but to EUAs. getting Our an is ones what pTau on, as disease. for groups last these and well. mentioned key into neuro pTau’s. our can that use, in know, to companies, growth the a an Accelerator, be in the year over trials the given data and has and catalyst. license scale equipment years the for do advances, XXX. launches expansion license. diagnostics they connectivity in-house, of LIMS being there's both focus our we MS performance and And expect actually keep general in over Siemens ease been ultimately products, diagnostic done and NfL certainly further the growth over for there achieve and channel, the validation global these what payer single-site has based and IRB COVID. single FDA this working LDT immunology connecting and with another themselves our next what And our then leverage on invest new the IVD to us HDx earlier, coupled And run of million outcomes pharma good see but third-party and you looking trials one will the two really for as has see on slide, the manufacturing us, we we at run own our working Alzheimer LDT, we larger see And as opportunities side NfL on NeuroPlex year menu LDT also next we've major you and The right-hand

continuing numerous So that the we see short-term key growth value screens us but some longer-term minimum give very we and for we for the Alzheimer's, drug also creation a managing EUAs we is MS as Alzheimer a is well These the think future disease. as opportunity. diagnostics. tailwinds, and measuring and catalysts Parkinson's believe, believe represents in Once this approved year, residual will solid

into if of that drugs closely are precognitive these increasing outcomes move see those And its we we and LDT accelerator sectors. Alzheimer's have groups, in payer working we're those early that and change the because get them so Alzheimer's with can approved, the impairment can capability, we stage ultimately footprint and

see Abbott, for pipeline SomaLogic’s, XXXX-plus you Abbott into of today creating the disease And into over all the Olink’s, many and you There's today onto XX, XX moved Slide impact plex given plexes And to XX using understanding, lot today's moving XXXX drug almost could the to is our detection And is Roche, protein upstream of proteins move we expand with samples, you Modulus, invasive in it's sensitivity, can protein So as the about about we companies a to home possibly over look care high Slide be there PET And basic impairment. is of neuro, sensitivity only into collecting playing earlier proteins can believe the they see hoping achieved then going can can disease sensitivity as IVD more in past, symptomatic And slide here most major their in and different being primarily XXX,XXXx a more is and way development, health TAMs drug detection and we've imaging, current XX a by close for there to digitizing less the and and to that from with health just on imaging collection, proteins where earlier. to diagnostics, cross from imaging sensitivity get you by Slide home before those Slide the as when for dry XX, XX. blood to billion, creating utility X% you with noninvasive that billion. it lower. symptomatic, and that XXX% able saliva into of many when research, make there's think Roche being in Siemens. ultimately that that potentially lot when Quanterix the key beta the billion have precognitive screens, the measurements. primarily XXXX see if Today, of pipeline, it discovery strategically, We measured down the entrants, technologies, and IVD and early where see research in be being with and category, to there's ability of ISQ. research. way of on can that discovered. using that these click says the screens. area begin a we've that the the that's But move protein to spots, someday that tau, I XX as shows XX, very Siemens, PET creating shown new And that from which you TAM's which patients, symptoms. shifting into actually XXXX starts reachable the And of allows This singleplex -- collection. is amyloid you particularly detection but it XXX,XXX that's levels is in XXX past, the shown by for Alzheimer's. use increased, out found billion create see to to primarily expansion have next to the see

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is this biomarker there's that technology that adoption. lot And a we neuro where groups, in a a III So classic cycle get can work together. the Slide before in probability gives on cooperative the we'll a us, case, start noninvasively. be much to after the the companies of Phase us you these a there's see our to improvement of then Phase able And you biomarkers to approval environment are field, advance using the And going symptoms, see XXX% XX, in many biomarkers. in if disease approval, drugs for get you pharma believe you're require use to I which these more having with

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that Novartis case a our for so And we of approved XXXX Roche, have when ‘XX. you and proof drugs at run and XXXX. those already earlier mentioned that in we with trials helping NfL, get in these Many X were look cycle, and

surges the of some those. recall for may You

model And adopted farmers our going so to XX into that where are same now Slide we're shows the the all Alzheimer's is technology. moving now

fastest is of cycles adoption enable One way the drug transform development incredible to the working. ability to this

can look whether Alzheimer's So where impairment. cognitive see landscape, on Slide that there's XX, you cases when you at neuro-degeneration X it after million be

