Accessibility StatementSkip Navigation VANCOUVER, BC, Sept. 17, 2025 /PRNewswire/ - BTQ Technologies Corp. (the "Company" or "BTQ") ("BTQ" or the "Company") (CBOE CA: BTQ) (FSE: NG3) (OTCQX: BTQQF), a global quantum technology company focused on securing mission-critical networks, is pleased to announce peer-reviewed research result with Macquarie University published in Physical Review Research. The collaboration shows a practical way to perform quantum error correction on high-performing quantum low dens ...

Summary of IonQ 2025 Analyst Day Company Overview - **Company**: IonQ (NYSE: IONQ) - **Industry**: Quantum Computing and Networking Key Points and Arguments 1. **Market Leadership**: IonQ claims to have led the quantum computing market for nearly thirty years and aims to continue this leadership for the next thirty years [2][4][8] 2. **Technological Advancements**: The company has demonstrated Quantum Advantage twice in 2025 with partners like NVIDIA and AstraZeneca, showcasing significant progress in quantum computing capabilities [4][25] 3. **Regulatory Approval**: IonQ has received regulatory approval for its merger with Oxbryonics, which is expected to enhance its technological roadmap and market position [5][9] 4. **Patent Portfolio Growth**: IonQ's patent portfolio has grown from approximately 35 patents at IPO to 1060 patents, indicating strong innovation and intellectual property development [6] 5. **Error Correction and Fidelity**: IonQ emphasizes its superior hardware that minimizes the need for error correction, achieving high fidelity records in quantum computing [7][15] 6. **Computational Space**: The AQ64 system prototype is reported to be 36 times larger in computational space than any system IBM has publicly unveiled, highlighting IonQ's technological edge [8][16] 7. **Cost Efficiency**: IonQ claims its cost of goods sold for a fully fault-tolerant system is under $30 million, significantly lower than competitors, which are described as orders of magnitude more expensive [15][67] 8. **Future Roadmap**: IonQ plans to deliver 2 million physical qubits by the end of the decade, which is five years ahead of competitors [46][47] 9. **Quantum Networking**: The company is also focusing on quantum networking, which is seen as essential for cybersecurity in the face of evolving threats from quantum computing [30][88] Additional Important Content 1. **Sovereignty in Computing**: IonQ highlights the growing demand for sovereign systems in quantum computing, which aligns with geopolitical trends favoring national control over technology [14] 2. **Quantum AI and Machine Learning**: The potential for quantum machine learning and AI is emphasized, with expectations of significant cost advantages over classical systems [28][29] 3. **Strategic Talent Acquisition**: IonQ has recruited top talent from various sectors to drive technical and commercial advancements, enhancing its competitive position [20] 4. **Benchmarking and Performance Metrics**: IonQ is anchoring its roadmap against benchmarks like algorithmic qubits, which measure the number of useful qubits in a system [42] 5. **Quantum Security Solutions**: The acquisition of ID Quantique is aimed at enhancing quantum security solutions, addressing the urgent need for robust cybersecurity in a quantum future [87][88] Conclusion IonQ is positioned as a leader in the quantum computing and networking industry, with a strong focus on technological advancements, cost efficiency, and strategic partnerships. The company is preparing for significant growth and market expansion in the coming years, driven by its innovative technologies and a robust roadmap.

Core Insights - D-Wave Quantum Inc. (QBTS) has experienced a remarkable growth of 1,343.6% over the past year, indicating strong investor confidence in its quantum annealing technology [1][7] - The company is focusing on practical applications of quantum technology, particularly in optimization problems, which sets it apart from competitors like IBM and Alphabet [2][5] Company Performance - D-Wave's Advantage2 prototype has demonstrated quantum advantage by completing complex tasks in minutes, which would take classical supercomputers millennia [5][7] - The Leap cloud platform and partnerships with companies such as Ford Otosan and NTT DOCOMO are generating real commercial value for D-Wave [5][7] Industry Context - IBM is developing its Quantum Starling, a fault-tolerant quantum computer expected to launch by 2029, which will significantly enhance operational capabilities [6] - Alphabet's Willow processor has achieved a milestone in quantum error correction, with expectations for real-world applications in the next five years [8] Financial Estimates - The Zacks Consensus Estimate for D-Wave's 2025 earnings suggests a 72% year-over-year improvement [9] - Current estimates indicate a gradual improvement in earnings per share (EPS) from -0.10 a year ago to -0.21 in 2025, with a projected growth of 30% for the current quarter and 45.45% for the next quarter [10]

