Quantum-Si delays Proteus launch to Q2 2027, cuts workforce 20%

Quantum-Si (NASDAQ: QSI ) reported second-quarter financial results on Thursday.

The transcript from the company's second-quarter earnings call has been provided below.

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View the webcast at Summary Quantum-Si announced a delay in the Proteus launch to Q2 2027, attributing the change to an additional integrated instrument design cycle to reduce manufacturing risk and improve product readiness.

The company is implementing cost-saving measures, including a 20% workforce reduction, to align expenses with the revised Proteus timeline and preserve investments in critical work streams.

Q2 2026 revenue decreased to $344,000 from $591,000 in Q2 2025, reflecting limited near-term capital purchasing for Platinum and deliberate commercial decisions to position for Proteus.

Gross margin improved to 50% in Q2 2026, with GAAP operating expenses down to $25.8 million from $30.5 million in the prior year.

Quantum-Si maintains its full-year 2026 guidance of approximately $1 million in revenue and adjusted operating expenses of $98 million or less.

The company is exploring market opportunities in non-human proteomics, with an estimated $4 billion annual market potential, particularly in pathogen and agricultural research.

Management emphasized a strategic shift towards application-oriented library preparation kits to better meet customer needs and reduce optimization requirements.

Quantum-Si has identified and qualified over 250 institutions interested in Proteus, spanning academic research, biopharma, and industrial applications.

The company expects to launch Proteus with a detection capability of either 19 or 20 amino acids, improving upon the previous target of 18.

Full Transcript OPERATOR Thank you for standing by.

Welcome to the Quantum-Si second quarter 2026 earnings call.

At this time, all participants are in a listen-only mode.

After the speaker's presentation, there will be a question-and-answer session.

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Please be advised that today's conference is being recorded.

I'd now like to turn the conference over to Risa Lindsey.

Risa Lindsey, Investor Relations Good afternoon, everyone, and thank you for joining us.

Earlier today, Quantum-Si released financial results for the second quarter and six months ended June 30, 2026.

A copy of the press release is available on the company's website.

Joining me today are Jeff Hawkins, our President and Chief Executive Officer, as well as Jeff Kies, our Chief Financial Officer.

Before we begin, I would like to remind you that management will be making certain forward-looking statements within the meaning of the federal securities laws.

These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated.

Additional information regarding these risks and uncertainties appears in the section entitled Forward-Looking Statements of our press release.

For a more complete list and description of risk factors, please see the company's filings made with the Securities and Exchange Commission.

This conference call contains time-sensitive information that is accurate only as of the live broadcast date today, August 13, 2026, at 1:30 p.m.

Pacific Time.

Except as required by law, the company disclaims any intention or obligation to update or revise any forward-looking statement.

During this call, we will also be referring to certain financial measures that are not prepared in accordance with U.S.

Generally Accepted Accounting Principles, or GAAP.

A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is included in the press release filed earlier today.