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Sep 30, 2023
Quantum-Si Q3 2023 Earnings Report
Quantum-Si's financial performance reflected continued controlled commercial launch and strategic realignment.
Key Takeaways
Quantum-Si reported revenue of $223,000 during its controlled commercial launch of the Platinum instrument in Q3 2023. The company completed a strategic review of R&D and made organizational changes to focus on delivering capabilities and applications with the highest customer demand. They anticipate transitioning to a full commercial launch in early 2024.
Recorded revenue of $223,000 in Q3 2023 from Platinum instrument sales during controlled commercial launch.
Completed strategic review of R&D programs and organizational design to focus development.
Presented first customer data in an October webinar.
Further strengthened the Board of Directors with the addition of independent director Amir Jafri.
Quantum-Si
Quantum-Si
Forward Guidance
The company expects its full year 2023 adjusted total operating expenses to be approximately $100 million and maintains the expectation that the balance in cash and cash equivalents and investments in marketable securities of $274.6 million as of September 30, 2023 will provide a runway into 2026.