QuantumSi Reports Q2 2024 Financial Results

authorIntellectia.AI2024-08-08
5
QSI.O
Illustration by Intellectia.AI

Quantum-Si Reports Q2 2024 Financial Results

Quantum-Si Incorporated reported its financial results for the second quarter ending June 30, 2024.

Key Financial Metrics

Metric Q2 2024 Q1 2024 Q2 2023 Year-over-Year % Change Quarter-over-Quarter % Change Consensus Estimates (Q2 2024)
Total Revenue $0.6 million $0.5 million $0.2 million +203.4% +20% $0.68 million
Earnings Per Share (EPS) $-0.19 $-0.13 $-0.20 +0.5% -46.2% $-0.19

Interpretation : Compared to the same quarter last year, Quantum-Si saw a significant increase in total revenue, reflecting the initial success of their Platinum® NGPS instrument commercial launch. The EPS showed slight improvement year-over-year but worsened quarter-over-quarter.

Revenue Performance by Segment

Segment Q2 2024 Q2 2023 Year-over-Year % Change Previous Guidance
Product Revenue $0.55 million $0.16 million +243.8% N/A
Service Revenue $0.05 million $0.04 million +25% N/A

Interpretation : Product revenue has seen substantial growth due to the launch of the Platinum® instrument, while service revenue continues to show steady improvement.

Comments from Company Officers

There were no specific comments from company's officers mentioned in the earnings release.

Dividends or Share Repurchase Program

No information on dividends or share repurchase programs was announced in the provided data.

Forward Guidance

The earnings release did not include any forward guidance for upcoming quarters or the fiscal year.

Stock Price Movement

Following the release of the earnings report, Quantum-Si’s stock experienced a decline, showing a -5.91% change.

Summary : Quantum-Si's financial results for the second quarter of 2024 show robust revenue growth driven by their new product launches, though profitability continues to be a challenge as reflected in their EPS figures. Despite positive sales trends, the market reaction to the earnings report was negative, possibly due to the lack of forward guidance or concerns over widening losses.

This is the detailed earnings summary for Quantum-Si Incorporated based on the available data. If any additional specific details or adjustments are required, please provide further information.

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