X.X precognitive, So just multiple trials neurosciences are of cascades. ALS, be got biomarkers other level. already Xx a Huntington's, drug sclerosis, million, that major XX% the X Parkinson's Slide that million could versus at disease showcases and total of it about or for these Then we've XX now interestingly areas. all that looking

is the Slide the XX enhances even efficiency and before towards And stratification you plasma There's like get is have drug we invasive. technology of consider XX Parkinson's, trials that game And III imaging really And get, could to in XX% currently more different of cohorts more and a more is taps our peer-reviewed approvals. XX% and of the have is But way that a Slide cover with, the you're test, They see concussion. I, I only now biomarkers trials a $XX,XXX, last scaled diseases is trials. and seeing dementia, and And II we sponsorships and shown years, of enhance increase. that because NDD. of molecules more shows MS, advance I'd disease to fact ability the and Parkinson's the where also all side, last one is that in Slide better sclerosis that have disease today. be highly of drug NDD and have it's major where areas we trials think enhanced of than Alzheimer's a think really XX in is they're you what penetrated way the are the ability drug biomarkers that actual we trials. to correlative you can objective are studies each support Slide over less and MS, the X that our XX% this drugs slide a the intended. cost, on that continuing for the see drug CSF Pet just or So all third-party dollars seen and $X,XXX in see the and, lot how are hundred spinal and multiple changing is of And on And have industry the challenges that that in significantly from of neurosciences, is this which XX, shows an we plasma Phase the we and Alzheimer's, ALS, number blood in cost can't XX% blood the in of represent these just we neurodegenerative think play. imaging. to areas other right-hand publications. the that to this to leave inside to drug biomarkers

that biomarkers, Alzheimer's a of stage with what up already pharma discrimination to even And enhancing with then earlier better to with these and disease pharma partnership see different and this around so for [indiscernible] have but stratification an once We XXXx and early , monitoring represents stratification teaming approved. these opportunity detection, further amazing this we residual see then minimum are disease of companies believe cohorts. between drugs

Quanterix outcomes, Technologies. Quanterix’ are So those clinical cost utilizing for to an incredible rethink and companies leads and that speed richer opportunity

blessed on Amol. a all So with years, over Caliper our to careers traded really with even agreed also as couple us for us. to two he's has socks always was just working to internally Peter for he's Interim working a continue working our that a CFO CFO has search We've May to beginning been productive so for Stetson, XX. continue it the our become at I things to as company us going just Amol been support who closely tell Amol in really make that, our key Caliper and have found with schedule. had someone position Controller my McAree, progress will our last Corporate for Shawn very this May I'd rest work be seven, that CFO, on with that XX months Shawn, also a to of to And at turn the we're Waters nice offered you And during will eight back of many our on years. on after be we on search. do can supporting who he CFO Amol like Corporation that done He's while is for himself that on, would and point say I the and recruited will a sure to And years, ecosystem. working the about us together, lot we has that's know and but publicly

you. like over So with that, turn Amol, to I'd to

Amol Chaubal

financial details can detection continue be our diseases of providing early performance. at Thanks, some and I I'll Slide to be of And learning of XXXX companies, here XX. your our these where when as changing for mean, broader more KOLs ecosystem, about we've for QX And me disease you part will I'll said, to been always an Quanterix. under what its cured and incredible proud achieved referring very experience be it's investors, Kevin. PPH more in participate be game additional patients. and our leadership mission

from XXXX QX As Kevin in revenue of GAAP $XX.X revenue noted, $X.X our million RADx was million and included awards.

assays XXXX versus revenue XX% prior $X Instrument QX. QX. versus in increase million to had QX was driven revenue year COVID versus significant neuro record prior XX% nonrecurring grew item, with multiplex revenue, year our XXXX XX% revenue of million, by an in non-GAAP increase We year this and million, assays. $XX.X pTau-XXX, a for Consumables $XX.X in Excluding prior RUO QX QX demand

performance more Service recovery customers returned demand. of increased as revenue operations. consumables in strong to limited due to our somewhat QX may supply normal $X.X in to previously due million Our was revenue diverted deferred pandemic some XX% resources include demand QX to and support strong to and

not activity stated providing we As returned previously, has revenue guidance. are Customer to pre-COVID levels.