Financial Data and Key Metrics Changes - Revenues in Q1 2025 were $1,500,000, down from $3,100,000 in Q1 2024, indicating a significant decline [12] - Gross margins decreased to 30% in Q1 2025 from 49% in Q1 2024, primarily due to lower margin revenues from a contract with the UK's NQCC [12] - Total operating expenses (OpEx) increased to $22,100,000 in Q1 2025 from $18,100,000 in the same period last year, driven by salary increases, new hires, and higher stock compensation expenses [13] - The operating loss for Q1 2025 was $21,600,000, compared to $16,600,000 in the prior year [13] - The company recorded a net income of $42,600,000 in Q1 2025, a turnaround from a net loss of $20,800,000 in Q1 2024, largely due to favorable non-cash changes in derivative warrant and earn-out liabilities [14] Business Line Data and Key Metrics Changes - The company is focusing on advancing its utility scale quantum computer concept, collaborating with Riverlane on quantum error correction technology [4][5] - The consortium for the AFOSR award aims to develop chip fabrication technology, with a total award of $5,480,000 [5] Market Data and Key Metrics Changes - The company is actively participating in DARPA's quantum benchmarking initiative, which is critical for advancing utility scale quantum computing [4][28] - The interest in quantum computing remains primarily in R&D, with significant government contracts driving current sales [38][41] Company Strategy and Development Direction - The company is pursuing a chiplet approach to scale qubit counts, aiming for 36 qubits by mid-2025 and over 100 qubits by the end of 2025 [16][18] - The strategy includes enhancing quantum error correction capabilities and integrating digital chip-based technology with existing systems [8][9] - The partnership with Quanta Computer is strategic, focusing on non-GPU hardware components, which will allow the company to concentrate on QPU development [91][94] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the NQI reauthorization bill, which is expected to pass with bipartisan support, although funding may take additional time to materialize [21][48] - The company anticipates that achieving quantum advantage will take at least three to five years, with current efforts focused on R&D and technology milestones [38][42] Other Important Information - The company has closed a $35,000,000 investment from Quanta Computer, which strengthens their strategic collaboration [10][90] - The company is exploring optical signaling as a future technology to improve scalability and reduce thermal load in quantum systems [78][81] Q&A Session Summary Question: Progress on chip tiling and timelines - Management confirmed confidence in the chiplet approach to achieve 36 qubits by mid-2025 and over 100 by the end of 2025, with promising data supporting this strategy [16][17] Question: Updates on the DARPA contract - The DARPA Quantum Benchmarking Initiative is crucial for utility scale quantum computing, with specific milestones related to qubit count and fidelity required to progress to the next phase [26][28] Question: Revenue from DARPA phases - Phase A of the DARPA project includes a $1,000,000 award, with expectations for increased funding in subsequent phases [34] Question: Customer interest in quantum processors - Current interest remains in R&D, with significant government funding impacting the conversion of interest into orders [40][41] Question: Optical signaling and its roadmap - Optical signaling is a key element for future scalability, with expectations to transition from coax to fiber optic cables in the next three to four years [78][81] Question: NQCC revenue recognition timeframe - Revenue from the NQCC opportunity is expected to be recognized over the next year, with a similar timeline for the Air Force contract [84]

