Quantum-Si 2025 Q2 Earnings Misses Targets with Net Loss Widening 24.8%

Quantum-Si reported second-quarter 2025 results that fell short of expectations, with both revenue and net income deteriorating year over year. The company maintained the same negative EPS of $-0.16 but saw its net loss widen significantly to $-28.84 million. In addition, Quantum-Si revised its full-year operating expense and cash use guidance downward, signaling a focus on cost control amid ongoing financial challenges.

Revenue
Quantum-Si reported total revenue of $591,000 for the quarter, reflecting a 5.0% decline compared to $622,000 in the same period of 2024. The drop primarily stemmed from a slowdown in capital purchases at U.S. academic institutions, though consumables sales held steady in line with expectations. With the company operating a single product line and business model, the overall revenue decline underscores the challenges in driving broader market adoption and growth.

Earnings/Net Income
Quantum-Si posted an EPS of $-0.16, unchanged from the prior year, but the net loss expanded to $-28.84 million, representing a 24.8% increase compared to the $-23.10 million loss in Q2 2024. The company has now recorded losses in the corresponding fiscal quarter for four consecutive years, signaling persistent financial headwinds that continue to weigh on profitability.

Price Action
Quantum-Si’s stock has experienced significant downward pressure in recent weeks. The stock fell 1.37% on the latest trading day, 11.93% over the past week, and 32.71% month-to-date, reflecting investor concern over the earnings results and broader market dynamics.

Post-Earnings Price Action Review
The historical performance of a strategy to buy QSI shares following positive revenue announcements and hold for 30 days has shown mixed results over the past three years. While Q2 2023 saw a notable 15.7% rise in stock price, Q3 2023 deviated with a decline despite a positive revenue surprise, underscoring the influence of market conditions and other unaccounted factors. The strategy’s inconsistency reflects the volatility and unpredictability surrounding QSI’s stock, particularly in light of the company’s ongoing financial challenges. Although Q2 2025 did not feature a revenue raise, the stock’s flat performance highlights the limitations of relying solely on earnings-driven buying strategies for QSI. Investors must also consider the company’s long-term fundamentals and broader industry trends to make informed decisions.

CEO Commentary
Jeffrey Alan Hawkins, CEO, attributed the Q2 revenue shortfall to stalled academic capital purchases in the U.S., though he noted that consumables sales met expectations. He emphasized the need for a larger installed base to drive long-term consumable revenue and reiterated strategic initiatives such as new instrument acquisition models, including rentals and performance-based placements. Hawkins also highlighted progress in V4 sequencing, V3 library prep, and Proteus development, while underscoring the importance of innovation and financial discipline.

Guidance
Quantum-Si updated its 2025 guidance, capping adjusted operating expenses at $98 million and total cash use at $95 million. The company now expects its cash runway to extend through Q2 2028, bolstered by $214.2 million in cash, including $50 million from a recent direct offering. While short-term revenue guidance remains uncertain due to capital market dynamics and NIH funding clarity, management expressed confidence in long-term growth driven by consumables and expanded access models.

Additional News
Within three weeks of the August 5, 2025 earnings report, Quantum-Si secured $50 million in new capital through a direct offering, signaling a strategic move to strengthen its balance sheet. The company also announced plans for new instrument access programs, including rental and performance-based models, aimed at overcoming capital constraints for academic and biotech clients. In a separate update, the company reaffirmed its commitment to innovation, with internal development teams making progress on next-generation sequencing and library prep technologies, including the Proteus platform. No significant executive changes or M&A activity were reported during the period.