Quantum Computing Inc. reported Q3 2024 financial results with total revenue increasing 102% to $101,000 compared to $50,000 in Q3 2023. The company reduced operating expenses by 18% to $5.4 million, while net loss decreased 17% to $5.7 million compared to the prior year period. Gross margin was 9% versus 52% in Q3 2023.The company continued investing in its AZ Chips Facility development and quantum technology research. As of September 30, 2024, cash and cash equivalents stood at $3.1 million, supported by $14.6 million in net proceeds from ATM facility sales and a new $8.25 million convertible note. Research and development expenses decreased 4% to $2.2 million while general and administrative costs fell 24% to $2.8 million.Management indicated substantial doubt about the company's ability to continue as a going concern, citing the need for additional financing within 12 months. The company is pursuing various funding options including public/private equity, debt financing and government grants to support ongoing operations and development of its quantum computing and photonics technology platforms.

Quantum Computing Inc. reported Q3 2024 financial results with total revenue increasing 102% to $101,000 compared to $50,000 in Q3 2023. The company reduced operating expenses by 18% to $5.4 million, while net loss decreased 17% to $5.7 million compared to the prior year period. Gross margin was 9% versus 52% in Q3 2023.The company continued investing in its AZ Chips Facility development and quantum technology research. As of September 30, 2024, cash and cash equivalents stood at $3.1 million, supported by $14.6 million in net proceeds from ATM facility sales and a new $8.25 million convertible note. Research and development expenses decreased 4% to $2.2 million while general and administrative costs fell 24% to $2.8 million.Management indicated substantial doubt about the company's ability to continue as a going concern, citing the need for additional financing within 12 months. The company is pursuing various funding options including public/private equity, debt financing and government grants to support ongoing operations and development of its quantum computing and photonics technology platforms.