Latest news with #Dirac-3
Globe and Mail
29-07-2025
- Business
- Globe and Mail
Rigetti vs. Quantum Computing: Which Quantum Stock Is a Smarter Bet?
Quantum computing is no longer just a scientific experiment; it is shaping up to be the next frontier in real-world problem-solving. Companies like Rigetti Computing RGTI and Quantum Computing Inc. QUBT are leading that charge, but they are taking very different routes to get there. Rigetti is building universal quantum computers based on gate-based superconducting qubits, aiming for broad applicability across industries. Its focus is on developing scalable, modular systems that can handle increasingly complex workloads over time. QUBT, on the other hand, is betting on photonic quantum technologies. The company is developing thin-film lithium niobate-based chips through its newly operational U.S.-based foundry and integrating those into compact systems like its Dirac-3 machine. QUBT's near-term focus lies in building practical, room-temperature quantum solutions tailored for optimization and machine learning tasks. Both companies aim to push quantum technologies from labs into businesses. But their strategies, technical bets, and commercialization models reveal sharp differences. This faceoff explores Rigetti and QUBT across two key dimensions, technology and commercial execution strategies to help investors evaluate which quantum stock may offer a smarter long-term bet. Price Performance of RGTI & QUBT Shares of Rigetti have gained 2%, while QUBT stock has lost 2.4% in the year-to-date period. Two Paths to Quantum Power: Superconducting Circuits vs Photonic Chips Rigetti's technology is rooted in superconducting qubits, and its push for modular hardware design allows qubit systems to be built in scalable units. The company recently demonstrated 99.5% median two-qubit gate fidelity on its 36-qubit Ankaa-2 system—marking a significant leap in error reduction. Rigetti is doubling down on universal quantum computing, where gate-based architectures can, in theory, solve a wide range of problems beyond optimization. With its in-house chip fabrication and proprietary cloud platform (QCS), Rigetti is pursuing tight integration across the stack, aiming for speed, precision, and flexibility. QUBT is charting a different course with quantum photonic chips built on thin-film lithium niobate (TFLN), a material prized for its speed and low energy loss. Unlike systems that need cryogenic cooling, QUBT's chips run at room temperature, offering advantages in cost, footprint and deployment ease. Its Dirac-series machines use photonic processors to target optimization and AI-heavy tasks. While not designed for universal quantum computing, QUBT's focus on domain-specific performance makes its approach more commercially practical in the near term. With its in-house foundry now operational, the company gains tighter control over development and faster iteration cycles. From Lab to Market: Who's Closer to Real-World Traction? Rigetti primarily earns revenues through government contracts and research partnerships, with the U.S. Department of Energy and DARPA among its key collaborators. While its current revenue base remains modest, Rigetti is focused on building long-term value by steadily improving system performance and integrating its quantum processors with cloud platforms. The launch of its Ankaa-2 system marked a key milestone, and the upcoming Lyra system—targeting over 300 qubits could open the door to broader enterprise experimentation. However, Rigetti's go-to-market strategy is still in the early innings, with commercial scalability hinging on hardware maturity and customer readiness. Meanwhile, QUBT is pushing forward on commercialization with a product-first mindset. During the first quarter of 2025, the company completed construction of its photonic chip foundry in Tempe, AZ, and reported five initial purchase orders, ranging from a Canadian photonic design firm to a European technical university. In January, QUBT also formed a strategic collaboration with the Sanders Tri-Institutional Therapeutics Discovery Institute, giving the research group access to its Dirac-3 system for quantum-assisted drug discovery. Post-quarter, QUBT secured a $406,000 subcontract from NASA to apply its hardware to LIDAR data processing, and sold devices to Delft University and a major automotive manufacturer. These moves signal growing traction across multiple verticals, even as the company continues to build out its commercial pipeline. The Road Ahead: Who's Better Positioned for Quantum Advantage? Rigetti's roadmap features a 36-qubit system currently in development, followed by a greater than 100-qubit processor later this year and the 336-qubit Lyra system built on a modular, multi-chip architecture. This design allows qubit scaling without overhauling fabrication methods. A key part of Rigetti's strategy is its $250 million partnership with Quanta Computer, with $35 million already committed to expand chip production and cloud access via its QCS platform. Backed by in-house fabrication, developer outreach, and AI-assisted system calibration, Rigetti is