It might be seeking to raise up to $300 million in new funding in the future.Quantum-Si's (QSI -4.31%) shares weren't quite the picture of health as the trading week came to an end. Investors, concerned about the healthcare technology company potentially making dilutive secondary share issues, traded out of the stock to leave it with a nearly 5% loss on the day. Sitting on the shelfLate Thursday, Quantum-Si filed a shelf registration -- a regulatory document stating that a company aims to raise capital over ...

Group 1: U.S. Stock Market Overview - U.S. stock futures were higher, with Dow futures gaining over 100 points on Monday [1] Group 2: Inventiva ADR Performance - Inventiva reported losses of $(1.84) per share, significantly worse than the analyst consensus estimate of a loss of 41 cents per share [1] - The company reported quarterly sales of $5.050 million, missing the analyst consensus estimate of $5.310 million [1] - Inventiva shares dipped 5.5% to $5.72 in pre-market trading [1] Group 3: Other Stocks in Pre-Market Trading - MoonLake Immunotherapeutics saw a significant decline of 86.3% to $8.50 in pre-market trading [4] - Cellectis SA declined 10.4% to $3.01 in pre-market trading [4] - Quantum-Si Inc fell 10.1% to $1.34 in pre-market trading after filing for a mixed shelf of up to $300 million [4] - Penguin Solutions Inc decreased by 8.4% to $24.00 in pre-market trading [4] - Lithium Americas Corp declined 5.4% to $5.99 in pre-market trading after a 14% drop on Monday [4] - Platinum Analytics Cayman Ltd fell 5.3% to $16.20 in pre-market trading after a 44% increase on Monday [4] - Novo Nordisk A/S decreased by 2.9% to $54.01 in pre-market trading [4] - Lexicon Pharmaceuticals Inc declined 2.9% to $1.36 in pre-market trading, recently announcing an update on submission of additional data to the U.S. FDA regarding Zynquista® in Type 1 Diabetes [4]

Group 1: U.S. Stock Market Overview - U.S. stock futures were higher, with Dow futures gaining over 100 points on Monday [1] Group 2: Inventiva ADR Performance - Inventiva reported a loss of $(1.84) per share, significantly worse than the analyst consensus estimate of a loss of 41 cents per share [1] - The company’s quarterly sales were $5.050 million, missing the analyst consensus estimate of $5.310 million [1] - Inventiva shares fell 5.5% to $5.72 in pre-market trading [1] Group 3: Other Stocks in Pre-Market Trading - MoonLake Immunotherapeutics saw a significant decline of 86.3% to $8.50 in pre-market trading [4] - Cellectis SA declined 10.4% to $3.01 in pre-market trading [4] - Quantum-Si Inc fell 10.1% to $1.34 in pre-market trading after filing for a mixed shelf of up to $300 million [4] - Penguin Solutions Inc dropped 8.4% to $24.00 in pre-market trading [4] - Lithium Americas Corp declined 5.4% to $5.99 in pre-market trading after a 14% dip on Monday [4] - Platinum Analytics Cayman Ltd fell 5.3% to $16.20 in pre-market trading after a 44% jump on Monday [4] - Novo Nordisk A/S decreased by 2.9% to $54.01 in pre-market trading [4] - Lexicon Pharmaceuticals Inc declined 2.9% to $1.36 in pre-market trading, with an update on additional data submission to the U.S. FDA regarding Zynquista® in Type 1 Diabetes [4]

Summary of Quantum-Si Conference Call Company Overview - **Company**: Quantum-Si - **Industry**: Protein Sequencing Technology - **Core Product**: Platinum, a single-molecule protein sequencing device, and associated software - **Upcoming Product**: Proteus, a second-generation sequencer with a new architecture [1][2] Key Points and Arguments Market Position and Technology - Quantum-Si is the first and currently the only company to commercialize next-generation protein sequencing, allowing analysis at the individual amino acid level [2] - The company launched the Platinum machine in 2022, which has been pivotal in establishing its market presence [6][10] - The Proteus architecture was announced in November of the previous year, aiming to enhance commercial penetration [4][5] Development and Milestones - The company has a strong track record of meeting technology milestones, with a goal to achieve sequencing on a Proteus prototype by the end of the year [4][5] - An analyst and investor day is scheduled for November, where further updates on Proteus and future plans will be shared [5] Market Insights - There is a growing belief that proteomics will surpass genomics in significance, driven by large-scale