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Quantum-Si (QSI)
NASDAQ:QSI
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Quantum-Si
(NASDAQ:QSI)
41Neutral
Positive Factors
Innovation and Growth
New Product Launch Could Set Foundation for Long-Term Growth; Reiterate Buy.
Partnerships and Collaborations
The company announced a collaboration with NVIDIA to use NVIDIA AI for the development of Proteus data processing and interpretation applications and to achieve accelerated computing.
Product Launch and Expansion
The company emphasized expansion into the international market with 18 international distribution partners to date, which could provide opportunities for revenue growth.
Negative Factors
Adoption and Market Penetration
It may take significant time before QSI can penetrate the protein sequencing opportunity.
Financial Performance
Decreasing price target to $1.00 reflects updated adoption assumptions for protein sequencing.
Market Challenges
Uncertainty regarding NIH funding could continue to impact the academic research market.
Quantum-Si (QSI) vs. S&P 500 (SPY)
Market Cap
$225.27M
Dividend YieldN/A
Average Volume (3M)7.00M
Price to Earnings (P/E)―
Beta (1Y)2.90
Revenue Growth182.62%
EPS Growth-3.67%
CountryUS
Employees149
SectorHealthcare
Sector Strength71
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.70
Shares Outstanding163,207,090
10 Day Avg. Volume3,706,028
30 Day Avg. Volume6,997,360
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)87.14
Price to Cash Flow (P/CF)-2.90
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$3.38Price Target Upside174.80% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Quantum-Si Business Overview & Revenue Model
Company DescriptionQuantum-Si incorporated, a life sciences company, develops a single molecule detection platform for sample preparation and sequencing. It offers a proprietary single molecule detection platform for use in semiconductor industry to field proteomics to enable next generation protein sequencing. The company was incorporated in 2013 is based in Guilford, Connecticut.
How the Company Makes MoneyQuantum-Si generates revenue primarily through the sale of its protein sequencing platforms and related consumables. The company's business model is centered around providing cutting-edge technology that enables more accurate and efficient protein analysis, which is crucial for drug development, diagnostics, and personalized medicine. In addition to direct product sales, Quantum-Si may also engage in strategic partnerships and collaborations with academic institutions, pharmaceutical companies, and research organizations, which can lead to additional revenue streams through joint development agreements and technology licensing. Service contracts and maintenance agreements for their platforms also contribute to the company's earnings.
Quantum-Si Financial Statement Overview
Summary
Quantum-Si shows strong revenue growth but faces significant profitability challenges with negative margins and net losses. The balance sheet is robust with low leverage, but the company struggles to turn equity into profit. Cash flow remains a concern, with continued negative free cash flow.Income Statement
The company has shown strong revenue growth from $1.08 million in 2023 to $3.06 million in 2024, a significant improvement. However, gross profit margin is low at 52.33%, and the company is still operating at a substantial net loss of $101 million, resulting in a negative net profit margin of -3303.83%. EBIT and EBITDA margins are also deeply negative, indicating ongoing operational challenges.30
Negative
Balance Sheet
Quantum-Si maintains a strong equity position with a debt-to-equity ratio of 0.06, indicating low financial leverage. The equity ratio is high at 86.89%, suggesting a strong balance sheet. However, the company still reports significant net losses, impacting return on equity, which is negative at -46.89%. This indicates inefficiencies in using equity to generate profit.45
Neutral
Cash Flow
Operating cash flow is negative at -$87.8 million, reflecting ongoing operational cash strains. There has been a slight improvement in free cash flow over the years, but it remains negative at -$92.4 million. The operating cash flow to net income ratio is 0.87, showing that cash flow is closely tracking net income losses, which is a concern.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 3.06M | 1.08M | 0.00 | 0.00 | 0.00 | Gross Profit |
| 1.60M | 488.00K | -2.58M | -1.04M | -894.00K | EBIT |
| -108.58M | -111.17M | -123.84M | -96.91M | -36.69M | EBITDA |
| -108.58M | -91.80M | -129.86M | -95.87M | -35.80M | Net Income Common Stockholders |
| -101.01M | -95.96M | -141.04M | -88.95M | -36.61M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 209.60M | 257.74M | 351.31M | 471.30M | 36.91M | Total Assets |
| 247.87M | 298.25M | 391.49M | 503.23M | 40.59M | Total Debt |
| 12.95M | 15.30M | 17.45M | 8.08M | 1.75M | Net Debt |
| -36.29M | -118.56M | -66.87M | -27.71M | -35.16M | Total Liabilities |
| 32.45M | 26.63M | 32.78M | 26.19M | 4.50M | Stockholders Equity |
| 215.42M | 271.62M | 358.71M | 477.03M | 36.09M |
| Cash Flow | Free Cash Flow | |||
| -92.38M | -99.31M | -101.30M | -72.58M | -33.03M | Operating Cash Flow |
| -87.80M | -94.04M | -90.56M | -66.81M | -32.57M | Investing Cash Flow |
| -32.67M | 143.43M | 137.19M | -450.94M | -461.00K | Financing Cash Flow |
| 35.88M | 149.00K | 1.91M | 516.63M | 37.01M |
Quantum-Si Technical Analysis
Negative
1.23
Price Trends
1.48
Negative
1.75
Negative
1.33
Negative
Market Momentum
-0.08
Negative
44.95
Neutral
79.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QSI, the sentiment is Negative. The current price of 1.23 is below the 20-day moving average (MA) of 1.28, below the 50-day MA of 1.48, and below the 200-day MA of 1.33, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 44.95 is Neutral, neither overbought nor oversold. The STOCH value of 79.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QSI.
