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Quantum-Si Incorporated (QSI)
:QSI
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Quantum-Si
(NASDAQ:QSI)
Rating:44Neutral
Price Target:
$1.50
▲(12.78% Upside)
Positive Factors
International Growth
The company emphasized expansion into the international market with 18 international distribution partners to date, which could provide opportunities for revenue growth.
Partnerships
The company's partnership with Avantor is viewed as a tailwind to sales in the biopharma sector.
Product Launch
Focus remains on the long term with the anticipated launch of their next-generation protein sequencing device, Proteus.
Negative Factors
Funding Uncertainty
Uncertainty regarding NIH funding could continue to impact the academic research market.
Market Penetration
It may take significant time before QSI can penetrate the protein sequencing opportunity.
Revenue Performance
Management reported markedly lower revenue than the consensus expectation, attributing it partially to NIH funding challenges and a shift towards biopharmaceutical companies with longer sales cycles.
Quantum-Si (QSI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$277.42M
Dividend YieldN/A
Average Volume (3M)7.51M
Price to Earnings (P/E)―
Beta (1Y)2.80
Revenue Growth167.94%
EPS Growth-3.66%
CountryUS
Employees149
SectorHealthcare
Sector Strength37
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.16
Shares Outstanding182,557,700
10 Day Avg. Volume7,504,421
30 Day Avg. Volume7,511,602
Financial Highlights & Ratios
PEG Ratio-0.87
Price to Book (P/B)1.79
Price to Sales (P/S)126.43
P/FCF Ratio-4.19
Enterprise Value/Market Cap0.57
Enterprise Value/Revenue45.97
Enterprise Value/Gross Profit86.46
Enterprise Value/Ebitda-1.41
Forecast
1Y Price Target
$3.75Price Target Upside181.95% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
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 and deployment of its Platinum™ platform, which includes hardware, software, and consumables used for protein sequencing. The company also offers related services, such as data analysis and interpretation, which provide additional revenue streams. Quantum-Si's revenue model may include direct sales to research institutions, pharmaceutical companies, and clinical laboratories. Additionally, partnerships or collaborations with academic institutions and industry leaders may contribute to its earnings by expanding its market reach and driving adoption of its technology.
Quantum-Si Earnings Call Summary
Earnings Call Date:Aug 05, 2025
(Q2-2025)
| % Change Since: -7.64%|
Next Earnings Date:Nov 05, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted significant progress in technology development and strategic initiatives to address market challenges. Although revenue was impacted by external uncertainties, the company has introduced new strategies to adapt and maintain financial strength. While there are challenges, the advancements in product offerings and strong cash position provide a positive outlook.Q2-2025 Updates
Positive Updates
Increase in Pharma and Biotech Opportunities
The commercial team more than doubled the funnel of opportunities in the pharma and biotech segments from approximately 30 at the end of the first quarter to more than 60 at the end of the second quarter of 2025.
Launch of Expanded Instrument Acquisition Options
Quantum-Si introduced new acquisition options for their Platinum Pro instrument to address capital sales headwinds, allowing customers to acquire instruments without upfront capital, thereby capturing consumable revenue.
Proteus Development Program Milestones
Significant progress in the Proteus development program, including additional dye development and feasibility of wafer-scale surface chemistry processing, setting up for a successful launch in the second half of 2026.
AI-Based Recognizer Design Success
Completed the first AI-based recognizer design, achieving a binder that meets specifications within one design cycle, significantly shortening the timeline to produce candidate binders.
Post-Translational Modifications (PTM) Detection
Successfully developed a combined method for PTM detection that has met internal technology feasibility thresholds and transferred to product development for commercial kits.
Strong Financial Position
As of June 30, 2025, the company had $214.2 million in cash, cash equivalents, and marketable securities, providing runway into the second quarter of 2028.
Negative Updates
Revenue Impacted by NIH Funding Uncertainty
Revenue for Q2 2025 was $591,000, significantly below expectations due to a halt in capital purchases by U.S. academic labs affected by NIH funding and indirect cost cap uncertainties.
Operating Expenses and Litigation Costs
GAAP total operating expenses for Q2 2025 were $30.5 million, including a $3.4 million expense related to a preliminary settlement of stockholder litigation.
Lower Dividend and Interest Income
Dividend and interest income decreased to $2.3 million in Q2 2025 from $2.9 million in Q2 2024, reflecting lower interest rates and lower invested balances.
No Financial Guidance Due to Market Uncertainty
Due to the NIH funding environment and early stages of new acquisition models, the company could not provide top-line financial guidance for 2025.
