Similarly, quantum computers require an immense amount of power and complexity. The most contemporary of them are leveraged in scientific research, but due to their size, have yet to reach commercial status. Migrating quantum workloads to the cloud has been a keyway in which to offer quantum computing power to developers and researchers in the field. Alphabet (GOOG, GOOGL) In fact, Google has been exploring and investing in quantum research since around the late 2000s. Google's experience in artificial inte ...

Revenue and Profit - Product gross profit for 2024 was $38,459,000, a decrease of $16,364,000 or 29.8% from 2023, with a gross margin of 22.0% compared to 19.9% in the previous year[7] - Service and subscription gross profit increased to $76,299,000, up $1,563,000 or 2.1%, with a gross margin of 60.3%, improving from 56.0%[7] - Total gross profit for 2024 was $124,889,000, down $18,375,000 or 12.8%, with an overall gross margin of 40.1%, compared to 33.9% in 2023[7] - Total revenue for the three months ended September 30, 2023, was $75,680 thousand, a decrease of 25% from $100,565 thousand in the same period of 2022[38] - Product revenue decreased by 33% to $42,947 thousand, while service and subscription revenue decreased by 7% to $30,505 thousand[38] - Total revenue for the six months ended September 30, 2023, was $168,174 thousand, a decrease of 16% from $199,398 thousand in the same period of 2022[45] - Service and subscription revenue for the six months ended September 30, 2023, was $61,458 thousand, down 8% from $66,782 thousand in the same period of 2022[45] - Total revenue for the nine months ended December 31, 2023, was $240.1 million, a decrease of $72.8 million or 23% compared to $312.9 million in the same period of 2022[89] - Product revenue decreased by $64.6 million, or 32%, to $138.6 million for the nine months ended December 31, 2023, primarily due to lower demand from large hyperscale customers[90] Expenses and Losses - Operating expenses totaled $159,946,000 for 2024, a slight decrease of $929,000 or 0.6% from 2023, representing 38% of revenue[21] - Research and development expenses decreased by $7,257,000 or 14% to $44,555,000 in 2023, representing 11% of revenue[21] - Operating expenses totaled $77.2 million for the six months ended September 30, 2023, a decrease of $2.9 million or 4% compared to $80.1 million in the same period of 2022[100] - Total operating expenses were $35.397 million for the three months ended December 31, 2023, a decrease of $3.124 million, or 8%, compared to the same period in 2022[116] - General and administrative expenses increased by $0.9 million, or 8%, to $11.893 million for the three months ended December 31, 2023, primarily due to higher project expenses[116] - Research and development expenses decreased by $2.5 million, or 22%, to $8.763 million for the three months ended December 31, 2023, driven by cost reduction measures[117] - Interest expense increased to $15,089,000 in 2024, up $4,529,000 or 43% from $10,560,000 in 2023, representing 5% of revenue[11] - Interest expense increased by 40% to $3,855 thousand, compared to $2,745 thousand in the same period of 2022[43] - Interest expense increased by $2.2 million, or 46%, for the six months ended September 30, 2023, due to a higher effective interest rate on the Term Loan[50] - Interest expense increased by $1.2 million, or 46%, to $3.9 million for the three months ended December 31, 2023, due to a higher effective interest rate on the Term Loan[87] Cash Flow and Financing - Net cash used in operating activities was $10.2 million for the year ended March 31, 2024, primarily due to lower revenue and timing of vendor payments[24] - Net cash provided by financing activities was $15.7 million for the year ended March 31, 2024, primarily due to borrowings under the Term Loan credit facility[26] - Net cash used in operating activities was $10,156 thousand, compared to $4,894 thousand in the same period of 2022[33] - Net cash used in operating activities was $4.9 million for the year ended March 31, 2023, primarily due to working capital changes[53] - Net cash used in investing activities was $15.6 million for the year ended March 31, 2023, mainly from capital expenditures of $12.6 million[54] - The company had cash and cash equivalents of $25.7 million as of March 31, 2024, with total outstanding Term Loan debt of $87.9 million[52] Tax and Valuation - The company has established a full valuation allowance against its U.S. and certain foreign net deferred tax assets due to a history of net losses[37] - The company has established a full valuation allowance against its U.S. and certain foreign net deferred tax assets due to uncertainty in realizing future taxable income[88] - The company reevaluates uncertain tax positions quarterly, based on changes in facts, circumstances, and tax law[148] Inventory and Assets - Service parts inventories are recorded at the lower of cost or net realizable value, with adjustments made based on product life cycles and warranty service contracts[150] - The company may record adjustments to the estimated fair value of acquired assets and liabilities during a measurement period of up to one year from the acquisition date[151] - The company reported total debt obligations of $114.546 million and future lease commitments of $21.127 million as of December 31, 2023[144] Market and Risk Factors - The company has exposure to foreign currency risk due to operations in international markets, affecting transaction gains or losses recognized in financial statements[155] - The company expects to be in violation of its net leverage covenant as of the June 30, 2024 testing date, which could trigger defaults on outstanding balances[82] - Total current liabilities increased to $249.9 million as of March 31, 2024, compared to $157.9 million in the previous year[61] - The company is evaluating strategies to obtain additional funding, including potential asset sales, to improve liquidity[82] Revenue Sources - The company’s revenue is derived from three main sources: products, service and subscription, and royalties[146]

