Quanterix Corp

Previous wording

We are a life sciences company transforming healthcare innovation by accelerating biomarker breakthroughs from discovery to diagnostics using our ultra-sensitive translational research and spatial biology instruments, consumables, and services. We continue to invest in pushing a paradigm shift in healthcare from an emphasis on later-stage treatment to a focus on earlier detection, monitoring, prognosis, and, ultimately, prevention. Our combined platforms have achieved significant commercial adoption with an installed base of over 2,500 instruments and scientific validation with citations in more than 6,800 scientific publications in areas of high unmet medical need and research interest such as neurology, oncology, immunology, and inflammation.

Current wording

We are a life sciences company transforming healthcare innovation by accelerating biomarker breakthroughs from discovery to diagnostics using our ultra-sensitive translational research and spatial biology instruments, consumables, and services. We continue to invest in pushing a paradigm shift in healthcare from an emphasis on later-stage treatment to a focus on earlier detection, monitoring, prognosis, and, ultimately, prevention. Our combined platforms have achieved significant commercial adoption with an installed base of over 2,600 instruments and scientific validation with citations in more than 7,100 scientific publications in areas of high unmet medical need and research interest such as neurology, oncology, immunology, and inflammation.

Previous wording

Our proprietary digital "Simoa" detection technology enables customers to reliably detect protein biomarkers at ultra-low concentrations in blood, serum, and other fluids that, in many cases, are undetectable using conventional, analog immunoassay technologies. Multi-plexing biomarker analysis in tissue samples with our spatial biology platforms enables scientists to understand the localized interactions occurring on the cellular level. We believe our combination of technologies will enable scientists to help drive diagnostic innovation in the evolving healthcare landscape with data across the tissue to fluid continuum. Currently, the ability of our Simoa platforms to detect proteins in the femtomolar range is enabling the development of novel therapies and diagnostics and has the potential to identify early-stage disease markers before symptoms appear.

Current wording

Our proprietary digital "SIMOA" detection technology enables customers to reliably detect protein biomarkers at ultra-low concentrations in blood, serum, and other fluids that, in many cases, are undetectable using conventional, analog immunoassay technologies. Multi-plexing biomarker analysis in tissue samples with our spatial biology platforms enables scientists to understand the localized interactions occurring on the cellular level. We believe the combination of our SIMOA and spatial technologies will enable scientists to drive diagnostic innovation in the evolving healthcare landscape with data across the tissue to fluid continuum. Currently, the ability of our SIMOA platforms to detect proteins in the femtomolar range is enabling the development of novel therapies and diagnostics and has the potential to identify early-stage disease markers before symptoms appear.

Previous wording

We have an extensive base of worldwide customers including research laboratories, contract research organizations ("CROs"), academic institutions, and bio-pharmaceutical companies. We sell our instruments, consumables, and services through direct field sales and support organizations in North America and Europe, and through our own sales force and distributors in countries throughout Europe, Asia Pacific, Africa, Latin America, and the Middle East.

Current wording

We have an extensive base of worldwide customers including research laboratories, contract research organizations, academic institutions, and bio-pharmaceutical companies. We sell our instruments, consumables, and services through direct field sales and support organizations in North America and Europe, and through our own sales force and distributors in countries throughout Europe, Asia Pacific, Africa, Latin America, and the Middle East.

Previous wording

Our total revenues were $32.9 million and $69.3 million for the three and six months ended June 30, 2026, respectively, and $24.5 million and $54.8 million for the three and six months ended June 30, 2025, respectively. Since our inception, we have incurred annual net losses, including net losses of $48.9 million and $66.5 million for the three and six months ended June 30, 2026, respectively, and $30.0 million and $50.5 million for the three and six months ended June 30, 2025, respectively.

