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Quantum-Si Q2 Net Loss Down 9 Percent

NEW YORK – Quantum-Si on Tuesday reported a net loss of $32.4 million in the second quarter of 2022, down 9 percent from $35.7 million in the year-ago period.

The proteomics startup did not post any revenues during the quarter ended June 30.

During a conference call following release of the financial results, Jonathan Rothberg, the company's founder and interim CEO, said it remained on track to launch its Platinum proteomic platform this year.

Quantum-SI's loss per share during the quarter was $.23 versus a loss per share of $.97 in Q2 2021. The weighted-average shares used to compute net loss per share in Q2 2021 was 139.0 million versus 36.9 million in Q2 2021.

Quantum-Si's R&D spending was up 41 percent during the quarter to $18.5 million from $13.1 million in Q2 2021. Its SG&A spending was $11.7 million, down 39 percent from $19.1 million in Q2 2021.

As of June 30, the company had $81.3 million in cash and cash equivalents and $319.4 million in marketable securities.