QTRX - Earnings call transcript Q1 2022

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Operator

Good day, and thank you for standing by. Welcome to the Quanterix Corporation Q1 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your speaker today, Mike Doyle, Quanterix CFO.

Mike Doyle

and joining everyone, today. , morning thanks us for Good Toloue, call CEO With today's Masoud President me on is and Quanterix.

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

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

Masoud Toloue

good Thanks, and morning. Mike

counts. that detect new is employees day to and me every weeks health company two role, ago, Kevin technology this its ultra-sensitive year the Before effectively support technology previously And working research, dedication the a X% and way last like of stated, new on clear in is what track this array to to represents higher to I'd But rates revenues significant Simoa our million passion Board, to and have we him, that's proteins goals back care condition. a human Kevin's it's been achieve $XX.X impact million, used growth I ultimately we total key this shared. look that $XXX how transition thank of breakthrough deployed year-over-year. we with Quanterix. includes customers. revenues the unparalleled. Since Quanterix tests single Last developing forward for will quarter, and on playing new Board of in growth biomarkers, for on the chapter measure million which start, I see, between as that on the impact unlocking are a with and we at being role reported a has $XXX very molecule and are their and year. this joined to This our and and half

consumables year-over-year. growth Our our segment, by XX% performance was driven grew strong in which

for by growth quarter. for the 'XX has Lilly in demand several million partially during is with that offset XXXX in Lilly, of which in our years was working been laboratories. realize our We strong accelerator by Excluding pandemic Eli collaboration collaboration a Quanterix decline, partnership provided our that revenue testing benefits driven instrument and $X.X and towards the

Alzheimer's As access revolutionized a and Quanterix multifaceted for diagnostic services anybody P-tauXXX growth and Lilly's products Simoa technology applications. to drive as well reminder, continued of future agreement also expect framework vitro and as disease. establishes this near-term It a will that diagnosis we collaboration treatment research from provides based in

last gross declined adjusted compared points XX.X% Our approximately of to year. margin basis X,XXX by

$XX.X to impact approximately due As expansion scale lab which part for personnel increases QX million important foundation be to several will future implementing this on Operating several in million $XX.X on is compared which around we an ‘XX, to did performance. and of processes, new changes expenses one The were new take inventory our projects. with quarter. and quality have transformation focus, process new of are management, an margins

factors In Mike that operations terms to of our we discuss. cash, spent $XX.X support million additional approximately will and

strong continue XX%. to America by we where revenue presence our growth geography, grew in at we have Looking very North

reduction first in even the quarter. was our earned clients to in activity a growth testing pharma COVID-related Publication primarily roughly and a due We grow. pandemic by between labs. from strong driven to 'XX to in was the academic year-over-year clients in pull-through of year during and split continues lack revenue maintained Asia demands COVID Our prior-year due for CRO

technology compared record of XXX total first its was over new to a specific quarter Simoa in publications Our the assays. strong our offerings, quarter X,XXX first highlighted XX% neuro XXXX. period, Simoa related bringing in demand since in neuro inception and inclusions 'XX, of capabilities, of for stemmed driven multiplex by year from our revenue Quanterix's XX% up to adoption strong pTau-XXX prior neuro

this, and the relapsing-remitting, last for our were test. Basel identify when revenue year at NFL our conjunction used the same from Now, and NFL technology, of by our Community test to Simoa therefore, caution which near-term relapse follows Starting a quantitatively that therapeutic serum lower approved Using This that quarter. we spend I'd breakthrough able of disease. developments products. risk within expect Simoa NFL the the plasma operational pTau-XXX tests at a If imaging help IVD business regulated we be these sclerosis from effective from some It measure higher FDA impacts the human could, approach time time is for for tailoring were the useful don't highlighting to but on or any takes designation detection to designation really years. Neurofilament like clinical I more more our want MS to receipt our with and this important Light announced method. developing announcement risk, few achieve four in patients offering to test, our and multiple which could and the exciting plasma Chain effectively help treat with researchers to

