The following is a summary of the Quantum-Si Incorporated (QSI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Third quarter 2024 revenue was below expectations at $787,000.

• Gross profit was $367,000 and gross margin stood at 47%.

• Net loss for the quarter amounted to $25.3 million, and adjusted EBITDA was negative $24.5 million.

Business Progress:

• Significant strides in commercial ramp-up of 'Platinum', aiming to lead the proteomics market.

• Introduced key strategic hires and improved sales process to accelerate commercial adoption.

• Added new library preparation and barcoding kits enhancing functionality and reduction in sample prep time.

• Received the Technology Innovation Leadership Award from Frost & Sullivan for pioneering proteomic research.

• Partnered with University of California, Santa Cruz, to integrate Platinum with genomic and transcriptomic data.

Opportunities:

• Positioned to benefit from potential end year capital spending boosts in the industry.

• New advancements in technology expected to open large, new market opportunities and position the company prominently in proteomics.

Risks:

• Significant lengthening of the sales cycle experienced, with some deals being pushed back, impacting revenue predictability.

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