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Jun 30, 2024

Quantum-Si Q2 2024 Earnings Report

Quantum-Si's financial performance in Q2 2024 reflected revenue growth and strategic investments in R&D and commercialization.

Key Takeaways

Quantum-Si reported revenue of $622,000 in the second quarter of 2024. The company launched the version 3 sequencing kit, completed the first quarter of full commercial launch of the Platinum® instrument, and appointed Chuck Kummeth as independent Chairman of the Board of Directors.

Reported revenue of $622,000 in the second quarter of 2024.

Completed the first quarter of full commercial launch of the Platinum® instrument in Q2 2024.

Launched the version 3 sequencing kit.

Appointed Chuck Kummeth as independent Chairman of the Board of Directors.

Total Revenue
$622K
Previous year: $205K
+203.4%
EPS
-$0.16
Previous year: -$0.18
-11.1%
Adjusted EBITDA
-$22.6M
Previous year: -$22.9M
-1.2%
Total Operating Expenses
$26.8M
Previous year: $27M
-0.7%
Gross Profit
$354K
Previous year: $78K
+353.8%
Cash and Equivalents
$59.6M
Previous year: $87.9M
-32.3%
Free Cash Flow
-$19.7M
Previous year: -$23.9M
-17.6%
Total Assets
$257M
Previous year: $341M
-24.7%

Quantum-Si

Quantum-Si

Quantum-Si Revenue by Segment

Forward Guidance

The Company reaffirms its full year 2024 financial guidance as follows: Revenue $3.7 - $4.2 million, Adjusted total operating expenses Less than $103 million, Total cash usage Less than $100 million.

Revenue & Expenses

Visualization of income flow from segment revenue to net income