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Quantum-Si (QSI)

Quantum-Si Incorporated develops protein sequencing platform. The Company offers semiconductor chip designed to enable single-molecule next-generation protein sequencing and genomics, and digitize proteomic research in order to advance drug discovery and diagnostics beyond what has been possible with DNA sequencing.

QSI stock data

Calendar

8 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 81.27M 81.27M 81.27M 81.27M 81.27M 81.27M
Cash burn (monthly) (no burn) 36.72M 10.8M 10.18M 576.33K 2.69M
Cash used (since last report) n/a 108.48M 31.92M 30.08M 1.7M 7.95M
Cash remaining n/a -27.21M 49.35M 51.19M 79.57M 73.33M
Runway (months of cash) n/a -0.7 4.6 5.0 138.1 27.3

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 Aug 22 Christian LaPointe Class A Common Stock Buy Acquire P No No 3.9263 20,000 78.53K 227,693
16 Jun 22 Vikram Bajaj Class A Common Stock Grant Acquire A No No 0 66,666 0 66,666
14 Jun 22 Jonathan M Rothberg Class A Common Stock Buy Acquire P No No 3.0975 25,561 79.18K 2,568,443
13 Jun 22 Matthew Dyer Class A Common Stock Sell Dispose S No No 3.22 1,622 5.22K 333,393
51.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 101 94 +7.4%
Opened positions 30 17 +76.5%
Closed positions 23 20 +15.0%
Increased positions 27 32 -15.6%
Reduced positions 23 20 +15.0%
13F shares Current Prev Q Change
Total value 529.82M 455.34M +16.4%
Total shares 68.93M 68.34M +0.9%
Total puts 67.4K 122.8K -45.1%
Total calls 415.4K 662.3K -37.3%
Total put/call ratio 0.2 0.2 -12.5%
Largest owners Shares Value Change
Jonathan M Rothberg 17.94M $191.64M 0.0%
ARK Investment Management 13.87M $58.94M +3.7%
BLK Blackrock 6.22M $14.43M +298.1%
Glenview Capital Management 5.25M $12.18M -9.1%
Vanguard 4.61M $10.7M +17.2%
Foresite Capital Fund IV 2.34M $6.91M -47.5%
Foresite Capital Management IV 1.77M $4.11M -60.3%
Geode Capital Management 1.59M $3.68M +98.9%
STT State Street 1.49M $3.45M +270.0%
Deerfield Management 1.4M $3.25M 0.0%
Largest transactions Shares Bought/sold Change
BLK Blackrock 6.22M +4.66M +298.1%
Foresite Capital Management IV 1.77M -2.69M -60.3%
Foresite Capital Fund IV 2.34M -2.12M -47.5%
Foresite Capital Management V 924.38K -1.42M -60.5%
CMTDF Sumitomo Mitsui Trust 1.27M +1.27M NEW
TROW T. Rowe Price 38.71K -1.17M -96.8%
STT State Street 1.49M +1.08M +270.0%
Foresite Capital Opportunity Management V 633.63K -964.5K -60.4%
Geode Capital Management 1.59M +788.68K +98.9%
Vanguard 4.61M +678.57K +17.2%

