01 Quantum Inc. (ONE) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to our Q4 conference call. I'm Brian Stringer. I'm Chief Financial Officer of Zero One, and with me today is Andrew Chung, our President and CEO. The format for today's call will be a brief presentation by Andrew Chung, followed by Q&A. I'll be moderating the questions, so please throughout the presentation, everybody knows how to use Zoom now. If you could just click on the Q&A button at the bottom, submit your, type your questions and submit them to me. Now, before we get started, if you would take a minute to read our disclaimer or forward-looking statements. as these are an important part of the presentation. And now I'll turn it over to Andrew for his presentation. Over to you, Andrew. Thank you, Brian. Welcome, everyone. Again, my name is Andrew Chung, President and CEO of Zero One Communicate. Welcome to our 2023 Fourth Quarter Financial Result and Corporate Update. First of all, activities in the post-quantum cryptographic market continue to move in light speed. I think the most notable happening since the last quarter was the breaking of the 1,000 qubit barrier by IBM. In December, just about a month ago, IBM announced their latest quantum computer, Condor, with 1,121 qubits. This is not only a major milestone, but also because it has fulfilled their roadmap they posted a few years ago. So the roadmap becomes a reliable item for the quantum computer industry by itself. And according to their roadmap, they are going to deliver 1400 qubit later this year, followed by 4,000 qubit next year, and then 100,000 plus the year after. It cannot be more obvious that the tsunami is already within visible distance. The reasons are very simple. It takes time, first of all, to convert application to become quantum safe. This can take a minimum of ...