QSINasdaqMeasuring & Controlling Devices, NECUS GAAP · USD

Quantum-Si Inc

Quantum-Si Inc. is a U.S.-based life sciences instrumentation company focused on proteomics research through its Next-Gen Protein Sequencing platform. The company develops and commercializes the Platinum instrument family, consumables, software workflows, and related services for research laboratories and other scientific users.

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Revenue2.4m USD
−20.3 %y/y
Operating profit (EBIT)-116m USD
−6.9 %y/y
EBIT margin-4,766.0%
−1,215.4 ppy/y
Net income-101m USD
−0.3 %y/y
Free cash flow-97.2m USD
−5.3 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-150-100-50050m USD2020: EBIT -37 m USD20202021: 0.00 m USD2021: EBIT -97 m USD20212022: 0.00 m USD2022: EBIT -124 m USD20222023: 1.1 m USD2023: EBIT -111 m USD20232024: 3.1 m USD2024: EBIT -109 m USD20242025: 2.4 m USD2025: EBIT -116 m USD20252.4-116
RevenueOperating profit (EBIT)

Business

Share of revenue
Instruments45 %

Benchtop proteomics sequencing instruments sold under the Platinum line, including Platinum Pro.

Consumables40 %

Library prep kits, barcoding kits, sequencing kits, reagents, chips, and related disposables.

Software and workflows5 %

Analysis software and computational workflows used to interpret proteomic data.

Services10 %

Maintenance contracts, advanced training, and customer support services.

Products

Reported · share of revenue
93.8%FY2025100 %
  • Products93.8 %
  • Services6.2 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Quantum-Si sells to scientific users that need protein analysis tools for research and applied workflows. Its customer base includes academic researchers, biopharma companies, CDMOs, government labs, and industrial users that buy instruments, consumables, and support services to generate proteomic data.

Academic research

Universities and research institutes buy instruments and kits to study proteins and validate proteomics methods.

Biopharma

Drug discovery and development teams use the platform for protein characterization and translational research.

CDMOs

Contract development and manufacturing organizations use the system for quality control testing and applied workflows.

Government and industrial

Public-sector and industrial labs buy systems for research, assay development, and specialized protein analysis.

Strategy

Quantum-Si is focused on commercializing its proteomics platform by expanding sales coverage, generating scientific evidence, and adding product generations. It is also building partnerships and technical support capabilities to improve adoption across research and applied markets.

Commercialize the Platinum platformShort term

Instrument placement and consumable pull-through are central to building a recurring proteomics business.

Expand product roadmapMedium term

New instruments, kits, and software increase application breadth and customer retention.

Build scientific validationMedium term

Proteomics adoption depends on published evidence and KOL support for the platform's utility.

Protect intellectual propertyLong term

Patent coverage helps defend the platform and reduce fast-follower risk.

Geography

Q1/2026

Quantum-Si is headquartered in the United States and sells directly there, while Europe is served through a mix of direct and distributor channels. The company also uses distributors in selected markets across Europe, the Middle East, Africa, Asia Pacific, and South America, which broadens reach but adds reliance on partners.

United States73 %
Other countries (US filing)27 %

Share of the revenue the company reports by geography.

Risks

Quantum-Si faces the typical risks of an early-stage life sciences tools company: adoption uncertainty, limited operating history, and dependence on continued funding. Its business also depends on successful commercialization, partner execution, and maintaining intellectual property around a technically differentiated platform.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Commercialization risk1Funding and liquidity risk2Intellectual property risk3Limited operating history4Partner/channel execution risk5AI and machine learning compliance risk6
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Commercialization riskImpact: HighLikelihood: High

    Revenue depends on convincing researchers and labs to adopt a new proteomics platform.

    ExposurePlatinum instrumentsConsumablesSoftware
  2. Funding and liquidity riskImpact: HighLikelihood: High

    The company has historically negative cash flow and may need debt or equity financing to support operations.

    ExposureR&DInventory buildSales expansion
  3. Intellectual property riskImpact: HighLikelihood: Medium

    The platform relies on patents and licensed IP; loss of protection could weaken differentiation.

    Exposure: Proteomics detection platform and related workflows

  4. Limited operating historyImpact: MediumLikelihood: High

    The company has not yet established a long track record of scaled commercialization.

    ExposureForecastingCustomer adoptionChannel buildout
  5. Partner/channel execution riskImpact: MediumLikelihood: Medium

    International growth depends partly on distributors and third-party sales partners.

    ExposureEuropeMiddle EastAfricaAPACSouth America
  6. AI and machine learning compliance riskImpact: LowLikelihood: Low

    Use of AI/ML in internal functions may create regulatory and legal exposure.

    Exposure: General and administrative and R&D processes

Accounting

Judgemental items
Revenue recognition by product and service type

Instrument, consumable, freight, and service revenue may be recognized at different times, affecting quarterly comparability.

Impact: Reported revenue mix and timing

Inventory valuation and write-offs

Commercialization of a new platform can create excess or obsolete inventory risk.

Impact: Cost of revenue and gross profit

Warranty and service obligations

Instrument support and replacement costs require estimates that can change as installed base grows.

Impact: Operating expenses and cost of revenue

Royalty and licensed IP payments

Annual minimum payments and sales-based royalties affect margins and cash outflows.

Impact: Cost structure and liquidity

Fair value estimates for investments

Marketable securities and other financial assets require valuation judgments.

Impact: Balance sheet and other income/expense

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Last updated: 24/09/2026