Microvast Holdings announces departure of chief financial officer
HOBOKEN, N.J. - Quantum Computing Inc. (Nasdaq: QUBT), a company specializing in integrated photonics and quantum optics technology, has announced a new purchase order for its Quantum Photonic Vibrometer (QPV) from the Department of Aerospace Structures and Materials at Delft University of Technology (TU Delft) in the Netherlands. The order marks the company’s second in its LiDAR-based Research & Development offering.
TU Delft, recognized globally as a top technical university, will utilize the QPV for Non-Destructive Testing (NDT) and Structural Health Monitoring (SHM) in challenging operational environments. Assistant Professor Vahid Yaghoubi of TU Delft stated that the QPV’s advanced photon-counting capabilities and high sensitivity make it a suitable tool for their research, offering unique advantages over traditional Laser Doppler Vibrometers (LDVs).
The QPV operates at an eye-safe wavelength and is capable of characterizing vibrational spectra with amplitudes as low as 110 nanometers, a feature that is set to be benchmarked against classical vibrometers by TU Delft under the guidance of Professor Yaghoubi. InvestingPro analysis shows the company maintains a strong financial position with a healthy current ratio of 17.36, indicating robust liquidity to support its technological developments. Get access to 15+ additional ProTips and comprehensive financial analysis with InvestingPro.
Dr. William McGann, CEO of QCi, expressed excitement about providing their American-made technology to an esteemed international institution, highlighting the demand for sensitive and effective vibrometer solutions.
This collaboration follows a previous order from John Hopkins University for QCi’s Scanning LiDAR technology. Dr. Jeeva Ramanathan, Quantum Tech Lead at QCi, emphasized the significance of the QPV in various applications, from material quality assessment to operational performance monitoring.
Associate Professor Nathan Eskue of TU Delft had previously visited QCi’s headquarters to test and train on the device for his work on Advancing Industry 5.0. The collaboration is part of ongoing efforts between QCi and TU Delft, which includes a series of planned publications.
Quantum Computing Inc. is known for its accessible and affordable quantum machines designed for high-performance computing, artificial intelligence, cybersecurity, and remote sensing applications. The company’s products are designed to operate at room temperature with low power requirements. With a beta of 3.26 and significant price volatility, QUBT represents a dynamic growth opportunity, though analysts anticipate continued unprofitability this year. Discover detailed insights and expert analysis in the comprehensive Pro Research Report, available exclusively on InvestingPro.
This news is based on a press release statement from Quantum Computing Inc.
In other recent news, Quantum Computing Inc. reported a significant miss in its Q4 2024 earnings, with an earnings per share (EPS) of -$0.47, falling short of the anticipated -$0.08. The company’s revenue was also below expectations, reaching only $62,000 compared to the forecasted $400,000. Despite the earnings miss, Quantum Computing improved its gross margin to 55% from 13% a year ago, suggesting better cost management. The company also highlighted its product innovation with the DIRAC3 Quantum Optimization Machine and secured five purchase orders for photonic chips. In other developments, Quantum Computing anticipates the completion of its photonic chip foundry by March 2025, with initial deliveries expected in the second quarter of 2025. The company aims to drive revenue growth through its foundry and quantum machines, expand industry partnerships, and focus on research and development. Additionally, Quantum Computing’s CEO, Dr. William McGahn, emphasized the company’s strong financial position and commitment to innovation as key drivers for future growth. These recent developments reflect Quantum Computing’s strategic initiatives and ongoing efforts to strengthen its market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.