QTRX - Earnings call 3 2023 | Quanterix Corporation

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Operator

Good day, and thank you for standing by. Welcome to the Quanterix Corporation Q3 2023 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Ed Joyce.

Ed Joyce

Thank you, Hope, and good morning. call Vandana Toloue, Officer. Sriram, today's of and on and Quanterix our me is President Masoud CEO With Chief Financial joined as in August us transitioned Vandana retirement into Mike early Doyle XXXX. in

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

provided a recent financial basis, the in the company's and known factors and comparison here analysis presented performance performance results in in that are are other should on To The non-GAAP allows presented meaningful the turn with presentation filings The posted or or Investors results from the financial information uncertainties accordance the period that substitute involve our we not non-GAAP achievements comparing company's and be for website performance assumptions statements results, supplement financial to believes that these that in risks GAAP performance. to or measures may to the its the statements of and current such measures. most company period-to-period GAAP. Masoud. presented and any forth company appendix be in to unknown are uncertainties, considered release with performance Commission. the for most forward-looking financial our Management a financial with evaluate operating Securities face The Exchange the certain statements. trends measures has operating uses materially business. useful measures now earnings as in by set conjunction non-GAAP GAAP non-GAAP different call review the actual in results, assessing these a information other in the achievements manner risks, and of issued described and Forward-looking future and measures implied over cause in encouraged reconciliation directly of are to to I'll with their comparable our today. important expressed

Masoud Toloue

in year-over-year XX% our the $XX.X million margin cash and do under non-GAAP up to prior use us expected out disciplined to going year-end, financial throughout period gross six-quarter Thanks, X,XXX improving and so million, We're Ed. morning, results quarter, revenue reflected over positively in new this in improvements to on thank production is rolling platform call. Good year this the you joining off January. last Incremental substantially continue third announce year for the $X been be complete with everyone, year scalable laid $XX made points million quarter. our we plan pleased third and corresponding to quarter assays basis to XX.X% by for our have from transformation to with

developed. our proteins in new Simoa with new We'll to, the that's solutions one generating the continue earning that's margins will cash research leader lowest one enable ops levels. On of measuring this and business capital patient continues first, biomarker take to foundation testing the improve second, platform, it. to expand our from to at and to be access detectable platform; gross we deploy recently we've

study X,XXX instruments. the multiple The highlighting the over data of blood from under translates can the area dementia, VUMC study we with neural lot In ADDF measurements additional XXX neurodegenerative spoke including broad month, test all labs, We and efficacy and 'XX, This by. for PET but blood-based was Of temporal the disease lots, like technology as neurotherapies ultrasensitive biomarkers at curve for through Medical increasing Phase and differentiate data of this accessible for or about and a those scale XX.X%. an aid included Alzheimer's, rate, under the and key Simoa labs. several run testing margins. necessary Alzheimer's clinical improving suggests the innovation to correlation clinical to ourselves Lilly goals scaled, and high about Eli multimodal at are to very monitoring, over amyloid low platform. we're trials trials quantitation measure delivers operators limit of disease for said of Early talk samples Simoa's and Last area this just the Alzheimer's means we a going lobe determine year such of the Alzheimer's measurements disease. a Center Alzheimer's positivity ensures operating of demonstrated of biomarkers, identify biomarker presented differential with a to dementia on combination that metric of such and ubiquity, PET Their beginning threshold for a The an dementia. p-Tau to blood-based with p-Tau algorithm, frontal presented potential year, lot Simoa's frontal clinical ultrasensitivity a Simoa of reach. disease, blood biomarkers p-Tau not in and are was of small-based diagnosis and clinical diagnosis diagnostics. Lewy XXX amyloid working the I we're these limited p-Tau CTAD analytical measuring validation to curve discerning bodies. As our in support Nfl using that other forms digital going the Amsterdam trial blood of instrument is diagnostic in that by diversity of presentations, Simoa Recall, revealed X.XX. performance levels meeting, to XXX. to utility immunoassay of high-throughput VUMC specialty biomarkers

clinical insights develop are impairment cognitive Nature at participant X,XXX-plus early certain why the a in trial pathology. Reported in work this done tau July, promising. While there's do be in much more Medicine not amyloid-positive including without examined sites, patients to study, study work multicenter

