Quantum-Si incorporated
- Open
- 0.78
- Day high
- 0.78
- Day low
- 0.76
- Prev close
- 0.78
- Volume
- 1.1M
- Mkt cap
- $168M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.9
- P/S
- 104.5
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$64K over the last 3 months (0 open-market buys, 7 sales)
- 🏛Institutions mixed (13F)
Quantum-Si incorporated (QSI) is a Healthcare company listed on NASDAQ. The stock is down 29% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 7 sales (SEC Form 4). Drillr has 1 published research article covering QSI.
Quantum-Si incorporated (QSI) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
QSI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 13, 2026 | $-0.11 | $-0.11 | +2.9% | $344000 | +13.9% |
| May 7, 2026 | $-0.12 | $-0.10 | +16.7% | $258000 | -13.6% |
| Mar 3, 2026 | $-0.14 | $-0.08 | +42.9% | $451000 | -54.4% |
| Nov 5, 2025 | $-0.12 | $-0.17 | -41.7% | $552000 | -7.9% |
| May 15, 2025 | $-0.17 | $-0.11 | +35.3% | $842000 | -47.7% |
| Mar 3, 2025 | $-0.18 | $-0.18 | +0.0% | $1M | -6.1% |
| May 9, 2024 | $-0.23 | $-0.14 | +39.1% | $457000 | +6.3% |
| Feb 29, 2024 | $-0.16 | $-0.16 | +0.0% | $400000 | +33.3% |
| Nov 9, 2023 | $-0.19 | $-0.15 | +21.1% | $223000 | -25.7% |
| May 11, 2023 | $-0.19 | $-0.17 | +10.5% | $254000 | -76.9% |
| Mar 6, 2023 | $-0.20 | $-0.17 | +15.0% | — | — |
| Feb 28, 2022 | $-0.17 | $-0.21 | -23.5% | — | — |
QSI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 24, 2026 | Hawkins Jeffrey Alandirector, officer: President & CEO | Sell | 11,311 | $0.90 |
| Jun 24, 2026 | LaPointe Christianofficer: GC & Corp. Secretary | Sell | 7,794 | $0.96 |
| Jun 24, 2026 | Keyes Jeffry R.officer: Chief Financial Officer | Sell | 4,116 | $0.96 |
| Jun 24, 2026 | Keyes Jeffry R.officer: Chief Financial Officer | Sell | 4,117 | $0.90 |
| Jun 24, 2026 | Vieceli John S.officer: Chief Product Officer | Sell | 15,111 | $0.96 |
| Jun 24, 2026 | Vieceli John S.officer: Chief Product Officer | Sell | 15,112 | $0.90 |
| Jun 24, 2026 | Hawkins Jeffrey Alandirector, officer: President & CEO | Sell | 11,310 | $0.96 |
| May 20, 2026 | Jafri Amirdirector | Grant | 251,185 | $0.85 |
| May 20, 2026 | Kenny John P.director | Grant | 251,185 | $0.85 |
| May 20, 2026 | RAKIN KEVINdirector | Grant | 251,185 | $0.85 |
| May 20, 2026 | Mendel Scottdirector | Grant | 251,185 | $0.85 |
| May 20, 2026 | ROTHBERG JONATHAN Mdirector, 10 percent owner: | Grant | 251,185 | $0.85 |
| May 20, 2026 | Kummeth Charles R.director | Grant | 251,185 | $0.85 |
| May 20, 2026 | Makes Brigiddirector | Grant | 251,185 | $0.85 |
| May 20, 2026 | Fattori Ruth Adirector | Grant | 251,185 | $0.85 |
Source: QSI SEC Form 4 filings, latest Jun 24, 2026. For informational purposes only — not investment advice.
See the full QSI insider & 13F page →Quantum-Si incorporated company profile
Overview
Quantum-Si Incorporated (NASDAQ:QSI) is a biotechnology company founded in 2013 and headquartered in Guilford, Connecticut. The company went public in November 2020 through a SPAC merger. Quantum-Si has developed what it claims to be the world's first single-molecule protein sequencing platform, representing a breakthrough in proteomics research. The company transitioned from a pre-revenue research and development stage to commercial operations in late 2022 with the launch of its flagship Platinum protein sequencing system. As of 2025, Quantum-Si is in the early stages of commercializing its technology across academic, biotechnology, and pharmaceutical markets globally.
Business
Quantum-Si operates in the life sciences instrumentation sector, specifically focusing on proteomics - the large-scale study of proteins. The company has developed proprietary technology for single-molecule protein sequencing, which represents a significant advancement over traditional protein analysis methods. The company's core offering is the Platinum protein sequencing platform, which can identify and sequence individual protein molecules. Traditional protein analysis methods typically require large quantities of protein samples and cannot provide detailed sequence information at the single-molecule level. Quantum-Si's technology uses semiconductor-based detection to observe individual amino acids (the building blocks of proteins) as they are cleaved from protein molecules, enabling researchers to determine the exact sequence and modifications of proteins. To understand the significance of this technology, it's important to know that while DNA sequencing has been revolutionized over the past decades, protein sequencing has remained largely unchanged since the 1970s. Proteins are the actual functional molecules in cells that carry out biological processes, making their study crucial for drug development, disease research, and understanding biological mechanisms. However, proteins are much more complex than DNA because they can be modified after they're made, exist in different forms, and are present in vastly different quantities. The company's product portfolio includes: 1. The Platinum sequencing system (the main instrument), which represents approximately 60-70% of revenue based on high instrument pricing. 2. Sequencing kits and reagents (consumables used with each experiment), contributing roughly 30-40% of revenue through recurring sales. 3. The newer Platinum Pro system launched in 2024, offering enhanced capabilities. Quantum-Si is also developing Proteus, a next-generation platform expected to launch in the second half of 2026, which aims to provide even greater capabilities for protein analysis.
