Here are the 10-Q quarterly reports from Quantum-Si Incorporated (QSI) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow QSI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full QSI filings page.
Quantum-Si (QSI) reported third-quarter 2026 revenue of $212,000, down 61.6%; nine-month revenue was $814,000, down 59.0%. Net loss was $22.316 million and $67.521 million for those periods, versus $35.703 million and $83.728 million a year earlier. Lower instrument and consumables sales, as customers deferred purchases ahead of Proteus, primarily drove revenue declines; Proteus launch is estimated for the second quarter of 2027. Cash, cash equivalents and marketable securities were $149.4 million as of September 30, 2026; management believes these resources plus product and service revenue can fund operations for at least the next 12 months from issuance.
In August, Quantum-Si terminated approximately 20% of its 152 employee workforce in a restructuring, recognizing approximately $2.6 million in cash severance and other benefits and $0.1 million of noncash stock-option modification expense; completion is expected by the end of the fourth quarter of 2026. On October 30, Quantum-Si and Sterling City Science South Development, LLC mutually terminated an uncommenced San Diego lease, releasing approximately $38.3 million in aggregate minimum cash payments. The landlord is required to pay approximately $1.3 million and facilitate return and cancellation of an approximately $2.1 million letter of credit. The termination is a nonrecognized subsequent event; the company expects no material impact on operating results.
Quantum-Si Incorporated reported continued operating losses while revenue declined sharply as customers deferred purchases ahead of the planned launch of its next-generation Proteus platform. Total revenue was $344 thousand for the quarter and $602 thousand for the first half of 2026, down 41.8% and 58.0% from 2025, driven by lower instrument and consumables sales.
The company recorded a net loss of $23.5 million for the quarter and $45.2 million year-to-date, modestly improved from prior-year periods as selling, general and administrative expenses fell 17.5% for the first half. Research and development spending increased to $30.3 million year-to-date as work on Proteus accelerated. Cash, cash equivalents and marketable securities totaled $169.9 million as of June 30, 2026, and management expects these resources to fund operations for at least 12 months. Subsequent events include a Nasdaq minimum bid price deficiency notice and a restructuring program reducing the workforce by about 20%, with expected cash charges of $2.6 million in the second half of 2026.
Quantum-Si Incorporated reported Q1 2026 results showing sharply lower revenue and continued investment in proteomics R&D. Total revenue was $258 thousand, down 69.4% from $842 thousand a year earlier, mainly because customers delayed instrument and consumable purchases ahead of the anticipated Proteus platform launch by the end of 2026.
Gross profit fell to $74 thousand and gross margin declined to 28.7% from 57.7% as product mix and lower volumes weighed on profitability. Research and development expenses rose 5.6% to $14.5 million, reflecting higher lab supplies, payroll and outsourced work to advance Proteus, while selling, general and administrative costs fell 18.9% to $9.6 million due to lower legal, payroll and marketing spend.
The company recorded a net loss of $21.7 million, compared with a $19.2 million net loss in Q1 2025, and used $25.6 million in operating cash. As of March 31, 2026, Quantum-Si held $190.4 million of cash, cash equivalents and marketable securities, which management believes is sufficient to fund planned operations for at least the next twelve months.
Quantum-Si (QSI) reported Q3 2025 results with total revenue of $552 thousand, gross profit of $194 thousand, and a net loss of $35.7 million ($0.17 per share). Operating expenses included a $13.6 million lease termination expense and $1.8 million legal settlement expense (net of insurance), which weighed on results.
The company ended the quarter with $230.5 million in cash, cash equivalents and marketable securities. During 2025 it completed two registered direct offerings—$50.0 million gross each in January and July—resulting in net proceeds recorded of approximately $46.8 million and $46.7 million, respectively; July included pre-funded warrants exercised in full. A new $100.0 million at-the-market program with Leerink was established on September 26, 2025, with no sales during the quarter.
Other items: interest and dividend income was $2.6 million, and a $1.5 million gain from changes in warrant liabilities partially offset the operating loss. Class A shares outstanding were 195,520,747 as of September 30, 2025; Class B shares were 19,937,500. Management believes current liquidity will fund planned operations for at least twelve months.
Quantum-Si Incorporated — Condensed Q2 2025 summary
For the six months ended June 30, 2025, total revenue was $1.433 million versus $1.079 million in H1 2024, with gross profit of $0.837 million. Net loss for the six months was $48.0 million (basic and diluted loss per share $0.26); loss for the three months ended June 30, 2025 was $28.8 million (loss per share $0.16). Operating expense drivers: R&D $28.93 million and SG&A $23.78 million for H1 2025.
Balance sheet and liquidity: cash and cash equivalents $22.188 million, marketable securities $192.023 million (total liquid assets ~$214.2 million). Net cash used in operating activities for H1 2025 was $46.351 million. The Company completed a January 3, 2025 registered direct offering (gross $50.0 million; net proceeds ~$46.8 million) and management expects current liquidity to fund operations for at least 12 months from issuance date. Material items: accrued legal settlement liability $8.0 million and related insurance receivable $4.638 million recorded as of June 30, 2025; warrant liabilities fair value declined to $2.6 million from $5.0 million at year-end 2024. Accumulated deficit as of June 30, 2025 was $644.7 million.