Simoa to used reactivity researchers AÎ² found by at look the influenced on led measuring pathology blood. in of in astrocyte Our at study reactivity tau The astrocyte Alzheimer's effects Pittsburgh levels was University by GFAP disease. preclinical platform

X Now these points. studies emphasize critical

terrible significant First, research for invested more be clinical a where Alzheimer's. be work lot and a and there's entering will left this done with in to trials believe decade and capital we're we effort disease,

require on at of the innings Second, prognosis diagnostics sensitivity. disease which blood-based highest expanding we're early and and into both of precise of biomarkers treatment, levels in there the focus a will will screening be where staging,

neuro As indication observing biomarkers it the latest results, based with and trials the of an future, on that research, be we're multiple and will will tell whole together measured blood story. what the

XXX Simoa high-accuracy technology levels early and and new XXX Finally, in antibodies signed p-Tau p-Tau & disease test, can arise. Alzheimer's Medicines well I'm happy to with Johnson very elevated ago, to testing. weeks provide before that Innovative a agreement the stages become p-Tau report Alzheimer's disease the Johnson ultrasensitivity biomarker XXX we symptoms a J&J's blood-based LucentAD launched continuum few of Quanterix's combining

the We diagnosis. National XX%, the the performance disease. use it first plasma biomarkers on exceeding the staging time supporting a use diagnostic in the important defined for test only XXX Alzheimer's in a achieved at and NIAAA historical and for capitalize accuracy pathology. fluid-based puts guidelines for because from these p-Tau diagnosing specificity we're with Institute Association, to criteria the believe amyloid case for accurately revised imaging. test and being strong the the the standard These are of field each sensitivity, same to on PET of XXX trials of appropriate criteria p-Tau position outlined biomarker validates criteria Aging of meeting diagnosis overall clinical was a opportunities an with Our in use and This blood playing

number With discoveries the new and biomarker of in to we're system position our simplicity role. maintain leadership the long-term our platform, on a sample-to-answer a great happening of

Now to over Vandana call financial cover to I'll results. our the turn

Vandana Sriram

Good Masoud. you, Thank morning.

exciting me you potential. It's take to to our through quarter a our I'm really our results and start on technology a for update role, Quanterix be an the I'll I'm with First, in saying let team. its of impressed guidance by of here XXXX. part after third months even be thrilled couple that Today, and time and the more

increase Our total million, XX% from revenue an third for of the $XX.X quarter of XXXX. the third XXXX quarter was

and revenue in peers, will $X.X timing the line instrument CapEx Our of quarters fourth we our quarter over Consistent slightly constraints up trend a the third was million, the XX% and with a to of quarter. continue instrument prior impacting the with of sales, expect prior see in continued we quarter. decline versus XXXX

the to up well demand. from improvements third million we lab manufacturing $X.X third or $XX.X base Our processes than million, of consumables This installed revenue able XX% XXXX. our with of over increased last as accelerator quarter year. speaks catch to was quarter our to compared the more were as our double the in of as Revenue to strength

offering continue an to been especially differentiated Our accelerator environment. and providing be and current in alternative a projects in have valuable their customers services effective to continue the funding

on move quarter. the let's to margin Now for gross

in and profit the to and in $XX.X million third and $XX.X quarter compared quarter year. XX.X% in the XX.X% quarter and and last of XX.X% XXXX. was as Non-GAAP third million XXXX profit million margin for third margin was XX.X% and gross $XX.X Our compared of GAAP to gross $X.X the million quarter of the

Our processes, our corporate performance. is inventory has transformation efficiencies and evident in drive enabled and our gross margin reduce this to losses in us

compared of were to quarter third GAAP the Our XXXX. million million quarter expenses in $XX.X third operating $XX.X

fees to impairment in costs. primarily XX% of operating increased GAAP of million expenses onetime of impact consulting due third were the XXXX, personnel XX%, non-GAAP higher expenses up Excluding operating quarter charges $XX.X and and the

