Quantum puting (US:QUBT)2025-11-14 21:13Financial Performance - Third quarter 2025 revenues totaled approximately $384,000, a 280% increase year-over-year from $101,000 in Q3 2024, with a gross margin of 33%[5] - The company reported a net income of $2.4 million, or $0.01 per basic share, compared to a net loss of $5.7 million, or a loss of $0.06 per basic share in the same period last year[5] - Total assets increased to $898.2 million as of September 30, 2025, up from $153.6 million at year-end 2024[5] - Cash and cash equivalents rose by $273.5 million to $352.4 million from year-end 2024, with total investments at $460.6 million[5] - Operating expenses for Q3 2025 were $10.5 million, up from $5.4 million in Q3 2024, reflecting continued investment in R&D and engineering[5] Capital Raising - The company raised gross proceeds of $500 million through a private placement of common stock during the third quarter and an additional $750 million post-quarter[5] Business Development - QCi achieved a purchase order from a top 5 U.S. bank for its quantum security solutions, marking its first commercial sale in this sector[8] - The company is advancing its collaboration with NASA to develop quantum-based techniques for atmospheric sensing using its Dirac-3 quantum optimization machine[8] - QCi's photonic chip foundry in Tempe, Arizona, is stabilizing production processes and ramping up small-batch manufacturing to fulfill early customer orders[8] - The company continues to expand its engineering and operations teams to support long-term growth and execution of its scalable manufacturing roadmap[8]