during Virus the recent School to studies, study detecting prevalence MS. instrumental Quanterix’s was high Lancet Epstein-Barr and also looked is Public thrilled was part suggests entire of and truly X,XXX limitations reveal important a associated of test individuals was the NFL the This in ultra-levels discovery. with a understanding key our subjects and revolutionary test. the in enabled multiple is their this age samples NFL established corrected mass, MS identifying the milestone people for of NFL NFL Harvard as study from published Simoa a study establish XX,XXX evidence One brain baseline age us of a technology a of technology a was for The biomarker body of of were result which over with cause Simoa high-profile MS, that of to increase. and protein establishing health database Health, over a an leading the baseline Community. from levels This for We're better the of that EBV published finding give Simoa Through and Simoa NFL the by the concerns. other at quarter. completion the

Mike? over Now, I'm turn some going it to Mike more financial to details. discuss to

Mike Doyle

to be some about XXXX first Slide I'm performance. provide X. our Masoud. the quarter additional call, And for number your on it Thanks, details following financial reference, will those going for

quarter our the had multiplex neuro million, total Within approximately product solid quarter versus our We completed an quarter XXXX. first versus strong a revenue year, the in of consumables quarter again assays. demand quarter noted, the which in prior by in million $X.X from Masoud XXXX of the $XX.X first was revenue, As of once driven revenue revenue our revenue, growth of revenue XX% pTau-XXX million, increase increasing versus and the included awards. our had XXXX RADx non-recurring first now the XX% first product of of first $XX.X X% increase and for

of quarter First from We the release. million revenue announced QX our XXXX during quarter million, first services recognized versus customers revenue levels. to our XXXX XXXX XX% prior comfortable $X.X the quarter included first has service increased year with to within Lilly collaboration with activity Eli returned feel $X.X pre-COVID is during

lockdowns. of spread potential could force However, new variance renewed

Ukraine, to our and have performance. the with addition, war the rising In potential impact continues global in uncertainty inflation to

factors XXXX. Our in first a compared gross that change. XXXX are margin QX to XX.X% was drove this of the There quarter few XX.X%

margins in is versus result inventory early way higher inventory productivity. our We've balances, as growth going for perform The to and shutdown product. XX of this management know processes results this reserve quarter quarter. number made for reserves. which activity XXXX impact we inventory affected one we quality a change allow the Our a Due and scale in looks impacted XXXX a recent in manage and compared to excess months change changes assessment response a us obsolete of three accurate quarter of process the we count, in the QX forward. months should how our and longer instituted inefficiencies made also and inventory estimate improve more our to of to initial with that at physical change The of materially annual we to highlighted will

personnel the in the laboratory of quarter of drivers $XX.X scale related Major operating were in outside organization increase we totaled improvements. expenses invest XXXX. first as versus million first expenses process $X.X services operating increases, quarter and Our volume activity, and XXXX, expense million in an of the expansion

for by During it objectives. is vendor with basic we're Cash totaled our outflow the adequate timing to delivering and committed in I'll quarter shares unrestricted quarter balance cash quarter and weighted expectations. remainder turn in driven and $XX.X by share operations our first headcount sheet year strategic from for with our of average $XXX.X line Masoud. by the With back and XX, solid progress million and XXXX in resources positioned the Overall, XXXX we're increases, per pleased and balance XXXX, primarily strategic balance pursue to on our no the first was in period. decreased payments expenses, $XX CapEx. cash of to of With first the performance driven million at debt, and operating $XX.X excellent with higher well shape $XX.X made million results cash remain priorities that, million, XXXX March outstanding EPS was

