Quantum-Si Slashes 20% of Workforce, Delays Proteus Launch to 2027 as Revenue Plunges 42%
QSI sits 20% above its 52-week low of $0.69.
Summary
Quantum-Si reported Q2 revenue of $344,000, down 42% year-over-year, and announced a 20% workforce reduction. The company also delayed the commercial launch of its Proteus platform to Q2 2027, citing the need for an additional design cycle. Management guided 2026 revenue to about $1.0 million and adjusted operating expenses to $98 million or less, with cost cuts expected to extend cash runway into Q4 2028. This follows a Nasdaq delisting notice in July and a Q1 revenue decline of 69.4% disclosed in May. The stock trades near $0.83, well below the $1.00 Nasdaq minimum.
Updates
· SEC 10-Q — The 10-Q reports Q2 revenue of $344,000, a 20% workforce cut, and Proteus launch delayed to Q2 2027.
At the time of this announcement, QSI was trading at $0.83 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $172M. The 52-week trading range was $0.69 to $3.10. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.