steadily building toward utility-scale quantum computing. QUBT is targeting near-term adoption through its photonic platform. Its Tempe-based thin-film lithium niobate foundry is now operational, supporting early chip orders and deployment of its Dirac-3 machines. Partnerships with Sanders TDI for drug discovery and the NASA subcontract for LIDAR processing highlight practical use cases. Instead of pursuing universal quantum computing upfront, QUBT is focused on optimization and AI tasks using room-temperature hardware—potentially enabling faster adoption across biotech, telecom, and logistics sectors. How Do Zacks Estimates Compare for RGTI & QUBT? The Zacks Consensus Estimate for RGTI's 2025 sales implies a year-over-year decline of 18.63%. For 2025, the loss per share is projected to be 5 cents compared with 36 cents a year ago. The earnings estimates have been stable over the past 60 days. Image Source: Zacks Investment Research The Zacks Consensus Estimate for QUBT's 2025 sales and earnings implies year-over-year growth of 34.1% and 90.4%, respectively. The earnings estimates have been stable over the past 30 days. RGTI or QUBT: Which Is a Better Pick? RGTI and QUBT represent two divergent strategies in the quantum space—Rigetti is building toward universal, gate-based quantum computing, while QUBT is leveraging photonic hardware for near-term, application-specific use cases. Both companies currently hold a Zacks Rank #3 (Hold) and a Value Score of 'F', suggesting investors are cautiously observing their next moves. Rigetti stands out with a Growth Score of 'B', supported by its technical roadmap and modular scalability goals. QUBT holds a Growth Score of 'C', reflecting its early commercial traction and foundry-led strategy. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. While Rigetti remains a promising deep-tech innovator with a clear focus on long-term breakthroughs through modular gate-based systems, QUBT's commercial traction, photonic chip foundry, and targeted application strategy offer a more immediate path to market adoption. With both companies holding a neutral Zacks Rank, investors may weigh Rigetti's advanced hardware ambitions against QUBT's pragmatic push for near-term utility. Higher. Faster. Sooner. Buy These Stocks Now A small number of stocks are primed for a breakout, and you have a chance to get in before they take off. At any given time, there are only 220 Zacks Rank #1 Strong Buys. On average, this list more than doubles the S&P 500. We've combed through the latest Strong Buys and selected 7 compelling companies likely to jump sooner and climb higher than any other stock you could buy this month. You'll learn everything you need to know about these exciting trades in our brand-new Special Report, 7 Best Stocks for the Next 30 Days. Download the report free now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Quantum Computing Inc. (QUBT): Free Stock Analysis Report
Yahoo
25-07-2025
- Business
- Yahoo
QUBT Stock Surges on Rise in Real-World Adoption: More Upside Ahead?
Quantum Computing Inc. QUBT is gaining commercial momentum with its Dirac-3 quantum optimization system being used in practical, real-world settings across key sectors. In biomedical research, QUBT is working with the Sanders Tri-Institutional Therapeutics Discovery Institute, a partnership involving Sloan Kettering, Rockefeller University and Weill Cornell Medicine, to support computational chemistry and biomolecular modeling. In aerospace and Earth sciences, QUBT has expanded its collaboration with NASA through a subcontract with Analytics Mechanics Associates. Dirac-3 will help improve LiDAR data processing by removing sunlight interference, aiding NASA's daytime Earth observation efforts. In industrial R&D, Quantum Computing sold its EmuCore reservoir computing device to a major automotive manufacturer for research applications, signaling growing interest from commercial players exploring quantum-powered AI and simulation tools. These examples demonstrate that QUBT's quantum systems are already in use, providing real-world value in optimization and sensing across multiple industries, far beyond just future potential. How are QUBT Peers Positioned Now? IonQ IONQ: It continues to lead in trapped-ion quantum computing, backed by strong investor confidence and growing commercial traction. IonQ is expanding its ecosystem through acquisitions like ID Quantique and Qubitekk, and partnerships with organizations such as Einride, the U.S. Air Force and KISTI. These highlight its progress across quantum computing, networking and sensing applications. Rigetti Computing RGTI: It is strengthening its position in superconducting quantum computing with the launch of Ankaa-3, an 84-qubit system achieving 99.5% two-qubit gate fidelity and demonstrating scalable error reduction. Rigetti continues to collaborate with government agencies, including DARPA's Quantum Benchmarking Initiative, reinforcing its role in advancing hardware and modular quantum architectures. QUBT's Price Performance Quantum Computing has rallied 137.7% in the past three months compared with the industry's 26% growth and the sector's 24.6% rise. The S&P 500 index, meanwhile, has improved 15.6% during the said period. Three-Month Share Price Comparison: QUBT Image Source: Zacks Investment Research Average Target Price Shows Near-term Upside Based on short-term price targets, Quantum Computing is currently trading 5.9% below its average Zacks price target. Image Source: Zacks Investment Research QUBT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Quantum Computing Inc. (QUBT) : Free Stock Analysis Report IonQ, Inc. (IONQ) : Free Stock Analysis Report Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Globe and Mail
