Financial Data and Key Metrics Changes - Revenue for fiscal year 2024 was $311.6 million, a decrease of approximately 26% year-over-year, primarily due to the largest hyperscaler customer discontinuing new system orders [45][62] - GAAP gross margin increased by 614 basis points to 40% compared to the prior year, reflecting proactive actions in manufacturing and services [46] - GAAP net loss for fiscal 2024 was $41.3 million, or a loss of $0.43 per share, compared to a loss of $18.4 million or $0.20 per share in the prior year [46][62] - Non-GAAP adjusted net loss for fiscal 2024 was $27.5 million, or $0.29 loss per share, compared to a gain of $3.2 million, or $0.04 gain per share in the prior year [47] Business Line Data and Key Metrics Changes - The company reported a significant decline in revenue from its largest hyperscaler customer, which impacted overall performance [45][62] - ActiveScale was noted as the fastest-growing product in the portfolio, with a near 100% attach rate when sold with Myriad [22] - Subscription revenue increased approximately 33% year-over-year to approximately $17.8 million, with total annual recurring revenue (ARR) for FY 2024 at $144.9 million, representing about 46% of total revenue [51] Market Data and Key Metrics Changes - The company experienced a decline in revenue from tape media and LTO royalty payments, partially offset by increases in primary and ActiveScale solutions [45] - The company anticipates a slight uptick in revenue from primary storage business in Q2, following a headwind from hyperscale revenue in Q1 [25] Company Strategy and Development Direction - The company is focused on improving its capital structure and reducing debt, including selling non-core assets to strengthen its balance sheet [49][64] - Strategic initiatives include enhancing operational efficiencies, streamlining the sales organization, and expanding partnerships in key markets [66][67] - The launch of Quantum GO, a subscription model, aims to meet growing data management needs and drive revenue growth [69] Management's Comments on Operating Environment and Future Outlook - Management expressed disappointment with the fiscal 2024 results but emphasized a commitment to business transformation and operational improvements [62][63] - The company expects to stabilize its legacy business while driving growth in higher-margin products like ActiveScale and Myriad [77] - Management anticipates adjusted EBITDA to turn positive in Q2 and expects to achieve cash flow from operations positivity in the back half of the fiscal year [79][80] Other Important Information - The company is in the process of restating its financial statements for previous periods due to accounting adjustments related to standalone selling price and warrant classifications [15][43] - Cash, cash equivalents, and restricted cash as of fiscal year ending March 31, 2024, were approximately $25.9 million, with outstanding debt of $87.9 million [48] Q&A Session Summary Question: What is the timing for audited results? - Management expects to have audited results out to shareholders within a few days, with a commitment to have it by July 1st [37] Question: What can be said about the decision-making process of the large hyperscaler customer? - The customer opted for a custom solution that did not align with the company's product model, leading to a significant revenue impact [38][39] Question: Are there plans for further sales of non-core assets? - Management indicated that they are actively looking for follow-on opportunities to monetize non-core assets to focus on strategic growth areas [42] Question: When will adjusted EBITDA turn positive? - Management anticipates adjusted EBITDA to be positive in Q2 and beyond, driven by cost containment and management [79][80]

Quantum. Your difference is in your data." June 17, 2024 QMCO Earnings Presentation – FQ4'24 | 2 Opening Remarks Business Update Call Jamie Lerner Chairman and CEO Kenneth Gianella CFO Safe Harbor Statement and Use of Non-GAAP Financial Information © 2024 Quantum Corporation Safe Harbor Statement. Our presentation today contains forward-looking statements about the Company's plans, strategies, goals, target, and prospects including the company's cost reduction initiative and expected benefits of such initia ...

