Quantum-Si Incorporated Financials
Quantum-Si Incorporated (QSI) reported $1.6M in revenue over the twelve months to Jun 30, 2026, down 53.0% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Development spending remains the dominant mechanic: early revenue is too small to absorb a largely fixed operating cost base.
Revenue contracted20.3% in FY2025 while gross margin narrowed to47.3% , so the commercial base weakened rather than providing more support for development costs. Even with lower R&D and SG&A, the operating loss reached$116.1M , indicating that cost reductions have not yet offset the loss of scale.
R&D was
The balance sheet is lightly debt-funded: debt-to-equity was 0.1x in FY2025. Liabilities of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Quantum-Si Incorporated's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Quantum-Si Incorporated, and counted as zero in the overall score.
Quantum-Si Incorporated scores -0.75, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($170.7M) relative to total liabilities ($25.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Quantum-Si Incorporated passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Quantum-Si Incorporated reported a net loss of $101.3M while operations used $94.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Quantum-Si Incorporated generated $2.4M in revenue in fiscal year 2025. This represents a decrease of 20.3% from the prior year.
Quantum-Si Incorporated's EBITDA was -$111.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 7.4% from the prior year.
Quantum-Si Incorporated reported -$101.3M in net income in fiscal year 2025. This represents a decrease of 0.3% from the prior year.
Quantum-Si Incorporated earned -$0.51 per diluted share (EPS) in fiscal year 2025. This represents an increase of 28.2% from the prior year.
Cash & Balance Sheet
Quantum-Si Incorporated recorded an outflow of $97.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 5.3% from the prior year.
Quantum-Si Incorporated held $21.6M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Quantum-Si Incorporated's gross margin was 47.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.0 percentage points from the prior year.
Quantum-Si Incorporated's ROE was -46.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.9 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Quantum-Si Incorporated invested $53.8M in research and development in fiscal year 2025. This represents a decrease of 9.9% from the prior year.
Quantum-Si Incorporated invested $2.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 45.1% from the prior year.
Not reported for fiscal year 2025.
QSI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $344K+33.3% | $258K-42.8% | $451K-18.3% | $552K-6.6% | $591K-29.8% | $842K-29.4% | $1.2M+51.5% | $787K |
| Cost of Revenue | $172K-6.5% | $184K-44.1% | $329K-8.1% | $358K+49.2% | $240K-32.6% | $356K-38.8% | $582K+38.6% | $420K |
| Gross Profit | $172K+132.4% | $74K-39.3% | $122K-37.1% | $194K-44.7% | $351K-27.8% | $486K-20.3% | $610K+66.2% | $367K |
| R&D Expenses | $15.8M+9.2% | $14.5M+32.3% | $10.9M-21.2% | $13.9M-8.7% | $15.2M+10.9% | $13.7M-19.3% | $17.0M+5.1% | $16.2M |
| SG&A Expenses | $10.0M+3.5% | $9.6M-6.1% | $10.3M-4.1% | $10.7M-10.0% | $11.9M+0.1% | $11.9M-16.9% | $14.3M+16.4% | $12.3M |
| Operating Income | -$25.6M-6.6% | -$24.1M-14.0% | -$21.1M+47.0% | -$39.8M-32.0% | -$30.1M-19.9% | -$25.1M+18.1% | -$30.7M-9.2% | -$28.1M |
| Income Tax | $0+100.0% | -$122K-1625.0% | $8K-57.9% | $19K-5.0% | $20K+81.8% | $11K-15.4% | $13K-69.8% | $43K |
| Net Income | -$23.5M-8.6% | -$21.7M-23.1% | -$17.6M+50.7% | -$35.7M-23.8% | -$28.8M-50.3% | -$19.2M+42.1% | -$33.1M-30.8% | -$25.3M |
| EPS (Diluted) | -$0.11-10.0% | -$0.10-42.9% | -$0.07+58.8% | -$0.17-6.3% | -$0.16-45.5% | -$0.11+52.2% | -$0.23-27.8% | -$0.18 |
Not reported in any period shown, so not listed: Interest Expense.
