Quantum Computing Inc. Releases Mid-Year Business Update

Rhea-AI Summary

Quantum Computing Inc. (QCi) (Nasdaq: QUBT) has released a mid-year business update highlighting its strategic progress. Key developments include:

1. Establishing the first U.S.-based Thin Film Lithium Niobate (TFLN) fabrication facility in Tempe, Arizona, scheduled for Q4 2024.

2. Finalizing two new high-performance computing platforms and a broad remote sensing platform for LiDAR applications.

3. Launching an 'Accessible and Affordable' marketing campaign for its Dirac-3 computer, emphasizing its competitive price, compact size, and low energy consumption.

4. Appointing Richard Nelson as SVP of Business Development and Pouya Dianet as Director of TFLN Optical Chip Sales.

5. Selecting BPM LLP as its new auditor and engaging IMS Investor Relations to enhance financial transparency and investor communications.

Positive

• Establishment of the first U.S.-based TFLN fabrication facility in Q4 2024
• Development of two new high-performance computing platforms and a LiDAR-based remote sensing platform
• Launch of 'Accessible and Affordable' marketing campaign for the Dirac-3 computer
• Appointment of two new leaders to strengthen sales and business development
• Selection of new auditor and investor relations firm to improve financial reporting and transparency

Negative

• None.

HOBOKEN, N.J., Aug. 1, 2024 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), an innovative, quantum optics and nanophotonics technology company, today released its July company newsletter containing a mid-year business update from its Chief Executive Officer, Dr. William McGann.

This update provides an in-depth look at QCi's strategic progress and positive changes implemented over the past six months.

Mid-year company highlights:

• Go-To Market Strategy: QCi is continuously evolving its business while maintaining a singular focus on photonics solutions for real-world applications.
  
  
• Thin Film Lithium Niobate (TFLN) Foundry: QCi is on schedule to establish in 4Q24 the first U.S.-based fabrication facility devoted to TFLN processing in Tempe, Arizona.
  
  
• Launch of New Products: QCi has finalized the development of two new platforms in high-performance computing and one broad remote sensing platform focusing on the use of LiDAR-based applications.
  
  
• Accessible and Affordable Campaign: To introduce potential customers to our new products, QCi has launched a new marketing campaign focusing on the practical advantages of its optical technology. With its affordable price, small, stackable size, and low energy consumption, QCi believes that the Dirac-3 computer offers unsurpassed price and performance.
   
• Two New Leaders Join QCi Team: To lead the company's new sales strategy, QCi has appointed Richard Nelson to serve as Senior Vice President of Business Development and Pouya Dianet to serve as Director for its TFLN Optical Chip Sales.
  
  
• Selection of New Independent Auditor and Investor Relations Advisor: QCi is committed to maintaining transparency and ensuring the highest standards of financial reporting. Recently, the company announced a new auditor, BPM LLP as well as engaged IMS Investor Relations as its new investor relations firm.

Read the full letter on QCi's website here.

About Quantum Computing Inc.

Quantum Computing Inc. (QCi) (Nasdaq: QUBT) is an innovative, integrated photonics company that provides accessible and affordable quantum machines to the world today. QCi products are designed to operate at room temperature and low power at an affordable cost. The Company's portfolio of core technology and products offer unique capabilities in the areas of high-performance computing, artificial intelligence, cybersecurity, as well as remote sensing applications.

 

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SOURCE Quantum Computing Inc.

FAQ

What is Quantum Computing Inc.'s (QUBT) plan for TFLN fabrication in 2024?

Quantum Computing Inc. (QUBT) plans to establish the first U.S.-based Thin Film Lithium Niobate (TFLN) fabrication facility in Tempe, Arizona, scheduled for the fourth quarter of 2024.

What new products has Quantum Computing Inc. (QUBT) developed in 2024?

Quantum Computing Inc. (QUBT) has finalized the development of two new platforms in high-performance computing and one broad remote sensing platform focusing on LiDAR-based applications.

Who are the new leaders joining Quantum Computing Inc. (QUBT) in 2024?

Quantum Computing Inc. (QUBT) has appointed Richard Nelson as Senior Vice President of Business Development and Pouya Dianet as Director for TFLN Optical Chip Sales.

What is Quantum Computing Inc.'s (QUBT) new marketing campaign about?

Quantum Computing Inc. (QUBT) has launched an 'Accessible and Affordable' marketing campaign to introduce potential customers to its new products, focusing on the practical advantages of its optical technology, particularly the Dirac-3 computer.