Quanterix Corporation
QTRX Healthcare Medical Devices
Quanterix Corporation’s revenue for fiscal 2025 (year ended December 2025) was $138.9 million, up 1.07% from fiscal 2024. In the quarter to June 2026, revenue grew 34.4%, EPS fell 35.1% and free cash flow grew 18.9%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
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Quanterix Corporation (QTRX) Altman Z-score
Quanterix Corporation's Altman Z-score for fiscal 2025 is −0.87, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.87 | (3.31) |
| FY2024 | 2.44 | (4.89) |
| FY2023 | 7.33 | 4.15 |
| FY2022 | 3.18 | (11.92) |
| FY2021 | 15.10 | 2.93 |
| FY2020 | 12.17 | 5.01 |
| FY2019 | 7.16 | 1.95 |
| FY2018 | 5.21 | 5.32 |
| FY2017 | −0.11 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.33 | — | 0.39 | |
| Retained earnings / total assets | (1.38) | — | −1.93 | |
| EBIT / total assets | (0.30) | — | −0.99 | |
| Market value of equity / total liabilities | 2.20 | — | 1.32 | |
| Sales / total assets | 0.33 | — | 0.33 | |
| Altman Z-score | Distress zone | −0.87 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.83 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| RXST RxSight, Inc. compare | 5.0× |
| INGN Inogen, Inc compare | 1.6× |
| MXCT MaxCyte, Inc. compare | 1.3× |
| APYX Apyx Medical Corporation compare | 1.1× |
| ZOMDF Zomedica Corp. compare | 0.4× |
| OWLT Owlet, Inc. compare | −0.4× |
| QTRX Quanterix Corporation | −0.9× |
| STIM Neuronetics, Inc. compare | −3.5× |
| LUCD Lucid Diagnostics Inc. compare | −10.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets