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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。