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, 2023 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 (Sta ...

Quantum-Si incorporated (NASDAQ:QSI) Q2 2023 Earnings Conference Call August 7, 2023 8:30 AM ET Company Participants Juan Avendano - Head, Investor Relations Jeff Hawkins - Chief Executive Officer Jeff Keyes - Chief Financial Officer Conference Call Participants Kyle Mikson - Canaccord Genuity Yuan Zhi - B. Riley Swayampakula Ramakanth - H.C. Wainwright Operator Ladies and gentlemen, thank you for standing by. Welcome to the Quantum-Si Second Quarter 2023 Earnings Call. [Operator Instructions] Please be ad ...

Financial Data and Key Metrics Changes - Revenue for Q1 2023 was $254,000, marking the first revenue recognized from the sale of Platinum instruments and kits, slightly above internal plans [25][35] - Gross profit for Q1 2023 was $124,000, resulting in a gross margin of 48.8%, driven primarily by the Platinum instrument product mix [35][36] - Operating expenses increased to $29.3 million in Q1 2023 from $27.1 million in Q1 2022, mainly due to higher selling, general, and administrative expenses [36] - Net loss for Q1 2023 was $23.6 million, an improvement from a net loss of $35.2 million in Q1 2022 [37] - Adjusted EBITDA for Q1 2023 was a loss of $23.7 million, compared to a loss of $27.4 million in Q1 2022 [37] - As of March 31, 2023, the company had $322.1 million in cash and cash equivalents and investments in marketable securities [37] Business Line Data and Key Metrics Changes - Customer orders in Q1 2023 totaled $449,000, slightly above internal plans, with a delay in shipping two international orders affecting revenue recognition [25][36] - The sales funnel is developing positively, with a mix of academic research centers, biotech, pharma, industrial, and government customers showing interest [5][46] Market Data and Key Metrics Changes - The advanced sales funnel consists of approximately 60% U.S. customers and 40% European customers, indicating strong interest from European markets [4] - The company is seeing significant interest in proteoform and post-translational modification (PTM) analysis, protein identification, and antibody validation [5][6] Company Strategy and Development Direction - The company aims to commercialize its Platinum, Carbon, and 2M chip products, with a controlled rollout to ensure customer satisfaction [24][34] - Plans to enhance outbound marketing and direct sales efforts to support revenue growth in the second half of the year [9][38] - The company is focused on innovation in protein sequencing and has established strategic partnerships with key opinion leaders [10][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong customer interest and the potential for revenue acceleration in the second half of 2023 [38][42] - The company expects Q2 orders to be similar to Q1, with gross margins anticipated to remain consistent with Q1 levels [15][43] - Management is committed to maintaining fiscal discipline while investing in commercial team expansion and marketing programs [16][36] Other Important Information - A new Chief Financial Officer, Jeff Keyes, will join the company on May 15, 2023, bringing extensive experience in public company management [17] - The Carbon sample prep instrument is on track for beta testing in Q2 2023, with a launch expected in the second half of the year [11] Q&A Session Summary Question: Who are the early buyers of the Platinum system and what are the initial applications? - Early customers are primarily from academic research centers, with interest also growing in pharma, biotech, and industrial applications [46][47] Question: What is the expected revenue guidance for the second half of the year? - The company expects revenue to accelerate in the second half based on business funnel visibility and increased marketing efforts [42][43] Question: How is the pricing strategy for the Platinum system evolving? - The company is monitoring pricing but has not seen significant pressure, maintaining most transactions at or near list pricing [63] Question: What are the early customer experiences with the Platinum system? - Early customer feedback has been positive, with no significant variation in performance compared to internal testing [66][67] Question: How will the Carbon instrument impact the workflow and attach rate? - The Carbon instrument is expected to enhance automation and efficiency, with further data from beta testing to inform its impact on attach rates [69]

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, 2023 (Former name, former address and former fiscal year, if changed since last report) 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 INCORPOR ...

