Business
Arqit Quantum Inc. Announces Financial and Operational Results for the Fiscal Year 2023
$5.6 million of revenue and other operating income from discontinued operations for fiscal year 2023 Revenue for the second half of fiscal year 2023 from the
About this update from Arqit Quantum Inc.
[{"type":"text","content":"$5.6 million of revenue and other operating income from discontinued operations for fiscal year 2023 Revenue for the second half of fiscal year 2023 from the sale of QuantumCloud™ symmetric key agreement encryption technology increased from the first half of fiscal year 2023 New specialised applications of QuantumCloud™ symmetric key agreement encryption technology, including NetworkSecure™, TradeSecure™ and WalletSecure™ offerings 13 channel partnerships signed in the fiscal year, including 8 in the second half of the period, with revenue generation commenced through 6 such relationships LONDON, Nov. 21, 2023 (GLOBE NEWSWIRE) -- Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (“Arqit”), a global leader in quantum-safe encryption, today announced its operational and financial results for the full fiscal year 30 September 2023. Operational Highlights In December 2022, Arqit launched a pivot in go-to-market strategy to selling its cloud delivered QuantumCloud™ platform as a service (“PaaS”) through channel partnerships rather than a previous emphasis on direct enterprise license sales. At that time, Arqit announced channel partnerships with Fortinet, Amazon Web Services Partner Network, Traxpay, AUCloud and Nine23. In the second half of fiscal year 2023, Arqit significantly expanded its announced channel partnership relationships with 8 new partners. After the end of the fiscal year, Carahsoft, which provides technology solutions to the U.S. Government market, joined as a channel partner. These additional partnerships expand Arqit’s geographic and market reach. Arqit expects to announce additional channel partner relationships across OEMs, distributors and resellers. Arqit’s channel partnerships include: OEMSDistributorsResellersFortinetAIEEAmazon Web ServicesJuniperCarahsoftAUCloud DETASADBritish Telecom (“BT”) Exclusive NetworksNine23 SNC MS UK SecureCloud+ VTC, LLC dba Total Site Solutions Traxpay As of 30 September 2023, Arqit has recognised revenue through six of its channel partnerships. During fiscal year 2023, Arqit introduced its first three offerings of specialised applications of its QuantumCloud™ PaaS for specific vertical market opportunities: Arqit NetworkSecure™ for securing network firewalls; Arqit TradeSecure™ which provides a symmetric key agreement solution for digital assets, specifically trade finance documents; and ...