Quantum-Si Risk Analysis
Quantum-Si disclosed 67 risk factors in its most recent earnings report. Quantum-Si reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Quantum-Si Peers Comparison
Overall Rating
UnderperformOutperform
Sector (50)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $237.85M | ― | -36.07% | ― | ― | -7.93% | |
50 Neutral | $5.51B | 2.95 | -43.70% | 2.78% | 16.94% | 3.59% | |
48 Neutral | $199.65M | ― | 322.49% | ― | -33.83% | 27.89% | |
46 Neutral | $251.44M | ― | -33.88% | ― | ― | -22.66% | |
45 Neutral | $124.94M | ― | -23.91% | ― | -13.92% | -2.86% | |
41 Neutral | $225.27M | ― | -41.48% | ― | 182.62% | -3.67% | |
30 Underperform | $98.66M | ― | -29.86% | ― | ― | -10.58% |
* Healthcare Sector Average
Performance Comparison
QSI
Quantum-Si
1.23
-0.30
-19.61%
NAUT
Nautilus Biotechnolgy
0.77
-1.66
-68.31%
FHTX
Foghorn Therapeutics
3.57
-2.21
-38.24%
AVIR
Atea Pharmaceuticals
2.82
-0.89
-23.99%
CMPX
Compass Therapeutics
1.70
0.17
11.11%
SEER
Seer
2.10
0.41
24.26%
Quantum-Si Earnings Call Summary
Earnings Call Date: Mar 3, 2025 | % Change Since: -5.38% | Next Earnings Date: May 8, 2025
Earnings Call Sentiment Positive
Quantum-Si reported strong revenue growth and expanded its customer base and distribution channels in 2024. Significant scientific advancements were made, with multiple publications and new product launches. However, challenges such as NIH funding uncertainty and long sales cycles remain. Despite these challenges, the company maintains a strong financial position and strategic partnerships, providing confidence moving forward.Highlights
Record Revenue Growth
Fourth quarter 2024 revenue reached $1.2 million, marking a 52% increase over the third quarter and a 183% year-over-year increase. Total annual revenue for 2024 was $3.1 million.
Expansion of Customer Base and Distribution
Diversified customer base to include academic, biotech, pharma, government, and contract research organizations, alongside expanding international distribution channels with 18 partners.
Scientific Advancements and Publications
Four manuscripts submitted for peer review, demonstrating significant advancements in protein sequencing technology and its applications, including detection of proteoform variation.
Launch of New Products
Introduction of new sequencing kits, a barcoding kit, and the launch of Platinum Pro, offering enhanced processing capabilities and user applications.
Strategic Partnerships and Financial Position
Formed strategic partnerships, raised significant capital, and maintained a strong financial position with $209.6 million in cash and cash equivalents, extending cash runway into 2027.
Lowlights
Uncertainty in NIH Funding
Potential impact on academic research market due to uncertainty in NIH funding, which could affect US market revenue.
Long Sales Cycles
Sales cycles are longer than expected for instruments of similar price, adding challenges to predictability in sales.
Operating Expenses and Restructuring
Operating expenses remain high, with $110.2 million for 2024. Restructuring efforts were initiated to streamline operations and align resources.
Company Guidance
During the Quantum-Si earnings call for the fourth quarter of 2024, the company outlined significant milestones and guidance for 2025. Quantum-Si reported $1.2 million in revenue for Q4 2024, marking a 52% increase over Q3 2024 and a 183% increase year-over-year, with full-year revenue totaling $3.1 million. The company highlighted its strategic priorities, including accelerating commercial adoption, enhancing its innovation roadmap, and maintaining financial strength. They achieved a milestone in Q4 by selling their fiftieth Platinum instrument and reported a gross margin of 51% for the quarter. For 2025, Quantum-Si expects revenue of at least $900,000 in Q1, representing 100% growth year-over-year, with adjusted operating expenses projected to be $103 million or less, and estimated cash usage for the year to be $95 million or less. The company also announced a cash runway into the second half of 2027, bolstered by a recent $50 million capital raise. Quantum-Si plans to continue expanding its international distribution network and anticipates launching a version four sequencing kit in the third quarter of 2025 to further increase its proteome coverage.Quantum-Si Corporate Events
Product-Related AnnouncementsBusiness Operations and Strategy
Quantum-Si Updates Corporate Strategy in Proteomics
Positive
Apr 10, 2025
On April 10, 2025, Quantum-Si Incorporated updated its corporate presentation, highlighting its strategic positioning in the expanding proteomics market. The company’s Proteus platform, expected to launch in the second half of 2026, aims to revolutionize proteomics research by offering single-molecule, top-down, and bottom-up methods. Quantum-Si’s technology is designed to address the complexities of proteomics analysis and is anticipated to transform the field from a complementary to a primary technology in research. The company’s advancements are expected to accelerate commercial adoption, evidenced by a 183% year-over-year growth.
Spark’s Take on QSI Stock
According to Spark, TipRanks’ AI Analyst, QSI is a Neutral.
Quantum-Si’s score reflects its robust revenue growth and strategic advancements, but it is weighed down by ongoing profitability challenges and negative cash flows. The stock’s technical indicators suggest current bearish momentum, and its valuation poses challenges due to a lack of profitability. The earnings call offered a positive outlook, but significant operational and market challenges remain.
To see Spark’s full report on QSI stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.