Financial report summary

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Risks
  • We are an early-stage life sciences technology company with a history of net losses, which we expect to continue, and we may not be able to generate meaningful revenues or achieve and sustain profitability in the future.
  • We have a limited operating history, which may make it difficult to evaluate the prospects for our future viability and predict our future performance. As such, you cannot rely upon our historical operating performance to make an investment or voting decision regarding us.
  • Our operating results may fluctuate significantly in the future, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide.
  • We may need to raise additional capital to fund commercialization plans for our products, including manufacturing, sales and marketing activities, expand our investments in research and development, and commercialize new products and applications.
  • We have not yet commercially launched our products, and we may not be able to successfully commercially launch our products as planned.
  • Even if we commercially launch our products, our success depends on broad scientific and market acceptance, which we may fail to achieve.
  • If we are unable to establish sales and marketing capabilities, we may not be successful in commercializing our products.
  • The size of the markets for our products may be smaller than estimated, and new market opportunities may not develop as quickly as we expect, or at all, limiting our ability to successfully sell our products.
  • The COVID-19 pandemic and efforts to reduce its spread have adversely impacted, and are expected to continue to materially and adversely impact our business and operations.
  • Environmental, social and governance matters may impact our business and reputation.
  • If we do not sustain or successfully manage our anticipated growth, our business and prospects will be harmed.
  • We are currently undergoing a leadership transition, and we depend on our key personnel and other highly qualified personnel, and if we are unable to recruit, train and retain our personnel in the future, we may not achieve our goals.
  • We expect to be dependent upon revenue generated from the sales of our initial products from the time they are commercialized through the foreseeable future.
  • Our business will depend significantly on research and development spending by academic institutions and other research institutions, and any reduction in spending could limit demand for our products and adversely affect our business, results of operations, financial condition and prospects.
  • If we use biological and hazardous materials in a manner that causes injury or violates laws or regulations, we could be liable for damages or subject to enforcement actions.
  • We rely on a small number of contract manufacturers to manufacture and supply our instruments. If these manufacturers should fail or not perform satisfactorily, our ability to commercialize and supply our instruments would be adversely affected.
  • If we do not successfully develop and deploy our Quantum-Si Cloud™ software service, our commercialization efforts and therefore business and results of operations could suffer.
  • If we commercialize our products outside of the United States, our international business could expose us to business, regulatory, political, operational, financial, and economic risks associated with doing business outside of the United States.
  • We have limited experience producing and supplying our products, and we may be unable to consistently manufacture or source our instruments and consumables to the necessary specifications or in quantities necessary to meet demand on a timely basis and at acceptable performance and cost levels.
  • Our products could have defects or errors, which may give rise to claims against us and adversely affect our business, financial condition, results of operations and cash flows.
  • The life sciences technology market is highly competitive. If we fail to compete effectively, our business and results of operations will suffer.
  • We are party to Technology and Services Exchange Agreements by and among us and certain affiliated companies, pursuant to which the parties agreed to share personnel and certain non-core technologies. The sharing arrangements under the agreements may prevent us from fully utilizing our personnel and/or the technologies shared under the agreements. Furthermore, if these agreements were to terminate, or if we were to lose access to these technologies and services, our business could be adversely affected.
  • In addition to our acquisition of Majelac, we may acquire other companies or technologies which could divert our management’s attention, result in additional dilution to our stockholders and otherwise disrupt our operations and harm our operating results.
  • We may seek to enter into strategic collaborations and licensing arrangements with third parties, but we may not be successful in establishing or maintaining such arrangements.
  • If our facilities or our third-party manufacturers’ facilities become unavailable or inoperable, our research and development program and commercialization launch plan could be adversely impacted and manufacturing of our instruments and consumables could be interrupted.
  • If we experience a significant disruption in our information technology systems or breaches of data security, our business could be adversely affected.
  • We could become subject to various litigation claims and legal proceedings.
  • If we elect to label and promote any of our products as clinical diagnostics or medical devices, we would be required to obtain prior marketing authorization from the FDA, which would take significant time and expense and could fail to result in FDA marketing authorization of the device for the intended use or uses we believe are commercially attractive.
  • Our RUO products could become subject to government regulation as medical devices by the FDA and other regulatory agencies even if we do not elect to seek regulatory authorization to market our products for diagnostic purposes, which would adversely impact our ability to market and sell our products and harm our business.
  • Our reagents may be used by clinical laboratories to create LDTs, which could, in the future, become subject to some form of FDA regulatory requirements, which could materially and adversely affect our business and results of operations.
  • We may be subject to certain federal, state and foreign fraud and abuse laws, health information privacy and security laws and physician payment transparency laws, which, if violated, could subject us to substantial penalties. Additionally, any challenge to or investigation into our practices under these laws could cause adverse publicity and be costly to respond to, and thus could harm our business.
  • We are currently subject to, and may in the future become subject to additional, U.S. federal and state laws and regulations imposing obligations on how we collect, store and process personal information. Our actual or perceived failure to comply with such obligations could harm our business. Ensuring compliance with such laws could also impair our efforts to maintain and expand our business and future customer base, and thereby decrease our revenue.
  • We could be adversely affected by alleged violations of the Federal Trade Commission Act or other truth-in-advertising and consumer protection laws.