Masoud Toloue

Mike. Thanks,

questions, Now, before where the and for is where line today about see to company open future. into I I up headed want talk Quanterix we recap the

fiscal want three clear ‘XX, with ahead be the quality. to that on to primary focused rest Starting we Looking areas. scale with we're of

want an are critical and we operations incredible going group full and of to As model to new existing executing best I be new keenly there join around individuals potential increasing we a on the our that message we're scientists send scaling out these services the our chapter focused want of people our to us. to and and meet talented for people platform, enter a demand. realize and organizing products extraordinarily

deep the the heritage the are this and biomarker Second, received deep through our our of that feedback rooted we drivers a Key our and we and in researchers. clear same year timeframe. time the front breakthrough expect scientific for of sensitivity we in space, pTau-XXX customers announced people, in is it's first innovation. We the on lines in release are accelerator of provide with of behind XXXx to by Quanterix us. our the this we relationships innovation it's end innings Simoa the believe early on the platform for

We will as inorganic chapter. and this pursue we both enter investments organic new

translation Finally, this in [indiscernible] that Simoa and continue these we're near We're pTau-XXX testing biomarkers test used focusing forward play and biomarkers being the is CLIA our up available those lab look clinical uniquely to positioned making are in the early and validating and of on then to both differentiated ultimately research and to diagnostics. future. . in the detect role

up Let's for Operator? the open lines questions.

Operator

[Operator Our Please of first Company. Max proceed. Cowen question comes you. Thank Masucci Instructions] and from

Max Masucci

Hi. Thanks for questions. taking the

first the Alzheimer's the test approval First designation FDA the the last based test one, detection IVD of earned breakthrough the pathway. CSF in through device used that approved and It's disease. week,

thoughts and would similar on could test to advance the it two in through for any a be to CSF dialog expect and designation your with to Neurofilament your recent great and of [indiscernible] say, breakthrough you FDA Light whether whether your had approval, quickly designation terms -- how hear the tests let's the device you've breakthrough related So, timeline would based Serum pTau-XXX . device

Masoud Toloue

question. Hi, Max. for the Thanks

is test. going way to designation QX CSF think do the I breakthrough what that going probably able that Obviously, when NFL ultimately and XXX the last Patients. Alzheimer's. heard relapsing-remitting this and And breakthrough had blood. or the our designation measure to NFL measuring whether the it's the received very the XXX just is look year quarter, for this So about in that about -- and test, at at we being on MS for the be it's to We you we best test, in screen NFL on in look we excited

to so, as because us, it that a a pet. now measure we as serves And is CSF to for can great marker opposed

So, approved, we plasma perfect we're very that the be think for the screen the happy but blood that it final will market. was screen ultimate

Max Masucci

antibodies. drug developers if how month changes a month amyloid now. your for in for NCD can (ph) and interactions past with been any any in sense regulatory about And the authorities Okay. over Great. customer past the And changed behavior and in beta Masoud, give the your us you Alzheimer's you've seen It's conversations final the months? since have just, base

Masoud Toloue

-- testing XXX, and there's our I NCD a other a on other XX. came for of more is pharma a more a more to out shots the lot XX, few do the And with interest goal think other obviously, and our XXX and now there Abeta few lot antibodies, Alzheimer's, with clearly, trials companies. the

Now, technology. is the that and tools people has our field. work those more when be is in consistent using what are that some And work, our doing done to they're

here. standpoint, FDA. regulatory difference our more this talk we're laboratory. don't So, and about year us, announced, some it's biomarkers. been the beginning We we time, positive in our examination any doing for see testing the at different lot of also major types designations At a more the of From also we interest IVD that LDTs CLIA same with of single-site at through looking breakthrough a

step future. And IVD as as so, and the that single-site in a then step second the first

Max Masucci

to We've cash their that about path path around Quanterix for the chart thinking you're about flow our great seen other be to profitability. It how of get for you're one breakeven quick Final just companies to profitability? Mike. number in the Great. would for any would into sense level revenue out a required or to thinking crossover details how a coverage be

Mike Doyle

early we've And we Thanks. in flow talked haven't 'XX, ROU breakeven Max. seeing about our on -- while up cash question, business 'XX. Great QX, Yeah.

this to haven't changed our our and there. a growth. but to our obviously and gave 'XX, guidance perspective, assign accelerate number, We this not maintain revenue come year that that of looking year, get that didn't XX% to posture our from range. of levels be revenues getting think ourselves That's the we're we on I revenues continues think We I into our into XX% but out to goal back historical

some color it that's future how in point provide probably in about thinking we're at that a So and we'll detail on call. more

Max Masucci

taking for the questions. Thanks Great.

