Quantum-Si's Q2 2023 Financial Report Revealed
Quantum-Si Incorporated, a protein sequencing company, reported its financial results for the second quarter of 2023. The company recognized revenue of $205,000 and ended the quarter with an order backlog of two Platinum instruments. Quantum-Si strengthened its Board of Directors and Executive Management team, published new application notes, and presented favorable comparisons of its protein sequencing technology at a conference. The company also initiated a strategic review of its R&D programs. In terms of financials, Quantum-Si recorded a gross profit of $78,000 and a net loss of $25.6 million. The company maintains a cash balance of $297.2 million and reiterates its full-year non-GAAP operating expense to be flat compared to the prior year.