Quantitative single-photon emission computed tomography (SPECT) provides a mechanism to measure radiation-absorbed doses in lesions and normal organs after administration of alpha-particle emitting radiopharmaceutical therapies (α-RPTs). However, reliable (accurate and precise) quantification of dose requires reliable absolute quantification of regional activity uptake. This is especially challenging for α-RPT due to the complex emission spectra, the very low number of detected counts (up to 20 times lower than those detected in conventional SPECT), the impact of stray-radiation-related noise at these low counts, and other image-degrading processes in SPECT. The conventional reconstruction-based quantification methods are observed to be erroneous for α-RPT SPECT. To address these challenges, we developed a low-count quantitative SPECT (LC-QSPECT) method that incorporates multiple strategies to perform reliable quantification. First, the method directly estimates the regional activity uptake from the projection data, obviating the reconstruction step. Next, the method compensates for radioisotope and SPECT physics, including the isotope spectra, scatter, attenuation, and collimator-detector response, using a Monte Carlo-based approach. The method was validated in the context of three-dimensional SPECT with 223 Ra, a commonly used radionuclide for α-RPT. Validation was performed using both realistic simulation studies, including a virtual clinical trial, as well as synthetic and anthropomorphic physical-phantom studies. Across all studies, the LC-QSPECT method yielded reliable estimates of regional uptake and outperformed conventional ordered subset expectation maximization (OSEM)based reconstruction and geometric transfer matrix (GTM)based partial-volume compensation methods. Besides, the method yielded reliable uptake across different lesion sizes and lesion-to-bone uptake ratios. Further, the method yielded reliable estimates of mean uptake in lesions with varying intra-lesion heterogeneity in uptake. Additionally, the variance of the LC-QSPECT-method-estimated uptake