population studies generating new data [7] - The complexity of proteomics compared to DNA sequencing has led to a deeper understanding of market needs and the importance of sample preparation [8] Commercialization Strategy - Quantum-Si has established a mix of direct and distribution partnerships, with 23 partners outside the U.S. to expand its market reach [11] - The company has pivoted towards biopharma markets, finding traction in applications like barcoding for candidate selection and screening [15][16] Financial Management - The company ended the last quarter with $214 million in cash and has a runway extending into Q2 of 2028 [31] - Operational expenses have been controlled effectively, with spending projected to be less than $100 million this year, down from $120 million previously [31][32] Product Development and Innovation - The company is focused on evolving its library preparation and sequencing kits, ensuring compatibility with the new Proteus architecture [17][18] - Significant improvements have been made in sequencing output, with a new chemistry version showing an 83% increase in output [19] Customer Engagement and Feedback - Customer interactions have led to the development of specific tools and applications, such as those addressing post-translational modifications, which are critical for diagnostics and therapeutic targets [24][27] - The company has built a dedicated application development team to address unique customer challenges and expand its offerings [25][26] Data Analysis and Software Development - Quantum-Si is leveraging AI tools in partnership with NVIDIA to enhance data analysis capabilities and develop new recognizers for amino acids [21][22] - Continuous improvements in analysis software are being made to meet customer needs and automate workflows [23] Additional Important Insights - The company is focused on building brand recognition and establishing lighthouse accounts to support the launch of Proteus [12] - The evolving landscape of the academic and government markets has prompted the company to diversify its customer base and explore new opportunities [16] This summary encapsulates the key discussions and insights from the Quantum-Si conference call, highlighting the company's strategic direction, market positioning, and future growth potential.

Summary of Quantum-Si (QSI) Conference - August 14, 2025 Industry and Company Overview - **Industry**: Proteomics and Cellular Research - **Companies Involved**: Quantum-Si (QSI) and Cytec Biosciences Key Points and Arguments Quantum-Si's Technology and Applications - Quantum-Si offers next-generation protein sequencing, enabling the reading of individual amino acids, which allows for the study of previously difficult-to-analyze proteins and variants [3][4] - Customers are interested in applications such as single amino acid variants, isomers, and post-translational modifications, which are crucial for understanding therapy responses and disease progression [4] - The U.S. market shows a demand for advanced proteomics tools, while international markets may focus more on basic protein characterization due to limited access [5] Cytec Biosciences' Flow Cytometry Innovations - Cytec specializes in flow cytometry, enhancing conventional technology with full spectrum profiling, which captures more data and improves sensitivity in applications like minimal residual disease (MRD) detection [6][8] - The technology allows for faster drug discovery by enabling the analysis of multiple parameters quickly, addressing the needs of the pharmaceutical industry [9] Market Challenges and Business Management - The academic market is facing challenges, but Quantum-Si maintains a strong balance sheet that allows for strategic investments and operational stability through 2028 [16][17] - Cytec aims to replace older flow cytometers, leveraging the need for advanced features and cost efficiency to capture market opportunities despite tight capital expenditures [19][20] Clinical Market and Regulatory Approvals - Cytec has achieved clinical approvals in China and is progressing in Europe, with tools approved for applications like leukemia and MRD [28][29] - The U.S. FDA approval process is ongoing, which is expected to take longer compared to other regions [30] Future Technology and Market Potential - Quantum-Si is developing a new platform called Proteus, expected to launch in 2026, which will significantly