By Stephen Nakrosis
Quanterix will reduce headcount as part of a plan to reduce operating costs and preserve cash.
The company said Monday that in light of market headwinds, it is implementing targeted cost reductions of about $30 million annually. The company said $9 million of an anticipated $15 million in reduced operating expenses this year will come from workforce reductions, with the remaining amount being realized from a reduction in other costs.
A figure on the number of jobs being lost wasn't provided. The cuts are expected to be substantially completed by the end of the quarter, the company said.
Quanterix also released first-quarter earnings after the close, and reported a loss of 53 cents per share on revenue of $30.3 million. In the year-ago period the company reported a loss per share of 29 cents per share, on revenue of $32 million.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 12, 2025 18:44 ET (22:44 GMT)
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