21-03-2025
- Business
- Globe and Mail
Quantum Computing (QUBT) Stock Slides 11% Aftermarket Post Q4 Earnings Release
Quantum Computing (QUBT) reported its Q4 financials after the market close yesterday, revealing a drop in revenue and leading to an 11% decline in the stock price in aftermarket trading. This comes on the heels of Nvidia's Quantum Day, which was intended to spotlight rising ventures in the quantum technology sector; however, it did not lead to positive momentum for the stocks involved. Despite expectations for significant updates, the event mainly resulted in an apology from Nvidia CEO Jensen Huang, who had previously downplayed the near-term potential of quantum technology. Huang's remarks had earlier led to a sell-off of quantum stocks. Light Up your Portfolio with Spark: Easily identify stocks' risks and opportunities. Discover stocks' market position with detailed competitor analyses. Quantum Competition Heating Up Quantum Computing is a technology company that creates algorithms and solutions through quantum and quantum-inspired computing to address complex challenges across various sectors. The company is progressing with its plans to launch the Quantum Photonic Chip Foundry by early 2025, evidenced by securing multiple purchase orders indicating strong market demand for TFLN-based photonic integrated circuits. Collaborations with NASA enhance the credibility and applicability of the company's Dirac-3 quantum optimization machine, demonstrating its practical utility. Future priorities are set on implementing growth strategies, establishing further industry partnerships, and introducing advanced photonic and quantum technologies to the market. However, Quantum Computing operates within a competitive and rapidly evolving industry as various companies strive to commercialize quantum computing technology. Key players include D-Wave (QBTS), IonQ (IONQ), and Rigetti (RGTI), all pursuing different technological approaches. The industry's momentum intensified following Google's (GOOG) significant move with the Willow chip, leading to further developments such as Microsoft's (MSFT) introduction of Majorana, the first quantum processing unit powered by a Topological Core. Adding to the competitive landscape, China is actively advancing its quantum computing capabilities, highlighted by establishing a substantial government-backed fund amounting to 1 trillion yuan ($138 billion) to foster emerging technologies, including quantum computing. Moreover, China has made notable advancements with the launch of Zuchongzhi-3, a 105-qubit superconducting quantum processor, which reportedly performs drastically faster than Google's recent efforts. These developments underscore the fierce global race and substantial investments toward achieving quantum computing breakthroughs. Earnings Miss In the fourth quarter of 2024, the company reported revenues of approximately $62,000 with a gross margin of 55%, a notable increase from a 13% margin on $75,000 in revenue the previous year due to reduced costs of goods sold. Operating expenses rose to $8.9 million from $6.6 million a year earlier due to increased employee-related non-cash expenditures and depreciation at a new chip foundry. Despite a decrease in cash used in operations by $2.1 million for the entire year, the net loss swelled to $51.2 million partly because of non-cash charges related to warrant liabilities following a merger. Q4 GAAP EPS of -$0.47 missed analyst expectations by $0.42. Total assets more than doubled to $153.6 million, spurred by a significant cash influx from stock offerings, reaching $78.9 million in cash and equivalents. However, liabilities also grew by approximately $41 million, mainly due to accounting changes associated with warrants. Disclosure
Yahoo
20-03-2025
- Business
- Yahoo
Quantum Computing Inc. Reports Fourth Quarter 2024 Financial Results