increase sequencing capacity and capabilities [37][40] - The company believes that as technology improves and costs decrease, the adoption of proteomics will mirror the growth seen in DNA sequencing [31][34] Role of AI in Operations and Product Development - Both companies are integrating AI to enhance data analysis and operational efficiency, with Cytec using AI for panel design and Quantum-Si leveraging AI for protein design and analysis [41][42][46] - Quantum-Si has partnered with NVIDIA to improve AI-driven design processes, resulting in significant improvements in amino acid coverage [46][47] Additional Important Insights - The proteomics market is complex, with varying costs and applications, making it difficult to establish a uniform business model [35] - The companies are focused on maintaining their strategic direction and leveraging their technological advancements to capture market share and drive growth [18][21]

Quantum-Si (QSI) FY Conference Summary Company Overview - **Company**: Quantum-Si (QSI) - **Industry**: Life Science Tools and Diagnostics - **Technology**: Next generation protein sequencer utilizing single molecule detection technology for amino acid detection [1][3] Core Points and Arguments Technology and Market Position - Quantum-Si is the first company to commercialize next generation protein sequencing, aiming for de novo sequencing of proteins [3][4] - The technology is currently used for targeted applications, with plans to expand sequencing output and amino acid coverage [4] Market Dynamics - **U.S. Academic Market**: Experiencing slowdowns in capital purchasing; however, consumable purchases from existing customers are ahead of expectations [5][6] - **Biopharma Market**: Positive traction with applications in protein barcoding; the company has increased opportunities from 30 to 60 in this sector [6][7] Capital Acquisition Models - New models for capital acquisition have been introduced, allowing customers to reagent rent or lease the platform, which may enhance long-term customer engagement [9][10] - A six-month evaluation period is set for customers using the device to assess usage and potential purchase [12][13] Sales Cycles - Academic sales cycles have stretched due to funding issues, while biopharma sales cycles remain longer due to the complexity of implementation [15][16] - Biopharma customers are committing significant time and resources, creating high barriers for competitors once contracts are secured [17] Utilization Patterns - Academic customers show episodic usage patterns, while biopharma customers exhibit more consistent purchasing behavior [22][23] - The platform is expected to generate consumable revenue equivalent to its list price of $125,000 annually at scale [25][26] Product Development - The launch of the Platinum Pro sequencer has been successful, offering onboard analysis capabilities and access to dyes for various applications [28][29] - Upcoming products include V3 and V4 library prep kits aimed at expanding amino acid coverage and lowering sample input requirements [31][34] PTM Detection Kits - PTM detection kits are anticipated to significantly expand the customer base and revenue potential, particularly in developed markets [36][39] - The ability to combine pre-sequencing detection with sequencing runs will enhance the depth of protein profiling [38] Future Product: Proteus - The Proteus device, set to launch in 2026, will feature a new optics-based architecture, allowing for higher density and lower production costs [41][44] - The development timeline is on track, with a prototype expected to demonstrate sequencing capabilities by the end of the year [45] AI Integration - AI is being utilized to develop amino acid recognizers and improve kinetic databases, which is expected to accelerate the path to complete proteome coverage [50][52] - The company has screened over a million binder candidates, providing a rich dataset for AI training [55][56] Additional Insights - There is a perception that the potential of Quantum-Si and its technology may be underestimated, particularly regarding the capabilities of the upcoming Proteus device [58][59] - The complexity of protein sequencing presents high barriers to entry for competitors, suggesting a strong market position for Quantum-Si [59][60]

