Quantum-Si Shares Rise Despite Underwhelming Q4 Performance

Quantum-Si Inc. (NASDAQ:QSI) announced its fourth-quarter results after the market closed on Monday. Here are the important highlights from the report.

Financial Overview: The company reported a loss of 23 cents per share for the quarter, which was worse than the analysts' consensus estimate of a loss of 19 cents. In addition, Quantum-Si reported quarterly revenue of $1.19 million, which also fell short of the expected $1.23 million. However, this revenue figure is a notable increase from the $400,000 reported in the same quarter last year.

CEO Comments: Jeff Hawkins, the CEO of Quantum-Si, expressed satisfaction with the company's performance, stating, "I am very pleased with how we closed out 2024, delivering our first quarter in excess of $1 million in revenue, the launch of our version 2 Library Preparation Kit and our new Barcoding Kit. We also had a very successful investor and analyst day where we showcased our technology roadmap and announced our next generation Proteus development program and related commercial and development partnerships."

Market Reaction: Following the earnings announcement, Quantum-Si shares experienced a 3.83% increase in after-hours trading, reaching $1.35.

Outlook: Despite the disappointing quarterly results, the company has made significant strides within the year. The improvements in revenue compared to the previous year and the launch of new products may bolster investor confidence moving forward.

Image: Courtesy of Quantum-Si, Inc.

Quantum-Si, Earnings, Stocks