Quantum Computing Inc. (NASDAQ:QUBT) shares are trading lower on Tuesday despite the company marking a significant milestone in its growth trajectory.
Quantum Computing has received its third and fourth purchase orders for its thin-film lithium niobate (TFLN) photonic chip foundry, a component of its Foundry Pilot Launch Program.
The orders come from a well-known European technical university and a Canadian photonic integrated circuit design house, expanding the company's customer base across both research and commercial sectors.
The university is set to leverage Quantum Computing periodically poled lithium niobate structures for optical frequency conversion and entangled photon generation, particularly in advanced telecommunications applications.
These structures are key to the company's roadmap for quantum technologies, and their successful production is pivotal to the company's future in the quantum space.
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The order from the Canadian PIC design company marks a milestone as Quantum Computing's first commercial order.
The project includes the taping out of a custom TFLN PIC chip, with expected delivery in the second quarter of 2025.
Additionally, the company has completed partial delivery of its first foundry order, shipped in December 2024 to a customer in Asia, marking the start of Quantum Computing's international expansion.
QCi has advanced its TFLN technology at its U.S.-based semiconductor foundry in Tempe, Arizona, over the past year, setting the stage for growth this year as its foundry services come online.
The company also plans to showcase its services at the SPIE Photonics West 2025, further solidifying its presence in the photonics and quantum technologies sector.
Price Action: QUBT shares are trading lower by 5.71% to $17.06 at last check Tuesday.
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