QUANTUM-SI INCORPORATED |
||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS |
||||||||||||
(in thousands, except share and per share amounts) |
||||||||||||
(Unaudited) |
||||||||||||
|
Three months ended September 30, |
|
Nine months ended September 30, |
|||||||||
|
2022 |
|
2021 |
|
2022 |
|
2021 |
|||||
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
$ |
16,675 |
|
$ |
11,104 |
|
$ |
53,905 |
|
$ |
32,190 |
|
Selling, general and administrative |
|
10,983 |
|
|
14,071 |
|
|
31,093 |
|
|
36,928 |
|
Total operating expenses |
|
27,658 |
|
|
25,175 |
|
|
84,998 |
|
|
69,118 |
|
Loss from operations |
|
(27,658) |
|
|
(25,175) |
|
|
(84,998) |
|
|
(69,118) |
|
Interest expense |
|
- |
|
|
- |
|
|
- |
|
|
(5) |
|
| Dividend income |
|
1,381 |
|
|
739 |
|
|
3,288 |
|
|
741 |
|
| Change in fair value of warrant liabilities |
|
137 |
|
|
6,975 |
|
|
5,121 |
|
|
3,442 |
|
| Other (expense), net |
|
(5,573) |
|
|
(630) |
|
|
(22,713) |
|
|
(627) |
|
| Loss before provision for income taxes |
|
(31,713) |
|
|
(18,091) |
|
|
(99,302) |
|
|
(65,567) |
|
| Provision for income taxes |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
| Net loss and comprehensive loss |
$ |
(31,713) |
|
$ |
(18,091) |
|
$ |
(99,302) |
|
$ |
(65,567) |
|
| Net loss per common share attributable to common stockholders, basic and diluted |
$ |
(0.23) |
|
$ |
(0.13) |
|
$ |
(0.71) |
|
$ |
(1.09) |
|
| Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted |
|
139,542,660 |
|
|
136,456,848 |
|
|
139,057,663 |
|
|
60,104,891 |
|
| QUANTUM-SI INCORPORATED |
||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||
| (in thousands, except share and per share amounts) |
||||||
| (Unaudited) |
||||||
|
|
September 30, 2022 |
|
December 31, 2021 |
|||
| Assets |
|
|
|
|
|
|
| Current assets: |
|
|
|
|
|
|
| Cash and cash equivalents |
$ |
78,263 |
|
$ |
35,785 |
|
| Marketable securities |
|
293,811 |
|
|
435,519 |
|
| Prepaid expenses and other current assets |
|
6,799 |
|
|
5,868 |
|
| Total current assets |
|
378,873 |
|
|
477,172 |
|
| Property and equipment, net |
|
13,764 |
|
|
8,908 |
|
| Goodwill |
|
9,483 |
|
|
9,483 |
|
| Other assets |
|
697 |
|
|
690 |
|
| Operating lease right-of-use assets |
|
15,166 |
|
|
6,973 |
|
| Total assets |
$ |
417,983 |
|
$ |
503,226 |
|
| Liabilities and stockholders' equity |
|
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
| Accounts payable |
$ |
1,775 |
|
$ |
3,393 |
|
| Accrued expenses and other current liabilities |
|
9,586 |
|
|
7,276 |
|
| Short-term operating lease liabilities |
|
1,280 |
|
|
859 |
|
| Total current liabilities |
|
12,641 |
|
|
11,528 |
|
| Long-term liabilities: |
|
|
|
|
|
|
| Warrant liabilities |
|
2,118 |
|
|
7,239 |
|
| Other long-term liabilities |
|
- |
|
|
206 |
|
| Operating lease liabilities |
|
15,774 |
|
|
7,219 |
|
| Total liabilities |
|
30,533 |
|
|
26,192 |
|
|
|
|
|
|
|
|
|
| Stockholders' equity |
|
|
|
|
|
|
| Class A Common stock, $0.0001 par value; 600,000,000 shares authorized as of September 30, 2022 and December 31, 2021; 119,848,170 and 118,025,410 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively |
|
12 |
|
|
12 |
|
| Class B Common stock, $0.0001 par value; 27,000,000 shares authorized as of September 30, 2022 and December 31, 2021; 19,937,500 shares issued and outstanding as of September 30, 2022 and December 31, 2021 |
|
2 |
|
|
2 |
|
| Additional paid-in capital |
|
753,970 |
|
|
744,252 |
|
| Accumulated deficit |
|
(366,534) |
|
|
(267,232) |
|
| Total stockholders' equity |
|
387,450 |
|
|
477,034 |
|
| Total liabilities and stockholders' equity |
$ |
417,983 |
|
$ |
503,226 |
|
| QUANTUM-SI INCORPORATED |
||||||||||||
| RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES |
||||||||||||
| (in thousands) |
||||||||||||
| (Unaudited) |
||||||||||||
| Adjusted EBITDA |
||||||||||||
|
|
Three months ended September 30, |
|
Nine months ended September 30, |
|||||||||
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
|||||
| Net loss |
$ |
(31,713) |
|
$ |
(18,091) |
|
$ |
(99,302) |
|
$ |
(65,567) |
|
| Adjustments to reconcile to EBITDA: |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense |
|
- |
|
|
- |
|
|
- |
|
|
5 |
|
| Dividend income |
|
(1,381) |
|
|
(739) |
|
|
(3,288) |
|
|
(741) |
|
| Depreciation |
|
729 |
|
|
264 |
|
|
1,789 |
|
|
712 |
|
| EBITDA |
$ |
(32,365) |
|
$ |
(18,566) |
|
$ |
(100,801) |
|
$ |
(65,591) |
|
| Adjustments to reconcile to Adjusted EBITDA: |
|
|
|
|
|
|
|
|
|
|
|
|
| Change in fair value of warrant liabilities |
|
(137) |
|
|
(6,975) |
|
|
(5,121) |
|
|
(3,442) |
|
| Other expense, net |
|
5,573 |
|
|
630 |
|
|
22,713 |
|
|
627 |
|
| Stock-based compensation |
|
4,043 |
|
|
7,396 |
|
|
7,099 |
|
|
17,840 |
|
| Transaction related costs - business combination |
|
- |
|
|
- |
|
|
- |
|
|
6,920 |
|
| Adjusted EBITDA |
$ |
(22,886) |
|
$ |
(17,515) |
|
$ |
(76,110) |
|
$ |
(43,646) |
|
