Quantum-Si (QSI) AI Stock Analysis

• Market Cap: $204.28M
• Dividend Yield: N/A
• Average Volume (3M): 4.03M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.79
• Revenue Growth: 40.20%
• EPS Growth: -4.07%
• Country: US
• Employees: 149
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.08
• Shares Outstanding: 195,552,170
• 10 Day Avg. Volume: 2,733,426
• 30 Day Avg. Volume: 4,026,023
• PEG Ratio: 0.08
• Price to Book (P/B): 0.99
• Price to Sales (P/S): 89.30
• P/FCF Ratio: -2.24
• Enterprise Value/Market Cap: 0.80
• Enterprise Value/Revenue: 66.75
• Enterprise Value/Gross Profit: 141.03
• Enterprise Value/Ebitda: -1.63
• 1Y Price Target: $1.75
• Price Target Upside: 86.17% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.45
• Revenue Forecast (FY): $7.14M

• Rating: 46 Neutral
• Price Target: $0.93 ▼(-1.17% Downside)
• Action: Reiterated Date: 03/04/26
• Date: Action: Reiterated 03/04/26

The score is mainly held back by weak financial performance (very small, inconsistent revenue with large losses and ongoing cash burn) and bearish technicals (below key moving averages with negative MACD). The earnings call provides partial support through a strong cash runway and tighter spending plans plus Proteus development progress, but near-term revenue guidance is very low and execution/commercialization risk remains high. Valuation offers limited signal due to negative earnings and no dividend.

Positive Factors

Strong cash runway

A cash balance of $215.8M provides a durable multi-year runway (management cites operations into Q2 2028). This reduces near-term financing pressure, allowing management to fund Proteus development, controlled OpEx and commercial readiness without forcing dilutive capital in the next 2–3 years.

Recurring consumables model & placement traction

The installed-base consumables model supports predictable, recurring revenue once scale grows. Early placement program adoption (17 customers) and a >25% kits-run target for 2026 indicate structural potential for repeatable revenue and margin leverage independent of intermittent capital sales.

Product innovation and Proteus technical progress

Demonstrated prototype performance gains and a defined list price signal a differentiated, commercial-ready platform strategy. Combined with recent sequencing kit advances and published scientific use-cases, these durable product and validation milestones strengthen competitive positioning in high-resolution proteomics.

Negative Factors

Very low and volatile revenue base

Revenue remains tiny and uneven relative to fixed cost structure, with management guiding 2026 as a transition year and very low instrument sales. A small, volatile top line constrains reinvestment, delays scale economics for consumables, and increases sensitivity to execution setbacks over the next 2–6 months.

Persistent negative cash flow and losses

Sustained negative operating and free cash flow materially erode the equity base and require continued external funding or severe expense tightening. Even with a current runway, continued high burn versus revenue reduces strategic flexibility and increases long-term dilution risk if commercial ramps are delayed.

Commercial and manufacturing execution risk

Management has no secured Proteus orders and acknowledges integration and manufacturing scale-up work remains. Execution risk on prelaunch conversion, channel adoption and reliable manufacturing can delay revenue recognition, raise prelaunch costs, and compress margins if timelines slip beyond end‑2026.

Quantum-Si Business Overview & Revenue Model

Company Description

Quantum-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 Money

Quantum-Si generates revenue through multiple streams including the sale of its protein sequencing systems and reagents, as well as software licenses for its analytical tools. The company targets academic and commercial research institutions, pharmaceutical companies, and biotechnology firms that require advanced proteomic analysis capabilities. Significant partnerships with academic institutions and research organizations help to enhance its product development and validate its technology, potentially leading to further revenue opportunities. Additionally, QSI may explore collaborations for joint research projects or co-development agreements that can contribute to its earnings.

Quantum-Si Financial Statement Overview

Summary

Low revenue scale and volatility alongside persistent large net losses and negative free cash flow weigh heavily. Offsetting positives are a low-debt balance sheet and historically solid gross margins on limited revenue, but the shrinking equity base and ongoing cash burn remain key risks.