Core Insights - Quantum-Si incorporated (QSI) reported a second-quarter 2025 loss of 16 cents per share, matching the Zacks Consensus Estimate, with revenues increasing 12.4% year over year to $0.59 million but missing estimates by 61.12% [1][9] Financial Performance - QSI's product revenues were $0.56 million, a decrease of 4.5% year over year, while service revenues were $0.03 million, down 13.2% year over year [2] - Domestic revenues accounted for $0.156 million (26.4% of total revenues), decreasing 13.3% year over year, while international revenues were $0.435 million (73.6% of total revenues), down 1.6% year over year [3] - Gross profit for Q2 was $0.351 million, a decline of 0.8% from the previous year, with a gross margin of 59.4%, up 250 basis points year over year [4] - Non-GAAP operating expenses decreased to $0.237 million from $0.244 million year over year, while GAAP operating expenses increased to $0.304 million from $0.268 million [5] Balance Sheet and Cash Flow - QSI ended the quarter with cash and cash equivalents of $0.22 million, down from $0.37 million in the prior quarter, and total debt of $0.33 million as of June 30, 2025, with a net cash outflow from operating activities of $0.46 million [6] Guidance and Estimates - QSI revised its 2025 guidance, now expecting adjusted operating expenses of less than or equal to $98 million, down from a previous estimate of $103 million [7] - The Zacks Consensus Estimate for QSI's 2025 revenues is $5.7 million, indicating an 85.1% year-over-year increase, while the bottom line is expected to show a loss of 62 cents, reflecting a 6% year-over-year improvement [7]

Core Insights - Quantum-Si (QSI) reported a significant revenue shortfall in Q2 2025, with GAAP sales of $0.59 million, missing analyst estimates of $1.11 million by nearly 46.7% [1][5] - The company maintained a gross margin of 59%, an improvement from 57% in the prior year, despite ongoing struggles with commercial traction, particularly in U.S. academic markets [2][7] - QSI's accumulated deficit increased to $644.7 million as of June 30, 2025, highlighting the need for a clear path to sales growth to address sustained losses [8][15] Financial Performance - Q2 2025 GAAP revenue was $0.59 million, down 29.8% sequentially from Q1 2025 and a 5.0% decline year-over-year from Q2 2024 [2][5] - Earnings per share (EPS) for Q2 2025 was $(0.16), consistent with the same quarter last year [2] - Adjusted total operating expenses were $23.8 million, a decrease of 2.5% from the previous year, while adjusted EBITDA was negative $22.2 million [2][8] Business Overview - Quantum-Si focuses on next-generation protein sequencing technology aimed at making protein analysis more scalable and cost-effective [3] - The company is working on the launch of its Proteus platform, expected to enhance output and automation, with a prototype scheduled for late 2025 and commercial launch in the second half of 2026 [4][9] - The firm has expanded its international distributor network to 23 partners, indicating a strategic shift towards non-U.S. and non-academic customer segments [6] Product Development and Innovation - The company continues to invest in innovation, with upcoming product launches including the Version 4 Sequencing Kit in Q3 2025 and a new Version 3 Library Preparation Kit expected later in the year [9][10] - QSI's intellectual property portfolio includes nearly 400 issued patents and close to 600 pending, providing a competitive advantage [12] Market Strategy and Outlook - Management has increased academic outreach through webinars and user groups to drive demand and adoption of its technology [11] - The company raised an additional $50 million through a direct stock offering, which should fund operations into the second quarter of 2028, providing some financial breathing room [13] - Key issues for investors include the pace of commercial adoption outside U.S. academic markets and the need for recurring consumable sales to signal instrument utilization [15]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $591,000, significantly below expectations, primarily due to a near halt in capital sales of new instruments [7][24] - Gross profit was $351,000, resulting in a gross margin of 59% for the quarter [24] - For the six months ended June 30, 2025, total revenue was $1,400,000, with a gross profit of $837,000 and a gross margin of 58% [25] Business Line Data and Key Metrics Changes - Capital sales of new instruments were the main driver for the revenue decline, while consumable