Quanterix Corporation has announced a significant accounting issue related to the capitalization of labor and overhead costs in its inventory balances, resulting in a misstatement of its previously issued financial statements. This error, identified after the issuance of the 2023 Annual Report, affects the audited consolidated financial statements for the years ending December 31, 2023, 2022, and the unaudited financial statements for several quarterly periods in 2022, 2023, and 2024. The company attributed the misstatement to a newly identified design deficiency in inventory valuation, leading to a restatement of the affected periods. As a result, Ernst and Young LLP, the company's independent registered public accounting firm, provided an adverse opinion on Quanterix's internal control over financial reporting for 2023. Subsequently, Quanterix decided to dismiss Ernst and Young LLP as its auditing firm, effective after filing the quarterly report for March 31, 2025.