Quantum-Si Inc. (QSI) reported total revenue of $2.4 million for the year ended December 31, 2025, a decrease of 20.3% compared to $3.1 million in 2024. Product revenue declined by 21.8% to $2.3 million, while service revenue increased by 12.8% to $0.2 million. The company's cost of revenue decreased by 12.0% to $1.3 million, resulting in a gross profit of $1.2 million, a 27.9% decrease from the previous year. The gross profit margin was 47.3% in 2025, compared to 52.3% in 2024.
Operating expenses increased by 6.4% to $117.3 million, driven by a $13.6 million lease termination expense and a $5.2 million legal settlement expense, partially offset by decreases in research and development and selling, general, and administrative expenses. Research and development expenses decreased by 9.9% to $53.8 million, while selling, general, and administrative expenses decreased by 11.4% to $44.8 million. The company's loss from operations was $116.1 million, compared to $108.6 million in the previous year.
Other income included $0.7 million in dividend income and $9.0 million in interest income. The company also recognized a $4.2 million gain from the change in fair value of warrant liabilities. Quantum-Si's net loss for the year was $101.3 million, or $0.51 per share, compared to a net loss of $101.0 million, or $0.71 per share, in 2024. As of December 31, 2025, the company had cash and cash equivalents and investments in marketable securities totaling $215.8 million.
During 2025, Quantum-Si launched the Platinum Pro benchtop sequencer and continued development of its Proteus platform, expected to launch by the end of 2026. The company also executed several equity transactions, including registered direct offerings and an at-the-market equity offering program, generating net proceeds of approximately $93.5 million. The company anticipates that its existing cash and investments, along with revenue from product sales, will be sufficient to fund operations for at least the next twelve months. As of February 25, 2026, Quantum-Si had 196,431,273 shares of Class A common stock and 19,937,500 shares of Class B common stock outstanding.
About Quantum-Si Inc
Quantum-Si Incorporated develops proteomics research tools, including innovative single-molecule protein sequencing instruments, consumables, and software. Its platforms enable detailed analysis of proteins, variants, and post-translational modifications, serving life sciences research, drug discovery, and diagnostics markets. Focused on broad accessibility, the company offers low-cost, automated solutions to enhance proteomics capabilities across diverse laboratories worldwide. Its technology aims to revolutionize protein analysis with high resolution, automation, and scalability.
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