Quantum Computing Inc (NASDAQ:QUBT) shares are trading lower in Thursday’s after-hours session on the heels of the company’s fourth-quarter results. Here’s a rundown of the report.
Fourth-quarter operating expenses totaled $8.9 million, up from $6.6 million year-over-year. Quantum Computing said it ended the quarter with $78.9 million in cash and cash equivalents.
“QCI made meaningful progress in the fourth quarter strengthening our financial position to support the continued advancement of our quantum solutions and foundry services,” said William McGann, CEO of Quantum Computing.
“With a significantly bolstered balance sheet, we are well-positioned to scale operations and accelerate commercialization efforts.”
Check This Out: Micron Q2 Earnings: Revenue Beat, Data Center Sales Triple, EPS Beat, Strong Guidance, Shares Jump
Looking ahead, the company is focused on executing its growth strategy, expanding industry partnerships and delivering on photonic and quantum technologies.
The company said it remains on track to launch its Quantum Photonic Chip Foundry in early 2025. Quantum Computing noted that it has already secured multiple purchase orders.
Quantum Computing executives are currently discussing the quarter on a call with investors and analysts that kicked off at 4:30 p.m. ET.
QUBT Price Action: Quantum Computing shares were down 11.23% after-hours, trading at $6.56 at the time of publication Thursday, according to Benzinga Pro.
Photo: Shutterstock.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。