Quantum Computing Inc. (QCI) received $27.3 thousand in revenue for the period ended March 31, 2024. The bulk of the revenue was due to professional services that utilize the Dirac-series computers and other prototype design and configuration services. Net loss for the quarter was about $6.9 million. The company ended the quarter with $6.1 million in cash and cash equivalents, an increase of about $4 million from the balance on December 31, 2023. The company raised net cash $10 million during the Q1 period through its ATM (At-the-Market) agreement with with Ascendiant Capital Markets, LLC.
A chart comparing the results for Q1 2024 versus Q1 2023 is shown below:
Additional information about QCI’s Q1 2024 is available in a press release located here and a SEC Form 8-K filing available here.
June 14, 2024