Part I - Financial Information [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company reported significant net losses for Q2 and the six months ended June 30, 2022, driven by increased R&D expenses and non-operating items, while maintaining substantial cash and marketable securities [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2022, total assets decreased primarily due to reduced marketable securities, while liabilities slightly increased and stockholders' equity declined reflecting the net loss Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $81,272 | $35,785 | | Marketable securities | $319,398 | $435,519 | | Total current assets | $405,106 | $477,172 | | Total assets | $443,252 | $503,226 | | **Liabilities & Equity** | | | | Total current liabilities | $11,432 | $11,528 | | Total liabilities | $29,757 | $26,192 | | Total stockholders' equity | $413,495 | $477,034 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company's net loss for Q2 2022 improved due to warrant liability fair value changes, while the six-month net loss widened significantly due to increased R&D and marketable securities losses Statement of Operations Highlights (in thousands) | Metric | Q2 2022 | Q2 2021 | Six Months 2022 | Six Months 2021 | | :--- | :--- | :--- | :--- | :--- | | Research and development | $18,459 | $13,114 | $37,230 | $21,086 | | Selling, general and administrative | $11,741 | $19,050 | $20,110 | $22,857 | | Loss from operations | $(30,200) | $(32,164) | $(57,340) | $(43,943) | | Change in fair value of warrant liabilities | $2,337 | $(3,533) | $4,984 | $(3,533) | | Other (expense) income, net | $(5,603) | $3 | $(17,140) | $3 | | **Net loss and comprehensive loss** | **$(32,414)** | **$(35,697)** | **$(67,589)** | **$(47,476)** | | Net loss per share (basic and diluted) | $(0.23) | $(0.97) | $(0.49) | $(2.23) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations increased due to higher net loss, offset by significant cash provided by investing activities from marketable securities sales, leading to an overall increase in cash and cash equivalents Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | $(49,174) | $(29,875) | | Net cash provided by (used in) investing activities | $94,515 | $(1,229) | | Net cash provided by financing activities | $146 | $516,130 | | **Net increase in cash and cash equivalents** | **$45,487** | **$485,026** | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's NGPS platform development, key accounting policies, the Majelac acquisition for supply chain security, and financial instrument fair value measurements - The company is developing a proprietary single-molecule detection platform for Next-Generation Protein Sequencing (NGPS), comprising the Carbon instrument, Platinum instrument, Quantum-Si Cloud software, and consumables[32](index=32&type=chunk) - In November 2021, the company acquired assets from Majelac Technologies LLC to bring semiconductor chip assembly and packaging capabilities in-house, securing its supply chain for commercialization[63](index=63&type=chunk)[64](index=64&type=chunk) - Public and Private Warrants are classified as liabilities and measured at fair value, with changes recognized in the income statement. The fair value of warrant liabilities decreased from **$7.2 million** at year-end 2021 to **$2.3 million** as of June 30, 2022, resulting in a gain of **$5.0 million** for the six-month period[55](index=55&type=chunk)[92](index=92&type=chunk) - As a result of the former CEO's departure in February 2022, **1,731,371 RSU awards** were forfeited, leading to a reversal of **$4.7 million** in stock-based compensation expense for the six months ended June 30, 2022[82](index=82&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the NGPS platform launch, significant increases in R&D expenses, a decrease in SG&A, and the company's financial position to fund operations for the next 12 months - The company plans to launch its NGPS platform, including the Platinum instrument, for research use only (RUO) in **2022**, following an early access program with key opinion leaders in **2021**[107](index=107&type=chunk)[109](index=109&type=chunk) - As of June 30, 2022, the company had cash, cash equivalents, and marketable securities totaling **$400.7 million**. Management expects these funds to be sufficient for operations for at least the next **12 months**[150](index=150&type=chunk)[151](index=151&type=chunk) [Results of Operations](index=26&type=section&id=Results%20of%20Operations) R&D expenses significantly increased due to product development and headcount, while SG&A decreased due to non-recurring costs and stock-based compensation reversal, leading to a wider net loss Operating Expense Comparison (in thousands) | Expense Category | Six Months 2022 | Six Months 2021 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Research and development | $37,230 | $21,086 | $16,144 | 76.6% | | Selling, general and administrative | $20,110 | $22,857 | $(2,747) | (12.0)% | - The increase in R&D expenses for the first six months of 2022 was primarily due to a **$10.0 million** increase in product development activities and a **$7.5 million** increase in personnel costs from higher headcount[135](index=135&type=chunk) - The decrease in SG&A expenses for the first six months of 2022 was mainly due to a **$6.9 million** reduction in stock-based compensation (including a **$4.7 million** reversal from forfeited RSUs) and the absence of **$4.9 million** in 2021 transaction-related costs[136](index=136&type=chunk) [Non-GAAP Financial Measures](index=28&type=section&id=Non-GAAP%20Financial%20Measures) Adjusted EBITDA, a non-GAAP measure, showed a larger loss for the six months ended June 30, 2022, reflecting increased operating expenses, particularly in R&D Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Metric | Q2 2022 | Q2 2021 | Six Months 2022 | Six Months 2021 | | :--- | :--- | :--- | :--- | :--- | | Net loss | $(32,414) | $(35,697) | $(67,589) | $(47,476) | | **Adjusted EBITDA** | **$(25,822)** | **$(15,022)** | **$(53,224)** | **$(26,131)** | [Quantitative and Qualitative Disclosures About Market Risk](index=30&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate fluctuations on its short-term fixed-income investments, with capital preservation as the main objective - The company's main market risk is interest rate risk on its cash and marketable securities, which are primarily held in fixed-income mutual funds[169](index=169&type=chunk)[170](index=170&type=chunk) [Controls and Procedures](index=31&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls were ineffective due to material weaknesses in warrant accounting and the financial close process, with a remediation plan underway - Management concluded that disclosure controls and procedures were **not effective** as of June 30, 2022[172](index=172&type=chunk) - Two material weaknesses were identified: one related to the accounting for public and private warrants, and another related to the financial close process due to insufficient internal oversight of a third-party accounting firm[173](index=173&type=chunk)[174](index=174&type=chunk)[175](index=175&type=chunk) - A remediation plan is underway, including hiring a CFO, Vice President Controller, and other finance team members to strengthen internal controls[177](index=177&type=chunk) Part II - Other Information [Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings - As of the report date, the company is **not involved** in any material legal proceedings[180](index=180&type=chunk) [Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's Annual Report on Form 10-K - No material changes have occurred to the risk factors disclosed in the Annual Report on Form 10-K for the year ended December 31, 2021[181](index=181&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section is not applicable for the current reporting period [Defaults Upon Senior Securities](index=32&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) This section is not applicable for the current reporting period [Mine Safety Disclosures](index=32&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable for the current reporting period [Other Information](index=32&type=section&id=Item%205.%20Other%20Information) This section is not applicable for the current reporting period [Exhibits](index=33&type=section&id=Item%206.%20Exhibits) The report includes various exhibits, such as employment agreements and certifications from the Principal Executive and Financial Officers - Exhibits filed with the report include certifications from the CEO and CFO pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act[189](index=189&type=chunk)