Financial Data and Key Metrics Changes - Revenues in Q1 2025 were $1,500,000, down from $3,100,000 in Q1 2024, indicating a significant decline [12] - Gross margins decreased to 30% in Q1 2025 from 49% in Q1 2024, primarily due to lower margins from a contract with the UK's NQCC [12] - Total operating expenses (OpEx) increased to $22,100,000 in Q1 2025 from $18,100,000 in the same period last year, driven by salary increases, new hires, and higher stock compensation expenses [13] - The operating loss for Q1 2025 was $21,600,000, compared to $16,600,000 in the prior year [13] - The company recorded a net income of $42,600,000 in Q1 2025, a turnaround from a net loss of $20,800,000 in the previous year, largely due to favorable non-cash changes in derivative warrant and earn-out liabilities [14] Business Line Data and Key Metrics Changes - The company is focusing on advancing its utility scale quantum computer concept through collaborations and government contracts, which are critical for future sales [4][5] - The NQCC contract is noted for its lower gross margin profile, impacting overall profitability [12] Market Data and Key Metrics Changes - The company has been awarded multiple contracts, including a $1,000,000 award from DARPA for the Quantum Benchmarking Initiative, which is seen as strategically important despite its relatively small monetary value [34] - Interest in quantum computing remains primarily in R&D, with significant reliance on government contracts and academic research funding [41] Company Strategy and Development Direction - The company aims to demonstrate a chiplet approach to scale qubit counts, targeting over 100 qubits by the end of 2025 [16][19] - The strategy includes collaborations with various institutions to enhance quantum error correction capabilities and improve chip fabrication technology [5][6] - The company is optimistic about the NQI reauthorization, which is expected to provide funding for quantum computing initiatives, although delays in passing the bill are noted [22][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the chiplet approach as a means to scale up qubit counts, emphasizing its importance for the entire industry [19] - The company is optimistic about the future of quantum computing, although it acknowledges that achieving quantum advantage is still several years away [39] - Management highlighted the strategic importance of government contracts and collaborations in driving future growth [41][42] Other Important Information - The company has closed a $35,000,000 investment from Quanta Computer, which is expected to strengthen their partnership and reduce R&D costs in non-QPU hardware areas [10][96] - The company is exploring optical signaling as a future technology to improve scalability and reduce thermal load in quantum computing systems [80][84] Q&A Session Summary Question: Progress on chip tiling to reach 36 qubits - Management confirmed that the chiplet approach is critical for scaling qubit counts and expressed confidence in achieving the target by mid-year [16][19] Question: Updates on NQI Reauthorization Act - Management noted bipartisan support for the NQI reauthorization but indicated that it has not yet passed, with funding expected to take additional time to flow [21][50] Question: Details on the DARPA contract - The DARPA Quantum Benchmarking Initiative is crucial for developing utility scale quantum computing, with specific milestones related to qubit fidelity and gate speed [27][90] Question: Customer interest in acquiring processors - Management stated that interest remains high, but funding issues are currently hindering conversion to orders [41][42] Question: Timeframe for the 36 qubit QPU upgrade - Management indicated that the upgrade could occur in the second half of the year, depending on the demonstration of the chiplet approach [51][54] Question: Importance of optical signaling - Management emphasized the significance of optical signaling for future scalability and the transition from coax to fiber optic cables [80][84] Question: Revenue recognition from NQCC and Air Force contracts - Management expects revenue from the NQCC contract to be recognized over the next year, with the Air Force contract contributing approximately $1,000,000 over its three-year term [87]

Core Insights - Rigetti Computing, Inc. reported its financial results for Q1 2025, highlighting significant government-funded projects and advancements in quantum computing technology [1][2][3] Financial Highlights - Total revenues for Q1 2025 were $1.5 million, a decrease from $3.1 million in Q1 2024 [7][23] - Total operating expenses for Q1 2025 were $22.1 million, compared to $18.1 million in Q1 2024 [7][23] - The operating loss for Q1 2025 was $21.6 million, up from a loss of $16.6 million in Q1 2024 [7][23] - Net income for Q1 2025 was $42.6 million, which includes $62.1 million of non-cash gains from changes in fair value of derivative warrant and earn-out liabilities [7][23] - As of March 31, 2025, cash, cash equivalents, and available-for-sale investments totaled $209.1 million, increasing to $237.7 million by April 30, 2025 [7][9] Recent Business Developments - Rigetti was selected to participate in DARPA's Quantum Benchmarking Initiative, advancing to Stage A with a potential value of up to $1 million [4] - The company received a $5.48 million AFOSR award to develop its chip fabrication technology, collaborating with several academic institutions [5] - Rigetti was awarded £3.5 million in Innovate UK Quantum Mission Pilot Awards to enhance quantum error correction capabilities [6] Technical Updates - Rigetti successfully demonstrated the integration of a hybrid microwave-optical quantum transducer with a superconducting qubit, enabling optical control and promising scalability [12] - The company leveraged its new quantum optimization algorithm, quantum preconditioning, to improve classical optimizers for energy grid problems, showcasing practical applications of quantum computing [13] Strategic Collaborations - Rigetti closed a $35 million investment from Quanta Computer, enhancing its strategic collaboration [9] - Collaborations with various institutions aim to create an open-architecture quantum computing testbed and improve quantum error correction [18]

