Quantum Computing Inc reports FY2022 net loss $38.6M, first revenue $136K, guides to EBITDA breakeven in 2 years

Quantum Computing Inc.

Revenue of $136K (55% gross margin) from professional services contracts; first revenues for the company.
Net loss $38.6M, up 38% YoY, including $16M non-recurring merger costs and $8.4M stock-based compensation.
Cash at year-end $5.3M; as of March 27, 2023 cash $7.5M; monthly cash burn ~$1.46M.
Completed QPhoton merger, doubling headcount and adding photonic hardware capability; 56M shares outstanding.
Guides to EBITDA breakeven at ~$30M annual revenue, expected within 2 years; product rollouts planned in 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Quantum Computing Inc. reported full year ending December 31, 2022 results: revenue approximately $136,000, net income $38.6 million. Guidance initiated.

Period: full year ending December 31, 2022
Revenue: approximately $136,000
Net income: $38.6 million
Guidance: initiated
Result: reported results

Exact text from the filing

Revenue during 2022, the company’s first revenues, totaled approximately $136,000 (55% gross margin) and is attributed to multi-month, professional services contracts with several commercial and government customers.

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Quantum Computing Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-024210

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