NEW YORK – Single-molecule protein analysis firm Quantum-Si reported after the close of the market Monday that its Q4 revenues rose nearly threefold year over year.
For the three months ended Dec. 31, 2024, the Guilford, Connecticut-based company posted $1.2 million in revenues, up from $400,000 in Q4 2023.
Quantum-Si reported $1.1 million in product revenue, roughly triple the $377,000 million it reported in Q4 2023. It reported $43,000 in service revenue, nearly double the $23,000 it reported in the year-ago period.
Quantum-Si's net loss grew to $33.1 million, or $.23 per share, from a net loss of $22.0 million, or $.16 per share, in the same quarter a year ago. The increase in net loss was largely due to a decrease in the fair value of the company's warrant liabilities as well as gains on trading securities registered in Q4 2023.
The company's Q4 R&D spending was $17.0 million, up 4 percent from $16.4 million a year ago, while its SG&A expenses were $14.3 million, up 18 percent from $11.6 million in Q4 2023.
For full-year 2024, the company reported revenue of approximately $3.1 million, up roughly threefold from $1.1 million in full-year 2023. Product revenue was $2.9 million versus $1.0 million the year before. Service revenue was $133,000, up from $51,000 in 2023.
Its net loss for full-year 2024 was $101.0 million, or $.71 per share, compared to $96.0 million, or $.68 per share, in 2023.
The company's 2024 R&D expenses fell 11 percent to $59.6 million from $67.0 million in 2023, while its SG&A expenses were $50.5 million, up 13 percent from $44.6 million.
Quantum-Si finished the year with $49.2 million in cash and cash equivalents and $160.4 million in marketable securities.