Quantum-Si Inc QSI

Technology SIC 3829 - Measuring & Controlling Devices, NEC Nasdaq

Quantum-Si Incorporated (including its subsidiaries, "Quantum-Si", "QSI", or the "Company") was incorporated in Delaware on June 10, 2020 as HighCape Capital Acquisition Corp. ("HighCape"). The Company's legal name became Quantum-Si Incorporated following a business combination on June 10, 2021 between the Company and Q-SI Operations Inc. (formerly Quantum-Si Incorporated) (the "Business Combination"), which was founded in 2013.

We are a life sciences company focused on proteomics research, with the mission of transforming single-molecule analysis and democratizing its use by providing researchers and clinicians access to the proteome, the set of proteins expressed within a cell. We have developed a proprietary, universal, single-molecule detection platform that we are applying to proteomics to enable next-gen protein sequencing ("NGPS") to sequence proteins in a massively parallel fashion (rather than sequentially, one at a time), which can also be used for the study of nucleic acids. We believe in the ability to sequence proteins in a massively parallel fashion and offer a fast analysis time which provides NGPS with the potential to unlock significant biological information through improved resolution and unbiased access to the proteome at a speed and scale not available today. Traditionally, proteomic workflows to sequence proteins required days or weeks to complete. Our current platform includes our Platinum® NGPS line of instruments, Platinum Analysis Software and consumable kits for use with our Platinum line of instruments. In 2021, we introduced our Platinum early access program to sites with participation from leading academic centers and key industry partners. The early access program introduced the Platinum single-molecule sequencing system to key opinion leaders across the globe for both expansion and development of applications and workflows. We began a controlled launch of the Platinum instrument and started to take orders in December 2022, subsequently began a controlled commercial launch of Platinum in January 2023 and then moved to a full commercial launch of Platinum beginning in the second quarter of 2024. In January 2025, we announced the launch of our Platinum Pro benchtop sequencer. First shipments of Platinum Pro occurred in March 2025.

Last close 0.77 2026-09-04
Market cap $166.8M estimated share count
52-week range 0.69 - 3.10

Valuation FY2025 figures against the last close

P/S68.5x
P/E
P/FCF
EV/EBITDA
Dividend yield
Diluted EPS-0.51

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $2.4M$3.1M$1.1M$0$0
Cost of revenue $1.3M$1.5M$594.0K$0$0
Gross profit $1.2M$1.6M$488.0K$0$0
R&D $53.8M$59.6M$67.0M$72.1M$46.6M$27.6M$28.1M
SG&A $44.8M$50.5M$44.6M$42.3M$50.3M$9.1M$7.9M
Total operating expenses $117.3M$110.2M$111.7M$123.8M$96.9M$36.7M$36.6M
Operating income -$116.1M-$108.6M-$111.2M-$123.8M-$96.9M-$36.7M-$36.6M
Interest expense $0$0$5.0K$9.0K$0
Pre-tax income -$101.3M-$101.0M-$96.0M-$132.4M-$95.0M-$36.6M-$35.8M
Income tax $58.0K$56.0K$0$0$0$0$0
Net income -$101.3M-$101.0M-$96.0M-$132.4M-$95.0M-$36.6M-$35.8M
EPS, basic -0.51-0.71-0.68-0.95-1.19-6.84-6.95
EPS, diluted -0.51-0.71-0.68-0.95-1.19-6.84-6.95
Shares, diluted (wtd. avg.) $197.8M$143.2M$141.3M$139.3M$79.6M$5.4M$5.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $21.6M$49.2M$133.9M$84.3M$35.8M$36.9M$32.9M$46.7M
Short-term investments $141.3M$160.4M$435.5M$0
Receivables $561.0K$1.3M$368.0K$0
Inventory $3.2M$4.1M$3.9M$0
Total current assets $175.9M$218.0M$266.3M$358.2M$477.2M$37.9M
Property, plant and equipment $13.2M$16.0M$16.3M$16.8M$8.9M$2.0M
Goodwill $0$9.5M$0
Other intangibles $0$532.0K
Total assets $245.6M$247.9M$298.2M$391.5M$503.2M$40.6M
Accounts payable $1.6M$1.9M$1.8M$3.9M$3.4M$1.3M
Total current liabilities $23.0M$18.2M$11.6M$15.7M$11.5M$2.8M
Total liabilities $25.4M$32.5M$26.6M$32.8M$26.2M$4.5M
Retained earnings -$698.0M-$596.6M-$495.6M-$399.7M-$267.2M-$172.2M
Total equity $220.2M$215.4M$271.6M$358.7M$477.0M-$159.7M-$125.1M-$92.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow -$94.7M-$87.8M-$94.0M-$90.6M-$66.8M-$32.6M-$30.7M
Depreciation and amortisation $4.5M$4.6M$4.2M$2.6M$1.0M$894.0K$780.0K
Stock-based compensation $10.8M$8.9M$8.5M$11.2M$24.9M$1.9M$2.7M
Capital expenditure $2.5M$4.6M$4.5M$10.7M$5.8M$461.0K$1.2M
Investing cash flow -$28.3M-$32.7M$143.4M$137.2M-$450.9M-$461.0K-$1.2M
Financing cash flow $95.4M$35.9M$149.0K$1.9M$516.6M$37.0M$18.2M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001816431-26-000011.

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