Mike Doyle

Max. Thanks,

Masoud Toloue

Thanks, Max.

Operator

Thank you.

comes next Please Kyle from Mikson Canaccord. proceed. Our question of

Kyle Mikson

wanted the I to Hey, Thanks Masoud Mike. and with for Thanks. questions. start the financials.

remarks, the high-XXs that want just soft gross understand I of know, the your supply but like to Mike, kind that like near-term Quanterix the of is believe be just at recognizing number wasn't chain chain XX% topical one but what business, issues, for of explanation first dynamics, pretty And below on not there So there. margin, it's then maybe scale supply stronger consumables. kind there PS business I think kind margins I is margin accelerator that in mean, mid-XXs, could I but what would well of kind typical could that. understand I the gross Louis if is I think I any heard, in to

comment going how gross should can near on the have about think maybe just you this to I course, forward about next for just term in -- we like that? Of margins? then Thanks. And am curious Mike quarter,

Masoud Toloue

for Yeah. -- parts Thanks will start Hey, then and of question. of the the second in have I part Mike will I Kyle. on your chime that question.

mentioned products So, some we do our that, I ability trying quality we’re deliver process, to thing scale Kyle, to for way key our do get mix -- to specific organize customers. from as as demand us, is we changes the with we the And our we new customers. think inventory the and quality to way our changes trying that our to

low initiatives of part we that that view of effect see that us plan implementing. point, a that we margin process improving lot was margin a but these with on gross we gross So, a as

Mike Doyle

call the couple happened. pick on up it, To a things of quarter,

inventory. taken impact I basically we larger as in change was drove our go-forward and that and and mentioned in what's the our the had now we and -- and What our have I how a that manage a we reserve look our things think -- estimate We we quarter think have the hard methodology at basis in of in reflecting quality is discussed, a of had then excess we we scaling changed we think look doing charge record that different we’re in Masoud terms on. we focus for was the how obsolete. of up going terms there we we a

initial at So when worth that instead that make XX the at history effectively look you change you initial reserve. of was has to look change, worth which back back bump months’ a up your history the three month

So ways something on margin effectively amid-XX's in to this but that our march is is finding quality. going back your repeat our with we that's occurred point, Masoud’s scale what with not ground think really, are focus to I assessment that's quarter, very agree that's I towards. itself, that, way business to and that really

Kyle Mikson

Perfect. right. All

Mike Doyle

to as look, accelerator. Lilly year And beginning versus the regard -- meaningfully we and seeing -- year-over-year through as the a were result, our last And lab. really running regard leverage to that accelerator arrangement are that's with is start should of progresses. Obviously, that year beauty have we different margins there

We scale again approach is have it But haven't but at goal stated accelerator. accelerator consumables there it's, should time. put that we our for a highest said out business over before margin, our margin as

Kyle Mikson

just growth, obviously looking know quarter, walk remained application neurology application, Last this inflammation, XX% guess through like because you but is if what's oncology includes it's exciting the guys given strong, of interesting clearly just but driving immunology could sustainable, you Okay. so guys. it's was on oncology by I disease for or And much That was year-over-year. Thanks grew great. applications revenue that. that then type I flat. stratification

Masoud Toloue

Yeah. Thanks. Kyle.

obviously, pick for I neurology up a as us well. macro big think view from was a high

customers. see neurology of our we increasing demand side, lot the from a On

few area And said publications out. side, continues the publications came be as -- oncology that growing, an mainly immunology standpoint. academic side the there that's especially and that from were on the key On to you

say impact our though biggest been So, would probably has I neurology. on

Kyle Mikson

you Okay. your and multi-analyte end I like goal Actually note, many was some particular, to funding test. really that it's you've this to asked do receive how of this of the kind wondering, incremental with shots on for I'm path this, the from look to want and of diseases. have interesting, Foundation in with the kind so want the forward other type accelerate game, you Drug on mentioned other What's to test? that. about Alzheimer's Discovery Alzheimer's just And what's just here obviously testing

