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Quantum Computing Inc. Common - QUBT STOCK NEWS

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Quantum Computing Inc. (QCi), trading under the symbol QUBT, is an American company specializing in quantum computing and artificial intelligence software development. QCi focuses on creating heterogeneous software that can run on various quantum platforms. The company is headquartered in Leesburg, Virginia, and is known for its innovative approach to delivering quantum products for high-performance computing applications. QCi's products operate at room temperature, use low power, and are cost-effective. The company's portfolio includes a financial portfolio optimizer, which helps financial advisors and investment managers make optimal investment decisions, and cybersecurity applications.

Recently, QCi announced a successful partnership with NASA, where they have been awarded a project to denoise LiDAR spectral information using their proprietary Entropy Quantum Computing (EQC). This project aims to enhance NASA's capabilities to measure the physical properties of clouds and aerosols in lower earth orbit. QCi's Chief Executive Officer, Dr. William McGann, expressed excitement about the project and highlighted the potential of their upcoming launch of the Dirac-3, a high-dimensional Entropy Quantum Machine.

In addition to their work with NASA, QCi recently commercialized their quantum optimization platform, Dirac-3, designed to address complex problems with larger numbers of variables. The Dirac system is the first of its kind to natively solve integer problems using quantum digits (qdits), expanding the use of quantum technology in optimization solutions. This innovative product has garnered interest from various industries, including healthcare, financial services, supply chain, and autonomous vehicles.

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Quantum Computing Inc. (QUBT) reported its Q2 and H1 2024 financial results. Key highlights include:

- Q2 2024 revenue: $183,000 (32% gross margin), up from $112,000 in Q2 2023

- Q2 2024 operating expenses: $5.3 million, down 24% year-over-year

- Net loss: $5.2 million ($0.06 per basic share) vs $7.6 million ($0.12 per basic share) in Q2 2023

- Cash and cash equivalents: $2.5 million as of June 30, 2024

- Total assets: $76.0 million

- Shareholders' equity: $65.5 million

Operational highlights include progress on establishing a U.S.-based Thin Film Lithium Niobate foundry, a $200,000 quantum LiDAR prototype sale to Johns Hopkins University, and enhanced sales strategy with key appointments. The company also regained compliance with Nasdaq and SEC reporting requirements.

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Quantum Computing Inc. (QCi) (Nasdaq: QUBT) has extended its Cooperative Research and Development Agreement (CRADA) with Los Alamos National Laboratory (LANL). The collaboration focuses on QCi's new Dirac-3 entropy quantum optimization machine, designed to solve complex problems in quantum simulations, social networks, protein structure prediction, and telecommunications.

Dirac-3 is the first machine of its kind to address high-dimensional discrete variables with multi-body interactions using nonlinear quantum optics. QCi's CEO, Dr. William McGann, highlighted Dirac-3's capabilities in solving complex real-world problems in energy grid management, offshore wind optimization, and signal processing applications.

QCi is also working on projects for NASA and has CRADAs with the U.S. Department of Defense. The company aims to provide accessible and affordable quantum machines that operate at room temperature and low power.

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Quantum Computing Inc. (QUBT) has filed its Form 10-K/A for fiscal years 2023 and 2022, completing a restatement of its financial statements. The restatement, conducted with new auditor BPM LLP, resulted in no material impact on cash balances or operating cash flows. Key adjustments include corrections to purchase accounting, preferred dividends, and stock-based compensation. For 2023, the restatement led to a 9% decrease in net loss to $27,022,000 and a 6% decrease in total assets to $74,355,000. The company expects to file Q1 and Q2 2024 Form 10-Qs soon to regain Nasdaq compliance.

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Quantum Computing Inc. (NASDAQ: QUBT) has received a non-compliance notice from Nasdaq for failing to timely file its Q2 2024 10-Q report. The company has until December 16, 2024 to regain compliance by filing both Q1 and Q2 2024 10-Qs, or face potential delisting. The delay is attributed to a recent change in auditors, with BF Borgers CPA PC dismissed on May 3, 2024, following an SEC order, and BPM LLP appointed on June 6, 2024. QCi expects to file the overdue reports soon after BPM completes the audit of the 2023 fiscal year financials. The company remains confident in regaining full compliance before the deadline.

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Quantum Computing Inc. (QCi) (Nasdaq: QUBT) has released a mid-year business update highlighting its strategic progress. Key developments include:

1. Establishing the first U.S.-based Thin Film Lithium Niobate (TFLN) fabrication facility in Tempe, Arizona, scheduled for Q4 2024.

