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Jun 30, 2023
Quantum-Si Q2 2023 Earnings Report
Quantum-Si reported revenue of $205,000 driven by instrument and sequencing consumable kits sales. Gross profit margin was 38.0%. The company is focused on delivering technology capabilities and applications while maintaining financial discipline.
Key Takeaways
Quantum-Si Incorporated reported financial results for the second quarter ended June 30, 2023. The company recorded revenue of $205,000, a gross profit of $78,000, and a gross margin of 38.0%. Operating expenses were $27.0 million, and the net loss was $25.6 million. Adjusted EBITDA was negative $22.9 million. Cash and cash equivalents and investments in marketable securities were $297.2 million as of June 30, 2023.
Recognized revenue of $205,000 in the second quarter of 2023.
Exited the quarter with an order backlog of two Platinum instruments.
Strengthened the Executive Management team with the additions of Jeff Keyes as Chief Financial Officer and Johan Denecke as Senior Vice President, Operations
Initiated a strategic review of current R&D programs and R&D organizational design.
Quantum-Si
Quantum-Si
Forward Guidance
Quantum-Si is focused on maintaining financial discipline and reiterates full year non-GAAP operating expense to be flat compared to the prior year. The company maintains the expectation that the balance in cash and cash equivalents and investments in marketable securities of $297.2 million as of June 30, 2023 to provide a runway into 2026.
Positive Outlook
- Company reiterates full year non-GAAP operating expense to be flat compared to the prior year.
- Company maintains the expectation that the balance in cash and cash equivalents and investments in marketable securities of $297.2 million as of June 30, 2023 to provide a runway into 2026.
- The company is focused on delivering technology capabilities and applications
- The company is maintaining a high level of financial discipline over the use of capital resources.
- The company expects to deliver additional product improvements before the end of 2023