Quantum Computing Inc
NASDAQ:QUBT
Quantum Computing Inc
Quantum Computing, Inc. is a technology company, which focuses on developing novel algorithms and solutions utilizing quantum and quantum-inspired computing to solve difficult problems in various industries. The company is headquartered in Leesburg, Virginia and currently employs 25 full-time employees. The company went IPO on 2018-02-01. The firm is focused on providing software tools and applications for quantum computers. The firm's product, Qatalyst enables developers to create and execute quantum-ready applications on conventional computers using its cloud-based solution. Qatalyst offers features, including quantum-ready engines tuned for complex computations, transparent abstraction from quantum hardware variance, Qatalyst Core, Q Graph, and Qontrol. Qatalyst manages the workflow, optimizations, and results, without any further intervention by the user. Qatalyst is integrated with the Amazon Cloud BRAKET Application Programming Interfaces (API), offering access to multiple Quantum Processing Units (QPUs) including DWave, Rigetti, and IonQ. Qatalyst also integrates directly with IBM’s QPUs.
Quantum Computing, Inc. is a technology company, which focuses on developing novel algorithms and solutions utilizing quantum and quantum-inspired computing to solve difficult problems in various industries. The company is headquartered in Leesburg, Virginia and currently employs 25 full-time employees. The company went IPO on 2018-02-01. The firm is focused on providing software tools and applications for quantum computers. The firm's product, Qatalyst enables developers to create and execute quantum-ready applications on conventional computers using its cloud-based solution. Qatalyst offers features, including quantum-ready engines tuned for complex computations, transparent abstraction from quantum hardware variance, Qatalyst Core, Q Graph, and Qontrol. Qatalyst manages the workflow, optimizations, and results, without any further intervention by the user. Qatalyst is integrated with the Amazon Cloud BRAKET Application Programming Interfaces (API), offering access to multiple Quantum Processing Units (QPUs) including DWave, Rigetti, and IonQ. Qatalyst also integrates directly with IBM’s QPUs.
Revenue Growth: Q3 revenue increased significantly to $384,000 from $101,000 last year, driven by more R&D and hardware contracts, including new cloud-based quantum system access.
Strong Capital Raises: The company raised $500 million in Q3 and another $750 million after the quarter, giving it over $1.5 billion in total capital for future growth and manufacturing expansion.
Profitability Achieved: QSI reported net income of $2.4 million in Q3, a turnaround from a $5.7 million loss in the same period last year, mainly due to a $9.2 million gain from derivative liability and $3.5 million in interest income.
Manufacturing Progress: Fab 1 is fully operational and delivering on over 10 foundry service orders; plans are underway for Fab 2, aiming to enable hundreds of millions of chips per year.
Growing Commercial Momentum: The company recorded sales to a major U.S. bank for quantum security, continued work with NASA, and is seeing rising interest from global partners in telecom, finance, and defense.
Strategic Partnerships & M&A: Active collaborations with Poet Technologies and others are underway, and QSI is evaluating acquisitions to advance its technology and market reach.
Expanding Global Reach: While most business is U.S.-focused, QSI has started international sales in Europe, Korea, and Singapore, and is pursuing more overseas opportunities.
