QUANTUM-SI INCORPORATED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except share and per share amounts) (Unaudited) |
|||||||
Three months ended March 31, |
|||||||
|
2022 |
|
|
2021 |
|
||
Operating expenses: |
|
|
|
|
|
||
Research and development |
$ |
18,771 |
|
|
$ |
7,972 |
|
Selling, general and administrative |
|
8,369 |
|
|
|
3,807 |
|
Total operating expenses |
|
27,140 |
|
|
|
11,779 |
|
Loss from operations |
|
(27,140 |
) |
|
|
(11,779 |
) |
Dividend income |
|
855 |
|
|
|
- |
|
Change in fair value of warrant liabilities |
|
2,647 |
|
|
|
- |
|
Other expense, net |
|
(11,537 |
) |
|
|
- |
|
Loss before provision for income taxes |
|
(35,175 |
) |
|
|
(11,779 |
) |
Provision for income taxes |
|
- |
|
|
|
- |
|
| Net loss and comprehensive loss |
$ |
(35,175 |
) |
|
$ |
(11,779 |
) |
| Net loss per common share attributable to common stockholders, basic and diluted |
$ |
(0.25 |
) |
|
$ |
(2.13 |
) |
| Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted |
|
138,619,929 |
|
|
|
5,528,551 |
|
| QUANTUM-SI INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) (Unaudited) |
|||||||
|
March 31,
|
|
December 31,
|
|||||
| Assets |
|
|
|
|
|
||
| Current assets: |
|
|
|
|
|||
| Cash and cash equivalents |
$ |
34,984 |
|
$ |
35,785 |
|
|
| Marketable securities |
|
399,810 |
|
|
|
435,519 |
|
| Prepaid expenses and other current assets |
|
4,985 |
|
|
|
5,868 |
|
| Total current assets |
|
439,779 |
|
|
|
477,172 |
|
| Property and equipment, net |
|
11,151 |
|
|
|
8,908 |
|
| Goodwill |
9,483 |
|
9,483 |
|
|||
| Other assets |
|
690 |
|
|
|
690 |
|
| Operating lease right-of-use assets |
|
15,035 |
|
|
|
6,973 |
|
| Total assets |
$ |
476,138 |
|
|
$ |
503,226 |
|
| Liabilities and stockholders' equity |
|
|
|
|
|
||
| Current liabilities: |
|
|
|
|
|
||
| Accounts payable |
$ |
4,293 |
|
|
$ |
3,393 |
|
| Accrued expenses and other current liabilities |
|
8,779 |
|
|
|
7,276 |
|
| Short-term operating lease liabilities |
973 |
|
859 |
|
|||
| Total current liabilities |
|
14,045 |
|
|
|
11,528 |
|
| Long-term liabilities: |
|
|
|
|
|
||
| Warrant liabilities |
|
4,592 |
|
|
|
7,239 |
|
| Other long-term liabilities |
|
240 |
|
|
|
206 |
|
| Operating lease liabilities |
|
15,386 |
|
|
|
7,219 |
|
| Total liabilities |
|
34,263 |
|
|
|
26,192 |
|
|
|
|
|
|
|
|||
| Stockholders' equity |
|
|
|
|
|
||
| Class A Common stock, $0.0001 par value; 600,000,000 shares authorized as of March 31, 2022 and December 31, 2021; 118,972,397 and 118,025,410 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively |
|
12 |
|
|
|
12 |
|
| Class B Common stock, $0.0001 par value; 27,000,000 shares authorized as of March 31, 2022 and December 31, 2021; 19,937,500 shares issued and outstanding as of March 31, 2022 and December 31, 2021 |
|
2 |
|
|
|
2 |
|
| Additional paid-in capital |
|
744,268 |
|
|
|
744,252 |
|
| Accumulated deficit |
|
(302,407 |
) |
|
|
(267,232 |
) |
| Total stockholders' equity |
|
441,875 |
|
|
|
477,034 |
|
| Total liabilities and stockholders' equity |
$ |
476,138 |
|
|
$ |
503,226 |
|
| QUANTUM-SI INCORPORATED RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES (in thousands) (Unaudited) |
|||||||
| Adjusted EBITDA |
|||||||
| Three months ended March 31, |
|||||||
| 2022 |
|
|
2021 |
|
|||
| Net loss |
$ |
(35,175 |
) |
|
$ |
(11,779 |
) |
| Dividend income |
|
(855 |
) |
|
|
- |
|
| Change in fair value of warrant liabilities |
|
(2,647 |
) |
|
|
- |
|
| Other expense, net |
|
11,537 |
|
|
|
- |
|
| Stock-based compensation |
|
(714 |
) |
|
|
457 |
|
| Depreciation |
|
452 |
|
|
|
213 |
|
| Adjusted EBITDA |
$ |
(27,402 |
) |
|
$ |
(11,109 |
) |