HOBOKEN, N.J., March 20, 2025 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, integrated photonics and quantum optics technology company, today released financial results for the three and twelve-month periods ended December 31, 2024. Dr William McGann, Chief Executive Officer of QCi, commented, "QCi made meaningful progress in the fourth quarter strengthening our financial position to support the continued advancement of our quantum solutions and foundry services. With a significantly bolstered balance sheet, we are well-positioned to scale operations and accelerate commercialization efforts. "Operationally, we remain on track to launch our Quantum Photonic Chip Foundry in early 2025, with multiple purchase orders secured, reinforcing the growing demand for TFLN (thin film lithium niobate)-based photonic integrated circuits. Additionally, our collaborations with NASA highlight the real-world applications of our Dirac-3 quantum optimization machine, further validating its capabilities. Looking ahead, we are focused on executing our growth strategy, expanding industry partnerships, and delivering next-generation photonic and quantum technologies to the market." Fourth Quarter 2024 Financial Highlights Fourth quarter 2024 revenues totaled approximately $62,000 (55% gross margin) compared to $75,000 (13% gross margin) generated in the fourth quarter 2023. The increase in gross margin is primarily attributed to lower costs of goods sold in the 2024 period. Fourth quarter 2024 operating expenses totaled $8.9 million compared to the previous year's fourth quarter operating expenses of $6.6 million. The year-over-year increase was primarily driven by higher non-cash employee-based expenses, including stock-based compensation, and increased depreciation expense for production equipment installed at the Company's TFLN chip foundry in Tempe, AZ. Cash used in operations for the full year ended 2024 decreased by $2.1 million year-over-year, driven by lower general and administrative expenditures. The Company reported a net loss attributable to common stockholders of $51.2 million, or $(0.47) per basic share for the fourth quarter of 2024, compared to a net loss attributable to common stockholders of $6.8 million or $(0.09) per basic share for the same period of the previous year. The higher net loss this quarter was primarily due to non-cash charges attributable to the mark-to-market of the Company's warrant-related derivative liability as a result of our merger with QPhoton in June 2022. Total assets at December 31, 2024 were $153.6 million, increasing from $74.4 million at December 31, 2023. Cash and cash equivalents at December 31, 2024 increased by $76.9 million to $78.9 million from year-end 2023. During the fourth quarter, the Company raised total net proceeds of $92.1 million through offerings of common stock. Subsequent to the quarter, the Company announced an additional offering of common stock for gross proceeds of $100 million. Total liabilities at December 31, 2024 were $46.3 million, an increase of approximately $41 million compared to year-end 2023, driven primarily by the previously disclosed non-cash Q Photon warrant accounting updates. As of December 31, 2024, the Company had shareholders' equity totaling $107.3 million. Fourth Quarter 2024 Operational Highlights Advancing Strategic Partnerships with NASA: On October 17, QCi secured its fifth task order with NASA, focused on developing quantum remote sensing technology for spaceborne LiDAR missions. This contract aims to lower the cost of climate-monitoring missions while improving data collection capabilities. On December 17, QCi announced an additional contract with NASA to support phase unwrapping using the Dirac-3 quantum computer as a Photonic Optimization Solver, further demonstrating the machine's capabilities in complex data processing applications. Quantum Photonic Chip Foundry Update: QCi reached the final stage of commissioning its Quantum Photonic Chip Foundry in Tempe, Arizona. Construction is substantially complete, and the Company is now establishing its process design kit (PDK) and filling customer orders. During the quarter, the Company announced two memorandums of understanding (MOUs) with leading industry partners, Spark Photonics Design and Alcyon Photonics, expanding collaboration opportunities. As part of its 2024 Pilot Launch Program, QCi secured multiple pre-orders, and subsequent to the quarter, the Company announced a total of five purchase orders for its TFLN Foundry. The Foundry remains on schedule to be operational in the first quarter of 2025. Strengthening Sales & Market Presence: The Company continued expanding its commercial and government engagement, attending 10 trade shows and conferences during the quarter to showcase its quantum optimization and photonic chip solutions to potential customers and partners. Advancing Quantum Solutions to Meet Immediate Market Needs: On November 14, 2024, CEO Dr. William McGann presented at the Quantum Frontiers Conference at Los Alamos National Laboratory, showcasing QCi's quantum optimization solutions and their potential to accelerate real-world adoption of quantum technologies. QCi continues to position its Dirac-3 machine as a critical tool for government and commercial applications, bridging the gap between theoretical quantum advancements and practical deployment to make quantum computing accessible today. Earnings Conference Call The Company will host its fourth quarter and year end conference call on Thursday, March 20, 2025, at 4:30 p.m. To access the live webcast of the conference call, log onto the QCi website at and click on the Investor Relations page. Investors may also access the webcast via the following link: To participate in the call by phone, dial (877) 545-0523 