Canaccord analyst Kyle Mikson lowered the firm's price target on Quantum-Si to $1 from $1.50 and keeps a Hold rating on the shares. The firm said 4Q25 results below our estimates and FactSet consensus. They estimate low-single-digit Platinum instrument sales in the quarter, with gross margin of approximately 27%. Importantly, QSI has largely shifted its focus to the launch of the Proteus platform, framing 2026 as a "transition year."
