Fiscal Second Quarter 2025 Earnings Call Quantum. Your difference is in your data." Jamie Lerner Chairman and CEO Kenneth Gianella COO and CFO November 13, 2024 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 initiative, capital structure ...

Revenue and Profit - Revenue for fiscal Q2 2025 was $70.5 million, compared to $75.7 million in the prior year quarter, reflecting lower revenue from primary storage[3] - Total revenue for the three months ended September 30, 2024, was $70.469 million, a decrease from $75.680 million in the same period in 2023[17] - GAAP gross profit for Q2 2025 was $29.3 million, or 41.5% of revenue, compared to $32.7 million, or 43.3% of revenue in Q2 2024[3] - Gross profit for the three months ended September 30, 2024, was $29.268 million, down from $32.736 million in the same period in 2023[17] Net Loss and Adjusted EBITDA - GAAP net loss for Q2 2025 was $13.5 million, or ($2.82) per share, compared to a net loss of $3.3 million, or ($0.70) per share in Q2 2024[5] - Net loss for the three months ended September 30, 2024, was $13.527 million, compared to a net loss of $3.331 million in the same period in 2023[17] - Adjusted EBITDA for Q2 2025 was approximately breakeven at ($0.3) million, a $3.0 million improvement sequentially[6] - Adjusted EBITDA for the six months ended September 30, 2024, was $(3.391) million, compared to $3.164 million in the same period in 2023[27] - Net loss for the six months ended September 30, 2024, was $34.347 million, compared to $12.473 million in the same period in 2023[18] - GAAP net loss for the three months ended September 30, 2024, was $13.53 million, compared to $3.33 million in the same period in 2023[28] - GAAP net loss for the six months ended September 30, 2024, was $34.35 million, compared to $12.47 million in the same period in 2023[28] Subscription ARR - Subscription ARR increased 28% year-over-year to $19.6 million[1] Interest Expense and Debt - Total interest expense for Q2 2025 was $6.1 million, compared to $3.9 million in the same period last year[6] - Outstanding term loan debt as of September 30, 2024, was $104.7 million, compared to $87.9 million as of September 30, 2023[6] - Borrowings of long-term debt, net of debt issuance costs for the six months ended September 30, 2024, were $24.655 million, compared to $14.083 million in the same period in 2023[18] Cash and Cash Equivalents - Cash, cash equivalents, and restricted cash as of September 30, 2024, were $17.0 million, compared to $25.8 million as of September 30, 2023[6] - Cash and cash equivalents decreased to $16.719 million as of September 30, 2024, from $25.692 million as of March 31, 2024[16] - Cash, cash equivalents, and restricted cash at the end of the period for the six months ended September 30, 2024, were $16.960 million, compared to $25.754 million in the same period in 2023[18] Assets and Liabilities - Total assets as of September 30, 2024, were $163.146 million, down from $187.615 million as of March 31, 2024[16] - Accounts receivable decreased to $51.073 million as of September 30, 2024, from $67.788 million as of March 31, 2024[16] - Total current liabilities decreased to $134.601 million as of September 30, 2024, from $249.944 million as of March 31, 2024[16] - Deferred revenue, current portion, decreased to $69.369 million as of September 30, 2024, from $78.511 million as of March 31, 2024[16] Research and Development Expenses - Research and development expenses for the three months ended September 30, 2024, were $8.264 million, down from $9.152 million in the same period in 2023[17] Comprehensive Loss - Total comprehensive loss for the three months ended September 30, 2024, was $12.868 million, compared to $4.051 million in the same period in 2023[17] Operating Activities and Cash Flow - Net cash used in operating activities for the six months ended September 30, 2024, was $17.194 million, compared to $11.345 million in the same period in 2023[18] Stock-Based Compensation - Stock-based compensation expense for the six months ended September 30, 2024, was $1.641 million, compared to $2.831 million in the same period in 2023[18] - Stock-based compensation expense for the three months ended September 30, 2024, was $716 thousand, compared to $939 thousand in the same period in 2023[28] Depreciation and Amortization - Depreciation and amortization expense for the six months ended September 30, 2024, was $3.347 million, compared to $5.295 million in the same period in 2023[18] Loss on Debt Extinguishment - Loss on debt extinguishment for the six months ended September 30, 2024, was $3.003 million, compared to $0 in the same period in 2023[18] Non-Recurring Project Costs - Non-recurring project costs for the six months ended September 30, 2024, were $12.728 million, compared to $1.853 million in the same period in 2023[27] Adjusted Net Income (Loss) - Adjusted net income (loss) is a non-GAAP financial measure defined by the company as net loss before restructuring charges, stock-based compensation expense, amortization of acquisition-related intangible assets, loss on debt extinguishment, non-recurring project costs, and fair value of warrants adjustments[21] - Non-GAAP adjusted net loss for the three months ended September 30, 2024, was $8.74 million, compared to $4.38 million in the same period in 2023[28] - Non-GAAP adjusted net loss for the six months ended September 30, 2024, was $17.19 million, compared to $8.53 million in the same period in 2023[28] Adjusted Net Loss Per Share - Adjusted net loss per share – basic and diluted for the three months ended September 30, 2024, was $1.82, compared to $0.93 in the same period in 2023[28] - Adjusted net loss per share – basic and diluted for the six months ended September 30, 2024, was $3.59, compared to $1.81 in the same period in 2023[28] Restructuring Charges - Restructuring charges for the three months ended September 30, 2024, were $1.42 million, compared to $1.34 million in the same period in 2023[28] Fair Value of Warrants Adjustments - Fair value of warrants adjustments for the three months ended September 30, 2024, was a gain of $3.55 million, compared to a gain of $4.40 million in the same period in 2023[28] Weighted Average Shares - Weighted average shares – basic and diluted for the three months ended September 30, 2024, were 4.79 million, compared to 4.75 million in the same period in 2023[28] Future Expectations - For fiscal Q3 2025, the company expects revenue of $72.0 million, plus or minus $2.0 million, and adjusted EBITDA of approximately $2.0 million[7] - Non-GAAP adjusted basic net loss per share for Q3 2025 is expected to be ($0.75), plus or minus $0.05[7]

