Quanterix (QTRX) opened Q1 2026 with revenue of US$36.4 million and a basic EPS loss of US$0.37, alongside trailing twelve month revenue of US$145.0 million and a TTM basic EPS loss of US$2.33 that keeps the story firmly in loss making territory. Over recent quarters the company has seen revenue move between US$24.5 million and US$43.9 million while basic EPS losses have ranged from US$0.30 to US$0.77 per share. This sets a clear backdrop of growing sales paired with persistent negative earnings. For investors, the key question now is whether the current pace of revenue growth can eventually support healthier margins and narrow those losses.

See our full analysis for Quanterix.

With the latest results on the table, the next step is to see how these numbers line up with the widely held narratives around Quanterix's growth potential, risk profile, and path to better margins.

US$104.2 million TTM loss keeps margins deep in the red

• On a trailing twelve month basis, Quanterix reported US$144.9 million in revenue against a net loss of US$104.2 million, which means the business is still carrying a very heavy loss relative to its sales base.
• Critics highlight that losses have risen at about 8.6% per year over the past five years and are forecast to continue, and the current TTM basic EPS loss of US$2.33 alongside recurring quarterly net losses between US$11.6 million and US$33.5 million supports the bearish view that profitability is not yet in sight.
  • The most recent five quarters show net losses of US$17.5 million to US$33.5 million per quarter, which lines up with concerns about a sustained loss profile rather than a one off setback.
  • Forecasts that the company is expected to remain unprofitable for at least the next three years fit with this track record and explain why bears focus so much on the earnings side of the story.

Bears warn that the latest US$104.2 million TTM loss could matter more than revenue growth for long term shareholders, and they point readers to how that feeds into the broader cautious narrative about Quanterix 🐻 Quanterix Bear Case.

Revenue near US$145 million TTM but EPS losses stay wide

• Trailing twelve month revenue moved to US$144.9 million by Q1 2026 while TTM basic EPS sat at a loss of US$2.33, so sales scale has not yet translated into earnings per share relief.
• Supporters often focus on revenue that is described as growing about 12% per year, and that growth alongside quarterly revenue ranging from US$24.5 million to US$43.9 million does back the bullish idea that the platform is gaining commercial traction, even if the current EPS loss shows that growth has not yet flowed through to profitability.
  • The sequence of quarterly revenues from US$24.5 million up to US$43.9 million and then US$36.4 million illustrates that the top line can reach higher levels than today, which bullish investors see as helpful for long term scaling arguments.
  • At the same time, the TTM EPS loss of US$2.33 compared with earlier TTM losses such as US$1.00 and US$1.24 per share shows that earnings have not tightened alongside that revenue base, which is the main pushback to the optimistic case.

Bulls argue that a roughly 12% revenue growth profile changes the story once costs catch up, and they often connect that view to a longer term thesis about Quanterix 🐂 Quanterix Bull Case.

P/S of 0.9x versus peers at 3.3x

• The stock trades on a P/S ratio of 0.9x compared with roughly 3.3x for peers and 3.4x for the broader US Life Sciences industry, so the valuation multiple on sales is much lower than the group despite trailing revenue of US$144.9 million.
• What stands out is that investors weighing the bearish points around continued losses and recent shareholder dilution have priced the stock well below peer P/S levels, yet the revenue growth forecast of about 12% per year creates a tension between valuation support on sales and the lack of a near term profitability path.
  • The combination of US$104.2 million in TTM net losses and a 0.9x P/S ratio suggests the market is giving some credit for revenue but still heavily discounts the equity relative to industry averages.
  • Because shareholders have already experienced dilution over the past year, some readers may focus on whether any future capital raising at this compressed multiple could further weigh on per share economics.

Next Steps

Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on Quanterix's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move.

With mixed signals on growth, losses and valuation, this may be a useful time to review the underlying numbers yourself, decide where you stand, and then weigh up the company's potential using 2 key rewards and 2 important warning signs.

See What Else Is Out There

Quanterix is still carrying heavy losses, wide EPS deficits and a compressed P/S multiple, which together point to elevated risk for cautious shareholders.

If you want ideas that put more emphasis on capital preservation, check out 72 resilient stocks with low risk scores to focus on companies with more resilient profiles.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.