Current wording

Our total revenues were $35.0 million and $104.3 million for the three and nine months ended September 30, 2026, respectively, and $40.2 million and $95.0 million for the three and nine months ended September 30, 2025, respectively. Since our inception, we have incurred annual net losses, including net losses of $21.6 million and $88.1 million for the three and nine months ended September 30, 2026, respectively, and $33.5 million and $84.0 million for the three and nine months ended September 30, 2025, respectively.

Previous wording

We expect operating losses to continue in the remainder of 2026 as we incur costs related to the following:

Current wording

We expect operating losses to continue into 2027 as we incur costs related to the following:

Previous wording

Following the appointment of our new President and Chief Executive Officer in January 2026, we undertook a comprehensive review of the Company’s commercial and product strategy. Upon completion of the review, we announced in May 2026 and August 2026 several significant changes intended to accelerate revenue growth in our research tools business and to further advance our position in the Alzheimer’s Disease diagnostics market.

Current wording

Following the appointment of our new President and Chief Executive Officer in January 2026, we undertook a comprehensive review of the Company’s commercial and product strategy. Upon completion of the review, in May 2026 and August 2026 we announced several significant changes intended to accelerate revenue growth in our research tools business and to further advance our position in the Alzheimer’s disease diagnostics market.

Previous wording

To improve our commercial effectiveness, we have hired a new Chief Commercial Officer who has extensive life sciences and diagnostics business experience. Under this new leadership, we are reorganizing our commercial organization to product-based selling, adding additional experienced sales leadership within our Accelerator business, improving lead generation efforts, and investing in marketing spend. These investments are intended to strengthen sales execution and competitive positioning and to deepen our pharmaceutical partnerships.

Current wording

To improve our commercial effectiveness, we hired a new Chief Commercial Officer who has extensive life sciences and diagnostics business experience. Under this new leadership, we reorganized our commercial organization to product-based selling, added experienced sales leadership within our Accelerator business, and are continuing to improve lead conversion efforts. These investments are intended to strengthen sales execution and competitive positioning and deepen our pharmaceutical partnerships. We also increased our strategic focus on Alzheimer’s diagnostics by hiring an experienced Senior Vice President, General Manager Diagnostics to oversee our diagnostics business.

Previous wording

By focusing our efforts on these initiatives, we believe we can positively impact our revenues starting in the second half of 2026 and more materially in 2027. We further believe these changes, supported by sustained investment in our SP-X, SR-X, and spatial biology platforms, will enable us to defend and extend our leadership in the early-stage research and translational markets, which remain foundational to the organization.

Current wording

We believe these initiatives began to positively impact our revenues in the third quarter of 2026 and we expect this trend to increase into 2027. We further believe these changes, supported by sustained investment in our SIMOA blood-based and spatial biology tissue-based platforms, will enable us to defend and extend our leadership in the early-stage research and translational markets, which remain foundational to the organization.

Previous wording

LucentAD Complete is our multi-biomarker LDT used in assessing Alzheimer’s disease pathology. In November 2025, the Centers for Medicare & Medicaid Services approved a reimbursement rate of $897 for our LucentAD Complete test.

Current wording

LucentAD Complete is our multi-biomarker LDT used in assessing Alzheimer’s disease pathology.

Previous wording

Beginning July 1, 2026, members covered under Anthem Blue Cross and Blue Shield medical policies can receive coverage for qualifying blood-based biomarker testing, including LucentAD Complete, when medical necessity criteria are met.

Current wording

Beginning July 1, 2026, members covered under Anthem Blue Cross and Blue Shield medical policies can receive coverage for qualifying blood-based biomarker testing, including LucentAD Complete, when medical necessity criteria are met. On November 1, 2026, the Florida Agency for Health Care Administration published its Medicaid laboratory fee schedule with pricing for LucentAD Complete, which can provide coverage of our test for traditional Medicaid members and state employees in Florida.

Previous wording

During the second quarter of 2026, we completed multiple clinical utility and implementation studies evaluating LucentAD Complete across the Alzheimer's disease diagnostic pathway, including primary care and specialty neurology settings. Results from these studies were presented at the Alzheimer's Association International Conference and are being prepared for peer-reviewed publication.