Company Guidance
During the Quantum-Si Q2 2025 earnings call, the company reported revenue of $591,000, driven primarily by consumable sales despite a halt in capital purchases by U.S. academic labs due to NIH funding uncertainties. The gross profit was $351,000, with a gross margin of 59%. The company expanded its funnel of opportunities in the pharma and biotech sectors, doubling from approximately 30 to over 60 prospects. They launched new instrument acquisition options to overcome capital sales challenges, including leasing and reagent rental models, and secured initial customers with these alternatives. Quantum-Si also made progress on its innovation road map, with the upcoming release of their version 4 sequencing kit and version 3 library preparation kit, aiming to enhance proteome coverage and sample processing capabilities. They reported $214.2 million in cash and marketable securities, with a runway into Q2 2028, following a $50 million registered direct offering. The company revised its 2025 guidance for adjusted operating expenses to $98 million or less.Quantum-Si Financial Statement Overview
Summary
Quantum-Si shows strong revenue growth but continues to face 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, indicating ongoing operational and financial challenges.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 | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.41M | 3.06M | 1.08M | 0.00 | 0.00 | 0.00 |
| Gross Profit | 1.81M | 1.60M | 488.00K | -2.58M | -1.04M | -894.00K |
| EBITDA | -110.93M | -103.98M | -91.80M | -129.86M | -95.87M | -35.80M |
| Net Income | -106.46M | -101.01M | -95.96M | -141.04M | -88.95M | -36.61M |
Balance Sheet | ||||||
| Total Assets | 254.41M | 247.87M | 298.25M | 391.49M | 503.23M | 40.59M |
| Cash, Cash Equivalents and Short-Term Investments | 214.21M | 209.60M | 257.74M | 351.31M | 471.30M | 36.91M |
| Total Debt | 11.14M | 12.95M | 15.30M | 17.45M | 8.08M | 1.75M |
| Total Liabilities | 33.42M | 32.45M | 26.63M | 32.78M | 26.19M | 4.50M |
| Stockholders Equity | 220.98M | 215.42M | 271.62M | 358.71M | 477.03M | 36.09M |
Cash Flow | ||||||
| Free Cash Flow | -96.37M | -92.38M | -99.31M | -101.30M | -72.58M | -33.03M |
| Operating Cash Flow | -92.39M | -87.80M | -94.04M | -90.56M | -66.81M | -32.57M |
| Investing Cash Flow | -29.19M | -32.67M | 143.43M | 137.19M | -450.94M | -461.00K |
| Financing Cash Flow | 84.21M | 35.88M | 149.00K | 1.91M | 516.63M | 37.01M |
Quantum-Si Technical Analysis
Negative
1.33
Price Trends
1.75
Negative
1.54
Negative
1.59
Negative
Market Momentum
-0.11
Positive
31.32
Neutral
9.92
Positive
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 1.33 is below the 20-day moving average (MA) of 1.67, below the 50-day MA of 1.75, and below the 200-day MA of 1.59, indicating a bearish trend. The MACD of -0.11 indicates Positive momentum. The RSI at 31.32 is Neutral, neither overbought nor oversold. The STOCH value of 9.92 is Positive, 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 68 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 (47)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $402.40M | ― | -41.31% | ― | ― | -7.93% | |
52 Neutral | $121.22M | ― | -25.25% | ― | -1.02% | -8.59% | |
51 Neutral | $277.00M | ― | 322.49% | ― | -31.30% | 36.26% | |
47 Neutral | $298.67M | ― | -30.47% | ― | ― | -22.66% | |
47 Neutral | C$188.09M | -2.68 | -23.77% | 3.19% | 17.01% | 2.49% | |
44 Neutral | $277.42M | ― | -46.87% | ― | 167.94% | -3.66% | |
41 Neutral | $99.48M | ― | -31.55% | ― | ― | -1.20% |
* Healthcare Sector Average
Performance Comparison
QSI
Quantum-Si
1.33
0.44
49.44%
NAUT
Nautilus Biotechnolgy
0.74
-1.53
-67.40%
FHTX
Foghorn Therapeutics
4.98
-0.27
-5.14%
AVIR
Atea Pharmaceuticals
3.46
0.09
2.67%
CMPX
Compass Therapeutics
2.78
1.69
155.05%
SEER
Seer
2.01
0.29
16.86%
Quantum-Si Corporate Events
Private Placements and Financing
Quantum-Si Announces $50M Securities Purchase Agreement
Neutral
Jul 7, 2025
On July 3, 2025, Quantum-Si Incorporated announced a securities purchase agreement with an institutional investor for a registered direct offering of 29,940,119 shares of common stock, expected to generate approximately $50 million in gross proceeds. The company plans to use the funds for product development, commercialization, and general corporate purposes, with the offering expected to close on July 8, 2025, subject to customary conditions.
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.
Executive/Board ChangesShareholder Meetings
Quantum-Si Shareholders Approve Key Proposals at Annual Meeting
Positive
May 19, 2025
On May 16, 2025, Quantum-Si held its Annual Meeting where shareholders voted on three key proposals. The meeting saw the reelection of board members, the ratification of PricewaterhouseCoopers LLP as the independent auditor for the fiscal year ending December 31, 2025, and the approval of executive compensation, reflecting strong shareholder support for the company’s governance and financial strategies.
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.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.