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Dec 31, 2023
Quantum-Si Q4 2023 Earnings Report
Quantum-Si's revenue increased due to its controlled commercial launch of its Platinum instrument, while also reducing operating expenses and net loss compared to the same period last year.
Key Takeaways
Quantum-Si reported a revenue of $400,000 for Q4 2023 as they continued the controlled commercial launch of their Platinum instrument. The company's gross margin was 45%. They are finalizing commercial readiness and expect full commercial launch by the end of Q1 2024. The net loss decreased to $22.0 million, and total operating expenses decreased to $28.1 million.
Revenue was $400,000 due to the controlled commercial launch of the Platinum instrument.
Gross margin was 45% for the quarter.
The company is finalizing commercial readiness for a full commercial launch by the end of Q1 2024.
Launched version 2 of its sequencing kit in early February 2024 and has begun shipping to customers
Quantum-Si
Quantum-Si
Forward Guidance
For the full year 2024, Quantum-Si expects revenue between $3.7 and $4.2 million and adjusted total operating expenses less than $103 million. Total cash usage is expected to be less than $100 million. The company anticipates its cash balance will provide a runway into 2026.
Positive Outlook
- Revenue is expected to be between $3.7 and $4.2 million.
- Adjusted total operating expenses are expected to be less than $103 million.
- Total cash usage is expected to be less than $100 million.
- Cash balance is expected to provide a runway into 2026.
- Full commercial launch of the Platinum instrument by the end of Q1 2024.
Challenges Ahead
- The company's expectations with respect to future performance and development and commercialization of products and services
- The company’s ongoing leadership transitions
- Changes in applicable laws or regulations
- The ability of the Company to raise financing in the future
- The success, cost and timing of the Company's product development and commercialization activities