Masoud Toloue

replace five this doing with those or Yeah. way anywhere The think be in Hey, we've more look market till those to supplant seen developing this us, single when screening. diagnostic are with test and going up the methods. with Kyle. on the be to you at we what's important algorithm everything mentioned an analytes LDT, going as actually and you've to towards, then future a that's analyte look I or of that think test. these more a replaces now to filings method. be We invasive a even going so to up between multi-analyte we're or that's multi-analytes collaboration all and for FDA going imaging they're be this an very hey, And three that to some And to triaging what along four we're and start invasive able UMC, that's test funding test a test,

basic idea. the that's So,

we've So, announced. a from offering or different bit little today what we're what

Kyle Mikson

could contribution but implies at of the acceleration ask If kind a great the the curious kind question, what's just like performance? or Could Just of there an beating year second about half pharma that. today, that Great. half talk being right. least reaffirmed in it guidance Is something that? any in drive quarter. to guys kind going see baked forward, to I of about the clearly, final or All there going of second you second

Masoud Toloue

back have terms loaded our view Yeah. Yeah. that color. for Mike in end revenue. I'll take But of might it's that. And then is some definitely additional our

partnerships on we you you If on year. that I obviously and very really maintain to being exactly of area that offer collaborations, side quarter hit from it's big of the it our Lilly pharma and head, testing and the that is the of antibodies the with announcements how a performed big neuro back a track to going think the ability active in end is follow-ons look neurology we this part at, this And clinical till half. then Lilly, drive research, on testing, new

Mike Doyle

even had both the I Officer. that we quarter with comment in his think I only lot I new the we He's to think -- mean, going And Commercial I other fourth said year Kyle, start Chief on add, going would we're with that team. a to our we adding call,

other in that's and that scale are things going the resolving people processes and ramp stay as benefit to those enable second of lot the us focused improve think quality, Lilly of see we half All on part year of as we some us and the to our of to as half. us, behind in to part the I that of a second our first ability get you're accelerate these going

Kyle Mikson

much so Great. guys. Thanks right. All

Masoud Toloue

Thanks, Kyle.

Mike Doyle

Kyle. Thanks,

Operator

Thank Goldman you. of Please next Matt [Operator from question Our proceed. Sykes comes Sachs. Instructions]

Matt Sykes

of where maybe Are with year, morning. course the guys, in-line how of you see still we Good was growth of cadence think should questions, the about of last and as Maybe start about I the move the kind for side, year, I could in you OpEx we quarter year. talked increasing it this the or Thanks OpEx Hi. in growth 'XX? with third -- just Masoud think 'XX terms out you OpEx and over this through Mike. you on OpEx the

Mike Doyle

I down fourth think quarter. We're line. a versus in bit we're the

we're in opportunities in at get of around Masoud us. a our said going has were and had standpoint, mean, staff we to think of I I good a taken hard I begin a to place. we now think we look where from front we I sit the resource arms think right that to

more on, this consistency. have jump little here from I year think I we're in a going you up OpEx. to a don't that So should bit big probably Matt, see expect quarter-over-quarter

Matt Sykes

you kind segment in of that. of And Thank it. revenues. for terms then Got

being I think less and But over consumables, instruments. probably past this the in versus that terms we of here accelerator, higher about growth the instruments the course for think growth think of a maybe mix about you've year? for should maybe about so talked how consumables as in you

Masoud Toloue

Yes. can take one, I that Matt.

