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Sep 30, 2024
Quantum-Si Q3 2024 Earnings Report
Quantum-Si reported financial results for the third quarter ended September 30, 2024.
Key Takeaways
Quantum-Si reported revenue of $787,000 for the third quarter of 2024. The company is focusing on commercial execution and innovation, with new kits on track for launch in Q4. They anticipate not achieving their full year guided revenue range of $3.7 million to $4.2 million.
Reported revenue of $787,000 for the third quarter of 2024.
Liberate Bio integrated Platinum® Next-Generation Sequencing into their platform.
Todd Bennett appointed as Chief Commercial Officer, John Vieceli, Ph.D. as Chief Product Officer and Lindsay Thompson as Chief Human Resources Officer.
New library preparation kit and barcoding kit remain on track for launch before year end.
Revenue by Segment
Forward Guidance
Quantum-Si provided updated full year 2024 financial guidance for adjusted operating expenses and cash usage.
Positive Outlook
- Adjusted total operating expenses approximately $100 million.
- Total cash usage approximately $92 million.
- Cash runway into the second half of 2026.
- Focus on commercial execution.
- New kits expected to drive broader market adoption.
Challenges Ahead
- Potential shortfall in achieving full year guided revenue range of $3.7 million to $4.2 million.
- Observed some lengthening of the sales cycle in the third quarter.
- Uncertainties related to future performance and development.
- Risks related to commercialization of products and services.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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