Business
Quantum-Si Reports Second Quarter 2021 Financial Results
Quantum-Si Solidifies Financial Strength and Continues Systematic Commercialization Strategy GUILFORD, Conn.--(BUSINESS WIRE)-- Quantum-Si Incorporated
About this update from Quantum-si Incorporated
[{"type":"text","content":"\nQuantum-Si Solidifies Financial Strength and Continues Systematic Commercialization Strategy\n\n GUILFORD, Conn.--(BUSINESS WIRE)--\nQuantum-Si Incorporated (Nasdaq: QSI) (“Quantum-Si” or the “Company”), a company pioneering next-generation semiconductor chip-based proteomics, today announced financial results for the quarter ended June 30, 2021 and provided a business update. John Stark, Quantum-Si’s Chief Executive Officer, and Claudia Drayton, Quantum-Si’s Chief Financial Officer, will host a call today at 4:30 pm EDT to review the Company’s results.\n\nRecent Highlights:\n\n\nCompleted the business combination with HighCape Capital Acquisition Corp. (“HighCape”), adding over $511 million in cash to the balance sheet.\n\n\nSuccessfully delivered three additional early access systems to key thought leaders in proteomics and single-molecule sequencing to support product development.\n\n\nEntered into an agreement to develop a state-of-the-art, 25,000 square foot facility in San Diego to support production and research and development activities.\n\n\nIncreased headcount to support future growth; senior-level appointments include our Chief Financial Officer and Head of People.\n\n\n“The second quarter was a pivotal one for Quantum-Si. We completed the business combination with HighCape, securing funding for future growth and commercial expansion,” said John Stark, Quantum-Si’s Chief Executive Officer. “We have now delivered a total of 5 systems under our early access program to key thought leaders. We are actively partnering with these groups to conduct studies demonstrating the power of single-molecule protein sequencing. We continue to scale our company to support future growth, adding significantly to headcount and recently entering into an agreement to develop a 25,000 square feet state-of-the-art facility in San Diego. These developments will help drive our commercialization efforts and position Quantum-Si as a leader in the highly anticipated field of single-molecule protein sequencing. I’m honored to lead this talented organization through the next step in our evolution.”\n\nSecond Quarter 2021 Financial Results\n\nOperating expenses were $32.2 million in the second quarter of 2021, compared to $8.2 million in the second quarter of 2020, representing an increase of 292%.\n\nResearch and development expenses for the seco...