NEW YORK – Life science tools companies Quanterix, Pacific Biosciences, and Illumina reported preliminary earnings results for 2024 on Tuesday.
Quanterix reported that its preliminary Q4 2024 revenues rose 11 percent year over year.
The Billerica, Massachusetts-based company said it expects revenue of roughly $34.9 million for the three months ended Dec. 31, up from $31.5 million in Q4 2023 and above the consensus Wall Street estimate of $34.4 million.
Quanterix projected Q4 2024 instrument revenue of approximately $3.1 million, a 6 percent year-over-year decline; consumables revenue of $17.4 million, flat year over year; accelerator revenue of $8.6 million, a 22 percent rise year over year; and other revenue of $5.8 million, representing a 57 percent increase year over year.
“Despite a difficult capital spending environment, Quanterix has shown operational resiliency, and we expect to continue to build on this performance as we enter 2025 from a position of strength," President and CEO Masoud Toloue said in a statement accompanying release of the preliminary results.
For full-year 2024, Quanterix reported preliminary revenues of approximately $137.2 million, up 12 percent from $122.4 million in 2023 and above the consensus Wall Street estimate of $136.4 million.
Preliminary full-year 2024 instrument revenue was approximately $10.5 million, down 33 percent from full-year 2023. Consumables revenue was $69.3 million, up 8 percent year over year. Accelerator revenue was $38.0 million, up 36 percent year over year. Other revenue was $19.4 million, up 30 percent year over year.
Quanterix ended 2024 with cash, cash equivalents, marketable securities, and restricted cash of approximately $292 million.
Pacific Biosciences reported preliminary Q4 2024 revenues of roughly $39.2 million, down 33 percent from $58.4 million in Q4 2023 and below the consensus Wall Street estimate of $40.6 million.
The company projected Q4 2024 instrument revenue of roughly $15.3 million, down 56 percent from $35.1 million in Q4 2023. Instrument sales during the quarter included 23 Revio and seven Vega sequencing systems.
Consumables revenue for Q4 2024 was $18.8 million, down less than 1 percent from $18.9 million in the year-ago period. Revio annualized pull-through in Q4 is expected to be roughly $240,000, the company said.
Service and other revenue for Q4 was roughly $5.1 million, up 16 percent from $4.4 million in Q4 2023.
For full-year 2024, PacBio reported preliminary revenues of $154.0 million, down 23 percent from $200.5 million in 2023 and below the consensus Wall Street estimate of $155.4 million.
"Though challenging, 2024 was a productive year for PacBio as we launched groundbreaking products, strengthened our balance sheet, and made significant progress in reducing cash burn," PacBio President and CEO Christian Henry said in a statement accompanying release of the results. "I believe PacBio is on track to gain market share in 2025 and further enhance our financial position. The early feedback on the Vega system and Sprq chemistry has been encouraging, and our expansion into the clinical market is beginning to take shape."
PacBio said it expects its unrestricted cash, cash equivalents, and investments as of the end of 2024 to total $390 million.
Illumina reported preliminary Q4 2024 revenues of roughly $1.10 billion, up 1 percent from Q4 2023 and above the consensus Wall Street estimate of $1.07 billion.
Preliminary Q4 2024 non-GAAP diluted EPS was projected to be between $.91 and $.93, in line with Wall Street's estimate of $.92.
For full-year 2024, Illumina reported preliminary revenues of $4.33 billion, down 2 percent from 2023 but above the Wall Street estimate of $4.32 billion.
Preliminary full-year 2024 non-GAAP diluted EPS was projected to be between $4.12 and $4.14, in line with Wall Street's estimate of $4.12.
Illumina said that for 2025 it expects constant currency revenue growth in the low single digits with reported revenue in the range of $4.28 billion to $4.40 billion, below the consensus Wall Street estimate of $4.48 billion. It expects non-GAAP diluted EPS growth of roughly 10 percent.