Quantum-Si (QSI)
NASDAQ:QSI
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Quantum-Si
(NASDAQ:QSI)
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Rating:50Neutral
Price Target:
$0.98
▼(-8.41% Downside)
Action:ReiteratedDate:05/01/26
The score is held down primarily by weak financial performance—very small/volatile revenue, large ongoing losses, and sustained negative free cash flow—despite low leverage. Technicals add a mild offset with improving short-term momentum but a still-bearish longer-term trend. The latest earnings call is mixed: strong liquidity runway and cost controls support execution, but 2026 guidance points to very limited revenue and elevated commercialization/manufacturing risk ahead of the planned Proteus launch.
Positive Factors
Recurring consumables/placement program
Quantum-Si’s business model combines instrument placements with high-frequency consumable sales. The placement program (17 new customers) and guidance for >25% kit-run growth support a durable recurring revenue stream that can compound as installed base expands and reduce reliance on one-time instrument sales.
Negative Factors
Very small, volatile revenue and cash burn
Persistent large losses and negative free cash flow versus very limited revenue mean the business must materially scale commercial adoption to reach self-sustainability. Until Proteus sales and consumable run-rates ramp, the company remains dependent on its cash runway or external funding, constraining optionality and increasing execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables/placement program
Quantum-Si’s business model combines instrument placements with high-frequency consumable sales. The placement program (17 new customers) and guidance for >25% kit-run growth support a durable recurring revenue stream that can compound as installed base expands and reduce reliance on one-time instrument sales.
Read all positive factors
Quantum-Si (QSI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$207.32M
Dividend YieldN/A
Average Volume (3M)3.89M
Price to Earnings (P/E)―
Beta (1Y)2.94
Revenue Growth-20.34%
EPS Growth26.54%
CountryUS
Employees149
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.52
Shares Outstanding196,431,270
10 Day Avg. Volume5,116,672
30 Day Avg. Volume3,888,215
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.99
Price to Sales (P/S)89.30
P/FCF Ratio-2.24
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue71.17
Enterprise Value/Gross Profit-52.52
Enterprise Value/Ebitda-1.66
Forecast
1Y Price Target
$2.50Price Target Upside133.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.43
Revenue Forecast (FY)$1.07M
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...
How the Company Makes Money
Quantum-Si makes money primarily by selling (1) instrument systems for its protein sequencing platform and (2) recurring consumables and reagents used to run experiments on those instruments, with additional revenue potential from associated softw...
Quantum-Si Key Performance Indicators (KPIs)
Any
Revenue by Segment
Details revenue contributions from each business unit, highlighting which areas are most lucrative and where growth or decline is occurring.
Details revenue contributions from each business unit, highlighting which areas are most lucrative and where growth or decline is occurring.
Data provided by:
The Fly
The FlyQuantum-Si Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Neutral
The call presents a mixed but deliberate narrative: strong technical progress on Proteus, meaningful product and scientific milestones, a successful placement program and a healthy cash position that supports execution. These positives are tempered by very low near-term revenue, Q4 margin compression, significant GAAP charges and the need to demonstrate commercial traction and reliable manufacturing for Proteus. Management frames 2026 as a planned transition year prioritizing long-term platform value over near-term revenue.Positive Updates
Strong Balance Sheet and Runway
Cash, cash equivalents and marketable securities of $215.8M as of 12/31/2025, providing a runway into Q2 2028 and supporting planned Proteus development and operations.
Negative Updates
Very Low Near-Term Revenue
Revenue for Q4 2025 was $451,000 and full-year 2025 revenue was $2.4M; management guides 2026 total revenue of approximately $1.0M as 2026 is a deliberate transition year focused on Proteus market prep rather than instrument sales.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Balance Sheet and Runway
Cash, cash equivalents and marketable securities of $215.8M as of 12/31/2025, providing a runway into Q2 2028 and supporting planned Proteus development and operations.
Read all positive updates
Company Guidance
Management guided 2026 as a deliberate transition year, forecasting total revenue of approximately $1.0M (driven largely by consumables and services), adjusted operating expenses of $98M or less (adjusted OpEx excludes stock‑based compensation), and total cash usage of $93M or less; they closed 2025 with $215.8M in cash, cash equivalents and marketable securities (supporting operations into Q2 2028), expect a >25% increase in consumable kits run year‑over‑year, plan a modest inventory build for commercial readiness, and reiterated a Proteus launch by end‑2026 with a $425,000 list price; for context, Q4 2025 revenue was $0.451M (Q4 gross margin 27%), FY2025 revenue was $2.4M (FY gross margin 47%), Q4 GAAP OpEx was $21.2M (adjusted $18.3M) and FY GAAP OpEx was $117.3M (adjusted $86.3M), the company has placed 17 new customers via its placement program, expects very limited Platinum Pro capital sales in 2026 (including customer upgrade credits that can defer near‑term revenue), and plans adjusted spending to finish Proteus development while preserving financial flexibility.Quantum-Si Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
26
Negative
| 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 | -3.30M | 1.60M | 488.00K | 0.00 | 0.00 |
| EBITDA | -92.59M | -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
Neutral
1.07
Price Trends
0.91
Positive
1.08
Negative
1.34
Negative
Market Momentum
0.01
Negative
68.22
Neutral
89.72
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QSI, the sentiment is Neutral. The current price of 1.07 is above the 20-day moving average (MA) of 0.82, above the 50-day MA of 0.91, and below the 200-day MA of 1.34, indicating a neutral trend. The MACD of 0.01 indicates Negative momentum. The RSI at 68.22 is Neutral, neither overbought nor oversold. The STOCH value of 89.72 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for QSI.
Quantum-Si Risk Analysis
Quantum-Si disclosed 69 risk factors in its most recent earnings report. Quantum-Si reported the most risks in the "Tech & Innovation" 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $830.68M | -9.27 | -33.07% | ― | ― | -20.34% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $207.32M | -2.15 | -43.90% | ― | -20.34% | 26.54% | |
50 Neutral | $279.41M | -3.92 | 88.31% | ― | 36.75% | 27.97% | |
48 Neutral | $114.53M | -1.64 | -26.04% | ― | 16.51% | 7.98% | |
45 Neutral | $3.12B | -8.47 | -34.48% | ― | ― | 41.14% | |
44 Neutral | $153.16M | -1.20 | -85.20% | ― | ― | 52.32% |
* Healthcare Sector Average
QSI
Quantum-Si
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-20.17%
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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.