By Katherine Hamilton
Quantum Computing shares fell after its fourth-quarter loss widened and revenue declined.
The stock retreated 9% to $6.74. Shares have increased sixfold over the past 12 months.
The photonic technology provider on Thursday posted a loss of $51.2 million, or 47 cents a share, for the quarter ended Dec. 31, compared with a loss of $6.8 million, or 9 cents a share, the year before.
Revenue fell 17% to $62,000. Operating expenses increased to $8.9 million from $6.6 million primarily due to higher employee compensation and an increased cost for production equipment at Quantum's chip foundry in Arizona.
Quantum Chief Executive William McGann said the company is on track to launch its quantum photonic chip foundry in early 2025, and has multiple purchase orders secured.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 21, 2025 06:24 ET (10:24 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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