Quanterix Corp (NASDAQ:QTRX), a laboratory analytical instruments company with a market capitalization of $450 million and strong financial health according to InvestingPro, announced today that it has finalized the acquisition of Emission Inc., a move that expands its technology portfolio and market reach. The transaction, completed on January 8, 2025, was executed under the terms of a Share Purchase Agreement initially dated December 16, 2024.
Under the agreement, Quanterix acquired all issued and outstanding shares of Emission for an upfront payment of $10 million. The deal also includes an additional $10 million contingent upon the completion of certain technical milestones.
Furthermore, Emission's shareholders are eligible for up to $50 million in earnout payments through December 31, 2029, if certain performance milestones are met. These earnout payments are expected to be primarily funded through cash generated from meeting the earnout criteria. With a current ratio of 10.07, InvestingPro data shows Quanterix maintains strong liquidity to support such investments.
The strategic acquisition is seen as a significant step for Quanterix, allowing the company to incorporate Emission's technologies into its offerings and potentially drive growth through new market opportunities. The company has not disclosed specific financial statements or pro forma financial information in connection with the acquisition, as they are not required for the transaction under the SEC regulations.
Quanterix's decision to acquire Emission reflects its commitment to enhancing its product lineup and delivering advanced solutions in the analytical instruments sector. The company's stock, listed on The Nasdaq Global Market under the ticker symbol QTRX, has shown recent momentum with a 10.91% return over the past week.
According to InvestingPro's Fair Value analysis, the stock is currently fairly valued, while maintaining impressive revenue growth of 14.72% over the last twelve months. Investors seeking deeper insights can access comprehensive analysis and additional ProTips through InvestingPro's detailed research reports.
This report is based on a press release statement and the information is extracted from a recent SEC filing by Quanterix.
In other recent news, Quanterix Corporation has announced plans to acquire Texas-based technology company EMISSION Inc. for $10 million.
The acquisition is expected to bolster Quanterix's technological capabilities, particularly in the area of multi-plex and multi-omic assays. The move also aligns with Quanterix's strategic goal of controlling core components to expand its technology stack.
In financial news, Quanterix has reported a 13% year-over-year increase in Q3 2024 revenues, reaching $35.7 million, driven primarily by a 36% surge in Accelerator lab services and an 8% increase in consumables. The company has reaffirmed its full-year revenue guidance of $134 million to $138 million.
In light of these developments, TD Cowen has raised Quanterix's stock target to $16, citing the company's solid revenue growth. Despite ongoing restatement of its financial results due to non-cash inventory accounting issues, the situation is viewed as manageable.
On the product front, Quanterix has launched 16 new products this year and plans for four more by year-end. The company aims to achieve wider adoption of its Simoa technology in immunology and oncology, with a focus on expanding diagnostic capabilities, particularly for Alzheimer's disease.
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