Current wording

Additionally, during 2026, multiple clinical utility and implementation studies evaluating LucentAD Complete across the Alzheimer's disease diagnostic pathway were completed, including primary care and specialty neurology settings. Results from these studies were presented at the Alzheimer's Association International Conference and are being prepared for peer-reviewed publication.

Previous wording

We believe these clinical and reimbursement milestones support broader adoption of LucentAD Complete and may facilitate additional commercial and government payer coverage over time.

Current wording

We believe these reimbursement and clinical milestones support broader adoption of LucentAD Complete and facilitate additional clinical adoption and commercial and government payer coverage over time.

Previous wording

Due to declines in our revenue during the second quarter of 2026, we concluded that it was more likely than not that the fair value our single reporting unit was less than its carrying amount. As a result, we performed a quantitative impairment test as of June 30, 2026 and determined the carrying value of our reporting unit exceeded its fair value. As a result, we recorded a goodwill impairment charge of $26.9 million during the three months ended June 30, 2026.

Current wording

Due to declines in our revenue during the second quarter of 2026, we concluded that it was more likely than not that the fair value of our single reporting unit was less than its carrying amount. As a result, we performed a quantitative impairment test as of June 30, 2026 and recorded a goodwill impairment charge of $26.9 million.

Previous wording

As part of the acquisition of Akoya, we assumed a diagnostics development agreement (the "Development Agreement") with a biopharmaceutical customer. On February 25, 2026, the Development Agreement was terminated by mutual agreement of the parties. As a result of the termination, during the three months ended March 31, 2026, we recorded an impairment charge of $19.3 million for the related in-process research and development intangible asset. Additionally, we recognized one-time income which included $14.0 million of non-cash income from the contract's related off-market liability and $7.9 million of deferred revenue. These amounts were recorded in other income, net on our Consolidated Statements of Operations, as the termination of an acquired, off-market contract is unusual and infrequent in nature.

Current wording

As part of the acquisition of Akoya, we assumed a diagnostics development agreement (the "Development Agreement") with a biopharmaceutical customer. On February 25, 2026, the Development Agreement was terminated by mutual agreement of the parties. As a result of the termination, during the three months ended March 31, 2026, we recorded an impairment charge of $19.3 million for the related in-process research and development ("IPR&D") intangible asset. Additionally, we recognized one-time income which included $14.0 million of non-cash income from the contract's related off-market liability and $7.9 million of deferred revenue. These amounts were recorded in other income, net on our Consolidated Statements of Operations, as the termination of an acquired, off-market contract is unusual and infrequent in nature.

Previous wording

The accompanying Consolidated Statements of Operations and this Management's Discussion and Analysis of Financial Condition and Results of Operations reflect the effect of the change in accounting principle, which includes a reclassification of $1.3 million and $2.9 million from selling, general and administrative to cost of product revenue during the three and six months ended June 30, 2025, respectively. The change in accounting principle had no impact on revenues, loss from operations, net loss, or net loss per share and did not affect the Consolidated Balance Sheets, Consolidated Statements of Comprehensive Loss, Consolidated Statements of Cash Flows, or Consolidated Statements of Stockholders’ Equity.

Current wording

The accompanying Consolidated Statements of Operations and this Management's Discussion and Analysis of Financial Condition and Results of Operations reflect the effect of the change in accounting principle, which includes a reclassification of $1.3 million and $4.2 million from selling, general and administrative to cost of product revenue during the three and nine months ended September 30, 2025, respectively. The change in accounting principle had no impact on revenues, loss from operations, net loss, or net loss per share and did not affect the Consolidated Balance Sheets, Consolidated Statements of Comprehensive Loss, Consolidated Statements of Cash Flows, or Consolidated Statements of Stockholders’ Equity.