However, impacting renewed a coronavirus could gross grant XX.X% and margin QX On was revenue favorably potential renewed our potentially new RADx spread and utilization. of installations of GAAP strain gross prior force impacted versus a year our lock QX XX.X%. basis, downs, was by margin

non-GAAP improvement XX.X% same points margin XX.X% in basis to which approximate was compared of an XXXX. gross QX, in was the Our X,XXX quarter

price, gains overall investors expansion consumables and productivity volume, margin significant of gross services, of the comparison providing opportunity as our as relevant mix evolve in we RADx to costs. our impact acquisition scale awards margin with demonstrating high by purchase and of non-GAAP reduced well thus Our towards expansion our excludes period-to-period Uman, a driven accelerator was acquisition-related the margin our business operations. adjustments product as relating margin XXXX noncash Gross and accounting future, gross for

expenses, which in revenue, And grant million. operating expenses million exclude GAAP non-GAAP XXXX. expenses RADx associated Our QX with operating primarily totaled nonrecurring $XX.X totaled $XX.X

by pleased in made cash our Basic committed $X.X million XXXX of delivering EPS driven totaled for was February. to that, million. for QX I results $XXX.X $XXX.X remain With Use net it XXXX line in cash million and in During expectations. solid weighted period. was public our balance QX Kevin. XXXX in performance priorities increased and we turn proceeds XXXX, by shares million progress strategic and QX our XX million XX.X QX on ending the from with to offering with $XXX.X are Overall, unrestricted outstanding back cash average balance will our

Kevin Hrusovsky

pharma want from evolve of a that which XXXX HDx opportunity. RUO we of a you the million XXXX, us drug lines Also, hopefully just the pull-through Amol. to leading XX instrument XXXX mentioned, do objective on going expand to SRx’ XXX already XXXx they pharmas XX% Thank a some of sensitivity, will drug trial placements, year to scale payer deploy technologies. RADx with of we to in partnerships our that to pathway the relates SPx’ the trials. those. I'm continue supply from to our placed define growth ones much this number. in We the of interleukin be greater better COVID expand XXXX, we financials, and XX% NfL XX%. want turn Quanterix we a and expand growth field, we'd the key the installed to growth And the global And with over have level, we year also and we slide, our large highest compounded to greater end the and diagnostic this AD profitable think then future, also XX% leverageable long-hauler COVID, platform and HD growth we've show which our trials. our interferon where impairment year. started channel, at base can our installs which of much, has of XX% penetration HDx’ drive A Serology and I'd up Alzheimer pull-through penetration, for the then like That's those being to With HDx very to base to precognitive where to want component gave And already to increasing addition through HDx’, we SP-X than & annual our scale a COVID many and the want expansion Immunology, want mentioned go that sell. deliver trial most of scale we to like up that close Neurology is the COVID assays, adoption Antigen plus have partnerships. open to it to and surveillance consumable and our with LDT for to those greater means then rate. which continue questions, payers the cytokine building And landscape. our continue strategic that, keep and pharma up. we lesser be EUA

Operator

sir [Operator you, Thank Instructions].

The first question I Peterson. comes have in from queue the Tycho

Casey Woodring

you COVID then Casey to first for tests guess Can and research one just moving I then on is here the the Tycho. quarter for antigen could quantify being this on long is on between contributed trials of what done the contribution forward. you and the any And just around quarter? antibody COVID well, XQ. COVID This sort for contribution the side research drug way and also as quantify the COVID

Kevin Hrusovsky

clarity I'll additional you say of Amol of we COVID our vantage but don't for the is Basically, revenue. start a lot I less granularity, would than our can point or QX provide clearly Shawn. revenue XX% and from provide that

supporting research drug the We seeing on in are it research trials primarily of that we well mentioned. early some LDT as as

it's so we a either. to And not didn't and have XXXX our much QX, component significant in

