Quantum-Si Incorporated reported its financial results for the first quarter ended March 31, 2025. The company recorded a revenue of $842,000, marking an 84% increase compared to the first quarter of 2024. Gross profit for the quarter was $486,000, translating to a gross margin of 58%. The company noted that the gross margin rate is expected to be variable in the near term due to the initial stages of commercialization and the timing and mix of product sales between instruments and consumable kits. Operating expenses were reported at $25.6 million for the first quarter of 2025, compared to $23.6 million for the same period in the prior year. The adjusted total operating expenses were $22.9 million in the first quarter of 2025, compared to $21.9 million in the same period of the prior year. Quantum-Si reported a net loss of $19.2 million for the first quarter of 2025, compared to a net loss of $19.5 million in the same period of the previous year. The adjusted EBITDA was negative $21.5 million in the first quarter of 2025, compared to negative $20.5 million in the same period of the prior year. Significant operational updates include the launch and first deliveries of the Platinum® Pro units, as well as the announcement of a new v3 Library Preparation Kit expected to launch by the end of 2025. The company also expanded its international channel network and reaffirmed its cash runway into the second half of 2027. As of March 31, 2025, Quantum-Si's cash and cash equivalents and investments in marketable securities stood at $232.6 million.