Our from million margins of our the improved redevelopment XXXX to in the as well third as million other of higher net quarter and $X.X $XX.X absence of XXXX the XXXX loss from third program, in to interest from income. impairments the due declined quarter

and of of on net $X.X million million XXXX. in during burn third the $XX.X total Moving to equivalents, quarter with usage We to in million third quarter a compared of cash cash $XXX.X as quarter the the liquidity. ended

efficiency significantly cash have burn. translated year-over-year Our gains to reduced

fourth guidance of Turning now for quarter the to full year XXXX. and

As in the of we've efforts transformation with and progress Masoud the last redevelopment great are mentioned, six-quarter our process. made

we in fourth introduce production XXXX quarter, assays as our and new on in transformation. the we steps of and our For of upgrades the executing lines be final on focused readiness will

our revenue be million between objectives million year $XX our in fourth we mind, our $XXX the range these to increases the be million $XXX of to million. $XXX With to and in million. million compared expect quarter of $XXX range previous for to This revenue guidance $XX to

be to and expectations high year percent We XXs percent anticipate also approximately GAAP in non-GAAP be for are gross XX%. the now increasing gross margin the gross and our margin to margin

to to we upgrades gross be As the account expect slightly for lower mid-XXs in past to higher for changes. margins non-GAAP from processes, implement quarter, the we our costs potential these quarters transitional than fourth production the

Lastly, $XX estimate range million. range expect to our to $XX usage the we of our million, now from an prior full the for improvement to $XX million in cash be year $XX of million

expect cash initiatives to quarter fourth payments. in of the We due timing certain and outflow higher the

this year, XXXX. improvement a the reflects For significant in over burn cash

across the key all guidance strong transformation goals. execution continued against our increased and for Our Simoa demand reflects our metrics our technology our

support Our I questions. balance take to over now sheet will our and to back positioned we well we initiatives. it strategic your growth strong, before and Masoud turn remains are

Masoud Toloue

focused for Darrin, team and I have COO; thank Quanterix Vandana. pursuit. been entire to Thanks, in their this hard CCO, Dan, relentless and work want copiously our effort. the our

come. result, engine As for solid a developing building and for new platform operations and been the in there's product remarkable existing products to releases progress a scaled

about tell, year. excited you we're next can't If super

Let's some take now. questions

Operator

with Genuity Instructions] (sic) from Kyle [Operator Canaccord ]. first question Our comes [ Mikson Canaccord Gentuity

Kyle Mikson

the Congrats on here. progress

questions with agreement p-Tau with few I starting Janssen, the had Just new off that. a XXX about

suit, the talk revenue think years $XX you I for year. million could about deal was in about with ago, economics? about Lilly in First, full accelerated X.X that a

important an going on Lilly this with relationship analyzers here? brought by is Alzheimer's well. using and one change for So Lilly forward? Lilly Simoa test curious a comparison Then working was Will in vendors it own clarification. agreement, if and the assay other partner does any just with as Then for because the maybe its be you remain there's company

lot Thanks. the So -- question get that. I a about I'm just

Masoud Toloue

any Thanks, we announced the your deal on question, answer J&J of sort Kyle. agreement economics so the haven't Yes, to that we first signed.

your a Quanterix expects hands. that and LDT kit in lot to I would on economics into say it from second we're folks' was question, However, of doing of the XXX. broad to and majority our sales our of trying and with XXX the what the use To come get think -- market the I

want we into at collaboration. is a our view and data XXX hands continues great on Our with possible. as very collaboration as to think it's many Simoa presented get that the -- We to it Lilly we CTAD try platform. on strong some They that

our So but solution, we Then continue. this expect solutions available LDT, make want both we that it to is on the relationship J&J to using market. to

I third Kyle. I might have it think you a there, question, had missed

Kyle Mikson

or good. to so be is the Yes, be own right? far, that vendor? going analyzer other It and was has Alzheimer's assay some based so -- -- Lilly going assay, Lilly on Simoa its Is to

Masoud Toloue

Yes.