Previous wording

Service and other revenue increased $1.9 million, or 27%, to $9.0 million, for the three months ended June 30, 2026, compared to $7.1 million for the three months ended June 30, 2025. The increase was due to the acquisition of Akoya, which added $3.0 million of service and other revenue. For the legacy Quanterix business, service and other revenue decreased $1.0 million primarily due to lower volumes of sample testing and assay development services in our Accelerator Laboratory driven by reduced pipeline development. While we continue to see strong opportunities in the market, the uncertain macro-economic environment is expected to continue to drive fluctuations in Accelerator Laboratory revenue during the remainder of 2026.

Current wording

Service and other revenue decreased $4.7 million, or 33%, to $9.4 million, for the three months ended September 30, 2026, compared to $14.0 million for the three months ended September 30, 2025. This decrease was primarily due to lower volumes of sample testing and assay development services in our Accelerator Laboratory driven by reduced pipeline development. We continue to see strong opportunities in the market and believe the strategic changes we made to our commercial organization will drive an increase in Accelerator Laboratory revenue into 2027.

Previous wording

Cost of service and other revenue increased $1.7 million, or 45%, to $5.6 million for thethree months ended June 30, 2026, compared to$3.9 millionfor thethree months ended June 30, 2025. This increase was primarilydue to the acquisition of Akoya, which added $1.2 million to cost of service and other revenue.

Current wording

Cost of service and other revenue decreased $1.6 million, or 21%, to $6.0 million for thethree months ended September 30, 2026, compared to$7.6 millionfor thethree months ended September 30, 2025. This decrease was primarilydue to lower headcount and related compensation and benefit costs from the 2025 restructurings and an overall decline in service revenue.

Previous wording

We recorded an impairment charge of $26.9 million during the three months ended June 30, 2026 related to impairment of the remaining goodwill from the acquisition of Akoya. During the three months ended June 30, 2025, we recorded impairment and restructuring costs of $7.7 million relating to a goodwill impairment charge and severance and related benefit expenses from the May 2025 restructuring plan.

Current wording

Impairment and restructuring costs decreased $7.0 million, or 98%, to $0.2 million for the three months ended September 30, 2026. During the three months ended September 30, 2025, we recorded impairment and restructuring costs of $7.2 million relating to severance and related benefit expenses from the 2025 restructuring and impairment of a leased facility acquired in the Akoya acquisition that we are not using. No such costs were recorded in the three months ended September 30, 2026.

Previous wording

Interest income decreased $1.9 million, or 72%, to $0.8 million during the three months ended June 30, 2026, compared to $2.7 million for the three months ended June 30, 2025. The decrease was primarily due to lower interest rates and a lower balance of cash, cash equivalents, and marketable securities.

Current wording

Interest income decreased $0.8 million, or 54%, to $0.7 million during the three months ended September 30, 2026, compared to $1.4 million for the three months ended September 30, 2025. The decrease was due to a lower balance of cash, cash equivalents, and marketable securities.

Previous wording

The change in fair value of contingent liabilities was a loss of $0.1 million for the three months ended June 30, 2026 as compared to income of $4.3 million for the three months ended June 30, 2025. The change was driven by the achievement of certain performance targets and updates to the valuation inputs. The contingent arrangements relate to the acquisition of Emission and the assumption of Akoya's contingent liability from its acquisition of the Quantitative Pathology Solutions division of PerkinElmer, Inc. in 2018.

Current wording

The change in fair value of contingent liabilities was income of $0.6 million for the three months ended September 30, 2026 as compared to income of $0.1 million for the three months ended September 30, 2025. The change was driven by the updates to the valuation inputs. The contingent arrangements relate to the acquisition of Emission and the assumption of Akoya's contingent liability from its acquisition of the Quantitative Pathology Solutions division of PerkinElmer, Inc. in 2018.

Previous wording

Comparison of Results of Operations for the Six Months Ended June 30, 2026 and 2025:

Current wording

Comparison of Results of Operations for the Nine Months Ended September 30, 2026 and 2025:

Previous wording

Selling, general and administrative expense decreased $3.0 million, or 10%, to $27.4 million for the three months ended June 30, 2026, compared to $30.4 million for the three months ended June 30, 2025.