Revenue model
Quantum-Si operates on a capital equipment plus consumables business model similar to other life sciences instrumentation companies. The company generates revenue through two primary streams: high-value instrument sales and recurring consumables revenue. The instrument sales component involves selling Platinum and Platinum Pro systems, which are priced as premium scientific instruments (likely in the hundreds of thousands of dollars range based on the revenue per unit). These represent the majority of current revenue due to their high unit prices. Customers include academic research institutions, biotechnology companies, pharmaceutical companies, and government research facilities. The consumables revenue comes from sequencing kits, library preparation kits, and other reagents required for each protein sequencing experiment. This creates a recurring revenue stream as customers must purchase new kits for ongoing research. The company has been improving its consumables by reducing cost per amino acid and increasing output per sample, making the technology more economically attractive to users. Quantum-Si's customers are primarily research organizations rather than clinical end-users. The paying customers include university research labs studying protein biology, biotech companies developing protein-based drugs, pharmaceutical companies conducting drug discovery research, and government research institutions. Several factors could positively impact margins: 1. Scale economics as production volumes increase, reducing per-unit manufacturing costs. 2. Higher consumables attachment rates as the installed base grows. 3. Premium pricing for innovative technology in a market with limited competition. 4. International expansion through distribution partners, which can reduce direct sales costs. Factors that could pressure margins include: 1. Competitive pressure as other companies develop similar technologies. 2. Customer price sensitivity, particularly in academic markets facing funding constraints. 3. High R&D costs required to maintain technological leadership. 4. Manufacturing scale-up challenges and quality control costs for complex biotechnology instruments.
Competitive moat
Quantum-Si's competitive moat appears moderate but potentially strengthening, built primarily on technological differentiation and first-mover advantage in single-molecule protein sequencing. The company's primary moat consists of intellectual property and technological complexity. Developing single-molecule protein sequencing technology requires deep expertise in semiconductor physics, biochemistry, and protein chemistry - creating significant barriers to entry. The company has published peer-reviewed research demonstrating its ability to recognize 15 out of 20 amino acids, representing potential coverage of 70% of the human proteome. This technical achievement required years of R&D investment and specialized knowledge. However, the moat faces several challenges. The market is still nascent, and it's unclear whether Quantum-Si's approach will become the dominant standard for protein sequencing. Large, well-funded competitors like Illumina, Thermo Fisher Scientific, or other life sciences giants could potentially develop competing technologies with greater resources. Additionally, the company's technology currently has limitations - it cannot yet sequence all 20 amino acids, and the applications are still primarily research-focused rather than clinical. The network effects are limited since each instrument operates independently, though there could be some benefit from building a community of users who share protocols and applications. The company is working to strengthen its position through continued innovation (developing the Proteus platform), expanding its distribution network (23 international partners), and building scientific credibility through publications and partnerships. The competitive threat could come from both established life sciences companies with greater resources and other startups working on alternative protein analysis approaches. The ultimate strength of Quantum-Si's moat will depend on its ability to maintain technological leadership, expand applications, and build a sustainable installed base before competitors catch up.
Risks & safety
The margin of safety appears adequate in the near term but with significant execution risk given the company's early-stage commercial status and cash burn rate. **Cash Position and Solvency:** - Strong cash position: $37.3 million in cash plus $232.6 million total current assets as of Q1 2025 - Manageable debt: Debt-to-equity ratio of only 4.9% - High current ratio of 19.2x indicates strong liquidity - Management projects cash runway into second half of 2027 - Quarterly cash burn of approximately $27 million (free cash flow of -$27.5 million in Q1 2025) **Valuation Metrics:** - Trading below book value: Price-to-book ratio of 0.89x - Graham net-net ratio of 1.16x suggests potential asset-based value - Negative earnings make P/E ratios meaningless - EV/EBITDA not meaningful due to negative EBITDA **Other Considerations:** - Pre-profitability with significant ongoing losses ($19.2 million net loss in Q1 2025) - Revenue growth trajectory is positive but from a very small base ($842K quarterly revenue) - High execution risk as commercial success is not yet proven - Dependence on continued R&D investment to maintain competitive position
Recent development
Over the past few years, Quantum-Si has undergone a significant transformation from a pure research and development company to a commercial-stage business. The most critical milestone was the commercial launch of the Platinum protein sequencing system in December 2022, marking the company's transition from pre-revenue to revenue-generating status. The company has focused on three strategic priorities: accelerating commercial adoption, delivering on its innovation roadmap, and preserving financial strength. On the commercial front, Quantum-Si has built a direct sales team of approximately 30 personnel and established 23 international distribution partnerships, with a notable agreement with Avantor for North American distribution. The company has sold over 50 Platinum instruments and launched the enhanced Platinum Pro system in 2024. Innovation efforts have centered on improving the core technology's performance and reducing costs. The company has released multiple versions of its sequencing kits, with Version 3 achieving a 1.5-fold increase in output per sample and a 1.5-fold reduction in cost per amino acid. Looking ahead, Quantum-Si is developing the Proteus platform, expected to launch in the second half of 2026, which promises significantly enhanced protein sequencing capabilities. The company has also shifted its market focus from primarily academic customers to a more diversified base including biotechnology and pharmaceutical companies. International markets have become increasingly important, with 60% of instrument installations now occurring outside the United States. This geographic diversification helps reduce dependence on U.S. academic funding, which has faced uncertainty. Recent financial moves include raising an additional $50 million in January 2025, extending the company's cash runway and providing resources for continued expansion and R&D investment.
QSI company profile · for informational purposes only — not investment advice.
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