Income Statement

Revenue remains very small for the cost structure, and the company continues to post large losses. While gross margin has been solid since revenue emerged (about 45–52% in 2023–2025), profitability is weak with net losses of roughly $95–$132M annually and very negative net margins (e.g., -89% in 2023 and about -42% in 2025). Top-line momentum is also inconsistent, with revenue down ~23% in 2025 versus 2024 after modest growth in 2024.

Balance Sheet

The balance sheet is conservatively levered, with low debt relative to equity (debt-to-equity under ~0.06 across 2021–2025 and ~0.02 in 2025). However, the company’s equity base has declined meaningfully over time (from ~$477M in 2021 to ~$220M in 2025), reflecting sustained losses, and returns on equity remain deeply negative (around -35% to -47% in 2023–2025).

Cash Flow

Cash generation remains a key weakness: operating cash flow and free cash flow are consistently negative (roughly -$88M to -$97M in 2024–2025). Free cash flow also deteriorated in 2025 (about -8% versus 2024). A modest positive is that cash burn is broadly in line with reported losses (free cash flow is slightly worse than net income, near 1.0x), but the business is still reliant on external funding until cash burn materially improves.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.44M	3.06M	1.08M	0.00	0.00
Gross Profit	1.15M	1.60M	488.00K	0.00	0.00
EBITDA	-116.10M	-103.98M	-91.80M	-111.77M	-93.94M
Net Income	-101.34M	-101.01M	-95.96M	-132.44M	-94.99M
Balance Sheet
Total Assets	245.61M	247.87M	298.25M	391.49M	503.23M
Cash, Cash Equivalents and Short-Term Investments	162.91M	209.60M	257.74M	351.31M	471.30M
Total Debt	4.17M	12.95M	15.30M	17.45M	8.08M
Total Liabilities	25.38M	32.45M	26.63M	32.78M	26.19M
Stockholders Equity	220.23M	215.42M	271.62M	358.71M	477.03M
Cash Flow
Free Cash Flow	-97.23M	-92.38M	-99.31M	-101.30M	-72.58M
Operating Cash Flow	-94.72M	-87.80M	-94.04M	-90.56M	-66.81M
Investing Cash Flow	-28.32M	-32.67M	143.43M	137.19M	-450.94M
Financing Cash Flow	95.42M	35.88M	149.00K	1.91M	516.63M

Quantum-Si Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.94
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 0.94 is below the 20-day moving average (MA) of 0.99, below the 50-day MA of 1.13, and below the 200-day MA of 1.48, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 41.99 is Neutral, neither overbought nor oversold. The STOCH value of 43.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QSI.

Quantum-Si Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ERAS	59 Neutral	$4.68B	-5.05	-32.00%	―	―	45.66%
DSGN	55 Neutral	$569.64M	-6.31	-29.83%	―	―	-40.26%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
FHTX	49 Neutral	$332.16M	-4.86	―	―	-3.91%	37.89%
QSI	46 Neutral	$204.28M	-2.15	-52.44%	―	40.20%	-4.07%
SEER	46 Neutral	$101.56M	-1.64	-25.74%	―	13.77%	-4.76%
TNYA	43 Neutral	$119.08M	-3.26	-96.44%	―	―	46.68%

Quantum-Si Corporate Events

Quantum-Si Updates Investor Presentation Highlighting Proteomics Strategy

On December 29, 2025, Quantum-Si posted an updated corporate presentation for investors on its website, outlining its strategy to capitalize on what it sees as a more than $75 billion and rapidly growing proteomics market. The materials highlight the company’s differentiated single-molecule protein sequencing technology, the growing user base and published data for its first-to-market Platinum Pro system, and plans to use Platinum Pro to build commercial infrastructure ahead of the planned Proteus platform launch, which is designed to deliver automated, high-value proteoform and post-translational modification analysis more broadly across laboratories. The presentation underscores Quantum-Si’s existing global distribution network, partnerships across commercialization, product development and manufacturing, a cash runway extending into the second quarter of 2028, and its view that scalable, affordable protein sequencing will be critical to meeting rising demand for complex, high-resolution proteomics across research and emerging clinical applications.

The most recent analyst rating on (QSI) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Quantum-Si stock, see the QSI Stock Forecast page.