Current wording

Total revenues increased $9.3 million, or 10%, to $104.3 million for the nine months ended September 30, 2026, compared to $95.0 million for the nine months ended September 30, 2025.

Previous wording

Service and other revenue increased $3.5 million, or 22%, to $19.4 million, for the six months ended June 30, 2026, compared to $15.9 million for the six months ended June 30, 2025. The increase was due to the acquisition of Akoya, which added $6.7 million of service and other revenue. For the legacy Quanterix business, service and other revenue decreased $3.2 million primarily due to lower volumes of sample testing and assay development services in our Accelerator Laboratory driven by reduced pipeline development.

Current wording

Service and other revenue decreased $1.2 million, or 4%, to $28.8 million, for the nine months ended September 30, 2026, compared to $30.0 million for the nine months ended September 30, 2025. The decrease was due to lower volumes of sample testing and assay development services in our Accelerator Laboratory driven by reduced pipeline development. These decreases were partially offset by the acquisition of Akoya in the third quarter of 2025, which added $6.7 million of service and other revenue in the first half of 2026.

Previous wording

Total cost of goods sold and services increased $5.8 million, or 40%, to$20.2 million for thethree months ended June 30, 2026, compared to$14.5 million for thethree months ended June 30, 2025.

Current wording

Total cost of goods sold and services increased $8.3 million, or 15%, to$62.6 million for thenine months ended September 30, 2026, compared to$54.3 million for thenine months ended September 30, 2025.

Previous wording

Cost of service and other revenue increased $3.3 million, or 41%, to$11.3 million for thesix months ended June 30, 2026, compared to$8.0 million for thesix months ended June 30, 2025. This increase was primarily due to the acquisition of Akoya, which added $2.3 million to cost of service and other revenue.

Current wording

Cost of service and other revenue increased $1.7 million, or 11%, to$17.3 million for thenine months ended September 30, 2026, compared to$15.7 million for thenine months ended September 30, 2025. This increase was primarily due to the acquisition of Akoya in the third quarter of 2025, which added $2.3 million to to cost of service and other revenue in the first half of 2026 and was partially offset by an overall decline in service revenue.

Previous wording

The decrease was primarily due to the legacy Quanterix business resulting from (1) a $7.2 million decrease in due diligence and other acquisition costs related to the acquisitions of Akoya and Emission in 2025, (2) a $3.9 million decrease from a non-recurring contingent payment arrangement in 2025 associated with the acquisition of Emission, (3) a $2.8 million decrease in headcount and related compensation and benefit costs from the May 2025 restructuring plan, and (4) a $1.9 million decrease in consulting and professional services fees. These decreases were partially offset by the selling, general and administrative expenses added from the acquisition of Akoya.

Current wording

Selling, general and administrative expense decreased $14.0 million, or 14%, to $85.6 million for the nine months ended September 30, 2026, compared to $99.6 million for the nine months ended September 30, 2025. The decrease was primarily due to non-recurring due diligence and other acquisition costs related to the acquisitions of Emission and Akoya in 2025, a non-recurring contingent payment arrangement in 2025 associated with the acquisition of Emission, and a decrease in facilities expenses. These decreases were partially offset by increases in headcount and related compensation and benefits costs due to the strategic changes discussed in the section titled "Business Strategy Updates" and professional services and technology integration costs.

Previous wording

We recorded impairment and restructuring costs of $46.8 million during the six months ended June 30, 2026 primarily related to impairments of the remaining goodwill from the acquisition of Akoya and an in process research and development intangible asset. During the six months ended June 30, 2025, we recorded impairment and restructuring costs of $7.7 million relating to a goodwill impairment charge and severance and related benefit expenses from the May 2025 restructuring plan.

