NEW YORK – Single-molecule proteomics firm Quantum-Si reported on Monday that its year-over-year net loss rose in Q4.
For the three months ended Dec. 31, the Guilford, Connecticut-based firm's net loss was $33.1 million, or $.24 per share, compared to a net loss of $29.4 million, or $.21 per share, in the same quarter a year ago.
Quantum-Si began shipping its Platinum single-molecule protein analysis platform in Q4 but did not report any revenues from sales of the instrument during the quarter. The company said it plans to launch its Carbon automated sample prep system in the second half of 2023.
Quantum-Si's Q4 R&D spending was $18.2 million, up 26 percent from $14.4 million a year ago, while its SG&A expenses were $11.2 million, down 16 percent from $13.4 million in Q4 2021.
For full-year 2022, the firm's net loss grew to $132.4 million, or $.95 per share, from $95.0 million, or $1.19 per share, in 2021. Quantum-Si used about 139.3 million shares to calculate per-share loss in 2022 compared to about 79.6 million shares in 2021.
The company's 2022 R&D expenses grew 55 percent to $72.1 million from $46.6 million in 2021, while its SG&A expenses were $42.3 million, down 16 percent from $50.3 million.
Quantum-Si finished the year with $84.3 million in cash and cash equivalents and $267.0 million in marketable securities.
The company said it expects 2023 non-GAAP operating expenses to be approximately flat with 2022. It expects its current balance of cash, cash equivalents, and investments to be sufficient to fund operations into 2026.
In Monday morning trading on the Nasdaq, Quantum-Si shares were down 5 percent to $2.05.