Quantum-SI Incorporated Reports Net Loss of $25.6 Million in Q2 2023

Quantum-SI Incorporated,(QSI) a pioneering technology comp any specializing in quantum sensing and information, has released its unaudited condensed consolidated financial statements for the quarter ended June 30, 2023. The financial report highlights the company's performance in terms of both revenue and net income. While Quantum-SI recorded a net loss of $25.6 million during the second quarter, the company achieved a revenue of $205,000, demonstrating its commitment to growth in the face of challenges.

Consolidated Balance Sheets Reflect Company's Asset and Liability Structure

Quantum-SI's condensed consolidated balance sheets reveal the company's financial position as of June 30, 2023. The assets total $341.2 million, showcasing a decline from the December 31, 2022, figure of $391.5 million. The company's current assets, which include cash and cash equivalents, marketable securities, accounts receivable, inventory, and prepaid expenses, amounted to $306.8 million. Marketable securities experienced a decrease from $266.9 million at the end of 2022 to $209.3 million in the current quarter. Additionally, Quantum-SI's property and equipment, net, amounted to $18.1 million, and its internally developed software accounted for $0.7 million.

On the liability front, Quantum-SI's current liabilities decreased to $10.2 million, down from $15.7 million at the end of 2022. The company's stockholders' equity stood at $315.3 million, showing a decrease from the $358.7 million recorded at the close of the previous year.