HOBOKEN, N.J., Nov. 13, 2024 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today announced that the Company has secured its first order for its thin film lithium niobate (TFLN) photonic chip foundry. The order, placed by a prominent research and technology institute based in Asia, underscores the growing global demand for QCi's advanced fabrication technology of TFLN and its ability to produce high-p ...

Melbourne, Victoria, Australia--(Newsfile Corp. - November 11, 2024) - The Board of Besra Gold Inc. (ASX: BEZ) (Besra or the Company) refers to recent reports regarding a petition for the winding-up by the High Court of Malaysia of Quantum Metal Sdn Bhd (incorporated in Malaysia) (QM Malaysia) that was presented by the Government of Malaysia (Petition).Quantum Metal Recovery Inc (being Besra's largest CDI holder and the contracting party for the Company's Gold Purchase Agreement) has advised Besra that QM ...

HOBOKEN, N.J., Nov. 6, 2024 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today released financial results for the three and nine-month periods ended September 30, 2024.Dr William McGann, Chief Executive Officer of QCi, commented, "Throughout the third quarter of 2024, we continued to make strategic progress across multiple fronts. Our ongoing development of our U.S.-based Thin Film Lithium Niobate ( ...

As far as copper goes, First Quantum Minerals ( OTCPK:FQVLF ) (TSX: FM:CA ) ("FQ") has frequently been in the news over the past year. As most readers are probably aware, it was forced to shut downAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alp ...

I previously covered First Quantum Minerals ( OTCPK:FQVLF ) (TSX: FM:CA ) earlier this year where I gave the shares a buy rating for adventurous investors willing to be exposed to the uncertainty surrounding the company’s largest asset, the CobreMountain Valley Value Investments specializes in identifying undervalued companies with strong growth potential across various sectors. Focused on long-term value and buying at the right price, we leverage deep industry insights and rigorous analysis to uncover oppo ...

Quantum eMotion Corp. Featured in Prominent Korean Business Newspaper for Leading IoT Security SolutionsOctober 31, 2024 9:41 AM EDT | Source: Quantum eMotion Corp.Montreal, Quebec--(Newsfile Corp. - October 31, 2024) - Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) ("QeM" or the "Company") proudly announces its feature in the latest column of the Korea Business Herald, one of Asia's most influential business publications. The article, written by Arthur Herman, senior fellow at the Hudson In ...

BERKELEY, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Rigetti (Nasdaq: RGTI), a pioneer in full-stack quantum-classical computing, announced the successful demonstration of real-time and low latency quantum error correction on a Rigetti quantum computer. Fault tolerance is the point at which lengthy operations can execute without a single error, due to the application of quantum error correction. Reaching this stage, and in turn realizing the full potential of quantum computers, will require the co-developmen ...

The UK's National Quantum Computing Centre (NQCC) officially opened the doors of its landmark facility on Harwell Campus on October 25. The state-of-the-art facility includes a fully operational 24-qubit Ankaa™-class Rigetti system, which will be made available to NQCC researchers for testing, benchmarking, and exploratory applications development. LONDON, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Rigetti UK Limited, a wholly owned subsidiary of Rigetti Computing, Inc. (Nasdaq: RGTI) ("Rigetti" or the "Company"), a ...