For the fiscal year ended December 31, 2022 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 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 ...

Financial Data and Key Metrics Changes - In Q4 2022, total operating expenses were $38.8 million, up from $27.8 million in Q4 2021, which included a $9.5 million non-cash impairment charge for goodwill from the Majelac acquisition [6] - The net loss for Q4 2022 was $33.1 million compared to a loss of $29.4 million in Q4 2021, with total year net loss at $132.4 million in 2022 versus $95 million in 2021 [60] - Adjusted EBITDA for Q4 2022 was a loss of $24.5 million, compared to a loss of $20.4 million in Q4 2021, with total year adjusted EBITDA at a loss of $100.6 million in 2022 compared to a loss of $64 million in 2021 [61] Business Line Data and Key Metrics Changes - Research and development expenses in Q4 2022 were $18.2 million, up from $14.4 million in Q4 2021, primarily due to higher product development activities and personnel costs [59] - The company successfully launched the Platinum protein sequencing system in December 2022 and began shipping initial orders in January 2023, with customer demand aligning with expectations [3][11] Market Data and Key Metrics Changes - The initial customer interest has been primarily in the academic research market, with customers eager to explore and utilize the new technology [52] - The company is attending industry conferences to increase visibility and support sales efforts, with plans to ramp up outbound marketing activities in the second half of 2023 [57] Company Strategy and Development Direction - The company aims to commercialize the Platinum and Carbon products while maintaining financial strength, projecting that its current cash position can support operations into 2026 [13][46] - The long-term goal is to enable de novo protein sequencing, with a focus on innovation and expanding proteome coverage capabilities [36][48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2023, highlighting the importance of the Platinum launch and the potential for significant advancements in proteomics [7][16] - The company is committed to improving fiscal discipline and has implemented cost rationalization initiatives that resulted in lower-than-expected operating expense increases [27][46] Other Important Information - The company has over 1,000 issued and pending patent applications, indicating a strong focus on innovation and protection of its technology [8] - A partnership with Biovista was announced to integrate AI-driven bioscience tools into the company's cloud analytics, enhancing proteomics research capabilities [4] Q&A Session Summary Question: Current order volume and shipment expectations for Platinum - Management indicated that they are not providing quantitative guidance yet, focusing on measuring implementation timeframes and customer utilization rates [19] Question: Metrics related to the commercial launch of Platinum - Management confirmed that they are tracking placements, utilization rates, and overall revenue as key metrics for the Platinum launch [62] Question: Customer interactions and barriers post-test runs - Management noted that there are no significant barriers holding customers back after test runs, with some customers moving forward with purchases while others seek further validation through proof-of-concept testing [63][64]

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 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 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) (Exact name of registrant as specified in its charter) Delaware 85-1388175 ...

Quantum-Si incorporated (NASDAQ:QSI) Q3 2022 Earnings Conference Call November 7, 2022 4:30 PM ET Company Participants Juan Avendano - Head, Investor Relations Dr. Jonathan Rothberg - Founder and Chairman Jeff Hawkins - Chief Executive Officer Patrick Schneider - President and COO Claudia Drayton - Chief Financial Officer Conference Call Participants Alex Vukasin - Canaccord Genuity Brandon Carney - B. Riley Operator Ladies and gentlemen, thank you for standing by. Welcome to Quantum-Si Third Quarter 2021 E ...

Quantum-Si incorporated (NASDAQ:QSI) Q2 2022 Earnings Conference Call August 8, 2022 4:30 PM ET Company Participants Juan Avendano - Head, Investor Relations Jonathan Rothberg - Interim Chief Executive Officer Patrick Schneider - President and Chief Operating Officer Claudia Drayton - Chief Financial Officer Conference Call Participants Alex Vukasin - Canaccord Operator Ladies and gentlemen, thank you for standing by and welcome to the Quantum-Si Second Quarter 2022 Earnings Call. [Operator Instructions] Pl ...

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)