  • Medical product manufacturers’ use of social media platforms presents new risks.
  • If we are unable to obtain and maintain and enforce sufficient intellectual property protection for our products and technology, or if the scope of the intellectual property protection obtained is not sufficiently broad, our competitors could develop and commercialize products similar or identical to ours, and our ability to successfully commercialize our products may be impaired.
  • The U.S. law relating to the patentability of certain inventions in the life sciences technology industry is uncertain and rapidly changing, which may adversely impact our existing patents or our ability to obtain patents in the future.
  • We may not be able to protect our intellectual property rights throughout the world.
  • Issued patents covering our products could be found invalid or unenforceable if challenged.
  • If we are unable to protect the confidentiality of our trade secrets, the value of our technology could be materially adversely affected and our business could be harmed.
  • We may be subject to claims challenging the inventorship of our patents and other intellectual property.
  • We may not be able to protect and enforce our trademarks and trade names, or build name recognition in our markets of interest thereby harming our competitive position.
  • Patent terms may be inadequate to protect our competitive position on our products for an adequate amount of time.
  • We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed to us alleged trade secrets of their other clients or former employers, which could subject us to costly litigation.
  • We may become involved in lawsuits to defend against third-party claims of infringement, misappropriation or other violations of intellectual property or to protect or enforce our intellectual property, any of which could be expensive, time consuming and unsuccessful, and may prevent or delay our development and commercialization efforts.
  • Obtaining and maintaining our patent protection depends on compliance with various required procedures, document submissions, fee payments and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • We currently rely on licenses from third parties, and in the future may rely on additional licenses from other third parties, and if we lose any of these licenses, then we may be subjected to future litigation.
  • If we cannot license rights to use technologies on reasonable terms, we may not be able to commercialize new products in the future.
  • Certain of our in-licensed patents are, and our future owned and in-licensed patents may be, subject to a reservation of rights by one or more third parties, including government march-in rights, that may limit our ability to exclude third parties from commercializing products similar or identical to ours.
  • Our products contain third-party open source software components and failure to comply with the terms of the underlying open source software licenses could restrict our ability to sell our products and provide third parties access to our proprietary software.
  • Intellectual property rights do not necessarily address all potential threats.
  • Our outstanding warrants became exercisable for our Class A common stock in September 2021, which increased the number of shares eligible for future resale in the public market and resulted in dilution to our stockholders.
  • Our warrants are accounted for as liabilities and changes in the value of our warrants could have a material effect on our financial results.
  • We have identified material weaknesses in our internal control over financial reporting. If our remediation measures are ineffective, or if we experience additional material weaknesses in the future or otherwise fail to maintain an effective system of internal controls in the future, we may not be able to report our financial condition, results of operations or cash flows accurately or in a timely manner, which may adversely affect investor confidence in us and, as a result, materially and adversely affect our business and the value of our Class A common stock.
  • Our disclosure controls and procedures may not prevent or detect all errors or acts of fraud.
  • There can be no assurance that the warrants will be in the money prior to their expiration, and they may expire worthless.
  • Because we are a “controlled company” within the meaning of the Nasdaq rules, our stockholders may not have certain corporate governance protections that are available to stockholders of companies that are not controlled companies.
  • The dual class structure of our common stock has the effect of concentrating voting power with our Interim Chief Executive Officer and Executive Chairman of the Board and Founder, which will limit an investor’s ability to influence the outcome of important transactions, including a change in control.
  • We cannot predict the impact our dual class structure may have on the stock price of our Class A common stock.
  • Delaware law and provisions in our certificate of incorporation and bylaws could make a takeover proposal more difficult.
  • Our certificate of incorporation designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings and the federal district courts as the sole and exclusive forum for other types of actions and proceedings, in each case, that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain what such stockholders believe to be a favorable judicial forum for disputes with us or our directors, officers or other employees.
Management Discussion
  • Research and development expenses increased by $5.3 million, or 40.8%, for the three months ended June 30, 2022 compared to the three months ended June 30, 2021. The increase was primarily due to the following elements: $5.2 million related to internal and external product development activities, and $3.4 million in personnel costs as a result of increased headcount.  These increases were partially offset by decreases primarily related to the Business Combination: $1.3 million of stock-based compensation and $2.0 million of transaction bonuses paid.
  • Selling, general and administrative expenses decreased by $7.3 million, or 38.4%, for the three months ended June 30, 2022 compared to the three months ended June 30, 2021. The decrease was primarily due to the following elements related to the Business Combination: $3.9 million in consulting and professional fees, $1.0 million of transaction bonuses paid and $4.9 million of reduced stock-based compensation due primarily to stock option and restricted stock unit awards granted and achieved in connection with the closing of the Business Combination. These decreases were partially offset by the following increases: $1.9 million of headcount expenses to scale up our administrative and executive functions and $0.6 million of expenses primarily due to being a publicly traded company including consulting, professional fees and insurance.
  • Interest expense on the PPP loan decreased for the three months ended June 30, 2022 compared to the three months ended June 30, 2021 as a result of the Company repaying the loan in full in June 2021 in connection with the Business Combination.

Content analysis

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H.S. junior Avg
New words: appointed, Bajaj, CarbonTM, CloudTM, inflation, PlatinumTM, repaying, resigned, vii, Vikram
Removed: authorized, commercial, contract, deemed, exist, experienced, filer, Jumpstart, molecule, repurchase, revised, single