Quanterix Corp
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 17, 2025
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Table of Cont ents
INDEX TO FORM 10-K
Note Regarding Forward-Looking Statements
| Page | ||
|---|---|---|
| PART I | ||
| Item 1. | Business | 1 |
| Item 1A. | Risk Factors | 18 |
| Item 1B. | Unresolved Staff Comments | 44 |
| Item 1C. | Cybersecurity | 44 |
| Item 2. | Properties | 45 |
| Item 3. | Legal Proceedings | 45 |
| Item 4. | Mine Safety Disclosures | 45 |
| PART II | ||
| Item 5. | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 46 |
| Item 6. | Reserved | 47 |
| Item 7. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 48 |
| Item 7A. | Quantitative and Qualitative Disclosures about Market Risk | 60 |
| Item 8. | Financial Statements and Supplementary Data | 61 |
| Item 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 61 |
| Item 9A. | Controls and Procedures | 62 |
| Item 9B. | Other Information | 67 |
| Item 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 67 |
| PART III | ||
| Item 10. | Directors, Executive Officers and Corporate Governance | 68 |
| Item 11. | Executive Compensation | 68 |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 68 |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence | 68 |
| Item 14. | Principal Accountant Fees and Services | 68 |
| PART IV | ||
| Item 15. | Exhibits and Financial Statement Schedules | 69 |
| Signatures | 73 | |
| Consolidated Financial Statements | F-1 | |
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Unless the context otherwise requires, the terms “Quanterix,” the “Company,” “we,” “it,” “us,” and “our” in this Annual Report on Form 10 K refer to Quanterix Corporation and its consolidated subsidiaries.
Note Regarding Forward-Looking Statements
This Annual Report on Form 10-K contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties. All statements other than statements of historical facts contained in this Annual Report on Form 10-K are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or the negative of these words or other comparable terminology. These forward-looking statements include, but are not limited to, statements about:
our planned acquisition of Akoya Biosciences, Inc. and associated risks, including that we may not complete the acquisition, that the market price of our common stock may be negatively affected by the acquisition, that our operating results and financial position and, following the completion of the acquisition, the combined company’s business, operating results and financial position, could be adversely affected by uncertainty and disruptions related to the transaction and substantial costs we expect to incur related to the transaction and integration, and that we may fail to realize the anticipated benefits and synergies of the acquisition;
that we may fail to realize the anticipated benefits and synergies of our recent acquisition of Emission, Inc.;
the commercialization and adoption of our existing products and services and the success of our new product and service offerings;
our estimates regarding expenses, future revenues, capital requirements, and our needs for additional financing;
risks related to the restatement of our Consolidated Financial Statements, as previously reported in our amended annual report on Form 10-K/A for the year ended December 31, 2023 and amended quarterly reports on Form 10-Q/A for certain quarterly periods (collectively, the “Amended Filings”), including risks of increased costs and the increased possibility of legal proceedings and regulatory inquiries, sanctions, or investigation;
our ability to maintain effective internal control over financial reporting and disclosure controls and procedures, including our ability to remediate existing material weaknesses in our internal control over financial reporting and the timing of any such remediation, as well as to reestablish effective disclosure controls and procedures at a reasonable assurance level;
the ability of our Simoa technology’s sensitivity to improve existing diagnostics and to enable the development of new diagnostic tests and tools;
the potential of our Simoa technology in the field of screening/diagnostic tests linked to therapeutic drugs and adoption by healthcare professionals;
the impact of our Simoa technology on proteomic research;
our ability to realize the intended benefits of our assay redevelopment program;
our ability to retain and expand our customer base and achieve sufficient market acceptance of our products;
the anticipated timing for launch of, and features of, our next-generation instrument, Simoa ONE;
the ability of our contract manufacturers and suppliers to reliably and consistently manufacture and supply our Simoa instruments;
the usefulness of the data generated by our Simoa technology in the life science research and diagnostics fields;
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the impact of changes in U.S. government policies, including potential impacts of tariffs and on federal research funding;
our ability to successfully penetrate the diagnostics market; and
our future financial performance.
These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including those further described in the section titled “Part I, Item 1A, Risk Factors” and elsewhere in this Annual Report on Form 10-K. Moreover, we operate in a very competitive and rapidly changing environment, and new risks emerge from time to time. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the forward-looking events and circumstances discussed in this Annual Report on Form 10-K may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.
Readers should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance, or events and circumstances reflected in forward-looking statements will be achieved or occur. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this Annual Report on Form 10-K to conform these statements to new information, actual results, or to changes in our expectations, except as required by law.
Readers should read this Annual Report on Form 10-K and any documents referenced herein that we have filed with the Securities and Exchange Commission (“SEC”) as exhibits to this Annual Report on Form 10-K with the understanding that our actual future results, levels of activity, performance, and events and circumstances may be materially different from what we expect.
This Annual Report on Form 10-K includes statistical and other industry, and market data that we obtained from industry publications and research, surveys, and studies conducted by third parties. Industry publications and third-party research, surveys, and studies generally indicate that their information has been obtained from sources believed to be reliable, although they do not guarantee the accuracy or completeness of such information. Such data involves a number of assumptions and limitations and contains projections, and estimates of the future performance of the markets in which we operate and intend to operate that are subject to a high degree of uncertainty. We caution not to give undue weight to such projections, assumptions and estimates.
Service Marks, Trademarks, and Trade Names
“Quanterix,” “Simoa,” “Simoa HD-X,” “Simoa HD-1,” “Simoa ONE,” “SR-X,” “SP-X”, “HD-X”, “LucentAD,” “Lucent Diagnostics,” and our logo are our trademarks. All other service marks, trademarks, and trade names appearing in this Annual Report on Form 10-K are the property of their respective owners. We do not intend our use or display of other companies’ trade names, trademarks, or service marks to imply a relationship with, or endorsement or sponsorship of us, by these other companies.
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