HOBOKEN, N.J., June 27, 2024 /PRNewswire/ -- Quantum Computing Inc. (NASDAQ: QUBT) ("QCi" or the "Company"), an innovative quantum optics and nanophotonics technology company, today announced that it received a notice (the "Notice") from Nasdaq Stock Market LLC ("Nasdaq") that the Company had failed to satisfy a standard for continued listing, Nasdaq Listing Rule 5250(c)(1), because the Company did not timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024 (the "Form 10-Q" ...

Despite hard challenges in the form of noise, error rates, qubit coherence, and scaling, quantum computing stocks to buy now remain enticing enough to continue attracting capital. Unlike traditional computers, quantum computers can simultaneously hold 0 and 1 states. According to analysts, the global quantum computing market size is estimated at $1.3 billion in 2024. But it is poised for a CAGR of 32.7%, bringing it to $5.3 billion by 2029. Of course, major technological breakthroughs are not predictable, w ...

BOSTON, June 20, 2024 (GLOBE NEWSWIRE) -- Zapata Computing Holdings Inc. ("Zapata AI" or the "Company") (Nasdaq: ZPTA), the Industrial Generative AI company, today announced that it has published and will present to the Defense Advanced Research Projects Agency (DARPA) select research findings — alongside its collaborators Rigetti Computing, University of Southern California, HRL Laboratories and L3Harris — from its participation in Phase II of DARPA's Quantum Benchmarking program. Publication of these resu ...

While Zapata AI may elect to update these forward-looking statements at some point in the future, Zapata AI specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Zapata AI's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. BOSTON, June 18, 2024 (GLOBE NEWSWIRE) -- Zapata Computing, Inc. ("Zapata AI") (Nasdaq: ZPTA), the Industrial ...

With the addition of Synopsys products, Quantum Leap Solutions expands its extensive offerings in Automotive, HPC, AI, Data Center and Mixed-Signal for applications including Radar, LiDAR, Functional Safety / Automotive, and wireless / mmwave and RF ICs. About Quantum Leap Solutions: This partnership leverages QLS's extensive market presence with Synopsys' industry leading technologies, opening new avenues for the accessibility of cutting-edge electronic design tools and semiconductor IP. QLS, with its trac ...

That report starts with the company's adjusted earnings per share of -29 cents for the year. That's down from the adjusted EPS of 3 cents per share reported by the company during fiscal 2023. QMCO Stock Drops on Guidance Read More:Penny Stocks — How to Profit Without Getting Scammed Adding to that is its revenue of $311.6 million for fiscal 2024. That's below the single $350 million estimate from Wall Street. It's also a 26.2% decrease year-over-year from $422.1 million. Things aren't looking much better fo ...

Quantum Corporation (NASDAQ:QMCO) Q4 2024 Earnings Conference Call June 17, 2024 5:00 PM ET Company Participants Brian Cabrera - Chief Administrative Officer James Lerner - Chairman, President & CEO Kenneth Gianella - CFO Conference Call Participants Eric Martinuzzi - Lake Street Capital Markets Nehal Chokshi - Northland Capital Markets Operator Welcome to Quantum's Fiscal Full Year 2024 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A brief ...

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 ...