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Mar 31, 2022
Quantum-Si Q1 2022 Earnings Report
Quantum-Si reported financial results for the first quarter ending March 31, 2022.
Key Takeaways
Quantum-Si's operating expenses increased by 130% compared to the previous year. The company's net loss was $35.2 million, and adjusted EBITDA was negative $27.4 million. They held $434.8 million in cash, cash equivalents and marketable securities as of March 31, 2022.
Patrick Schneider was appointed as President & Chief Operating Officer.
Progress was made on scale-up activities, technology transfers and contract manufacturer collaborations to build operational scale in preparation for launch.
Technology transfer was successfully completed to the Garnet Valley, Pennsylvania facility for the scale up of semiconductor chip production.
An application note was shared demonstrating the use of Quantum-Si’s PlatinumTM sequencer to interrogate variants in Beta Amyloid.
Forward Guidance
The team is focused on launching in the second half of this year and is encouraged by the progress made this quarter, enabling them to be all systems go for launch.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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