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Sep 30, 2022
Quantum-Si Q3 2022 Earnings Report
Quantum-Si reported financial results for the third quarter ending September 30, 2022.
Key Takeaways
Quantum-Si's net loss was $31.7 million, and adjusted EBITDA was negative $22.9 million. The company is preparing to launch its Platinum instrument and expects to begin shipments in Q1 2023.
Jeff Hawkins was appointed as Chief Executive Officer and director to the Board.
A paper was published in Science on real-time dynamic single-molecule protein sequencing.
A subsidiary was formed to accelerate protein engineering and directed evolution programs.
The company expects to launch its PlatinumTM protein sequencing instrument and start taking orders before the end of 2022 and begin shipments in Q1 2023.
Forward Guidance
Quantum-Si expects to launch its PlatinumTM protein sequencing instrument and start taking orders before the end of 2022 and begin shipments in Q1 2023. The company expects operating expenses to grow 25-30% year-over-year in 2022.
Positive Outlook
- Launch Platinum instrument and start taking orders before the end of 2022
- Begin shipments in Q1 2023
- Increase efforts to manage costs
- Improve efficiencies
- Lowering operating expense guidance for a second consecutive time
Historical Earnings Impact
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