QUANTUM-SI INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except share and per share amounts) (Unaudited) |
||||||||||||||||
| Three months ended June 30, | Six months ended June 30, | |||||||||||||||
2021 |
2020 |
2021 |
2020 |
|||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | $ |
13,114 |
|
$ |
6,595 |
|
$ |
21,086 |
|
$ |
14,519 |
|
||||
| General and administrative |
|
17,805 |
|
|
1,306 |
|
|
21,222 |
|
|
3,526 |
|
||||
| Sales and marketing |
|
1,245 |
|
|
300 |
|
|
1,635 |
|
|
559 |
|
||||
| Total operating expenses |
|
32,164 |
|
|
8,201 |
|
|
43,943 |
|
|
18,604 |
|
||||
| Loss from operations |
|
(32,164 |
) |
|
(8,201 |
) |
|
(43,943 |
) |
|
(18,604 |
) |
||||
| Interest income |
|
2 |
|
|
7 |
|
|
2 |
|
|
93 |
|
||||
| Interest expense |
|
(5 |
) |
|
(1 |
) |
|
(5 |
) |
|
(1 |
) |
||||
| Change in fair value of warrant liabilities |
|
(3,533 |
) |
|
- |
|
|
(3,533 |
) |
|
- |
|
||||
| Other income (expense), net |
|
3 |
|
|
(2 |
) |
|
3 |
|
|
1 |
|
||||
| Loss before provision for income taxes |
|
(35,697 |
) |
|
(8,197 |
) |
|
(47,476 |
) |
|
(18,511 |
) |
||||
| Provision for income taxes |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Net loss and comprehensive loss | $ |
(35,697 |
) |
$ |
(8,197 |
) |
$ |
(47,476 |
) |
$ |
(18,511 |
) |
||||
| Net loss per common share attributable to common stockholders, basic and diluted | $ |
(3.05 |
) |
$ |
(1.53 |
) |
$ |
(5.50 |
) |
$ |
(3.46 |
) |
||||
| Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted |
|
11,696,084 |
|
|
5,351,199 |
|
|
8,629,355 |
|
|
5,345,854 |
|
||||
| QUANTUM-SI INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) (Unaudited) |
|||||||
| June 30, | December 31, | ||||||
| 2021 |
2020 |
||||||
| Assets | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ |
521,936 |
|
$ |
36,910 |
|
|
| Prepaid expenses and other current assets |
|
2,007 |
|
|
716 |
|
|
| Due from related parties |
|
150 |
|
|
232 |
|
|
| Total current assets |
|
524,093 |
|
|
37,858 |
|
|
| Property and equipment, net |
|
2,857 |
|
|
1,996 |
|
|
| Other assets - related party |
|
- |
|
|
738 |
|
|
| Total assets | $ |
526,950 |
|
$ |
40,592 |
|
|
| Liabilities, convertible preferred stock and stockholders' equity (deficit) | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ |
3,032 |
|
$ |
1,301 |
|
|
| Due to related parties |
|
886 |
|
|
28 |
|
|
| Accrued expenses and other current liabilities |
|
3,946 |
|
|
1,425 |
|
|
| Total current liabilities |
|
7,864 |
|
|
2,754 |
|
|
| Long-term liabilities: | |||||||
| Warrant liabilities |
|
15,150 |
|
|
- |
|
|
| Notes payable |
|
- |
|
|
1,749 |
|
|
| Total liabilities |
|
23,014 |
|
|
4,503 |
|
|
| Commitments and contingencies | |||||||
| Convertible preferred stock | |||||||
| Convertible preferred stock (Series A, B, C, D, and E) $0.0001 par value with an aggregate liquidation preference of $0 and $216 as of June 30, 2021 and December 31, 2020, respectively; 0 and 92,078,549 shares authorized as of June 30, 2021 and December 31, 2020, respectively; 0 and 90,789,268 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively |
|
- |
|
|
195,814 |
|
|
| Stockholders' equity (deficit) | |||||||
| Class A Common stock, $0.0001 par value; 600,000,000 and 90,000,000 shares authorized as of June 30, 2021 and December 31, 2020, respectively; 116,463,160 and 5,378,287 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively |
|
12 |
|
|
1 |
|
|
| Class B Common stock, $0.0001 par value; 27,000,000 and 0 shares authorized as of June 30, 2021 and December 31, 2020, respectively; 19,937,500 and 0 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively |
|
2 |
|
|
- |
|
|
| Additional paid-in capital |
|
723,641 |
|
|
12,517 |
|
|
| Accumulated deficit |
|
(219,719 |
) |
|
(172,243 |
) |
|
| Total stockholders' equity (deficit) |
|
503,936 |
|
|
(159,725 |
) |
|
| Total Liabilities, convertible preferred stock and stockholders' equity (deficit) | $ |
526,950 |
$ |
40,592 |
|||
| QUANTUM-SI INCORPORATED RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (in thousands) (Unaudited) |
||||||||||||||||
| Adjusted EBITDA |
||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2021 |
2020 |
2021 |
2020 |
|||||||||||||
| Net loss | $ |
(35,697 |
) |
$ |
(8,197 |
) |
$ |
(47,476 |
) |
$ |
(18,511 |
) |
||||
| Interest income |
|
(2 |
) |
|
(7 |
) |
|
(2 |
) |
|
(93 |
) |
||||
| Interest expense |
|
5 |
|
|
1 |
|
|
5 |
|
|
1 |
|
||||
| Change in fair value of warrant liabilities |
|
3,533 |
|
|
- |
|
|
3,533 |
|
|
- |
|
||||
| Other (income) expense, net |
|
(3 |
) |
|
2 |
|
|
(3 |
) |
|
(1 |
) |
||||
| Stock-based compensation expense |
|
9,987 |
|
|
466 |
|
|
10,444 |
|
|
1,108 |
|
||||
| Depreciation and amortization |
|
235 |
|
|
225 |
|
|
448 |
|
|
454 |
|
||||
| Transaction related costs |
|
7,383 |
|
|
- |
|
|
7,383 |
|
|
- |
|
||||
| Adjusted EBITDA | $ |
(14,559 |
) |
$ |
(7,510 |
) |
$ |
(25,668 |
) |
$ |
(17,042 |
) |
||||