a platform and clinical So There I in meeting. think some of clarity there strong analytical was XXX. at was the Simoa the CTAD early validation

of platforms in and sensitive one the market I expect I this, As efforts lot continue. around XXX, and Alzheimer's there's collaboration We're different our to of more and a solutions ones detection. the for of view types

Kyle Mikson

we're perfect. new here. influential That see how early question? about are? questions with NIAAA if Then of tests, the the that was of I and products, talking as terms well? like kind novel Like, decisions finalized, regarding the these tests reimbursement pretty recommendations good guess, is was in still guidelines, CMS going these those Two guidelines, key size impact sort ordering It of against grain those curious recently. a the to Given I was how days. of that could

Masoud Toloue

We Kyle. with that, Yes. agree

see think guidelines I to NIAAA was nice and it the criteria.

direct for We've to it's -- the to as this, was trials. was and there. point, sensitivity a has at if required it up playing down agree terms I a the of it's in and on that's could totally clinical look the been years, to road. answer for while that's obviously, -- a your is think blood the XXX has effect and the working clinical with been test One, it same think pretty with if influence Then blood, decisions on accuracy a big really the PET, I guidelines. going two, test their required what clear partners the through I high. not be in came data recommendation, field our you a in blood high the strong

the applaud picking diagnosis. for a test marker for I So great really great and organization

Kyle Mikson

I Perfect. before One more off. hop

kind of on break as revenue. Just guess, the P&L out, and, I you

softer I of this lot a has was if but you Product You was is macro parse in out, than quite those XX% a revenue Service instruments year-to-date. service. guys there, have headwinds quarter, the strong. a items, onetime down, product declined little think, bit but year-over-year lot it

Then drive going. just So why mean, recognizing you overall has I been service much relatively CapEx this and to revenue that's not and instruments, longer program been -- you to has revenue solid revenue the that soft, the recent on Why particularly how have growth? product due recently? for constraints. rely accelerator and Maybe, would

Masoud Toloue

that would think recently, that say been Yes. more of first, I has CapEx do with year has the Maybe program instrument least additional building constrained have say if we where services. our program Vandana can that some accelerator and redevelopment to saw and Well, CapEx our what I'll color. a transferred really that at with then was softness, related, start this I'd platform. you you that people do

out quality that or made we I the to of door at about, level be think to the scalable the announced things that Kyle, quarters going when sure X say, going wall, built we you program -- added X highest be things and think quality. are if were we going

the there's year, in a products getting of the and at year going to to level highest our be customers. them throughout always on So focus

going and a and overall, door out But customers, utility our on to platform the usage the consumables the are good. some per is So basis forth. back

run see, As a you folks program, our to can these accelerator and lot come trials. our use of want to program

So we're softening in. area we nor and that we Simoa any the platform, see on using the don't see in desire and it do demand

Vandana Sriram

within instruments add, just if X% and consumables Yes. actually up you're year-over-year and I'd sequentially. up XX% are product consumables, combining revenue,

very seeing momentum we're on pleased So with we're the consumables.

up volume on this expect, do we do processes. one you catch-up a see and about continues, was improvement out, bit We to quarter. out But we as this accelerator, struggle continue as sequential macro. overhang come of we of that little balance as through expect is our saw pointed overhang Some this the demand with streamlined X%, which were we instrument. We the extra to Instruments, on instruments to a us. the continue soften to helping for of

Kyle Mikson

and the what for Okay, Vandana, was consumables? That helpful. super catch-up was

we're too. you catch the can if like that, questions getting -- quantify that, Just up

Vandana Sriram

But it went can at if our Yes. at were up [ last you ] I'm we terms. sure about quantify improvement, look this $XX.X quarter. in million about $X dollar million we quarter. sequential not just We

on of little demand. up catching have just of bit All a these pent-up

with at and fulfill team point state. steady on back we a are Our is a now up couldn't kind orders where we mostly we're caught of now that