Financial Performance - Adjusted EBITDA for the year ended March 31, 2024, was $(5.304 million), compared to $21.142 million in 2023 [38] - Net loss for the year ended March 31, 2024, was $(41.286 million), compared to $(18.368 million) in 2023 [38] - Adjusted net income (loss) for the year ended March 31, 2024, was $(27.514 million), compared to $3.167 million in 2023 [39] - Adjusted net income (loss) per share – basic for the year ended March 31, 2024, was $(0.29), compared to $0.04 in 2023 [39] - Adjusted net income (loss) per share – diluted for the year ended March 31, 2024, was $(0.29), compared to $0.03 in 2023 [39] Share Metrics - Weighted average shares – basic for the year ended March 31, 2024, were 95,087, compared to 90,348 in 2023 [39] - Weighted average shares – diluted for the year ended March 31, 2024, were 95,087, compared to 91,188 in 2023 [39] Expenses and Charges - Stock-based compensation expense for the year ended March 31, 2024, was $4.721 million, compared to $10.750 million in 2023 [38] - Restructuring charges for the year ended March 31, 2024, were $4.019 million, compared to $2.178 million in 2023 [38] - Non-recurring project costs for the year ended March 31, 2024, were $4.895 million, compared to $0 in 2023 [38]

While the technology offers myriad innovations, investors ought to earmark the top quantum computing stocks for the speculative long-term section of their portfolio. Fundamentally, it all comes down to the projected relevance. Granted, with every pioneering space comes high risks. If you're willing to accept the heat, these are the top quantum computing stocks to consider. To be sure, Honeywell (NASDAQ:HON) isn't exactly what you would call a direct player among top quantum computing stocks. Rather, the com ...

Quantum computing, with its unparalleled data processing speed, has the potential to usher in a new era in tech. Moreover, the synergy between AI and quantum computing will elevate millionaire-maker quantum computing stocks to new heights. The industry is likely to achieve these kinds of returns as a result of becoming a new critical technology at the center of data processing and connection. Moreover, quantum tech is leaving traditional silicon-based systems in the dust. Beyond this, some of the most influ ...

All of which could fuel big upside for quantum computing stocks. Helping, QBTS has a consensus "strong buy" rating from four analysts, with an average price target of $3. And, the stock is set to join the Russell 3000 Index on July 1, which will give it even more exposure to investors. In addition, not long ago, analysts at Needham initiated coverage of QBTS with a "buy" rating and a price target of $2.50. Source: Boykov / Shutterstock.com Two, some of 71 holdings include MicroStrategy (NASDAQ:MSTR), Nvidia ...

HOBOKEN, N.J., June 11, 2024 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, quantum optics and nanophotonics technology company, today released in an effort to be transparent its preliminary, unaudited financial results for the three-month period ended March 31, 2024. QCi also announced that it has engaged BPM LLP as the Company's new independent registered public accounting firm. Additional details of the Company's financial results are included in our Curren ...

Red Cloud is a Toronto-based financial services company that listed companies with accessing capital markets and enhancing their corporate profile. Under the agreement, the Corporation will pay Red Cloud $5,000 per month during the term, payable quarterly upfront in advance for the first 3 months and thereafter monthly. There are no performance factors contained in the agreement between Red Cloud and the Corporation and Red Cloud will not receive any shares or options from the Corporation as compensation fo ...

Visiongain has published a new report entitled Quantum Communication Market Report 2024-2034: Forecasts by Type (Free-Space QC, Fibre-Based QC), by Component (Hardware, Software, Services), by Application (Quantum Secure Messaging, Quantum Internet, Quantum Computing Networks, Other), by Product Type (Quantum Repeaters and Transceivers, Quantum Sensors, Quantum Cryptography Software, Quantum Network Management Software, Other), by End-users (IT and Cybersecurity, Banking and Finance, Government and Defence, ...

The Nasdaq Composite, which holds a number of big-name tech stocks, experienced a bit of selling pressure last week. In particular, the index fell nearly 2%. This potentially creates an opening for savvy investors to buy up shares of stocks that appear undervalued. One growth sector worth looking into would be quantum computing. Most people by now are familiar with generative artificial intelligence (AI) technologies, such as OpenAI's ChatGPT. This led us to creating this list of undervalued quantum computi ...