1. QCi reported strong financial results for Q4 2024. 2. They will launch a Quantum Photonic Chip Foundry in early 2025. 3. NASA collaborations validate QCi’s quantum optimization capabilities. 4. A bolstered balance sheet supports scalable operations. 5. QCi aims for accelerated commercialization and growth.
Improved financials, new collaborations, and upcoming launches typically indicate growth potential. Historical examples of similar companies report price increases post-announcements of technological advancements.
Key developments such as financial positioning and new partnerships strongly indicate potential for stock price appreciation.
The launch of the photonic chip foundry and ongoing collaborations will take time to realize revenue impacts, aligning with long-term growth strategies.
an innovative, integrated photonics and quantum optics technology company, today released financial results for the three and twelve-month periods ended December 31, 2024.
Dr William McGann, Chief Executive Officer of QCi, commented, "QCi made meaningful progress in the fourth quarter strengthening our financial position to support the continued advancement of our quantum solutions and foundry services. With a significantly bolstered balance sheet, we are well-positioned to scale operations and accelerate commercialization efforts.
Operationally, we remain on track to launch our Quantum Photonic Chip Foundry in early 2025, with multiple purchase orders secured, reinforcing the growing demand for TFLN (thin film lithium niobate)-based photonic integrated circuits. Additionally, our collaborations with NASA highlight the real-world applications of our Dirac-3 quantum optimization machine, further validating its capabilities. Looking ahead, we are focused on executing our growth strategy, expanding industry partnerships, and delivering next-generation photonic and quantum technologies to the market."
The Company will host its fourth quarter and year end conference call on Thursday, March 20, 2025, at 4:30 p.m. To access the live webcast of the conference call, log onto the QCi website at https://quantumcomputinginc.com/ and click on the Investor Relations page. Investors may also access the webcast via the following link: https://www.webcaster4.com/Webcast/Page/3051/52052
To participate in the call by phone, dial (877) 545-0523 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0016. Callers should use access code: 605802.
A replay of the teleconference will be available until April 3, 2025, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 52052.
Quantum Computing Inc. (Nasdaq: QUBT) is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. QCi's products are designed to operate at room temperature and low power at an affordable cost. The Company's portfolio of core technologies and products offer unique capabilities in the areas of high-performance computing, artificial intelligence, and cybersecurity, as well as remote sensing applications.
Company Contact: Rosalyn Christian/John Nesbett IMS Investor Relations [email protected]
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, generally identified by terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," "aim to," or variations of these or similar words, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of QCi and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including the timing of commencing production at our TFLN fabrication facility, and the outcome of ongoing collaborations and demonstration projects with certain U.S. government agencies, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, QCi undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.
(summary only, click here for full text of notice): All information is unaudited unless otherwise noted or accompanied by an audit opinion and is subject to the more comprehensive information contained in our SEC reports and filings. We do not endorse third-party information. All information speaks as of the last fiscal quarter or year for which we have filed a Form 10-K or 10-Q, or for historical information the date or period expressly indicated in or with such information. We undertake no duty to update the information. Forward-looking statements are subject to risks and uncertainties described in our Forms 10-Q and 10-K.
(in thousands, except par value data)
December 31, 2024
| Assets | December 31, 2024 | December 31, 2023 |
|---|---|---|
| Current assets: | - | - |
| Cash and cash equivalents | $78,945 | $2,059 |
| Accounts receivable, net | 27 | 65 |
| Inventory | 18 | 73 |
| Loans receivable, net | - | 279 |
| Prepaid expenses and other current assets | 161 | 180 |
| Total current assets | 79,151 | 2,656 |