Current wording

During the nine months ended September 30, 2026, we recorded impairment and restructuring costs of $46.9 million primarily related to impairments of the remaining goodwill from the acquisition of Akoya and an IPR&D intangible asset. During the nine months ended September 30, 2025, we recorded $14.8 million of impairment and restructuring costs related to impairment of the remaining goodwill from the acquisition of Emission, impairment of a leased facility acquired in the Akoya acquisition that we no longer used, and severance and related benefit expenses from the 2025 restructurings.

Previous wording

Interest income decreased $4.3 million, or 72%, to $1.7 million for the six months ended June 30, 2026, compared to $6.0 million for the six months ended June 30, 2025. The decrease in fair value was primarily due to lower interest rates and a lower balance of cash, cash equivalents, and marketable securities.

Current wording

Interest income decreased $5.1 million, or 69%, to $2.3 million for the nine months ended September 30, 2026, compared to $7.4 million for the nine months ended September 30, 2025. The decrease in fair value was primarily due to a lower balance of cash, cash equivalents, and marketable securities.

Previous wording

The change in fair value of contingent liabilities was income of $1.4 million for the six months ended June 30, 2026, compared to income of $3.9 million for the six months ended June 30, 2025. The change was driven by the achievement of certain performance targets and updates to the valuation inputs. The contingent arrangements relate to the Emission acquisition that closed in the first quarter of 2025 and the assumption of Akoya's contingent liability from its acquisition of the Quantitative Pathology Solutions division of PerkinElmer, Inc in 2018.

Current wording

The change in fair value of contingent liabilities was income of $2.0 million for the nine months ended September 30, 2026, compared to income of $4.0 million for the nine months ended September 30, 2025. The change was driven by updates to the valuation inputs.

Previous wording

Other income (expense), net increased $21.1 million for the six months ended June 30, 2026. As a result of the termination of the Development Agreement in the first quarter of 2026, we recognized $14.0 million of non-cash income from the contract's off-market liability and $7.9 million of deferred revenue. This termination of an acquired, off-market contract is unusual and infrequent in nature.

Current wording

Other income (expense), net increased $21.2 million for the nine months ended September 30, 2026. As a result of the termination of the Development Agreement in the first quarter of 2026, we recognized $14.0 million of non-cash income from the contract's off-market liability and $7.9 million of deferred revenue. This termination of an acquired, off-market contract is unusual and infrequent in nature.

Previous wording

Income tax benefit decreased $2.9 million, or 98%, to $0.1 million for the six months ended June 30, 2026, compared to $3.0 million for the six months ended June 30, 2025. The change was primarily due to the release of a portion of our valuation allowance on deferred tax assets due to temporary tax differences related to the acquisition of Emission.

Current wording

Income tax expense was $0.2 million for the nine months ended September 30, 2026, compared to an income tax benefit of $5.5 million for the nine months ended September 30, 2025. The change was primarily due to the release of a portion of our valuation allowance on deferred tax assets in 2025 due to temporary tax differences related to the acquisitions of Akoya and Emission.

Previous wording

Ourprincipal sources of liquidity are cash, cash equivalents, marketable securities, and funds generated from sales of our products and services. As of June 30, 2026, we had $44.2 million of cash and cash equivalents and $49.4 million of marketable securities. Historically we have also financed our operations through equity offerings and borrowings from credit facilities. Our liquidity requirements have consisted, and we expect that they will continue to consist, of sales and marketing expenses, research and development expenses, working capital, general corporate expenses, and contingent payments related to our prior acquisition activity.

Current wording

Ourprincipal sources of liquidity are cash, cash equivalents, marketable securities, and funds generated from sales of our products and services. As of September 30, 2026, we had $35.9 million of cash and cash equivalents and $41.5 million of marketable securities. Historically we have also financed our operations through equity offerings and borrowings from credit facilities. Our liquidity requirements have consisted, and we expect that they will continue to consist, of sales and marketing expenses, research and development expenses, working capital, general corporate expenses, and contingent payments related to our prior acquisition activity.