purchases slightly exceeded expectations [7][8] - The installed base of customers is approximately 65% outside the U.S. and 35% within the U.S., encompassing various customer types including academic, industrial, and government research labs [35] Market Data and Key Metrics Changes - The U.S. academic labs experienced a significant slowdown in capital purchases due to NIH funding uncertainties [7][29] - Despite capital market headwinds, consumable purchasing remained consistent across market segments, with government and pharma/biotech accounts showing stable demand [68] Company Strategy and Development Direction - The company aims to accelerate commercial adoption, deliver on its innovation roadmap, and preserve financial strength [6][21] - New instrument acquisition options have been launched to address capital sales headwinds, allowing customers to purchase consumables without upfront capital investment [10][11] - The company remains confident in the long-term market opportunity in proteomics and is focused on growing its installed customer base [11][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of NIH funding uncertainties on capital sales and expressed optimism about the potential for growth through new acquisition models [29][30] - The company anticipates that the new models will help capture consumable revenue and improve overall financial performance in the long term [29][70] Other Important Information - The company reported total operating expenses of $30,500,000 for Q2 2025, an increase from $26,800,000 in Q2 2024, while adjusted operating expenses were $23,800,000, slightly down from $24,400,000 [26] - The company ended the quarter with $214,200,000 in cash, cash equivalents, and investments in marketable securities, providing a strong financial position [27][32] Q&A Session Summary Question: How much of the $591,000 revenue is overseas and in pharma/biotech? - The company does not break out revenue by specific segments but noted that 65% of its installed base is outside the U.S. and 35% is within [35] Question: Is $500,000 to $600,000 the bottom for revenue? - Management expressed optimism that this is the bottom and expects gradual improvement, though not instant [36][38] Question: What does a typical placement look like under the new model? - The company offers several models, including capital purchases, reagent rentals, and short-term placements based on consumable revenue potential [40] Question: Are there any trends in leads with the new acquisition opportunities? - Initial data suggests that customers who were previously interested but constrained by capital are now engaging with the new options [46][49] Question: Will Proteus be offered through new models? - Currently, there are no plans to offer Proteus through alternative models; the focus remains on capital sales [61] Question: How is consumable purchasing trending? - Consumable revenue was slightly ahead of expectations, with consistent purchasing across market segments despite capital sales challenges [68] Question: Are the new kits suitable for specific end markets? - The new kits are designed to meet the needs of pharma/biotech customers and are expected to enhance penetration in that segment [72] Question: Is the company considering partnerships or acquisitions given its cash position? - While the company is open to exploring opportunities, the primary focus remains on executing its core technology and business [80][81] Question: If revenue remains soft, where would cuts be made? - The company does not anticipate cuts in the commercial team but will remain targeted in its approach to R&D and operational expenses [85][90]

[Quantum-Si Q2 2025 Earnings Release](index=1&type=section&id=Quantum-Si%20Q2%202025%20Earnings%20Release) [Executive Summary and Business Highlights](index=1&type=section&id=Executive%20Summary%20and%20Business%20Highlights) Quantum-Si reported revenue growth, addressed commercial headwinds, advanced product development, and secured $50 million in capital - First half 2025 revenue grew **33%** year-over-year to **$1.4 million**[5](index=5&type=chunk) - Commercial slowdowns due to NIH funding challenges led to expanded instrument acquisition options to drive user base growth[4](index=4&type=chunk)[5](index=5&type=chunk) - Product development remains on schedule for Q3/Q4 2025 launches of the **v4 Sequencing Kit** and **v3 Library Preparation Kit**, with