2. Finalizing two new high-performance computing platforms and a broad remote sensing platform for LiDAR applications.

3. Launching an 'Accessible and Affordable' marketing campaign for its Dirac-3 computer, emphasizing its competitive price, compact size, and low energy consumption.

4. Appointing Richard Nelson as SVP of Business Development and Pouya Dianet as Director of TFLN Optical Chip Sales.

5. Selecting BPM LLP as its new auditor and engaging IMS Investor Relations to enhance financial transparency and investor communications.

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Quantum Computing Inc. (NASDAQ: QUBT) has received a non-compliance notice from Nasdaq due to the late filing of its quarterly report for the period ending March 31, 2024. The company has until August 23, 2024, to submit a plan to regain compliance. If accepted, QCi could have up to 180 days to meet the requirements, delaying potential delisting until December 16, 2024. The delay follows the dismissal of their previous auditor, BF Borgers, and the appointment of BPM LLP on June 6, 2024. QCi plans to file the report soon after BPM completes its audit of the 2023 financial statements. This notice is in line with Nasdaq Listing Rule 5810(b). Quantum Computing Inc. focuses on quantum optics and nanophotonics technology, offering products in high-performance computing, AI, cybersecurity, and remote sensing.

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Quantum Computing Inc. (QCi) (Nasdaq: QUBT) reported its preliminary, unaudited financial results for Q1 2024. Revenue was approximately $27,000 with a gross margin of 42%. Operating expenses decreased by 18% YoY to $6.4 million, and net loss reduced to $6.9 million from $8.5 million in Q1 2023. R&D expenses remained stable at $1.4 million. The company saw a decrease in selling, general, and administrative expenses by 25% YoY. Total assets increased to $83.1 million, cash reserves rose to $6.1 million, and total liabilities decreased to $3.8 million. As of March 31, 2024, QCi had a positive stockholders' equity of $79.3 million, an 8.2% increase from December 31, 2023.

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Quantum Computing Inc. (QCi) appoints Dr. Javad Shabani, an expert in quantum computing technologies, to its Board of Directors. Dr. Shabani's expertise will support QCi's technology and product strategy for new quantum systems. QCi aims to provide accessible and affordable quantum machines for computing, machine learning, and remote sensing applications.

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Quantum Computing, Inc (QCi) announces the successful sale of its quantum LiDAR prototype to Johns Hopkins University for $200,000, marking a significant advancement in underwater LiDAR technology. The system offers unparalleled precision with a resolution of 3mm and operates at depths of up to 30 meters. QCi's unique quantum LiDAR system enables quantum measurements that elevate information gathering to new heights, facilitating pivotal environmental and oceanographic studies.
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Quantum Computing, Inc (QCi) announced the commercialization of Dirac-3 Entropy Quantum Computer, a nanophotonic machine solving complex problems using nonlinear quantum optics. Dirac is the first system to solve integer problems with quantum digits, expanding quantum technology's applications. The market for quantum optimization machines is growing, with QCi securing contracts like NASA's for LiDAR analysis. Dirac is priced at $300,000 per device, targeting various industries.
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FAQ

What is the current stock price of Quantum Computing Common (QUBT)?

The current stock price of Quantum Computing Common (QUBT) is $18.19 as of December 23, 2024.

What is the market cap of Quantum Computing Common (QUBT)?

The market cap of Quantum Computing Common (QUBT) is approximately 2.2B.

Where is Quantum Computing Inc. headquartered?

Quantum Computing Inc. is headquartered in Leesburg, Virginia.

What products does Quantum Computing Inc. develop?

QCi focuses on creating heterogeneous software for various quantum platforms. Their portfolio includes a financial portfolio optimizer and cybersecurity applications.

What recent achievement did Quantum Computing Inc. announce?

Recently, QCi partnered with NASA and was awarded a project to denoise LiDAR spectral information using their proprietary Entropy Quantum Computing (EQC) technology.

What is the Dirac-3 quantum optimization platform?

The Dirac-3 is a quantum machine developed by QCi to solve complex problems with a large number of variables. It is the first system of its kind to natively solve integer problems using quantum digits (qdits).

What industries are interested in Quantum Computing Inc.'s products?

Industries such as healthcare, financial services, supply chain, and autonomous vehicles have shown interest in QCi's quantum technology solutions.

Quantum Computing Inc. Common

Nasdaq:QUBT

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QUBT Stock Data

2.20B
94.17M
22.26%
3.39%
11.65%
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