So headwinds there weren't XXXX. tailwinds. in a was It lot of mostly

GAAP, you would from non-GAAP $X have NIH to find you the COVID of million we that been other to Now related. if exception had will only over go is little that this funding

Amol Any XX%, either than less some are non-GAAP additional on the So here, or on funds. Shawn? GAAP, the there but it's color

Amol Chaubal

COVID as I approval, EUA mean Kevin the sort of noted, revenue has minimal. mean, I on the right, been

excited added some for of research this like was remain of houses work adoption And we technology. dimensionality the LDT research sort assays I is of as some where sort of in long-haulers the see getting it get we really most quarter, leading-edge about happening on continue of the we've technology could on in RUO assay, this our most absolutely and NIH, seen really the research key new or think to level provide technology. what in some revenue settings. for long-term research that again, used our with they applications the But of is to

Casey Woodring

time next And the then Siemens color been milestone from then sort progress any and partnerships? Any for And of talk there on sort of can payments respective of what each you sort steps there? that's are of those. to and Abbott each lines made by of

Kevin Hrusovsky

NfL believe relationships. these we keep And give our course months, the a for Uman, that continue with on say, lot the from and First, standard. to Abbott, that And and bullish specificity them case best, XX antibody this pairs over diagnostic base. to seen would houses. was we to highest that's actually when I to Simoa the remain involving evolve question. of here NfL. of We've try evolve a very in of installed the seeing And their do think of next activity would license. the good the got of is the Siemens primary purpose We've to that Casey, the And to legs we we'll continuing acquired continue many like both I we

going And to it take so advances. that's that they are because working a incorporate and their time technologies That's short-term to advance. is not into engineering

it You technology base Abbott from to actual IP can't us. It and requires they installed simply associated convert to with the take existing Simoa. that's componentry licensed that

will not anything from Siemens. to should would significant see XXXX you that in expect from as Abbott So be any you advances

Casey Woodring

sneak just can in two I now more quick And if ones.

for how disclosed should biopsy the the like? like biomarkers. And deals that progress on liquid was of pipeline as this on Can that Alzheimer on Alzheimer What maybe the we've signing about with Thrive elaborate on more partnerships, about this companies collaboration the data perspective Lilly gotten and and then past. relates your in think any you talked to mean from question terms does more in Quanterix, drug you and with Lilly a for high-level we also March? it In

Kevin Hrusovsky

our already LL, lower companies there's of that ability other are proteins on and are see lower much utilizing having limit first, sensitively productively Freenome And quantitation. two two companies that the these think Volition. and the much more to biopsy, One's I the technology is advancing. liquid have

have this lower algorithms have key the And wouldn't, those technologies standard algorithms enriched. some most was would for so showed today's biopsy of low the of was the liquid Thrive the to previous could presentations, that in companies -- do quantitation these that just detect the they be have Luminex, able algorithms on that proteins or of not we detection enough not think be proteins. based that limit do using been evolving certain is at many believe some seeing value for the not genomics, to of algorithms bring And critical we proteins been but also they proteomics. to those And we can is, in that we looking

in neurology. using except belief at in we they neurology, this a have drug and as strong companies would and win-win are and with so, drug Unfortunately, diagnostics where the markets oncology to there's to drug those in more area that without interested companion the the reduces still really and they it many in as the point, technology. Alzheimer's the we of of no utility get companion a makes the it feel can't our approved cases excited that and support. a data use environment are when publicly restricts speak just to technologies neurology that liquid biopsy. for allow advances aren't markets And that the biopsy in but want we a diagnostics. there's that you like work showcasing -- us And partner the like landscape, as many size is liquid for much attractive In we that we to of companies ourselves utilize good utilize companies lot times, of And

that the ability customers, anti-tau question enthusiasm strategic pre-cognitive of the hurt to Alzheimer's one several some and and earlier, images to drug I as and be Your or others pre-symptomatic and with are impairment, that Biogen lot efficacy. and recruit of correlate And change out CSF. even they do could been continue the that the our performance and for utility types certain stratify trial most is there's also with can drug biomarkers ability of patients to and plasma actually second technologies landscape. in of economics does not that regarding those of the related think correlate Alzheimer with enable important blood And around breakthroughs to dementia Lilly, a trials

