Quanterix Corporation reports revenue growth, advances in Alzheimer’s diagnostics, and continued progress toward profitability in 2025.
Quanterix Corporation , a global leader in ultra-sensitive biomarker detection technology, has reported financial results for the fourth quarter and full year ended December 31, 2025, marking a pivotal period of transformation for the company. The results reflect accelerating revenue growth in the closing quarter of the year, measurable progress toward profitability, meaningful advances in Alzheimer’s disease diagnostics, and substantial integration achievements following its acquisition of Akoya Biosciences.
With integration milestones nearing completion and cost synergies largely captured, Quanterix is entering 2026 focused on disciplined execution, operational efficiency, and its stated goal of achieving cash flow breakeven in the second half of the year.
A Transformational Year with Momentum Building
Quanterix concluded 2025 on a strong note, exceeding its internal revenue expectations for the fourth quarter and demonstrating improving financial discipline. Company leadership described the period as one of transition from integration and restructuring to operational optimization and growth acceleration.
President and Chief Executive Officer Everett Cunningham, who recently joined the organization, characterized the company’s position as one of renewed focus and readiness. He emphasized that Quanterix is now entering a new phase of operational maturity, supported by a broader technology portfolio and strengthened infrastructure following the Akoya transaction.
According to Cunningham, the company’s near-term priorities include deepening engagement with customers, strengthening investor relationships, refining long-term strategy, and ensuring that the combined organization is fully equipped to support scalable and sustainable growth.
Fourth Quarter 2025: Revenue Outperformance and Financial Discipline
For the fourth quarter of 2025, Quanterix reported revenue of $43.9 million, representing a 25% increase compared to $35.2 million in the same period of 2024. The strong top-line performance was driven by sustained demand for the company’s ultra-sensitive biomarker detection solutions across research, translational medicine, and diagnostics markets.
Despite the revenue growth, gross margins experienced year-over-year compression. GAAP gross margin for the quarter was 45.7%, compared to 63.0% in the prior-year period. On a non-GAAP basis, adjusted gross margin came in at 50.0%, down from 57.7% in the fourth quarter of 2024. Management attributed the margin pressure primarily to product mix changes and integration-related dynamics associated with the Akoya acquisition.
Adjusted EBITDA for the quarter reflected a loss of $7.9 million, compared to a $5.9 million loss in the prior-year quarter. While the loss widened modestly, leadership underscored continued improvements in cost management and operational efficiencies that are expected to become more visible as integration activities conclude.
Importantly, Quanterix ended the quarter with $121.6 million in cash, cash equivalents, marketable securities, and restricted cash—surpassing its previously issued guidance of $120 million. Adjusted cash usage, excluding one-time deal and restructuring expenses, was just $3.0 million in the quarter, signaling tighter capital discipline and improved cash flow management.
Full-Year 2025 Results Reflect Integration Phase
For the full year 2025, Quanterix reported revenue of $138.9 million, a modest 1% increase compared to $137.4 million in 2024. While annual growth remained relatively flat, the acceleration in the fourth quarter suggests strengthening commercial momentum entering 2026.
GAAP gross margin for the full year was 46.8%, down from 60.5% in 2024. Adjusted gross margin (non-GAAP) was 47.3%, compared to 54.6% in the prior year. The decline primarily reflects integration costs, portfolio expansion efforts, and operational shifts resulting from the Akoya acquisition.
Adjusted EBITDA loss for the year totaled $44.9 million, compared to a loss of $23.6 million in 2024. However, adjusted cash usage improved to $30.9 million in 2025, compared to $32.2 million in 2024 when excluding one-time transaction and restructuring costs. Management views this improvement as early evidence that cost synergies and operational alignment are beginning to deliver tangible financial benefits.
Advancing Alzheimer’s Diagnostics: Regulatory and Reimbursement Milestones
One of the most significant developments during the period was the advancement of Quanterix’s Alzheimer’s disease diagnostic program. In January 2026, the company submitted a 510(k) premarket notification to the U.S. Food and Drug Administration for its multi-analyte algorithmic blood test designed to assist in evaluating patients with cognitive symptoms for possible Alzheimer’s disease.
The submission represents a major regulatory milestone and aligns with growing global demand for accessible, non-invasive diagnostic tools capable of supporting earlier detection and intervention in neurodegenerative diseases.
Further strengthening its diagnostics strategy, the Centers for Medicare & Medicaid Services (CMS) established a reimbursement rate of $897 for Quanterix’s LucentAD Complete test under the Clinical Lab Fee Schedule. This nationally recognized reference price represents a critical step toward broader payer coverage and commercial adoption, facilitating claims submissions and supporting patient access to multiplex blood-based diagnostic testing.
These regulatory and reimbursement achievements position Quanterix to expand its presence in the emerging blood-based Alzheimer’s testing market, an area widely viewed as transformative for neurology and primary care.
Akoya Integration: Expanding Technological Capabilities
The 2025 acquisition of Akoya Biosciences significantly expanded Quanterix’s technological capabilities by adding multiplexed tissue imaging with single-cell spatial resolution to its portfolio. The combined organization now offers an integrated platform that bridges blood-based biomarker detection and spatial tissue biology, enabling a more comprehensive approach to precision medicine.
Management reported that approximately $74 million in cost savings related to the Akoya transaction have already been implemented. With 94% of integration milestones completed, the company expects to capture the remaining synergies by the end of the first quarter of 2026.
The strategic rationale behind the acquisition extends beyond cost efficiencies. By combining ultra-sensitive blood biomarker detection with advanced spatial tissue analysis, Quanterix aims to create a unified workflow supporting biomarker discovery, translational research, clinical development, and diagnostics.
Continued Innovation and Assay Expansion
Innovation remains central to Quanterix’s long-term growth strategy. During 2025, the company launched 13 new assays, expanding its portfolio across neurology, metabolism, immunology, and other therapeutic areas.
In the fourth quarter alone, Quanterix introduced two new Simoa tau assays—pTau 205 and pTau 212—further strengthening its Alzheimer’s biomarker offerings. It also launched two new Phenocode Discovery panels: the Metabolism Spike-In Panel and the Mouse Neurology Panel.
These additions build on the company’s proprietary Simoa® platform, which enables detection and quantification of biomarkers at concentrations significantly below traditional assay detection limits. The platform is supported by approximately 6,300 peer-reviewed publications, underscoring its widespread adoption within the global scientific community.
