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BRANFORD, Conn. - Quantum-Si Incorporated (NASDAQ:QSI) reported fourth quarter earnings that missed analyst expectations, but saw its shares rise 3.9% as investors focused on strong full-year revenue growth and an extended cash runway.
The protein sequencing company reported fourth quarter revenue of $1.2 million, falling short of the $1.79 million analyst consensus. Adjusted earnings per share came in at -$0.23, $0.04 worse than estimates of -$0.19.
However, Quantum-Si highlighted that full-year 2024 revenue surged 183% year-over-year to $3.1 million. The company also raised over $86 million in capital between Q4 2024 and early 2025, extending its cash runway into the second half of 2027.
"I am very pleased with how we closed out 2024, delivering our first quarter in excess of $1 million in revenue," said Jeff Hawkins (NASDAQ:HWKN), President and CEO of Quantum-Si. He added that the successful capital raise "demonstrates the overall confidence in Quantum-Si and our strategic roadmap."
The company reported a gross profit of $0.6 million for Q4, with a gross margin of 51%. For the full year 2024, gross profit reached $1.6 million with a 52% margin.
Quantum-Si expects "significant revenue growth" in 2025, driven by the launch of its Platinum Pro instrument and expanded distribution partnerships. The company also plans to release new products throughout the year to boost customer adoption.
While operating expenses rose slightly to $31.3 million in Q4 from $28.1 million a year earlier, Quantum-Si said it has optimized spending to keep adjusted operating expenses flat year-over-year while funding commercialization efforts.
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