Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Quantum-Si Inc announced a restructuring with charges of approximately $2.3 million in 2024 and another $0.3 million in the first six months of 2025 (approximately 23% of its 187-employee workforce).
- Type
- restructuring
- Charge
- approximately $2.3 million in 2024 and another $0.3 million in the first six months of 2025
- Headcount
- approximately 23% of its 187-employee workforce
Exact text from the filing
On November 21, 2024, Quantum-Si Incorporated (the “Company”) committed to an organizational restructuring program designed to streamline and focus its overall corporate resources, as well as align required resources to focus on future product development objectives, including its recently announced Proteus TM platform. As a result, the Company is terminating approximately 23% of its 187-employee workforce. In connection with the restructuring, the Company expects that it will recognize one-time cash charges related to severance and other benefits of approximately $2.3 million in 2024 and another $0.3 million in the first six months of 2025. In addition, the Company expects to recognize non-cash expense over the remainder of 2024 in the amount of approximately $0.2 million related to stock option modifications.
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