TM protein sequencing instrument and the Company’s other products once commercialized; the Company's ability to obtain and maintain regulatory approval for its products, and any related restrictions and limitations of any approved product; the Company's ability to identify, in-license or acquire additional technology; the Company's ability to maintain its existing lease, license, manufacture and supply agreements; the Company's ability to compete with other companies currently marketing or engaged in the development or commercialization of products and services that serve customers engaged in proteomic analysis, many of which have greater financial and marketing resources than the Company; the size and growth potential of the markets for the Company's products and services, and its ability to serve those markets once commercialized, either alone or in partnership with others; the Company's estimates regarding future expenses, future revenue, capital requirements and needs for additional financing; the Company's financial performance; and other risks and uncertainties described under "Risk Factors" in the Company’s Annual Report for the fiscal year ended December 31, 2022, and in the Company's other filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

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,
	2023				2022				2023				2022
Revenue:
Product	$	216			$	-			$	654			$	-
Service		7				-				28				-
Total revenue		223				-				682				-
Cost of revenue		115				-				372				-
Gross profit		108				-				310				-
Operating expenses:
Research and development		16,587				16,675				50,588				53,905
Selling, general and administrative		10,696				10,983				33,010				31,093
Total operating expenses		27,283				27,658				83,598				84,998
Loss from operations		(27,175	)			(27,658	)			(83,288	)			(84,998	)
Dividend income		2,572				1,381				7,274				3,288
Unrealized gain (loss) on marketable securities		1,953				(4,240	)			8,302				(20,384	)
Realized loss on marketable securities		(1,901	)			(1,348	)			(6,489	)			(2,399	)
Change in fair value of warrant liabilities		(162	)			137				(81	)			5,121
Other income (expense), net		(15	)			15				370				70
Loss before provision for income taxes		(24,728	)			(31,713	)			(73,912	)			(99,302	)
Provision for income taxes		-				-				-				-
Net loss and comprehensive loss	$	(24,728	)		$	(31,713	)		$	(73,912	)		$	(99,302	)
Net loss per common share attributable to common stockholders, basic and diluted	$	(0.17	)		$	(0.23	)		$	(0.52	)		$	(0.71	)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted		141,660,018				139,542,660				141,154,110				139,057,663

QUANTUM-SI INCORPORATED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) (Unaudited)
	September 30, 2023				December 31, 2022
Assets
Current assets:
Cash and cash equivalents	$	93,822			$	84,319
Marketable securities		180,803				266,990
Accounts receivable, net of allowance for estimated credit losses of $0 and $0, respectively		466				-
Inventory, net		2,325				-
Prepaid expenses and other current assets		7,392				6,873
Total current assets		284,808				358,182
Property and equipment, net		17,606				16,849
Internally developed software		627				-
Operating lease right-of-use assets		14,354				15,757
Other assets		701				697
Total assets	$	318,096			$	391,485
Liabilities and stockholders' equity
Current liabilities:
Accounts payable	$	2,056			$	3,903
Accrued expenses and other current liabilities		7,428				10,434
Current portion of operating lease liabilities		1,523				1,369
Total current liabilities		11,007				15,706
Warrant liabilities		1,077				996
Other long-term liabilities		19				-
Operating lease liabilities		13,928				16,077
Total liabilities		26,031				32,779
Commitments and contingencies
Stockholders' equity
Class A Common stock, $0.0001 par value; 600,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 121,790,534 and 120,006,757 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively		12				12
Class B Common stock, $0.0001 par value; 27,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 19,937,500 shares issued and outstanding as of September 30, 2023 and December 31, 2022		2				2
Additional paid-in capital		765,637				758,366
Accumulated deficit		(473,586	)			(399,674	)
Total stockholders' equity		292,065				358,706
Total liabilities and stockholders' equity	$	318,096			$	391,485

QUANTUM-SI INCORPORATED RECONCILIATION OF U.S. GAAP TO NON-GAAP FINANCIAL MEASURES (in thousands) (Unaudited)
	Three months ended September 30,								Nine months ended September 30,
	2023				2022				2023				2022
Net loss	$	(24,728	)		$	(31,713	)		$	(73,912	)		$	(99,302	)
Adjustments to reconcile to EBITDA:
Dividend income		(2,572	)			(1,381	)			(7,274	)			(3,288	)
Depreciation and amortization		1,170				729				3,063				1,789
EBITDA	$	(26,130	)		$	(32,365	)		$	(78,123	)		$	(100,801	)
Adjustments to reconcile to Adjusted EBITDA:
Unrealized (gain) loss on marketable securities		(1,953	)			4,240				(8,302	)			20,384
Realized loss on marketable securities		1,901				1,348				6,489				2,399
Change in fair value of warrant liabilities		162				(137	)			81				(5,121	)
Other (income) expense, net		15				(15	)			(370	)			(70	)
Stock-based compensation		1,141				4,043				6,914				7,099
Restructuring costs		2,251				-				4,131				-
Adjusted EBITDA	$	(22,613	)		$	(22,886	)		$	(69,180	)		$	(76,110	)

	Three months ended September 30,								Nine months ended September 30,
	2023				2022				2023				2022
Total operating expenses	$	27,283			$	27,658			$	83,598			$	84,998
Adjustments to reconcile to Adjusted total operating expenses:
Stock-based compensation		(1,141	)			(4,043	)			(6,914	)			(7,099	)
Restructuring costs		(2,251	)			-				(4,131	)			-
Adjusted total operating expenses	$	23,891			$	23,615			$	72,553			$	77,899

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