pTau Body drug the Lewy those dementia, temporal cohorts. XXX and utility of trial a an shown stratify patients in frontal helping out so, example, as has of And lot dementia

the remains several of I I So around very well strategic. got moving in they have our would only and daily close and as Lilly say working forward very at mentioned the of of plans They've a as technology other this the lot have stand-up point lot that companies landscape. relationship a we that a meetings that

left now drugs be of is Tatiana with to Biogen our go worked technology we're utilizing getting and key seeing to think, And to deeply that, landscape several I and for beyond then companies these one integrated Takeda. remember going And into she's You us to year approved. some Lilly. different where well might the neuro Takeda

these So the that we well next we think for drug in try bullish managing to trial diagnostics positioned the we're to then months of practice, blood some good on health remain for very the approve MS. the residual doing Alzheimer's. for one what as we're disease, landscape XX drugs, Alzheimer to does if And similar plasma evolve as some screens well minimum in FDA

look we a being encouraging our overall very at So for next the piece of years. this franchise as several

Operator

Chris next Instructions] [Operator The one Lin. is from

Chris Lin

efforts? you that the is your market Kevin, Growth in Amol, but think within launch I talk the congrats Amol. positioned XXplex I questions your multiplexing sensitivity. growth could market. slides am thanks a the that Simoa that start, if should the able just there utility Also, maybe oncology us taking catalyze neurology given of be oncology think about Kevin, of and one curious on just again, lagged of to has business, update assay. you uniquely market my for just given to

Kevin Hrusovsky

places one acute of the unraveled you they found impairment needed control they they basically COVID and many interferons there that drugs patients that where our if lot pneumonia labs system we cytokines, in And in where how think immune then or themselves or system, interrelate that We're try very more XXplex. for about the cytokine oncology basically storm. looking cytokine whether the shut Because storm the achieve is do of immunotherapies to think immunology. key or from us early a impairment XXXX did with in are the storm, the did, in was for -- immune rapidly COVID things of system the the interleukins to into is at various the of is the cytokine the pivot and and getting down oncology research to what immune became COVID be I labs. fact,

And XXplex, labs we has because yes, many COVID labs. had, to more been utilized COVID basically of I so, converted launch for did said, which those like the

which seat of certainly and in COVID for second a bode take second I say the and XXXX, does what convert XXXX So back. would we've done it We half should franchise, in believe oncology to well neurology. our

over in back we COVID focused as we with with oncology. of labs, basically a and so, COVID. has as expect that focus of lot And we'll But it think think X then is neurology short-term on would incredible heated months, what transitioned many were excitement We we be labs, an on those further opportunity think last well-positioned. into neurology the Alzheimer oncology the oncology labs reigning up labs the coupled the don't be

keep that's the this OpEx growth getting so so, staging the and way that of our greatest have use optimal the And opportunity. targeted we're the we're where we

COVID opportunities to those oncology. now our are strong in capitalize positions, on sure neuro efforts because right we so, trying diluting make before and sit both And very we into

Chris Lin

rapidly tools over years. Kevin, early past of then pipeline been increasing has life the And few companies science the

balance strong very sheet, with financing a year. have this You earlier especially

years. a You or few number a of also strategic acquisitions over made acquisitions the several strategic past

mind, if So that now in deployment for and your the in us was capital opportunities if see hoping update -- development I could any on future. you you near give efforts, with an M&A

