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Dec 31, 2025
Quantum-Si Q4 2025 Earnings Report
Quantum-Si reported fourth quarter 2025 financial results, highlighting the release of the Proteus platform list price and progress toward its 2026 launch.
Key Takeaways
Quantum-Si reported Q4 2025 revenue of $451,000 and a net loss of $17.6 million. The company is currently in a transition phase, prioritizing the development and upcoming 2026 launch of its Proteus platform, which has been assigned a list price of $425,000. While near-term revenue is being impacted by strategic upgrade credits and customer deferrals, the company maintains a strong cash position of $215.8 million to fund operations into 2028.
Announced a list price of $425,000 for the upcoming Proteus platform, intended to capture premium value while remaining accessible.
Q4 revenue of $451,000 showed a decline from $1.19 million in the prior year due to strategic placement programs and upgrade credits.
Operating expenses significantly decreased to $21.2 million in Q4 2025 from $31.3 million in Q4 2024, reflecting improved cost discipline.
Maintains a robust cash and marketable securities balance of $215.8 million, providing a projected runway into the second quarter of 2028.
Revenue by Segment
Forward Guidance
For the full year 2026, Quantum-Si expects a transition year with moderated revenue as it prepares for the Proteus launch at year-end.
Positive Outlook
- Proteus development program remains on track for a year-end 2026 launch.
- Cash runway is expected to support operations into the second quarter of 2028.
- List price for Proteus released early to assist customers with capital budgeting cycles.
- Adjusted total operating expenses are being managed with discipline, targeted at $98 million or less.
- Strategic upgrade credits provide a clear path for Platinum Pro customers to transition to Proteus.
Challenges Ahead
- 2026 revenue is expected to be approximately $1.0 million, a decrease from 2025.
- Revenue will be tempered by deliberate strategic choices including upgrade credits.
- Customers may delay purchasing decisions in anticipation of the Proteus platform.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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