QTRX · CIK 0001503274
What Quanterix Corp. told the SEC could break it.
Quanterix's disclosures center on profitability, reimbursement, and a single-source supply chain for its biomarker-detection business. It has lost money every year since formation, with a $107.2 million net loss in 2025 (up sharply, reflecting its Akoya acquisition), and may not reach or sustain profitability. Commercializing its LucentAD Complete Alzheimer's blood test depends on CMS and private-payer reimbursement — CMS set an $897 rate, but future coverage decisions are hard to predict and could limit adoption. Each of its instrument lines is built by a single contract manufacturer, and many consumables, reagents, and Simoa disks come from single-source suppliers that would take significant time to replace.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Liquidity & debt
- recurring net losses ($107.2M in 2025)medium
Quanterix has incurred annual losses since formation, including a $107.2M net loss in 2025 (up from $38.5M and $28.4M, reflecting the Akoya acquisition), and may not achieve or sustain profitability, leaving it dependent on its cash position and markets.
“Quanterix incurred net losses of $107.2 million, $38.5 million, and $28.4 millio”
SEC filing →As of 2026
Regulatory & policy
- CMS/payer reimbursement for LucentAD diagnosticmedium
Commercialization of Quanterix's LucentAD Complete Alzheimer's blood test depends on CMS and private-payer reimbursement; CMS set an $897 rate but future coverage/reimbursement decisions are hard to predict and could constrain adoption.
“CMS recently approved a reimbursement rate of $897 for the LucentAD Complete multiplex test; however, it can be difficult to predict what CMS will decide with respect to reimbursement in any par”
SEC filing →As of 2026
Supplier concentration
- single-source contract manufacturers & componentsmedium
Each Quanterix instrument line is made by a single contract manufacturer (STRATEC for Simoa HD-X, Paramit for SR-X, Columbia Tech for PhenoCycler/PhenoImager), and many consumable materials, reagents and Simoa disks come from single-source suppliers — qualifying replacements would take significant time.
“We rely on a limited number of suppliers or, in some cases, one supplier, for some of our materials and components used in our consumable products and certain of our instruments, and we may not be able to find replacements or immediately transition to alternative suppliers if any of these suppliers fai”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its suppliers
STRATEC Biomedical AG / STRATEC SE
“We currently rely on a single contract manufacturer, STRATEC Biomedical AG (“STRATEC”), an analytical and diagnostic systems manufacturer located in Germany, to manufacture and supply our Simoa HD-X instruments.”
Cited →Columbia Tech
“Additionally, we rely on a third third single contract manufacturer, Columbia Tech, to manufacture our PhenoCycler and PhenoImager instruments.”
Cited →Paramit Corporation
“We currently rely on a second single contract manufacturer, Paramit Corporation (“Paramit”), a contract manufacturer located in California, to manufacture and supply all of our SR-X instruments.”
Cited →
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