Business
Quantum Computing Inc. Reports Second Quarter and First Half 2023 Financial Results
Quantum Computing Inc. initiates commercialization during first half of 2023 and commenced multiple product launches year-to-date, including: Dirac Series
About this update from Quantum Computing Inc.
[{"type":"text","content":"Quantum Computing Inc. initiates commercialization during first half of 2023 and commenced multiple product launches year-to-date, including: \nDirac Series Entropy Quantum computer.Zero-Trust Cyber Security Protection solution.Non-repeatable Quantum Random Number Generator.Reservoir Photonics computing (machine learning/predictive) – AI enhancing.Quantum Sensing products including QLiDAR and the Photonic Vibrometer – first to market to discern highly obscured and non-line-of-sight objects.LEESBURG, Va., Aug. 14, 2023 /PRNewswire/ -- Quantum Computing Inc. (\"QCi\", \"we\", \"our\" or the \"Company\") (Nasdaq: QUBT), a first-to-market nanophotonic-based quantum technology company, today announced its financial results for the three and six-months periods ended June 30, 2023. \n\"The conclusion of the second quarter 2023 marks the one-year anniversary of our merger with QPhoton. I am pleased to report that the full integration with QPhoton has been successfully completed. In one year's time we have seamlessly doubled the size of the Company in terms of personnel, facilities, assets, and scope of our business. Together, combining QCi's quantum software platform and data scientist expertise with QPhoton's highly sophisticated quantum hardware intellectual property, we have redefined ourselves as a nanophotonic-based quantum technology company, focused on the democratization of quantum technologies. In one year, we have laid the foundation for our core technology, designed advanced quantum photonic chips to miniaturize key product components, and have begun commercialization with the release of certain first-to-market, photonic-based, quantum-enabled products and services,\" commented Robert Liscouski, co-Founder, CEO & Chairman of QCi.\n\"The second quarter report illustrates that we have consistently maintained tight financial controls during a significant consolidation period, while rolling out a business development, marketing and sales plan to facilitate a multi-product release effort. To sum up, QCi has in one year accomplished what it has taken industry participants several years to achieve, and we believe we deliver greater quantum capability. To produce this high level of activity, we are fortunate to have secured cost-effective funding sources, entering the third quarter with sufficient cash on our balance sheet to ensure ...