Quantum Computing shares waver after wider Q4 loss, rev decline

Quantum Computing

21/03/2025 15:04

**  Quantum Computing Inc's QUBT.O shares edge up 0.3% to $7.40 on Fri after co's Q4 loss widened and rev decreased

      ** QUBT shares traded as low as $6.33 and as high as $7.57 on the session

    ** Hoboken, New Jersey-based photonics and quantum optics tech provider posted loss of $52.1 mln compared to loss of $6.8 mln a year ago, and rev
     declined 17% to $62,000

** Operating expenses in qtr increased to $8.9 mln from $6.6 mln from comp period last year, primarily due to higher employee compensation and increased cost for production equipment at its chip foundry in Tempe, Arizona

** CEO William McGann said co on track to launch its photonic chip foundry in early 2025, adding it has multiple purchase orders secured

** In Dec, co sold $50 mln of shares at $5 in combined direct offering and private placement to advance its technologies and help build out the Arizona foundry

    ** QUBT shares up about 10-fold over the past six months, but well off their 52-week intraday high of $27.15 hit on Dec 18

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))