QSI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $193.6M-9.3% | $213.3M-13.1% | $245.6M-5.6% | $260.1M+2.2% | $254.4M-6.2% | $271.2M+9.4% | $247.9M+4.8% | $236.5M |
| Current Assets | $119.1M-11.8% | $135.0M-23.3% | $175.9M-26.1% | $238.0M+5.1% | $226.5M-6.3% | $241.8M+10.9% | $218.0M+5.9% | $205.8M |
| Cash & Equivalents | $23.7M-34.7% | $36.2M+67.3% | $21.6M-30.0% | $30.9M+39.3% | $22.2M-40.5% | $37.3M-24.3% | $49.2M+16.5% | $42.3M |
| Inventory | $2.0M-7.5% | $2.2M-31.5% | $3.2M-9.0% | $3.5M-10.0% | $3.9M-11.8% | $4.4M+8.8% | $4.1M-0.6% | $4.1M |
| Accounts Receivable | $57K-71.9% | $203K-63.8% | $561K-25.7% | $755K-17.7% | $917K-11.1% | $1.0M-22.6% | $1.3M+30.4% | $1.0M |
| Total Liabilities | $13.4M+6.1% | $12.6M-50.3% | $25.4M+1.7% | $25.0M-25.3% | $33.4M+37.5% | $24.3M-25.1% | $32.5M+25.1% | $25.9M |
| Current Liabilities | $11.9M+11.6% | $10.7M-53.5% | $23.0M+4.0% | $22.1M-7.8% | $24.0M+91.1% | $12.6M-30.9% | $18.2M+18.5% | $15.3M |
| Total Equity | $180.2M-10.2% | $200.7M-8.8% | $220.2M-6.4% | $235.2M+6.4% | $221.0M-10.5% | $246.9M+14.6% | $215.4M+2.3% | $210.5M |
| Retained Earnings | -$743.2M-3.3% | -$719.7M-3.1% | -$698.0M-2.6% | -$680.4M-5.5% | -$644.7M-4.7% | -$615.8M-3.2% | -$596.6M-5.9% | -$563.5M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
QSI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$18.4M+28.1% | -$25.6M-56.8% | -$16.3M+48.9% | -$32.0M-58.5% | -$20.2M+22.8% | -$26.2M-14.3% | -$22.9M+1.2% | -$23.2M |
| Capital Expenditures | $78K-72.0% | $279K+1541.2% | -$17K-98.1% | $900K+175.2% | $327K-75.0% | $1.3M-8.9% | $1.4M+47.2% | $975K |
| Free Cash Flow | -$18.5M+28.5% | -$25.9M-58.4% | -$16.4M+50.3% | -$32.9M-60.4% | -$20.5M+25.3% | -$27.5M-12.9% | -$24.3M-0.8% | -$24.1M |
| Investing Cash Flow | $8.1M-79.8% | $40.3M+473.3% | $7.0M+213.2% | -$6.2M-223.2% | $5.0M+114.7% | -$34.2M-476.8% | -$5.9M-200.9% | $5.9M |
| Financing Cash Flow | $0 | $0-100.0% | $54K-99.9% | $47.0M+114422.0% | $41K-99.9% | $48.4M+35.1% | $35.8M+1789600.0% | $2K |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
QSI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.0%+21.3pp | 28.7%+1.6pp | 27.1%-8.1pp | 35.1%-24.3pp | 59.4%+1.7pp | 57.7%+6.6pp | 51.2%+4.5pp | 46.6% |
| Operating Margin | -7450.3% | -9322.9% | -4677.2% | -7205.2% | -5096.4% | -2982.4% | -2573.6% | -3569.0% |
| Net Margin | -6841.3% | -8399.6% | -3904.9% | -6467.9% | -4879.2% | -2279.0% | -2778.6% | -3216.4% |
| Return on Equity | -13.1%-2.3pp | -10.8%-2.8pp | -8.0%+7.2pp | -15.2%-2.1pp | -13.1%-5.3pp | -7.8%+7.6pp | -15.4%-3.4pp | -12.0% |
| Return on Assets | -12.2%-2.0pp | -10.2%-3.0pp | -7.2%+6.6pp | -13.7%-2.4pp | -11.3%-4.3pp | -7.1%+6.3pp | -13.4%-2.6pp | -10.7% |
| Current Ratio | 9.97-2.6x | 12.60+5.0x | 7.64-3.1x | 10.75+1.3x | 9.43-9.8x | 19.24+7.3x | 11.99-1.4x | 13.42 |
| Debt-to-Equity | 0.070.0x | 0.06-0.1x | 0.120.0x | 0.110.0x | 0.15+0.1x | 0.10-0.1x | 0.150.0x | 0.12 |
| FCF Margin | -5384.3% | -10045.4% | -3628.4% | -5963.6% | -3472.8% | -3261.4% | -2039.9% | -3065.8% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Quantum-Si Incorporated Ranks
Frequently Asked Questions
What is Quantum-Si Incorporated's annual revenue?
