Quantum Computing Inc. (QCi) released its financial results for the three and twelve months ended December 31, 2024, on March 20, 2025. For the fourth quarter of 2024, total revenue was $62 thousand, a decrease from $75 thousand in Q4 2023. The company reported a net loss of $51.237 million, compared to a net loss of $6.627 million in Q4 2023, primarily due to a non-cash change in the value of warrant liabilities.
Operating expenses for Q4 2024 totaled $8.948 million, an increase from $6.590 million in Q4 2023. For the full year 2024, total revenue was $373 thousand, an increase from $358 thousand in 2023, with a net loss of $68.542 million, compared to $27.022 million in 2023.
Dr. William McGann, CEO of QCi, highlighted strengthening the financial position to support quantum solutions and foundry services, with a bolstered balance sheet. He noted that the Quantum Photonic Chip Foundry remained on track to launch in early 2025 with multiple purchase orders secured, and collaborations with NASA validated the Dirac-3 quantum optimization machine.
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