UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 10, 2018
QUANTERIX CORPORATION
(Exact name of registrant as specified in its charter)
Delaware |
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001-38319 |
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20-8957988 |
(State or other jurisdiction |
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(Commission File Number) |
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(IRS Employer |
113 Hartwell Avenue |
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02421 |
(Address of principal executive offices) |
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(zip code) |
Registrants telephone number, including area code: (617) 301-9400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging Growth Company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition.
On January 10, 2018, Kevin Hrusovsky, President, Chief Executive Officer and Chairman of Quanterix Corporation (the Company) disclosed certain preliminary, unaudited estimated financial information for the year ended December 31, 2017 (the Estimated Information) during the Companys presentation at the 36th Annual J.P. Morgan Healthcare Conference (the Conference), including preliminary, unaudited estimated revenue for the year ended December 31, 2017 of between $22.5 million and $22.9 million. A copy of the slides containing the Estimated Information presented at the Conference is furnished as Exhibit 99.1 and is incorporated herein by reference.
The Estimated Information is unaudited and preliminary, and does not present all information necessary for an understanding of the Companys financial condition as of December 31, 2017 and its results of operations for the three months and year ended December 31, 2017. The audit of the Companys financial statements for the year ended December 31, 2017 is ongoing and could result in changes to such Estimated Information.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
99.1 |
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The information in this report and Exhibit 99.1 to this report is furnished pursuant to Item 2.02 and shall not be deemed filed for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, if such subsequent filing specifically references the information furnished pursuant to Item 2.02 of this report.
Forward-Looking Statements
This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as may, will, expect, plan, anticipate, estimate, intend and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this report include the preliminary, unaudited estimated financial information for the year ended December 31, 2017 as well as the 2018 Milestones set forth on Exhibit 99.1. Each of these forward-looking statements involves risks and uncertainties. Factors that may cause actual results to differ from those expressed or implied in the forward-looking statements are discussed in our filings with the U.S. Securities and Exchange Commission, including the Risk Factors sections contained therein. Except as required by law, the Company assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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QUANTERIX CORPORATION | |
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By: |
/s/ Joseph Driscoll |
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Joseph Driscoll |
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Chief Financial Officer |
Date: January 11, 2018
Rapid Growth with Compelling Consumable Pull-through Three-year Growth ($ in millions) Grew from 0 instruments Jan14 (cumulative) 2018 Milestones Q1: Launch SR-X benchtop Q4: Launch HD-X: Trade in Expand menu by 30+ assays Multiplexing, cost and sensitivity Globalize and enter Pharma Services CLIA certification and LDT licensing Explore Point-of-Care relationships Blood screening license Top Dx Co Bolster Ab engineering capability 176 $12.2 $17.6 CAGR 36 % - 37% Revenue $22.5-$22.9 = Consumables Q4 represents a preliminary, unaudited est. of financial information. We have not finalized the audit of our results of operations for the 3 months and year ended 12/31/17, which may identify items requiring adjustment to these unaudited financial results. 72 121 53 98 185 58 126 180 2015 2016 2017 est. Instruments Publications Markers
Cash $80M ($9M debt) - Sufficient to crossover 65%+ GM at scale: C 75%+, I 55%, S 65% M&A can accelerate pace to scale Head count today 125, projected at 150 at 18 year end 55 Commercial, 35 R&D/Eng, 25 Mfg / Operations Business Profile Product Revenue Allocation (2017 estimate) CAGR 75% Accelerator Revenue (millions) Q4 represents a preliminary, unaudited est. of financial information. We have not finalized the audit of our results of operations for the 3 months and year ended 12/31/17, which may identify items requiring adjustment to these unaudited financial results. Promotion cost center to 65% g.m. growth catalyst business Mood Study, pharma utilization, drug trials pipeline CLIA certification for pharma services enables LDT entry $1.6 $3.1 $4.9 2015 2016 2017E
Neurology Customers Cumulative Cumulative Cumulative Cumulative Cumulative Note: 2017 figures are estimates Q4 represents a preliminary, unaudited est. of financial information. We have not finalized the audit of our results of operations for the 3 months and year ended 12/31/17, which may identify items requiring adjustment to these unaudited financial results. 1.9 2.8 4.3 2015 2016 2017E Instrument Sales ($) 1.6 1.9 4.8 2015 2016 2017E Consumables Sales ($) 0.3 1.1 2.5 2015 2016 2017E Accelerator Sales ($K) 17 35 48 2015 2016 2017E Number of Instruments (units) 3 6 22 2015 2016 2017E Consumable Markers Added 17 75 158 2015 2016 2017E Accelerator Projects 14 41 85 2015 2016 2017E Number of 3rd Party Pubs 1 3 8 2015 2016 2017E Neuro Projects in Trials