Arqit Quantum Inc. announced select preliminary financial results for the first half of fiscal year 2025, ending March 31, 2025, with expected revenue ranging from approximately $18,000 to $67,000. The company's cash and cash equivalents were approximately $24.7 million as of March 31, 2025.
The modest revenue for the period was primarily attributed to an end customer delay in commencing activity under a multi-year enterprise license contract in the EMEA region. This contract, signed prior to the end of fiscal year 2024, is expected to generate seven figures in annual recurring revenue in total, with revenue generation beginning in late March.
In a separate development, Arqit's motion to dismiss a putative class action lawsuit in the United States District Court for the Eastern District of New York was denied on March 28, 2025. The company stated it continues to believe it has strong defenses to the underlying allegations and intends to vigorously defend the claim.
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