Quantum-Si Shares Rise Despite Disappointing Q4 Financial Results

Quantum-Si Inc. (NASDAQ: QSI) released its fourth-quarter earnings report following the market close on Monday. Here are the significant points from their latest financial results.

Financial Overview: Quantum-Si reported a loss of 23 cents per share for the quarter, which was worse than the anticipated loss of 19 cents per share from analysts. The company's quarterly revenue was $1.19 million, falling short of the consensus estimate of $1.23 million, although this marks an improvement compared to revenue of $400,000 in the same quarter last year.

Quarterly Highlights: Despite the mixed financial results, CEO Jeff Hawkins expressed satisfaction with the company's performance: "I am very pleased with how we closed out 2024, delivering our first quarter in excess of $1 million in revenue, the launch of our version 2 Library Preparation Kit and our new Barcoding Kit. We also had a very successful investor and analyst day where we showcased our technology roadmap and announced our next generation Proteus development program and related commercial and development partnerships." This statement highlights several advancements in the company's offerings, emphasizing their commitment to innovation.

Stock Movement: Following the earnings announcement, Quantum-Si shares saw a rise of 3.83% during after-hours trading, bringing the stock price to $1.35.

Image: Courtesy of Quantum-Si, Inc.

Quantum-Si, Earnings, Stock