Previous wording

Our future capital requirements will depend on many factors, including, but not limited to, our pace of growth, enhancements to or introductions of new instruments, assays, and services, including Lucent Diagnostics, and advancing access to our diagnostic tests, market acceptance of our products and services, regulatory requirements, regulatory approval of our products or services, and the effects of competition, technological developments, and broader market and economic trends.

Current wording

Our future capital requirements will depend on many factors, including, but not limited to, our pace of growth, enhancements to or introductions of new instruments, assays, and services, including Lucent Diagnostics, advancing access to our diagnostic tests, market acceptance of our products and services, regulatory requirements, regulatory approval of our products or services, and the effects of competition, technological developments, and broader market and economic trends.

Previous wording

Net cash used in operating activities was $23.2 million and $19.5 million for the six months ended June 30, 2026 and 2025, respectively. The $3.7 million increase in net cash used in operations was primarily due to an increase in net loss and adjustments for non-cash items, including $46.8 million of impairment charges for goodwill and an in-process research and development intangible asset, partially offset by the recognition of $14.0 million of non-cash income related to the termination of the Development Agreement. The overall change in net cash used in operations was also driven by a $25.3 million change in working capital items, primarily a $15.6 million decrease in accounts payable and accrued compensation and benefits and the recognition of $7.9 million of deferred revenue associated with the termination of the Development Agreement.

Current wording

Net cash used in operating activities was $39.4 million and $60.8 million for the nine months ended September 30, 2026 and 2025, respectively. The $21.4 million increase in net cash used in operations was primarily due to an increase in net loss and adjustments for non-cash items, including a $39.5 million increase of impairment charges for goodwill and an IPR&D intangible asset, partially offset by the one-time recognition of $14.0 million of non-cash income related to the termination of the Development Agreement, and an increase in depreciation and amortization expense primarily related to the intangible assets acquired in the acquisition of Akoya. The overall change in net cash used in operations was also driven by changes in working capital items, primarily the recognition of $7.9 million of deferred revenue associated with the termination of the Development Agreement and an increase in accounts receivable from both the acquisition of Akoya and stronger demand at the end of the third quarter of 2026.

Previous wording

Net cash provided by investing activities was $38.9 million during the six months ended June 30, 2026, which consisted primarily of $47.4 million of proceeds from sales and maturities of marketable securities offset by $8.2 million of purchases of marketable securities.

Current wording

Net cash provided by investing activities was $46.8 million during the nine months ended September 30, 2026, which consisted primarily of $63.8 million of proceeds from sales and maturities of marketable securities and $16.7 million of purchases of marketable securities.

Previous wording

Net cash provided by investing activities was $94.6 million during the six months ended June 30, 2025, which consisted of $135.9 million of proceeds from sales and maturities of marketable securities, $9.0 million of cash paid for the acquisition of Emission, $30.2 million for the purchase of marketable securities, and $2.0 million of purchases of property and equipment.

Current wording

Net cash provided by investing activities was $41.8 million during the nine months ended September 30, 2025, which consisted of $183.4 million of proceeds from sales and maturities of marketable securities, $93.2 million of cash paid for the acquisition of Emission, $45.7 million for the purchase of marketable securities, and $2.7 million of purchases of property and equipment.

Previous wording

Net cash used in financing activities was $1.3 million during the six months ended June 30, 2026, compared $0.3 million during the six months ended June 30, 2025. The cash used in 2026 was primarily related to payments made for the holdback liability from the acquisition of Emission and achievement of certain performance targets on contingent payment arrangements from our acquisitions.

Current wording

Net cash used in financing activities was $1.2 million during the nine months ended September 30, 2026, compared to $0.2 million during the nine months ended September 30, 2025. The cash used in 2026 was primarily related to payments made for the holdback liability from the acquisition of Emission and achievement of certain performance targets on contingent payment arrangements from our acquisitions.