10-Q · May 7, 2026
Quantum-Si reported Q1 2026 results with a disappointing revenue of $258,000, falling short of the estimated $319,200 due to customers delaying purchases in anticipation of the Proteus launch. The net loss widened to…
Earnings analysis · 10-Q
QSI earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
Q2 revenue of $344 thousand improved 33.3% sequentially but fell 41.8% year over year, while diluted EPS of $(0.11) was unchanged from consensus and modestly worse than Q1. The company maintained its 2026 financial…
Read full summary
Q2 revenue of $344 thousand improved 33.3% sequentially but fell 41.8% year over year, while diluted EPS of $(0.11) was unchanged from consensus and modestly worse than Q1. The company maintained its 2026 financial outlook, but the Proteus launch was pushed to Q2 2027 and a restructuring affecting approximately 20% of employees introduces additional execution and cost risk. A new Nasdaq bid-price deficiency, with a January 19, 2027 compliance deadline, is a material financing and liquidity risk.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.11
What stood out
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Revenue rebounded sequentially
Q2 revenue was $344 thousand, up from $258 thousand in Q1 2026, a sequential increase of approximately 33.3%. Revenue nevertheless declined from $591 thousand in Q2 2025, a year-over-year decrease of approximately 41.8%.
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EPS matched consensus
Diluted EPS was $(0.11), in line with the reported consensus estimate of $(0.11). EPS deteriorated by $0.01 from $(0.10) in Q1 2026 but improved by $0.05 from $(0.16) in Q2 2025.
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Controls remained effective
Management stated that disclosure controls and procedures were effective as of June 30, 2026, and reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, controls during the quarter.
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2026 outlook reiterated
The company reaffirmed 2026 targets of approximately $1.0 million of revenue, adjusted total operating expenses of $98.0 million or less, and total cash usage of $93.0 million or less.
What to watch
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Nasdaq minimum-bid deficiency
Nasdaq notified the company on July 23, 2026 that its Class A shares had closed below the $1.00 minimum bid price for 30 consecutive business days. The initial compliance deadline is January 19, 2027, creating potential delisting and capital-markets risk.
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Proteus launch delayed
Proteus' anticipated commercial launch moved from the end of 2026 to Q2 2027. The filing warns that further delays or delivery without desired customer applications could materially damage long-term financial prospects and market credibility.
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Restructuring creates execution risk
The 2026 Restructuring Program will terminate approximately 20% of the 152-person workforce. Management expects approximately $2.6 million of one-time cash severance and benefit charges plus approximately $0.1 million of non-cash stock-option-modification expense in the second half of 2026.
Management's outlook
The company reiterated 2026 outlook of approximately $1.0 million in revenue, adjusted total operating expenses of $98.0 million or less, and total cash usage of $93.0 million or less. Proteus commercial availability is now expected in Q2 2027; no numeric EPS guidance was provided.
Earlier filings 4
10-K · March 3, 2026
Quantum-Si Incorporated reported a decline in revenues of 20.3% to $2.4 million for the year ended December 31, 2025, with a gross profit margin of 47.3%, down from 52.3% the previous year. The company incurred a net…
10-Q · November 5, 2025
Quantum-Si Incorporated (QSI) reported disappointing Q3 2025 results, falling short of both revenue and earnings expectations. Revenue declined by 29.9% to $552K from $787K year-over-year, and the company recorded an…
10-Q · August 5, 2025
Quantum-Si's Q2 2025 results show a significant drop in revenue and worsening losses compared to prior periods. Operating expenses surged, primarily due to a new legal settlement expense, while the company continues to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.