Summary of Rigetti Computing Conference Call Company Overview - Rigetti Computing is a pioneer in full-stack quantum computing, operating superconducting quantum computers since 2017 through a cloud services platform and selling on-premise quantum computers since 2021 [2][8] - The company developed the first multichip processor in the industry and manufactures superconducting quantum processing units (QPUs) in-house at a dedicated facility [2] Core Industry Insights - Quantum computing is an emerging technology that fundamentally differs from classical computing by using qubits instead of bits, allowing for exponential computing capabilities and lower energy consumption [5][6] - Rigetti focuses on gate-based quantum computing, which is expected to dominate the industry, while acknowledging niche applications for other modalities like annealing [12][14] Technological Advantages - The advantages of superconducting technology include scalability and gate speed, with Rigetti's gate speeds comparable to current CPU and GPU technologies [16][17] - Recent advancements have improved two-qubit gate fidelity to 99.5%, with a target of reaching 99.8% to enable commercial applications [24][25] Roadmap and Future Goals - Rigetti aims to demonstrate a quantum computer with over 100 qubits and maintain high fidelity in 2024, with plans to increase qubit count and fidelity in subsequent years [27] - The company is pursuing a modular chiplet architecture to facilitate scaling, which has shown promising results in initial deployments [28][34] Quantum Networking and Error Correction - Rigetti believes in a hybrid computing model where quantum computers coexist with classical systems, rather than requiring a separate quantum network [41][42] - The company is collaborating with Riverlane to develop real-time error correction codes, which are critical for future quantum computing applications [46][51] Strategic Partnerships - Rigetti has formed a strategic partnership with Quanta Computer, which includes a $35 million investment and a commitment of $250 million over five years for non-quantum hardware development [82][86] - This partnership is aimed at enhancing Rigetti's manufacturing capabilities and reducing R&D costs as the business scales [85] Government Funding and Legislative Updates - The National Quantum Computing Act is pending reauthorization, which is crucial for long-term funding and support for quantum initiatives [90][92] - Rigetti has secured funding from DARPA and the Air Force Research Lab, indicating strong government interest in quantum technologies [93] Conclusion - Rigetti Computing is positioned at the forefront of quantum computing technology, focusing on scalability, fidelity, and strategic partnerships to drive future growth and commercialization [95]

Riverlane will lead the QEC experiments, identifying key improvements to enhance system performance and meet crucial QEC metrics. The NQCC Superconducting Circuits Team will support the system upgrade and provide quality assurance for the QEC experiments. "Our NQCC testbed continues to serve as a critical resource for advancing our technology capabilities. We believe that we have a tremendous advantage on our path to fault-tolerant quantum computing with Riverlane's QEC expertise and our modular, open archi ...

Core Insights - Amazon Web Services (AWS) has introduced its prototype quantum chip, named Ocelot, which aims to address the challenges of error susceptibility in quantum computing [1][2] - The Ocelot chip represents a significant advancement in error correction and scalability, potentially increasing efficiency in quantum error correction by up to 90% compared to traditional methods [2][8] - The chip utilizes cat qubit technology, which reduces certain types of errors and simplifies the quantum error correction process necessary for developing a fully functional quantum computer [6][7] Error Correction and Scalability - The Ocelot chip demonstrates a potential efficiency improvement in error correction by a factor of five to ten times, although a substantial reduction in error rates is still required [3][15] - Researchers agree that advancements in error reduction and scalability are crucial for the commercial viability of quantum computers [8][12] Industry Context - The quantum computing sector is experiencing rapid advancements, with recent developments from competitors like Microsoft and Google, indicating a competitive landscape [9][10][11] - Amazon's Ocelot chip is considered a more conventional superconducting chip, similar to those developed by Google and IBM, but with a focus on improving conventional error correction methods [12][13] - The industry is optimistic about the potential for quantum technology to become commercially viable sooner than previously anticipated, despite ongoing challenges [14][15]