Quantum-Si reported a 5% decline in Q2 2025 revenues primarily due to reduced NIH funding impacting capital sales. The proteomics company missed Wall Street revenue expectations but continued progress with new product launches, including sequencing kits anticipated in Q3 and Q4. Despite increased R&D investment, the firm’s SG&A expenses declined slightly and it raised $50 million in recent stock offerings, providing sufficient capital to sustain operations into 2028. CEO Jeff Hawkins emphasized ongoing product development efforts amid funding headwinds.