Quantum Computing Inc

NASDAQ:QUBTUnited States

NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

Nov 6, 2024

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• -- Earnings Flash (QUBT) QUANTUM COMPUTING Reports Q3 Revenue $101,000, from 4:27PM ET on Wednesday Nov 06, 2024 by MT Newswires

  4:27PM ET on Wednesday Nov 06, 2024 by MT Newswires
  Companies Mentioned: QUBT
  04:27 PM EST, 11/06/2024 (MT Newswires) -- ...

• Quantum Computing Inc. Reports Third Quarter 2024 Financial Results, from 4:05PM ET on Wednesday Nov 06, 2024 by PR Newswire

  4:05PM ET on Wednesday Nov 06, 2024 by PR Newswire
  Companies Mentioned: QUBT

  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 nine-month periods ended September 30, 2024.

• Quantum Computing Inc. Reports Third Quarter 2024 Financial Results, from 4:05PM ET on Wednesday Nov 06, 2024 by Dow Jones

  4:05PM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: QUBT
  Total assets $ 76,810 $ 74,355 =========== ========== Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 923 $ 1,462 Accrued expenses 539 639 Financial liabilities, net of issuance costs - 1,925 Deferred revenue 48 - Other current liabilities 921 786 ----------- ---------- Total current liabilities 2,431 4,812 ----------- ---------- Financial liabilities, net of issuance costs 7,180 - Operating lease liabilities 1,297 840 ----------- ---------- Total liabilities 10,908 5,652 ----------- ---------- Mezzanine equity 5,463 - Stockholders' equity Preferred stock, $0.0001 par value, 1,550 shares Series A Preferred authorized; 993 thousand and 1,490 thousand shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively; 3,080 thousand shares of Series B Preferred Stock authorized; no shares issued and outstanding as of September 30, 2024 and December 31, 2023 - - Common stock, $0.0001 par value, 250,000 thousand shares authorized; 94,416 thousand and 77,451 thousand shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 9 8 Additional paid-in capital 209,675 200,635 Accumulated deficit (149,245) (131,940) ----------- ---------- Total stockholders' equity 60,439 68,703 ----------- ---------- Total liabilities and mezzanine and stockholders' equity $ 76,810 $ 74,355 =========== ========== QUANTUM COMPUTING INC. Condensed Consolidated Statements of Operations (Unaudited, in thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, ---------------------- ----------------------- 2024 2023 2024 2023 -------- ------------ --------- ------------ (Restated) (Restated) Total revenue $ 101 $ 50 $ 311 $ 283 Cost of revenue 92 24 233 131 ------- -------- -------- -------- Gross profit 9 26 78 152 Research and development 2,244 2,328 6,560 6,977 Sales and marketing 363 584 1,243 1,397 General and administrative 2,840 3,725 9,298 11,442 ------- -------- -------- -------- Operating expenses 5,447 6,637 17,101 19,816 Loss from operations (5,438) (6,611) (17,023) (19,664) Non-operating income (expense) Interest and other income 70 126 180 219 Interest expense, net (307) (369) (462) (1,334) Change in value of warrant liabilities - 13 - 384 ------- -------- -------- -------- Loss before income tax provision (5,675) (6,841) (17,305) (20,395) Income tax provision - - - - ------- -------- -------- -------- Net loss (5,675) (6,841) (17,305) (20,395) Less: Series A convertible preferred stock dividends - (215) - (646) ------- -------- -------- -------- Net loss attributable to common stockholders $(5,675) $ (7,056) $(17,305) $ (21,041) ======= ======== ======== ======== Loss per share -- basic and diluted $ (0.06) $ (0.10) $ (0.19) $ (0.33) ======= ======== ======== ======== Weighted average shares used in computing net loss per common share -- basic and dilutive 93,048 71,588 89,063 64,246
  

• Press Release: Quantum Computing Inc. Reports Third Quarter 2024 Financial Results, from 4:05PM ET on Wednesday Nov 06, 2024 by Dow Jones

  4:05PM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: QUBT
  Total assets $ 76,810 $ 74,355 =========== ========== Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 923 $ 1,462 Accrued expenses 539 639 Financial liabilities, net of issuance costs - 1,925 Deferred revenue 48 - Other current liabilities 921 786 ----------- ---------- Total current liabilities 2,431 4,812 ----------- ---------- Financial liabilities, net of issuance costs 7,180 - Operating lease liabilities 1,297 840 ----------- ---------- Total liabilities 10,908 5,652 ----------- ---------- Mezzanine equity 5,463 - Stockholders' equity Preferred stock, $0.0001 par value, 1,550 shares Series A Preferred authorized; 993 thousand and 1,490 thousand shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively; 3,080 thousand shares of Series B Preferred Stock authorized; no shares issued and outstanding as of September 30, 2024 and December 31, 2023 - - Common stock, $0.0001 par value, 250,000 thousand shares authorized; 94,416 thousand and 77,451 thousand shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 9 8 Additional paid-in capital 209,675 200,635 Accumulated deficit (149,245) (131,940) ----------- ---------- Total stockholders' equity 60,439 68,703 ----------- ---------- Total liabilities and mezzanine and stockholders' equity $ 76,810 $ 74,355 =========== ========== QUANTUM COMPUTING INC. Condensed Consolidated Statements of Operations (Unaudited, in thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, ---------------------- ----------------------- 2024 2023 2024 2023 -------- ------------ --------- ------------ (Restated) (Restated) Total revenue $ 101 $ 50 $ 311 $ 283 Cost of revenue 92 24 233 131 ------- -------- -------- -------- Gross profit 9 26 78 152 Research and development 2,244 2,328 6,560 6,977 Sales and marketing 363 584 1,243 1,397 General and administrative 2,840 3,725 9,298 11,442 ------- -------- -------- -------- Operating expenses 5,447 6,637 17,101 19,816 Loss from operations (5,438) (6,611) (17,023) (19,664) Non-operating income (expense) Interest and other income 70 126 180 219 Interest expense, net (307) (369) (462) (1,334) Change in value of warrant liabilities - 13 - 384 ------- -------- -------- -------- Loss before income tax provision (5,675) (6,841) (17,305) (20,395) Income tax provision - - - - ------- -------- -------- -------- Net loss (5,675) (6,841) (17,305) (20,395) Less: Series A convertible preferred stock dividends - (215) - (646) ------- -------- -------- -------- Net loss attributable to common stockholders $(5,675) $ (7,056) $(17,305) $ (21,041) ======= ======== ======== ======== Loss per share -- basic and diluted $ (0.06) $ (0.10) $ (0.19) $ (0.33) ======= ======== ======== ======== Weighted average shares used in computing net loss per common share -- basic and dilutive 93,048 71,588 89,063 64,246