Quantum-Si Inc QSI
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| 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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $0 | $0 | $1.1M | $3.1M | $2.4M |
| Gross profit | — | — | — | $0 | $0 | $488.0K | $1.6M | $1.2M |
| Net income | — | -$35.8M | -$36.6M | -$95.0M | -$132.4M | -$96.0M | -$101.0M | -$101.3M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Results announced Item 2.02
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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