Quantum-Si Incorporated (QSI) reported $2.4M in total revenue for fiscal year 2025. This represents a -20.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Quantum-Si Incorporated's revenue growing?
Quantum-Si Incorporated (QSI) revenue declined by 20.3% year-over-year, from $3.1M to $2.4M in fiscal year 2025.
Is Quantum-Si Incorporated profitable?
No, Quantum-Si Incorporated (QSI) reported a net income of -$101.3M in fiscal year 2025.
What is Quantum-Si Incorporated's EBITDA?
Quantum-Si Incorporated (QSI) had EBITDA of -$111.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Quantum-Si Incorporated's gross margin?
Quantum-Si Incorporated (QSI) had a gross margin of 47.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Quantum-Si Incorporated's return on equity (ROE)?
Quantum-Si Incorporated (QSI) has a return on equity of -46.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Quantum-Si Incorporated's free cash flow?
Quantum-Si Incorporated (QSI) recorded an outflow of $97.2M in free cash flow during fiscal year 2025. This represents a -5.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Quantum-Si Incorporated's operating cash flow?
Quantum-Si Incorporated (QSI) recorded an outflow of $94.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Quantum-Si Incorporated's total assets?
Quantum-Si Incorporated (QSI) had $245.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Quantum-Si Incorporated's capital expenditures?
Quantum-Si Incorporated (QSI) invested $2.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Quantum-Si Incorporated spend on research and development?
Quantum-Si Incorporated (QSI) invested $53.8M in research and development during fiscal year 2025.
What is Quantum-Si Incorporated's current ratio?
Quantum-Si Incorporated (QSI) had a current ratio of 7.64 as of fiscal year 2025, which is generally considered healthy.
What is Quantum-Si Incorporated's debt-to-equity ratio?
Quantum-Si Incorporated (QSI) had a debt-to-equity ratio of 0.12 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Quantum-Si Incorporated's return on assets (ROA)?
Quantum-Si Incorporated (QSI) had a return on assets of -41.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does Quantum-Si Incorporated's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Quantum-Si Incorporated (QSI) held $215.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $94.7M over that year. Dividing the one by the other, the reported balance equals about 27 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Quantum-Si Incorporated's Altman Z-Score?
Quantum-Si Incorporated (QSI) has an Altman Z-Score of -0.75, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Quantum-Si Incorporated's Piotroski F-Score?
Quantum-Si Incorporated (QSI) has a Piotroski F-Score of 1 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Quantum-Si Incorporated's earnings high quality?
Quantum-Si Incorporated (QSI) reported a net loss of $101.3M while operations used $94.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Quantum-Si Incorporated?
Quantum-Si Incorporated (QSI) scores 59 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.