So, of in field, that utilization. that have they're in the And our instruments we the that the we view increasing as result, are that obviously we biomarkers send also increase a is we way a of when accelerator field. quarter. see consumable thinking test this to the And have driving fastest get a send the to as demand The our in see lot or we a an answer to accelerator. on sample

And so, XXXX. back we the especially the see that of in year, growing towards half

accelerator attention. So see of that's we where consumables between a lot and

I be consumables but expect probably in the bit quarter but continue, think drive year. little and instruments is strongest the and quarterly, accelerator going can in the that instrument a to drivers

Mike Doyle

on instruments, you color Some Matt, because focus know that. I on

versus net Our quarter we this a higher what on basis, add what saw of a placement SRx been of remarkably consistent is we terms was in HDx. mix activity

impacts have revenue our that chain. priced that highest So, you is these HDx mix impact

So, quarter, was a consistent we in the what of you overall going mix mix It's with just net though look bit a when issue at a had placement on QX. SRx. was of activity even our towards it little more in

Matt Sykes

process on QX. in you put you place QX. of more one in like last put you a then place inventory Got in one-time that Mike, terms one is and the in just And management it. the event It of reserving for Great. this sounds

sort trying earlier margins gross the should call, upwards you expect nature in the So of about maybe about to are can process just of these understand but as me help we adjustments it talked thinking of and year? Is isolated QX we you these or that be want through the move works. how about types Just to of should to forward understand sort one-time move improvements? as

Mike Doyle

we gross there's that It's that was Matt, two the Sure. high. just amount to because One a our question, obsoleted in -- the is margin and of activity. components quarter, really good product

as estimate looked result high. also -month how at strong I and result for a a was we three at there a at think looked then, QX we what's And going to of so, changed of back. a versus we've went reserves and month XX we that that look taken our a basically that we on back activity, look our as look

be bumping activity, has when So, component in the and you do happened reserve, actual potential is obsolete the we're that Masoud inventory don't have in-house, manage to that so last the the high how about we obsolescence focus Obviously, of the that's other the couple had talking ongoing. as initial one-time, up that -- the is we quarter, that's you're that but better quarters. and of is, we've what rate the product time do a of more which as

manage that it’s a persist. we going one-time. of is the matter to inventory But So, more actual estimate forward. now how adjustment could And then just

there point. I that's So, managing expanding and there's after I but this but that's possibility, think both I working too. to bumper, don't point the this where always from margins Masoud could a a I they towards, believe be that what we're are we're going suspect margins to know, improve

Matt Sykes

Mike Thanks, it. and Got Masoud. Appreciate it.

Mike Doyle

Matt. Thanks,

Masoud Toloue

Thank you, Matt.

Operator

you. Thank

Souda Puneet from of comes question Please next proceed. SVB Our Securities.

Puneet Souda

my Masoud Hi, thanks question. for and Yeah. taking

you elaborate a maybe level high penetration product seeing a at just HDx. So this, time at on those for can missed product first, for maybe versus bit this point continues What in -- SRx. this first is, you to one I ask and were who

you I stronger SRx out quarter. in pointed was the more think

think the understand with there? I but there slower I story mean, mean, side think input of of Quanterix about maybe before, there was or sort us in even just or think XXXX, XXXX help side trials. of things going the also clinical the obviously, how had just the should we more else instrument quarter, and on the largely a about as strong things placements. HDx how we about should we And something has maybe inventory placements that So evolved or was was

about as the term Thank well? placements business we you. of should longer core overall think So, how instrument

Mike Doyle

Puneet. Hey,

a So, I HDx or mean, the hasn't throughput instrument in It's and academia and use the that CRO the hasn't in the there still comments story customer from throughput instrument for that I throughput variation our Obviously, users. changed. low SRx high and high think quarter. still changed are comment customers some significantly. we've got preferred

changed. hasn't and interesting tested to that through there's our as changed, get view samples biomarker as Accelerator with you fast how So, is it's we But breakthroughs, access your as new have that, Laboratory. as can what an has and and we that that's technology, possible announced XXX, new

growing demand over we we that accelerator shots And year Alzheimer's some see goal the market, so, announced. that for expect just the you see of our the news some this the next to new of drugs biomarkers based on in some and faster year on

So, of but or towards and events that's on no bit shift a accelerator our mix little a changes significant instrument. consumables,

