QUANTERIX CORPORATION
QTRX · Healthcare · $172M mkt cap · FY2025 filings · · not refreshed in 35 days · No moat ·
Doesn't clear the bar
The five investor questions
2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $111M to $139M, increasing; diluted EPS -1.54 to -2.51, decreasing.
Median gross margin 47.5% over 10y, stable.
Median ROIC -78.1%, above the 12% hurdle in 0% of years.
Net cash position — no leverage risk.
Owner earnings changed trend unclear over up to the ten most recent annual observations.
Price vs. value if growth stopped today
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
- Not reported
- Unavailable — insufficient owner-earnings data
- Unavailable — insufficient growth-model data
- $3.67
- No price data
This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.
Among the current top-score group, the median current price is 239% above the zero-growth estimate across 48 of the current top 50 companies by Moat Score with both values.
Score records captured Jul 26, 2026.
Exactly which 50 companies?
FTNT, META, MEDP, IBEX, MSFT, GOOGL, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, MANH, VEEV, GRMN, SSD, MNST, DOCS, MCO, CPRT, NTAP, LRCX, NVDA, CORT, SFM, MPTI, ULTA, SN, RMD, ROL, PAYC, IRMD, INTU, DECK, MORN, LGCY, DAL, GWW, ISRG, MPWR, CTAS, LOPE, MRK, CMG, FAST, BKNG, ORLY
Missing a usable price or zero-growth estimate: ANF, BKNG.
Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
11 years of fundamentals
The business, in plain English
QUANTERIX CORPORATION booked $139M of revenue in FY2025 in the Healthcare sector and kept 46.8% of it as gross profit — a solid-margin business by that measure. After every other cost, −77.1% of each revenue dollar reached the bottom line.
Across the filed record, revenue grew from $17.6M (FY2016) to $139M (FY2025) — about 25.8% a year compounded over 9 years.
It earned −37.3% on invested capital in the latest filed year, FY2025. Across the full 7-year measurable filed record, median ROIC was −78.1%. Over the v3 recent window (7 measurable filed years), median ROIC was −78.1%. The Returns on Capital filter above scores it 0/100.
QTRX's latest filed year, FY2025, doesn't disclose total debt in a form the methodology can use, so current leverage is treated as unmeasured — never assumed to be zero.
Put together: Pricing Power is the strongest of the five filters (68/100) and Returns on Capital the weakest (0/100), which is how QTRX lands at 39/100 — a None moat.
This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.
Not meaningful FY2017: invested capital is negative (cash exceeds debt + equity)
The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.
Visual explainers
The filing-backed explainer service is temporarily unavailable, so no partial or guessed chart is shown.
Moat Score history
Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
- Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
- Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
- Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Insider activity
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for QTRX.
Track record
How QUANTERIX CORPORATION’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.
How to read this: each dot is what the engine would have scored QTRX on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.
Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.
What followed, in the years it rated Wide
In the reconstructed history shown, QTRX did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.
Healthcare context
#387 of 710 scored Healthcare companies, ranked by Moat Score.
Nearest peers by Moat Score
- #385ORMP ORAMED PHARMACEUTICALS INC.38.8 out of 100, No moatNo moat
- #386GKOS GLAUKOS Corp38.8 out of 100, No moatNo moat
- #388VYNE VYNE THERAPEUTICS INC.38.8 out of 100, No moatNo moat
- #389LQDA LIQUIDIA CORPORATION38.7 out of 100, No moatNo moat
Compare QTRX with its nearest peers →All Healthcare companies on the Index →
Common questions about QTRX
- Does QUANTERIX CORPORATION have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores QUANTERIX CORPORATION (QTRX) 38.8 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 47, pricing power 68, returns on capital 0, balance-sheet safety 55, capital allocation 24.
- How has QTRX's Moat Score changed over time?
- The record logs 15 readings since Jul 17, 2026; the latest reads 38.8 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.