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0016. Callers should use access code: 605802. A replay of the teleconference will be available until April 3, 2025, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 52052. About Quantum Computing Inc. Quantum Computing Inc. (Nasdaq: QUBT) is an innovative, integrated photonics and quantum optics technology company that provides accessible and affordable quantum machines to the world today. QCi's products are designed to operate at room temperature and low power at an affordable cost. The Company's portfolio of core technologies and products offer unique capabilities in the areas of high-performance computing, artificial intelligence, and cybersecurity, as well as remote sensing applications. Company Contact:Rosalyn Christian/John NesbettIMS Investor Relationsqci@ Forward-Looking Statements This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements, generally identified by terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," "aim to," or variations of these or similar words, involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Those statements include statements regarding the intent, belief or current expectations of QCi and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including the timing of commencing production at our TFLN fabrication facility, and the outcome of ongoing collaborations and demonstration projects with certain U.S. government agencies, and that actual results may differ materially from those contemplated by such forward-looking statements. Except as required by federal securities law, QCi undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. IMPORTANT NOTICE TO USERS (summary only, click here for full text of notice): All information is unaudited unless otherwise noted or accompanied by an audit opinion and is subject to the more comprehensive information contained in our SEC reports and filings. We do not endorse third-party information. All information speaks as of the last fiscal quarter or year for which we have filed a Form 10-K or 10-Q, or for historical information the date or period expressly indicated in or with such information. We undertake no duty to update the information. Forward-looking statements are subject to risks and uncertainties described in our Forms 10-Q and 10-K. QUANTUM COMPUTING INC. Consolidated Balance Sheets (in thousands, except par value data)December 31, December 31,2024 2023Assets Current assets: Cash and cash equivalents$ 78,945 $ 2,059Accounts receivable, net 2765Inventory 1873Loans receivable, net -279Prepaid expenses and other current assets 161180Total current assets 79,1512,656Property and equipment, net 8,2122,870Operating lease right-of-use assets 1,5221,051Intangible assets, net 8,97212,076Goodwill 55,57355,573Other non-current assets 129129Total assets$ 153,559 $ 74,355 Liabilities and Stockholders' Equity Current liabilities: Accounts payable$ 1,372 $ 1,462Accrued expenses 2,134639Financial liabilities, net of issuance costs -1,925Deferred revenue 79-Other current liabilities 974786Total current liabilities 4,5594,812Derivative liability 40,532-Operating lease liabilities 1,181840Total liabilities 46,2725,652Contingencies (see Note 8) Stockholders' equity: Preferred stock, $0.0001 par value, 1,550 shares Series A Preferred authorized; no shares and 1,490 thousand shares issued and outstanding as of December 31, 2024 and 2023, respectively; 3,080 thousand shares of Series B Preferred Stock authorized; no shares issued and outstanding as of December 31, 2024 and 2023 --Common stock, $0.0001 par value, 250,000 thousand shares authorized; 129,012 thousand and 77,451 thousand shares issued and outstanding as of December 31, 2024 and 2023, respectively 138Additional paid-in capital 307,756200,635Accumulated deficit (200,482)(131,940)Total stockholders' equity 107,28768,703Total liabilities and stockholders' equity$ 153,559 $ 74,355 QUANTUM COMPUTING INC. Consolidated Statements of Operations (in thousands, except per share data)Three Months Ended Year EndedDecember 31, December 31,2024 2023 2024 2023Total revenue$ 62 $ 75 $ 373 $ 358Cost of revenue 2865261196Gross profit 3410112162Operating expenses Research and development 4,7581,91411,3188,891Sales and marketing 5754101,8181,806General and administrative 3,6154,26612,91315,708Total operating expenses 8,9486,59026,04926,405Loss from operations (8,914)(6,580)(25,937)(26,243)Non-operating income (expense) Interest and other income 24377423295Interest expense, net (2,034)(268)(2,496)(1,602)Change in value of warrant liabilities (40,532)144(40,532)528Loss before income tax provision (51,237)(6,627)(68,542)(27,022)Income tax provision ----Net loss (51,237)(6,627)(68,542)(27,022) Less: Series A convertible preferred stock dividends -(215)-861Net loss attributable to common stockholders$ (51,237) $ (6,842) $ (68,542) $ (27,883) Loss per share – basic and diluted$ (0.47) $ (0.09) $ (0.73) $ (0.42)Weighted average shares used in computing net loss per common share – basic and dilutive 108,53075,64993,88166,611 View original content to download multimedia: SOURCE Quantum Computing Inc. Sign in to access your portfolio
