Quantum Computing Inc. Posts $5.6 Million Q2 Revenue, Backlog Reaches $42.5 Million
Updated
Updated · Pulse 2.0 · Aug 20
Quantum Computing Inc. Posts $5.6 Million Q2 Revenue, Backlog Reaches $42.5 Million
1 articles · Updated · Pulse 2.0 · Aug 20
Summary
$5.6 million in Q2 revenue marked a jump from $61,000 a year earlier and $3.7 million in Q1, with photonics products for aerospace, government and industrial customers driving most sales.
$42.5 million of backlog at June 30—about 7.6 times quarterly revenue—gave QCi a larger contracted base as its photonics, semiconductor-manufacturing and quantum businesses begin contributing more commercially.
Commercial progress included delivery of a Dirac-3 quantum optimization machine to a global consulting firm and deployment readiness for NeuraWave, with a Planck Dynamics framework carrying potential value above $10 million.
$180 million of acquisition spending still left QCi with about $1.3 billion in cash, cash equivalents and investments after buying NHanced, Luminar Semiconductor and NuCrypt, expanding its manufacturing and photonic-integration footprint.
Operating expenses rose 114% to $21.8 million, but net loss narrowed to $11.8 million from $36.5 million, leaving the company with a fast-growing yet still small commercial base relative to its balance sheet.