Quantum-Si incorporated (NASDAQ:QSI) Q1 2022 Earnings Conference Call May 9, 2022 4:30 PM ET Company Participants Juan Avendano - Head, IR Jonathan Rothberg - Interim CEO Claudia Drayton - CFO Patrick Schneider - President and Chief Operating Officer Conference Call Participants Kyle Mikson - Canaccord Genuity Operator Ladies and gentlemen, thank you for standing by, and welcome to the Quantum-Si First 2022 Earnings Call. [Operator Instructions] Please be advised today's conference is being recorded. I woul ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39486 QUANTUM-SI INCORPORATED (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39486 QUANTUM-SI INCORPORATED (Exact name of registrant as specified in its charter) Delaware 85-1388175 (State or other jurisdictio ...

Quantum-Si, Inc. (NASDAQ:QSI) Q4 2021 Earnings Conference Call February 28, 2022 4:30 PM ET Company Participants Juan Avendano - Head, IR Jonathan Rothberg - Founder, Interim CEO & Executive Chairman Michael Mina - Chief Medical Advisor & Director Claudia Drayton - CFO Conference Call Participants Kyle Mikson - Canaccord Genuity Operator Ladies and gentlemen, thank you for standing by, and welcome to the Quantum-Si Q4 2021 Earnings Call. [Operator Instructions] Please be advised today's conference is being ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or 530 Old Whitfield Street Guilford, Connecticut 06437 (Address of principal executive offices) (Zip Code) (203) 458-7100 (Registrant's telephone number, including area code) Not applicable (Former name, former address and former fiscal year, if changed since last report) Secur ...

Quantum-Si Incorporated (NASDAQ:QSI) Q3 2021 Earnings Conference Call November 11, 2021 8:30 AM ET Company Participants Juan Avendano – Vice President-Investor Relations John Stark – Chief Executive Officer Claudia Drayton – Chief Financial Officer Conference Call Participants Kyle Mikson – Canaccord Genuity Operator Hello, and welcome to the Quantum-Si Q3 2021 Earnings Call. My name is Boben [ph] and I will be coordinating your call today. [Operator Instructions] I will now hand you over to your host, Juan ...

Quantum-Si incorporated (NASDAQ:QSI) Q2 2021 Earnings Conference Call August 16, 2021 4:30 PM ET Company Participants Mike Cavanaugh – Investor Relations John Stark – Chief Executive Officer Claudia Drayton – Chief Financial Officer Conference Call Participants Kyle Mikson – Canaccord Genuity Operator Hello and thank you for standing by and welcome to the Quantum-Si Second Quarter 2021 Earnings Call. All lines will be muted during the presentation portion of the call with an opportunity for questions and an ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39292 QUANTUM-SI INCORPORATED (Exact name of registrant as specified in its charter) Delaware 85-1388175 (State or other jurisdi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39486 HIGHCAPE CAPITAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) Delaware 85-1388175 (State or other ju ...