Quantum - Si - CW27 | 10-Q: FY2026 Q1 Revenue: USD 258 K

Revenue: As of FY2026 Q1, the actual value is USD 258 K.

EPS: As of FY2026 Q1, the actual value is USD -0.1.

EBIT: As of FY2026 Q1, the actual value is USD -25.8 M.

Segment Revenue

• Total Revenue: For the three months ended March 31, 2026, total revenue was $258 thousand, representing a -69.4% decrease compared to $842 thousand for the same period in 2025 .
• Revenue by Type:
  • Product Revenue: Decreased by -73.3% to $216 thousand for the three months ended March 31, 2026, from $808 thousand for the same period in 2025 .
  • Service Revenue: Increased by 23.5% to $42 thousand for the three months ended March 31, 2026, from $34 thousand for the same period in 2025 .
• Revenue by Geography:
  • Domestic Revenue: Increased to $188 thousand for the three months ended March 31, 2026, from $123 thousand for the same period in 2025 .
  • International Revenue: Decreased to $70 thousand for the three months ended March 31, 2026, from $719 thousand for the same period in 2025 .

Operational Metrics

• Cost of Revenue:
  • Total Cost of Revenue: Decreased by -48.3% to $184 thousand for the three months ended March 31, 2026, from $356 thousand for the same period in 2025 .
  • Product Cost of Revenue: Decreased by -47.5% to $177 thousand for the three months ended March 31, 2026, from $337 thousand for the same period in 2025 .
  • Service Cost of Revenue: Decreased by -63.2% to $7 thousand for the three months ended March 31, 2026, from $19 thousand for the same period in 2025 .
• Gross Profit and Margin:
  • Gross Profit: Decreased by -84.8% to $74 thousand for the three months ended March 31, 2026, from $486 thousand for the same period in 2025 .
  • Gross Profit Margin: Was 28.7% for the three months ended March 31, 2026, compared to 57.7% for the same period in 2025 .
• Operating Expenses:
  • Research and Development Expenses: Increased by 5.6% to $14,487 thousand for the three months ended March 31, 2026, from $13,717 thousand for the same period in 2025 .
  • Selling, General and Administrative Expenses: Decreased by -18.9% to $9,640 thousand for the three months ended March 31, 2026, from $11,881 thousand for the same period in 2025 .
• Loss from Operations: Was - $24,053 thousand for the three months ended March 31, 2026, compared to - $25,112 thousand for the same period in 2025 .
• Net Loss: Was - $21,671 thousand for the three months ended March 31, 2026, compared to - $19,189 thousand for the same period in 2025 .

Cash Flow

• Net Cash Used in Operating Activities: Was - $25,638 thousand for the three months ended March 31, 2026, compared to - $26,154 thousand for the same period in 2025 .
• Net Cash Provided by (Used in) Investing Activities: Was $40,271 thousand for the three months ended March 31, 2026, compared to - $34,174 thousand for the same period in 2025 .
• Net Cash Provided by Financing Activities: Was $0 thousand for the three months ended March 31, 2026, compared to $48,374 thousand for the same period in 2025 .

Unique Metrics and Strategic Outlook

• Product Development and Strategy: Quantum-Si is focused on proteomics research, aiming to transform single-molecule analysis through its proprietary next-gen protein sequencing (NGPS) platform, which includes the Platinum® NGPS line, Platinum Analysis Software, and consumable kits . The company fully commercially launched Platinum in Q2 2024 and Platinum Pro in January 2025, with a next-generation platform, Proteus™, anticipated to launch by the end of 2026, offering enhanced resolution, sequencing output, sample throughput, and automated data analysis .
• Future Outlook and Liquidity: The anticipated launch of Proteus is expected to cause some customers to delay purchasing existing products, which will adversely impact revenue until Proteus becomes commercially available . Quantum-Si believes its existing cash, cash equivalents, and marketable securities, along with revenue, will fund operations for at least the next 12 months, though negative operating cash flows are expected to continue until revenue growth scales . The company forecasts capital expenditures of approximately $5.0 million for the year ended December 31, 2026, to be funded by cash and financing .