Quantum-Si Q3 revenue falls on Proteus transition; lowers expense outlook

Overview

• US proteomics tech firm's Q3 revenue fell sharply yr/yr amid transition to new Proteus platform

• Net loss narrowed in Q3 as operating expenses declined from prior year

• Company reaffirmed 2026 revenue guidance, lowered adjusted operating expense and cash usage outlook

Outlook

• Quantum-Si sees 2026 revenue at approximately $1.0 mln

• Company lowers 2026 adjusted total operating expense guidance to $87.0 mln or less

• Quantum-Si cuts 2026 total cash usage forecast to $87.0 mln or less

Result Drivers

• PLATFORM TRANSITION - Revenue fell to $212,000 from $552,000 as lower Platinum demand and customer anticipation of Proteus weighed on sales

• COST REDUCTION ACTIONS - Co completed workforce reduction and other cost controls to align expenses with Proteus development timeline

Company press release: ID:nGNX8Rwb4W

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Quantum-Si Inc is $1.90, about 47.3% above its November 4 closing price of $1.29

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)