$QSI

Quantum-Si Inc

CIK:0001816431|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Revenue	$ 344	$ 591	$ 602	$ 1,433
Cost of revenue
Total cost of revenue	172	240	356	596
Gross profit	172	351	246	837
Operating expenses:
Research and development	15,824	15,213	30,311	28,930
Selling, general and administrative	9,977	11,896	19,617	23,777
Legal settlement expense, net of insurance proceeds	0	3,362	0	3,362
Total operating expenses	25,801	30,471	49,928	56,069
Loss from operations	(25,629)	(30,120)	(49,682)	(55,232)
Dividend income	114	155	245	376
Interest income	1,544	2,157	3,288	4,483
Change in fair value of warrant liabilities	437	(994)	794	2,407
Other (expense) income, net	0	(14)	28	(28)
Loss before (provision) benefit for income taxes	(23,534)	(28,816)	(45,327)	(47,994)
(Provision) benefit for income taxes	0	(20)	122	(31)
Net loss	$ (23,534)	$ (28,836)	$ (45,205)	$ (48,025)
Net loss per common share attributable to common stockholders, basic (in dollars per share)	$ (0.11)	$ (0.16)	$ (0.21)	$ (0.26)
Net loss per common share attributable to common stockholders, diluted (in dollars per share)	$ (0.11)	$ (0.16)	$ (0.21)	$ (0.26)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic (in shares)	217,802	183,625	217,141	182,968
Weighted-average shares used to compute net loss per share attributable to common stockholders, diluted (in shares)	217,802	183,625	217,141	182,968
Other comprehensive income (loss)
Net unrealized loss on marketable securities, net of tax	$ (37)	$ (54)	$ (341)	$ (107)
Foreign currency translation adjustment	(22)	16	(94)	22
Total other comprehensive loss, net of tax	(59)	(38)	(435)	(85)
Comprehensive loss	(23,593)	(28,874)	(45,640)	(48,110)
Product
Revenue:
Revenue	314	558	530	1,366
Cost of revenue
Total cost of revenue	172	230	349	567
Service
Revenue:
Revenue	30	33	72	67
Cost of revenue
Total cost of revenue	$ 0	$ 10	$ 7	$ 29

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (45,205)	$ (48,025)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,454	2,108
Non-cash lease expense	757	1,279
Accretion on marketable securities	(1,609)	(4,263)
Loss on disposal of fixed assets	0	15
Write-down of inventory	1,361	997
Change in fair value of warrant liabilities	(794)	(2,407)
Stock-based compensation	5,615	5,258
Changes in operating assets and liabilities:
Accounts receivable, net	504	416
Legal settlement insurance receivable	4,638	(4,638)
Inventory	(311)	(766)
Prepaid expenses and other current assets	(708)	186
Other assets	116	0
Accounts payable	140	46
Accrued expenses and other current liabilities	(2,112)	(2,777)
Accrued legal settlement liability	(8,000)	8,000
Operating lease liabilities	(913)	(1,806)
Other long-term liabilities	(15)	26
Net cash used in operating activities	(44,082)	(46,351)
Cash flows from investing activities:
Purchases of property and equipment	(357)	(1,634)
Lease security deposit paid	(434)	0
Purchases of marketable securities	(89,016)	(191,605)
Sales and maturities of marketable securities	138,200	164,100
Net cash provided by (used in) investing activities	48,393	(29,139)
Cash flows from financing activities:
Proceeds from exercise of stock options	0	1,641
Proceeds from issuance of common stock from direct equity offerings, net of fees and issuance costs	0	46,774
Net cash provided by financing activities	0	48,415
Effect of exchange rate changes on cash and cash equivalents	(95)	22
Net increase (decrease) in cash, cash equivalents and restricted cash	4,216	(27,053)
Cash, cash equivalents and restricted cash at beginning of period	21,639	49,241
Cash, cash equivalents and restricted cash at end of period	25,855	22,188
Reconciliation of cash, cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets:
Cash and cash equivalents	23,653	22,188
Restricted cash, non-current	2,202	0
Total cash, cash equivalents and restricted cash	25,855	22,188
Supplemental disclosure of cash flow information
Cash paid for income taxes	12	0
Supplemental disclosure of non-cash investing and financing activities
Property and equipment purchased but not paid	147	440
Transfers from inventory to property and equipment	$ 244	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 23,653	$ 21,639
Marketable securities, current	88,088	141,271
Accounts receivable, net of allowance of $270 and $270, respectively	57	561
Legal settlement insurance receivable	0	4,638
Inventory	2,027	3,197
Prepaid expenses and other current assets	5,262	4,554
Total current assets	119,087	175,860
Restricted cash, non-current	2,202	0
Marketable securities, non-current	58,122	52,855
Property and equipment, net	10,905	13,194
Operating lease right-of-use assets	2,707	3,464
Other assets	552	234
Total assets	193,575	245,607
Current liabilities:
Accounts payable	1,591	1,623
Accrued payroll and payroll-related costs	2,955	5,903
Accrued contracted services	3,210	3,356
Accrued legal settlement liability	0	8,000
Accrued expenses and other current liabilities	2,347	1,505
Warrant liabilities	0	794
Current portion of operating lease liabilities	1,843	1,844
Total current liabilities	11,946	23,025
Operating lease liabilities	1,410	2,322
Other long-term liabilities	18	34
Total liabilities	13,374	25,381
Commitments and contingencies (Note 16)
Stockholders’ equity:
Additional paid-in capital	923,805	918,190
Accumulated other comprehensive loss	(441)	(6)
Accumulated deficit	(743,185)	(697,980)
Total stockholders’ equity	180,201	220,226
Total liabilities and stockholders’ equity	193,575	245,607
Class A common stock
Stockholders’ equity:
Common stock	20	20
Class B common stock
Stockholders’ equity:
Common stock	$ 2	$ 2