the **Proteus system prototype** on track for successful protein sequencing by end of 2025[4](index=4&type=chunk)[5](index=5&type=chunk) - A registered direct offering raised **$50 million** in gross proceeds, extending the cash runway into **Q2 2028**[5](index=5&type=chunk)[9](index=9&type=chunk) [Financial Performance](index=2&type=section&id=Financial%20Performance) Q2 2025 revenue was $591K, with increased operating expenses and a widened net loss, while adjusted EBITDA remained stable Q2 & H1 2025 Revenue and Gross Profit | Metric | Q2 2025 ($) | H1 2025 ($) | | :--- | :--- | :--- | | Revenue | $591,000 | $1.4 million | | Gross Profit | $351,000 | $837,000 | | Gross Margin | 59% | 58% | Operating Expenses Comparison (in millions) | Period | Total Operating Expenses (GAAP, $ millions) | Adjusted Total Operating Expenses (Non-GAAP, $ millions) | | :--- | :--- | :--- | | **Q2 2025** | $30.5 | $23.8 | | **Q2 2024** | $26.8 | $24.4 | | **H1 2025** | $56.1 | $46.6 | | **H1 2024** | $50.4 | $46.3 | Net Loss and Adjusted EBITDA Comparison (in millions) | Period | Net Loss (GAAP, $ millions) | Adjusted EBITDA (Non-GAAP, $ millions) | | :--- | :--- | :--- | | **Q2 2025** | $(28.8) | $(22.2) | | **Q2 2024** | $(23.1) | $(22.6) | | **H1 2025** | $(48.0) | $(43.7) | | **H1 2024** | $(42.6) | $(43.2) | - As of June 30, 2025, cash, cash equivalents, and marketable securities totaled **$214.2 million**, with a subsequent **$50 million** capital raise extending the operational runway into **Q2 2028**[9](index=9&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) This section details Quantum-Si's unaudited balance sheets, statements of operations, and GAAP to non-GAAP reconciliations [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet reflects total assets of $254.4 million, with liabilities of $33.4 million and equity of $221.0 million Key Balance Sheet Items (in thousands) | Account | June 30, 2025 ($ thousands) | December 31, 2024 ($ thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $22,188 | $49,241 | | Marketable securities | $192,023 | $160,362 | | Total current assets | $226,474 | $218,009 | | Total assets | $254,406 | $247,871 | | Total current liabilities | $24,019 | $18,187 | | Total liabilities | $33,423 | $32,451 | | Total stockholders' equity | $220,983 | $215,420 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2025 revenue was $591,000, with net loss widening to $28.8 million due to higher operating expenses and a legal settlement Statement of Operations Summary - Three Months Ended June 30 (in thousands, except per share data) | Metric | 2025 ($ thousands) | 2024 ($ thousands) | | :--- | :--- | :--- | | Total revenue | $591 | $622 | | Gross profit | $351 | $354 | | Total operating expenses | $30,471 | $26,805 | | Loss from operations | $(30,120) | $(26,451) | | Net loss | $(28,836) | $(23,099) | | Net loss per share | $(0.16) | $(0.16) | Statement of Operations Summary - Six Months Ended June 30 (in thousands, except per share data) | Metric | 2025 ($ thousands) | 2024 ($ thousands) | | :--- | :--- | :--- | | Total revenue | $1,433 | $1,079 | | Gross profit | $837 | $623 | | Total operating expenses | $56,069 | $50,434 | | Loss from operations | $(55,232) | $(49,811) | | Net loss | $(48,025) | $(42,573) | | Net loss per share | $(0.26) | $(0.30) | [Reconciliation of U.S. GAAP to Non-GAAP Financial Measures](index=6&type=section&id=Reconciliation%20of%20U.S.%20GAAP%20to%20Non-GAAP%20Financial%20Measures) This section reconciles GAAP to non-GAAP financial measures, adjusting Q2 2025 net loss to negative $22.2 million Adjusted EBITDA Reconciliation to Adjusted EBITDA (in thousands) | Metric | Q2 2025 ($ thousands) | Q2 2024 ($ thousands) | H1 2025 ($ thousands) | H1 2024 ($ thousands) | | :--- | :--- | :--- | :--- | :--- | | Net loss (GAAP) | $(28,836) | $(23,099) | $(48,025) | $(42,573) | | Adjustments | $6,611 | $466 | $4,345 | $(2,403) | | Adjusted EBITDA (Non-GAAP) | $(22,225) | $(22,633) | $(43,680) | $(43,180) | Reconciliation to Adjusted Total Operating Expenses (in thousands) | Metric | Q2 2025 ($ thousands) | Q2 2024 ($ thousands) | H1 2025 ($ thousands) | H1 2024 ($ thousands) | | :--- | :--- | :--- | :--- | :--- | | Total operating expenses (GAAP) | $30,471 | $26,805 | $56,069 | $50,434 | | Adjustments | $(6,704) | $(2,431) | $(9,444) | $(4,183) | | Adjusted total operating expenses (Non-GAAP) | $23,767 | $24,374 | $46,625 | $46,251 |