We expect continue. that to

Puneet Souda

And versus where result, you're you Okay. a than help NFL number given our you're side. the you momentum us you're understand, great. product on that seeing can That's bit keeping little half came mean, study expectations. of second that a a Obviously, large softer which And guide your had Is you maybe the more things. as then I in intact, makes obviously, the now steeper before.

we on try on a comfort others. so do help momentum. which just us to essentially where versus expect maybe most are most the to just understand should of Maybe us bit help going we more can see where little -- to itself, details get segments the you So, guide describes see acceleration sort

Masoud Toloue

Yeah, Puneet.

to So end we increase, it's pharma the to and going accelerator customers. back have be way think continue our this we

together in even that and biggest our guidance we that's in that XXX, the increase. QX, NFL us. higher was combined your serum also So, that NFL there and is mentioned and with able get that think about -- that to the large that XXX a keep the a are a those and normal as part the very test study people's biomarkers we expect we key of study for QX, we while ultra-sensitivity whether where really The age one or is bigger pickup as is intact. wasn't pickup Simoa, demand biomarkers highest NFL positive levels it's and past, selling you level BMI NFL NFL we're our

or a and range that establish really study examined range. X,XXX put this together XX,XXX subjects So, samples, baseline and normal over normative

types database versatile that and a a to But MS. tool for completely of for more the NFL critical opened research. and all just not was public that that So, makes

and about So, we helps study of prognosis Basel, that disease think we that. large were It a was biomarker very very this excited that the activity. and

Puneet Souda

Overall, field. think the changes Do diagnostics, then competitive obviously, this any to And just last landscape. is an respect exciting with one. Alzheimer's Okay. on you

but the So, it of Obviously, wondering, get other seems to I'm just landscape? that you you good to have have, in designation you. rest products, some around mean, there seeing are on it's is a just you that market just of the the significant NFL, your competitive as XXX the NFL capability. I interest. wanted and you own sort these of the being how see capabilities given overall, is from changes breakthrough sense you the the evolving

Masoud Toloue

Yeah.

to is emphasize magnitude mill I one per disorders, it's test our other the XXX the Alzheimer's. example, about So, the of and of LOD thing required pTau-XXX, there. out our And than pre-cognitive Quanterix better X.XX (ph) local pretty as in and [indiscernible] sensitivity measure some [indiscernible] you for that two that's orders including for blood at would hard tau phosphorylated for think sensitivity

if that more the think contact going pTau-XXX us and have the in our blood delta products it one competitors, that the and in magnitude I two to market. around you're we test of So, is sensitive orders especially of some of in between

were is test. this a because in and just to -- research invasive more step obviously CSF compare news, measurement, CSF, in for the that very some for test market good general think We that's the more sensitivity that need for remains cleared we positive can in test news news, invasive. less We CSF. about have some also the which that direction FDA good around are you excited and we I So, has

interesting. So think is the overall, I dynamic

see You lot of a in to activity. We're participate excited it.

Puneet Souda

Okay. Thanks, guys.

Masoud Toloue

Puneet. Thanks,

Operator

Thank Masoud Toloue for you. now to I to turn would the closing remarks. conference like back

Masoud Toloue

peer-reviewed I findings need our to we when And new quarter, and joined that even very simple into technology was between is this disease. for a needs and more as we doorway every that it use think our a joining technology, get research for MS, a technology towards more that, So unlocking And day. demand debilitating for Quanterix, like Simoa Epstein-Barr than hands. which focus intervention On two every are employee more equally simple research and there every discoveries was customer day, available, between I this -- and simple. opens it's discovery one Simoa so this and talked attention, that to was like increases for about the make linkage average more

incredibly And begins new user in a the operational changes process base. will with scale with model, talented to this so, organization one individuals close be that And of our and ensure key areas our several connection of focus quality. will the

on So, you calls. journey to it's early updates this progress forward and stages look our we of in subsequent providing

Operator

conference This may concludes call. for today's you disconnect. and participating you Thank now

Quanterix (QTRX) 10 May 222022 Q1 Earnings call transcript