QTRX (QTRX) financial statements
QTRX reported revenue of $139M in fiscal 2025, up 25.8% a year over 9 years.
Net income was -$107M and the operating margin -90.4%, against -123.5% in 2016.
Free cash flow was -$80M.
The diluted share count rose 1890% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from QTRX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18M | $23M | $38M | $57M | $86M | $111M | $106M | $122M | $137M | $139M |
| Cost of revenue | $10M | $13M | $20M | $30M | $38M | $46M | $60M | $48M | $54M | $74M |
| Gross profit | $8M | $10M | $18M | $27M | $48M | $65M | $45M | $74M | $83M | $65M |
| Research and development | $17M | $16M | $16M | $16M | $20M | $28M | $27M | $26M | $31M | $36M |
| Selling, general and admin | $12M | $20M | $34M | $52M | $60M | $93M | $92M | $89M | $102M | $138M |
| Operating income | -$22M | -$26M | -$32M | -$42M | -$32M | -$57M | -$104M | -$46M | -$53M | -$126M |
| Pre-tax income | -$23M | -$27M | -$32M | -$41M | -$32M | -$56M | -$99M | -$28M | -$38M | -$112M |
| Income tax | — | $0 | $25,000 | -$187,000 | -$376,000 | -$36,000 | $164,000 | $719,000 | $434,000 | -$5M |
| Net income | -$23M | -$27M | -$32M | -$41M | -$32M | -$56M | -$100M | -$28M | -$39M | -$107M |
| EPS (diluted) | — | — | — | -$1.63 | -$1.07 | -$1.54 | -$2.69 | -$0.75 | -$1.00 | -$2.51 |
| Diluted shares | 2M | 4M | 22M | 25M | 30M | 36M | 37M | 38M | 38M | 43M |
| Gross margin | 44.1% | 43.7% | 47.7% | 47.3% | 55.8% | 58.6% | 43.0% | 60.7% | 60.5% | 46.8% |
| Operating margin | -123.5% | -113.7% | -83.8% | -73.3% | -36.6% | -51.1% | -98.8% | -37.6% | -38.3% | -90.4% |
| Net margin | -131.8% | -118.1% | -83.8% | -71.9% | -36.5% | -50.2% | -94.4% | -23.2% | -28.0% | -77.1% |
Balance sheet
Fiscal years, from QTRX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $30M | $80M | $44M | $109M | $182M | $396M | $339M | $321M | $289M | $118M |
| Receivables | — | $6M | $7M | $11M | $17M | $24M | $19M | $25M | $32M | $30M |
| Inventory | — | $4M | $6M | $10M | $15M | $22M | $17M | $26M | $33M | $55M |
| Total current assets | — | $89M | $59M | $133M | $220M | $449M | $382M | $382M | $364M | $212M |
| Property, plant and equipment | — | $2M | $3M | $12M | $14M | $18M | $20M | $18M | $17M | $24M |
| Goodwill | — | — | $1M | $9M | $10M | $10M | $0 | $0 | $0 | $26M |
| Total assets | — | $92M | $68M | $170M | $271M | $502M | $434M | $429M | $407M | $419M |
| Total current liabilities | — | $20M | $18M | $20M | $40M | $37M | $31M | $39M | $42M | $75M |
| Long-term debt | — | $4M | $8M | $8M | — | — | — | — | — | — |
| Total liabilities | — | $26M | $27M | $41M | $65M | $61M | $76M | $79M | $76M | $123M |
| Shareholders' equity | -$115M | $66M | $41M | $129M | $206M | $443M | $358M | $350M | $330M | $296M |
| Net debt | -$30M | -$70M | -$37M | -$101M | -$174M | -$396M | -$339M | -$174M | -$57M | -$30M |
Cash flow
Fiscal years, from QTRX's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$18M | -$22M | -$29M | -$26M | -$23M | -$48M | -$49M | -$19M | -$35M | -$77M |
| Capital spending | $526,000 | $1M | $2M | $11M | $4M | $14M | $12M | $4M | $3M | $3M |
| Free cash flow | -$18M | -$23M | -$30M | -$37M | -$27M | -$61M | -$60M | -$23M | -$39M | -$80M |
| Stock-based compensation | $928,000 | $2M | $5M | $6M | $10M | $16M | $15M | $17M | $20M | $21M |
| Free cash flow margin | -103.9% | -101.6% | -80.4% | -65.3% | -31.6% | -55.4% | -57.1% | -18.5% | -28.0% | -57.5% |
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Open QTRX in InvestinglyQuestions
What was QTRX's revenue in 2025?
$139M in fiscal 2025, from its 10-K filing.
How much free cash flow does QTRX generate?
-$80M in fiscal 2025 (operating cash flow minus capital spending).
From QTRX's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.