Operator

Our with Sachs. next Matthew Goldman from question comes Sykes

Jake Allen

my Sykes. Jake ask Allen questions upfront. on is for Matt both This I'll

could the into timing pathway margin of the for on margin which have us FDA broader menu and approval expansion, give trended LucentAD given thinking First, of for ahead about IVD you additionally, you made we should business, that a the be progress the of expectations? profile how for and an the update gross test? longer-term biomarker has filing Then

Masoud Toloue

there is our as take The I'll -- out these first your so we're that ensure can. Jake, strategy mean, as I we as we've as getting question. and early fast FDA an organization always to said tests

Boston. been laboratory has in that certified So through mechanism CAP here our CLIA

start. So the that's

make to a the these approval, But plan meantime, can on we also course, we timing, the do tests to to testing is done sure XXX FDA. to through in quarters our agency. several and Then through CAP the time, within our We FDA CLIA think that that believe going on important. depends submission next take some go in lab also is getting of that the should be of have terms

Vandana Sriram

gross do performance talk on this mid-XXs number that, let and quarter we the early did term margins, a an I'd me as much margin longer be. exceeded and because but production see Yes, gross previously the accomplish partly say Near we expect margin improvements. of We term, implement signaled however, expected then to We well. than the all in for better the fourth amount expectations I'll our volume, to address little where we would had bit similar and because -- near-term term, Longer of of about trend we -- XXs we to our our quarter, the we some going changes. of still into partly a headwind as wanting guided quarter, margins XXs. in early we've

We continue of significant start some will to that, a a Product of that. mix our towards as being out new assays. obviously processes as the lot There's that. well of work spin impact to how part timing factors quickly production of that

Operator

with next from is Brennan Dan Our Cowen. question

Daniel Brennan

first the on just the Maybe one guidance.

success You've year-to-date. had some really good here

Just it done very you wondering fourth did looks what guide, on what XXXX. light in implied you've conservative quarter in compared to year-to-date of of the kind

can fourth for thinking wondering, are Then fourth we give if you thinking early a guide? just any be still double-digit us quarter, growth just the I'm or So expectation should read on quarter little past there? that cycle color 'XX about we we how

Vandana Sriram

Yes, the Dan. thanks question, for

line the our assays of So on be our starting to and I fourth second the having for mentioned earlier, implementing quarter, we going on last for shelf Masoud XXXX. focused transformation, the hyper are stages as production and up

to velocity in So the that mind, with go which out. our consumables impact that's at going

overhang and for hand, talked have line good other of get is still which On on. unpredictable others sight have instruments, macro to the the about, that hard for us you

try the less the in the has number basically said, days, towards mind, for balance a also that businesses, in we fact those that work guides which With working fourth impacts services continue quarter to keeping year. number. next keeping our to So out we reasonable to double-digit

planning more we'll definitely expecting of for headwinds that. for define that a now, As quarter and size to start and that to up the these quarter, have more. the little we get bit into February fourth But some

Daniel Brennan

that thinking Then test a of timing compared blood-based about the both think to one sensitivity how we maybe we and PET should specificity on Alzheimer's. we about b, Then on How for the think and implement? rule-in? Medicare just you're looking be various coverage tests about when to should as rule-out

Masoud Toloue

Dan. Yes,

the XX%. did very the to I above we to NIAAA the So we guidelines, around I trial, site, Then draft direct test would XX we both clear looked studies, on the need which above guideline we was it this, U.S. When in are sort was folks side, XXX one achieve were we did in were Alzheimer's was the Amsterdam what tested. guidelines. the of accuracy an There, criterion think studies, which dementia also individuals would X sites. is the that that Bio-hermes a saw In at a accuracies able multicenter NIAAA. cohort, large clinical the or XX%, that's

So happy very about that.

question I wants think that's your to timing going any case the field of Then to be sort to same try that test question? second Was as of on for that on reimbursement. the be PET. playing was the

Daniel Brennan

Yes, How we -- pathway it forward for Medicare. on was Medicare? think the do

Masoud Toloue

Yes.

important, people local the so I expect be maybe Medicare laid that determination hands more in So say becomes future. the neurologists a out year the becomes by testing this perspective, and initially that or and but timing more Hard it we hope performing it deserves. as and to in from attention it coverage NCD gets of next the either path, potentially in maybe or will the

Operator

next with Our Puneet Leerink comes question Souda from Partners.

