Quanterix reported fourth-quarter 2025 revenue of $43.9 million, up 25% year-over-year and 7% sequentially. Instrument revenue totaled $6.1 million, driven by placements of 21 Simoa and 17 Spatial instruments; organic revenue declined 22% while diagnostics partner sales delivered $3.1 million.

Spatial Biology revenue reached $17.0 million, down 23% year-over-year and down 16% excluding a terminated $2.5 million development agreement. Academia accounted for about 55% of Q4 sales with a pro forma 24% decline, pharma revenue fell 21%, and diagnostics partnerships grew to 25, generating $9.6 million in 2025.

Quanterix secured a Centers for Medicare & Medicaid Services reimbursement rate of $897 for LucentAD Complete, its Alzheimer’s blood test. The company submitted a 510(k) pre-market notification in January 2026, expects FDA approval by Q4 2026, and is conducting multiple clinical utility studies to support payer discussions.

The company has achieved $74 million of its $85 million cost synergy target, reducing non-GAAP operating expenses to $30 million. Quanterix ended Q4 with $122 million in cash and no debt, improved adjusted EBITDA sequentially, and guides 2026 revenue of $169 million to $174 million while aiming for break-even profitability.