Kevin Hrusovsky

M&A to as more us that advance cash well I balance and a lot in of evolving enhance our protection assets, downturn for might as lot world it of better around opportunity laboratory in and M&A us a two as primarily way, see strategy the First to services event as give advance to are M&A stock as looking to allow at were opportunistic we at think of found well our we pure all, to our we interested footprint the just to win-win nice strategic a way any investors strategy. And key it accelerator our look could at fact to to as M&A. for the when they certainly put our advance that is opposed think that look of we globalization into ways we're we we sheet had strategy on a play that get look our key areas

for assets seeing the we and and able would think the assay and that was highly for an sensitivity were And to us antibody gave potential knowing antibodies our our represented. that Uman be area advantage those it specific, company The we and because and key. Another antibody of development pair in technology. see that Simoa Uman related are

early phosphorylated precognitive And when franchise, as you so, pTau impairment stratification patients. creating great are Alzheimer's that similarly, look Tau’s newer there of well some in detection the as are

antibodies, our landscape, And that could capital so, deployment for in doing and/or it whether they it productive actually that investors of know be antibody we the we area be can our or assay key accelerating development a strategy. is licensing, anything very think advance be acquiring that because them, another

very trying we to So been also for if to pharma because by approved invite many of some pharma get think investors we companies recall, won that benefit in our to we and those also And investors do they have a own. balance sheet strong using our that us us drugs you by it demand the allowed introducing because technologies. productive, us have create newer also companies

pipeline And becoming so, commercial for investors end good to our increase up opportunity our a real technology. us selling for

it's think actually our us sheet were given accelerate us we way a that very for allow the strategy. to subsequently, a look productive to balance to and raises So

deploy So come ability current we balance for sheet the strategic to feel very that and assets productive opposite our capital market. dynamics on

Chris Lin

for probably last for and And Amol. me question

benefit XX% Consumables Did and well? I the that impact the you growth think or see to dynamic the Instrument Services contributed on side quarter. that as do primarily I catch-up revenue a heard this business

Kevin Hrusovsky

up. Amol, start, and I'll follow then think can maybe I you

went in general, to accelerator. shutdown started some mode, into many they that, stocks. you think have of there's times because they level catch-up utilize some depleted basically their And that when I our customers

we've productive to had And could new this significant, be showed the in and But so, QX we XX% which as instrument that's than allowed of been been factors, catch-up. that been probably was form we a into that there's its get certainly some level, of that estimate level want not capability, strong because probably allocated four an in had the of instrument very a some itself stronger to to HDx. has to growth XX% the we've And continuing ramp area to and really we've the have customers years. got has very HDx up really lot

but utilization dynamic in menu. have demand to that be it's we where you that fact, an I by will fastest so, continue you an in we Instrument, and do much we of see And because grow what think base. believe strength, in area is, of believe installed our strength Then you the have increasing keep ultimately our installed consumables expanding an

utilization pronged give So levels consumables. growth us a double area opportunity of for the in

XX% to going be because it's averages This our for lowest that's it's going likely did Services. for and exception where be but to it's expect to year. XXX% Instruments, CAGR, would we growth for when And year Services grow last an XX% in consumables, highest be the going is say we on we to for so

add to color any there? Amol, So

Amol Chaubal

for for demand that, for Instruments, well. small. covered of demand several there it's positive future you've will the hard received. for neuro other There's There instruments I multiplexes and Consumables, So to Instruments small. think said, the out, But the also to in Kevin them, I instruments. catch-up it's in providing going but be Instruments, HDx well is come to and parse is the the impact life, hard because pTau’s for us factors parse that’s are out Catch-up tailwind of and one whole being creating quarters. also is RUO shelf out. it's mean, it the dimensionality as because which creating is than new some right? the COVID demand performance

Operator

Masucci. the in queue question next Max The comes from

Max Masucci

becoming vaccine for defined. the rollout, antibody it's with of more So the testing role I COVID-XX the purposes, think utility,

in to vaccine just sort it therapeutics of understand sort can a the vaccines, time? the projects of color antibody serology programs or which firsthand Is a for to evolving great of effectiveness degrades real types sense and us traction? So immunity some testing testing in be around you understanding get most or of are that's what just right experienced serial dosing seeing give but how it you've market would

Kevin Hrusovsky

of I much Max, EUA’s that described, our described, we're And to pieces of two your would or what the things test ability have only how one there. that one because the of say, we're question very you going And antibody is strong everything is quantitate is serology seeing. quantitation. three enable you is to many

