QuantumSi Reports Q2 2024 Financial Results
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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