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Quantum Computing Inc Announces Full Year 2022 Financial Results
Quantum Computing Inc completes integration of QPhoton merger, more than doubling the size of the company and establishing its quantum hardware production
About this update from Quantum Computing Inc.
[{"type":"text","content":"Quantum Computing Inc completes integration of QPhoton merger, more than doubling the size of the company and establishing its quantum hardware production capability.Quantum Computing Inc. QPhoton merger strengthens QCI as the first pure play public company based on proven photonic quantum technology offering commercially available, ready-to-run anywhere, full-stack quantum products and services, from quantum computing to quantum-based solutions that include quantum cyber security, quantum networks, quantum sensing and quantum imaging.Quantum Computing Inc. begins prototype fabrication of its own quantum photonic microchips and plans to expand into full scale manufacturing to support its quantum technologies in the marketplace.Quantum Computing Inc. transitions from a developing R&D technology company to commercialization at start of 2023.Quantum Computing Inc. offers guidance on revenue breakeven – at approximately $30 million in revenue, the company anticipates EBITDA breakeven which it plans to deliver within 2 years.LEESBURG, Va., March 29, 2023 /PRNewswire/ -- Quantum Computing Inc. (\"QCI\" or the \"Company\") (NASDAQ: QUBT), a first-to-market full-stack photonic-based quantum computing and solutions company, today reported financial results for the full year ending December 31, 2022.\n\n \n \n \n \n \n \n\n \n\"In 2022, we completed our product preparation and have entered the commercialization phase. Combined with QCI's technical success prior to, and as a result of, the merger with QPhoton, we doubled our technical personnel expertise, acquired unique patent assets and IP, and importantly, added photonic hardware and systems capability to our software expertise thereby becoming a full stack, comprehensive quantum enabling company,\" commented Robert Liscouski, co-Founder and CEO of Quantum Computing Inc. \"In addition, we scrutinized all budgets, solidified supply chain and funding relationships, realigned our leadership team with the expanded focus of the company, and established sales & marketing with a scalable go-to-market strategy for a 2023 commercial roll-out. We have firmly established ourselves as an emerging leader in photonic quantum information processing, which is proving to be a highly effective methodology for high-speed, low cost and low power computing compared with alternative approaches being attempte...