Puneet Souda

the drive -- level I covered, the deliver would this the XXX, if performance here? obviously, on way? performance of should assay to about quite to first we is needed of assay CTAD. cut well p-Tau done There has one, structured improvement maybe p-Tau Simoa at so be a X also expect was on bit What's where Can but that that, and a discussion Masoud, you the that that discussion historically. just if was there was performance maybe talk know don't

Gap]products just about [Audio how are[Audio Gap] talk Simoa's you So position that can maybe

Masoud Toloue

the got part cut off hear the I at first question. you can got there but the me? end, of You Puneet,

Puneet Souda

Yes.

labs I mean, do about also if what Just reference too. how you do that? you could about think -- talk competition you

Masoud Toloue

Yes.

as we sample X looked sample large cohorts. So I said, X at cohorts, different

I that's rule-in be same test, incredibly diagnostic to test some you blood could would playing CSF comparator, on or something you is at be PET. going rule-out, meaning important. There look start a or you're think X obviously the as the doing a to field cut-off the when or be it know, approach -- either

we the X-zone was So It recommended basically intermediate It X a approach. use of cut-off pathology. and by high the draft risk establishes reflects amyloid NIAAA low, and guidelines. test

So cut-off have to samples then pathology. reading likely have are upper the samples the reading below unlikely the that are to pathology and cut-off above

we that CSF. if the move So I to more type the above the going as Then would terms in guidelines sensitivity that you're of used accuracy. requirement doing of not the be be think and test -- becomes XX% is or that imaging more forward, required,

and sense cohorts. and in the had accuracy assay Our both spec

clinical I p-Tau promising. at remind effectively dementia. cognitive decline, want broad milliliter cognitive incredibly blood, and to early it's where sensitivity doing femtogram subjective getting was the per you're in that That's it in that So decline, XXX that measuring mild looking just stage a patients Alzheimer's samples, folks are range. then the

highest of ends spectrum. that's sensitivity broad-based in measure the early you to a pre-symptoms, the be be that's patients going test or able stages at going you of of If effectively decline, folks has future in the the want all want for to a test cognitive that to

able seeing, XXX guidelines platforms range some patients. these that Simoa to and not of on the based We're cover will think do and things, happy be be all and all I broadest tests the not to that able to the So platform of are going we're the data that.

Puneet Souda

I helpful. enough Got now additions is of biomarker XXX the the to biomarkers XXX, that you launch clarify significance required? Then just XXX, wanted to think obviously, with for given do just XXX this multiplex and that the think the adequate are field? do had -- Or of the how you timing you it. additional Super -- for but

Masoud Toloue

question. Yes, at some was of CTAD the good that We there -- meeting. discussion

want I one diagnosis, is where is clear diagnosed, want what clear But treatment be monitoring, -- prognosis, said think been earlier. all seeing, differential required at to to that for has very also of it. field, XXX this It's evolving on is established, high. multi-marker well I the just patient going tests, very I not staging, thing make it's trials that the to be be those comes and important There's if based likely sensitivity make in, diagnosis an are important. that What on there's patient. latest going is to the the biomarkers going we're you for one each several they're following that's to and look clinical and and research, I

sample Nfl incredibly measure where same So run, sensitivity bandwidth to at you be to GFAP is important. having tau patient a to you're the same able platform wide or be same a on going have the time as measuring or AÎ²

XXX marker So single I right, the diagnosis. think you're for is

based. can likely enhanced and time, it multimarkers a of is think multi-marker the to patient prognosis with be I of measurement over a staging period then be

Operator

with Our Genuity. next question from comes Cannacord Kyle Mikson

Kyle Mikson

well. revenue So next with this quarter [indiscernible], like fourth noise it be in some kind for rollout sounds guidance, year which it is Obviously, line improves as conservative, full these this assays could levels. create year, XXXX, you year next growing of of and analyze could if fourth if possibly but year's the this pains macro new of the quarter in on the skews

of kind there's a going lot on. So

would could the as you or just next can well growth be too. thoughts below above for maybe that through get helpful, you walk to Then factors year? in double-digit swing target main on the XXXX any So cash usage