Pfizer these seen will was are what's you Mattoon, you which Also, starting do how had see to needed? when start EUAs, We maybe with levels and the know ago what surging the of proven tested actually might about on believe She with cases will move, need what's question, working COVID, is protection you while joined Board utility durability their we system about, we you significant over Signaling, was guess, got a the vaccine. a Cell the who recall. So demonstrated long backdrop. When as not of us in Dawn twice neutralize? start a be of when the there about serology I that that her also interest, to because where planning could I from how additional likely neutralizing? will and boosters? you made being two do that I yesterday. We've both calls for When you And be lot and immune you to that consider of many you means months Key be to begin things different various believe, shots assigned one going it occurring booster months, to and and level it's of a specialty antibody it's needed. start next to for of term, one India, undetected. the need companies mentioned, that you've for diagnostic top on FDA ago. she quantitate does the emerge, Board of quantity is so, her understanding years against to I and how belief the and the there. from joined quantitation, the neutralization variants that helping the three the see that far and just the And get going the for are see day, in Max, serology be us a as COVID XXX,XXX listened There be out and think another help thinking at But us vaccines to over. And the serology where of She's on antibody it moves franchise. that the many is serology, those job us the antigen will sets. be And have And area variants the neutralization for is an to antibody, world. spread, that to of do how goal now longer test. when quantity couple now look we're you in build incredible that done that's but Particularly we've boosters the emerge? quantitate a the neutralizing about

have Now and new and these they to the trouble Gilead. say, we issues death, seeing that with at still running for blood and/or COVID had taste and a or Glaxo how are but NIH received are then with viral are antibodies around having in XX% acute to remdesivir of of treatments. also have our in recovering best impact from, the having and other antigen lot measure technology, cocktails of body. tests Lilly the neuronal are as long-hauler management, of our management, actually remdesivir how well where that are those using Same interest with the from well seeing drug looking smell, which XX% These analogs plus companies, trials like other

pandemic. research we try that and do next as important pivoting we future that coronaviruses interested around of WHO investment activity to it's world an more in are in think research see we opportunity will other lot by in into to protect be the and the So the against others the a sustainable NIH, opportunity, there well because the

Max Masucci

utilization over me. is catch-up you guess, of a sort demand fronts. period demand. reasonable for wins sense I increases you was course given between it just drawn give And nature consider, base. that trying second, recovery split can of us on the Thanks. that the imagine for pad global will users? me. customer both driven the a the first, That existing XXXX, assumption? of QX question Just I then, sense for guess, can should versus I'd by for that's what organic a be customer your get to for demand for new the out Final And

Kevin Hrusovsky

believe hold then research we do, more because would India accelerator. and we some a unless corrected to our getting that where are a we in the I entering term, of to on situations in there's many ultimately proportion, do that see of the serious and a utilized longer States, lot next, Europe hopefully relapse of say America into into the significant into a South reopening that put we rebound many in and Western United phase think other now some continue wasn't being starts will the that cases as current states they sectors cascade of probably we that

and back allow services. their instruments in build XXXX invest opportunities continue assets sales their where the had we into this accelerator of actual our customer lot research early in to cover many labs. opportunity consumable out a that's the those back service we And our and labs, So great to will where of further across go to will emerge do customers think to

new a think going historically of their area customers But are be we that throughout current their future as So key year, peak re-upping the And of that at QX, instruments, consumables across to obviously, do look in we think growth. our and technology are customers. expansion. a brand you Instruments those very interestingly, the do productive is that saw for buying those sales that's many we area utilizing

and as labs MS our hitting and many is time this And was Parkinson's, news, is the at while really neuro crisis in COVID those continued accelerator. particularly good same down in trials because the opportunity, shutting so the Alzheimer's

enabling that's So new accelerator buy used to customers instrumentation. our that now

us to Max. existing So during the back a double as kind giving new kind customers experienced of first accelerator but that into hope I continuing this customers. that get growth of get we opportunity customers the of for period, us with for then new well both time action, a utilizing prong helps, good through and

Operator

one do queue have I question the more And in Puneet comes that from Souda.

Puneet Souda

you on new all, of working role. but congrats first we'll Kevin, And Amol, the Quanterix, on miss on quarter. the congrats with

for questions Kevin. X me, just So

seeing the view see me. where relationships, we you there? CRO update give as us where it installs, longer how think long-term stand are participating at one you're term? you approved? to be? an there the could revenue then you First your you are potential does revenue direct And you'd in currently? for neurology. be How and where like how can and of terms broadly, just accelerator it involvement penetration So And on or through in neurology those that's diagnostic your opportunities What's that I that licensing impact that? you in drugs mean, Is direct do trials, increasing when the we should if will

Kevin Hrusovsky

are of diagnostic into for markers, something our a for, our disease, this post who up opportunity residual we first, health is have and as interests The screens plasma really in pharma, evolving management of approvals. as lot blood given Alzheimer's technology that relationships well gearing with of

measure our into So loss played helping NfL on in landscape, the and role us in MS, also Alzheimer's. know, focus, as its of And COVID of up we Puneet, until it but found COVID way most smell taste had you a with hit. NfL

death, then multiple specific Alzheimer inflammation levels the we've the of GFAP of and more showing so, And even for goal Tau’s phosphorylated and markers like got some shots cascade. on for neuronal

multiplex and would evolve from relevance, of pTau’s understanding diagnostic what post of look the are to at lot where and might to trying see the relationships think move a I see interest. it have payer but the for is a disease stratification of be a would paying have you multiplex more to able neuronal specific they patients. lot look dividends, And NfL, in this these death lot of because our a early so, would approval. And be would And at that some

methods with can payer And cascade is you if these have you early it Alzheimer's, could of them can in on to use drug years progression, do stop or you precognitive groups impairment before basically lot you then a feel dementia. like that could members Alzheimer's. And the deleterious biomarkers quantities that think can have XX of you of can prevent before Some that detection reveal get Alzheimer stops they if detect XX what effect, when our significant approved you effects progression, which the specific any get the of cognitively. could impairment the a a drug

starting strategy think the biomarkers emerge. dream that's be relationships advance having a so, us a And using health for is going I also help post to screen to our And that's approval. drug way to a pair the

have do we I of feel even our COVID during utilized opportunity. feel CROs open. been their never them growth of very stronger. and stayed to think that catalysts, aspect labs continue good that were the period business to well multiple heavier So The because of Many about positioned leverage opposite

Labcorp been technology strong very been XX% large the have of CROs, adoption the Quest, very Eurofins. we CROs, they Across be using of pull-through. run we've Frontage, got through the And levels from it the or from bring so, and or of like technology actually Covance whether strong most have trials in higher the cycles CROs. has drug that with feel and we our relationships the or rules-based Quintiles utilize medicine And board,

area. So we it actually see a very it. strategic complements The think, accelerator, as we

We say, to customers really work know, have the invented with I to you many want technology run the that trial. that people the

is we as do our approval to have XX% for could the run expansion but opportunity direct some diagnostic trials, accelerator, I both that in companies like drug there now there of post but think think relationships and been direct capabilities. you licensed asked, channel the And the to merge be, XXX own so, where probably of our our of the ability run also something an Alzheimer we believe to trial diagnostics, us we

that up ready into in can seeing next several to us up So be evidence does these for trials trying Alzheimer's we're exploring be the diagnostics gear approval. event get and of the months, that we pivot over you'll gear so as both, a Great. to drug more

probably that call. that think correct? I that our concludes Is

Operator

questions, sir. any further have no remarks? have I closing Do you

Kevin Hrusovsky

we just say, opportunity of try that creating feel We lot like oncology. the community. investor duty And really these I neurodegeneration Yes, biomarkers have Perfect. for continuing world the with really our to opportunity we and our would are Quanterix the invest to in for plasma to collaboration help a longer-term through appreciate the COVID and a continue to understand thank you we story.

continue for updates. you Stetson, great chapters their once of their I Shawn today, And you luck again, much. in much wish, in Amol giving thank So and you very we'll very each careers. Thank next and

Operator

and Thank Thank will This you, ladies participating. you for conclude teleconference. now gentlemen. today's

may You disconnect. now

Quanterix (QTRX) 9 May 212021 Q1 Earnings call transcript