Masoud Toloue

comment margin then on broad can and on a give stroke there, Vandana and operational I'll of cash. Kyle, efforts the the some

now assay as and a the new accretive. you last margin So the believe, line QX in be are assay and going lot really can of QX in deployments. resources what to quarters for We of right the our is on we're doing upgrades new see preparation in product focusing gross deployments these several that

and effort in lot QX, them Now from product into a quarters the new as those in focus way while we've business. line we X we're lines the an the be the that's efficient been QX But team. of in positive able and those lot to a will putting a expect customers investing for to get our products be and last We'll faster. of lot

on of bullish aspect we're So there. getting this that

said beginning and completed going lot couple of quarters. the in in the the be a we the prepared last substantially implementation very of have of to lifting, I now doing remarks, heavy As we're

just in to the about for our strong view that a for we're So strong we seeing and think February, continues research that continued business have similar sensitivity Then year, But talk sense. I next that's Simoa be we're have for solutions. what demand platforms going still that better and and our and guidance a said, to on that. we'll to Vandana that

Vandana Sriram

Yes. in Masoud and come I'd for with do be We a able said. expect consistent XXXX to very with everything keep that. us position strength building to say, to off of

the customers. business side, business to we other and working add drive cash the better is that to only will the continue prepared way thing we the Masoud in On performance, more remarks, the would efficiency, I our better about with his RUO mentioned think is, as more

the strategy. time, $XXX it and So continue to work to previously continue breakeven, to for flow breakeven. that. that we'll drive and At right guided to now, flow into to cash on we'll on number that will focused it's same towards we we'll deploy be million you now, We've really in it's focus to our $XXX very some continue towards that, getting million cash making to sure capital we really infrastructure. more our aligns and capital But and deploy will building us see small where diagnostics. focused our out Right

Kyle Mikson

Masoud, one just and matter, AD, sensitive Quanterix was you've to has of what in neurology type all we level the that then type that meaningful would helped biomarkers? [indiscernible] for specificity, most tests, XXX which on to do for the But a positioned that I than test screening. lead tests about markers one one. clinically these of stack announced certainly what options in test metrics levels some the the as That you as last what's AD? is Alzheimer's best note, ultimately up already how a diagnostics, out think type great, or I of the think for of with Then will monitoring rule-in be with number think of these sensitivity rather product that kind

Masoud Toloue

sensitivity, expect to Kyle. XX% a a and above. The I test Yes, of would great good sensitivity question, have

that's I than end point, the, think, a real your going specificity be if greater a To threshold-- test. it's So XX% to accuracy. strong

of also So a diagnostic. of are our I monitoring, believe for first, the important of -- marker seeing we've few I in on terms a a staging. is multiplex variants in But staging, importance that Nfl, lot that and new think in and doing that monitoring work Then sort GFAP we that's of been tau pipeline. of tau monitoring for types

diagnosis. So from multimarker. see being could Then a it monitoring differential perspective, I

is need diagnosis. important, Let's seeing provide that in for are differential Then for office, to additional sure, also coming pathology. There, diagnosis there, be tau is not we're markers amyloid I designs differential consider there that are folks but the and to need and the beyond the able of think to there neurologist's you'll dementia, that? what

multimarker with clinical working in patient a at few broad-based in own, including set So are that We're trials a looking looking this, partners. a we're several at setting. our we're where

I for think in and and do, diagnosis. much lot believe, Kyle, this a is to all work clinical research, of for what's the of best there's the still picture. XXX is additional testing a great, larger point we work the in of discovery, marker But

what's field in the at, the a sensitivity be If a from to picture. for whole seeing tell industry going that's you to require out all going look test to be able to markers we're it's squint what coming multimarker publications, at and

Operator

today's program. session. in for This concludes participation question-and-answer Thank the conclude conference. our your you does This

disconnect. may now You

Quanterix (QTRX) 7 Nov 232023 Q3 Earnings call transcript