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HOBOKEN, N.J. - Quantum Computing Inc. (NASDAQ:QUBT), a $2.99 billion market cap company whose shares have surged over 40% in the past week, has delivered its first commercial entangled photon source to a research institution in South Korea, the company announced Tuesday.
The product, designed for quantum networking and secure communications research, is built on Spontaneous Parametric Down-Conversion technology using periodically-poled lithium niobate. It operates in the C-band telecommunication range and is compatible with existing fiber optics infrastructure.
"Our entangled photon sources are an integral part of our quantum cybersecurity platform, which was recognized with the Edison Award in 2024," said Dr. Yong Meng Sua, Chief Technology Officer of QCi, according to the company’s press release.
The photon source technology relates to a patent co-authored by QCi’s Interim CEO Dr. Yuping Huang and Dr. Lac Nguyen, establishing an architecture for quantum key distribution. The company plans to miniaturize future generations of these sources using thin-film lithium niobate technology at its U.S.-based foundry.
Dr. Pouya Dianat, Chief Revenue Officer, called the shipment "a significant step in validating and commercializing our technology" and described it as a foundational product for the company’s quantum communications roadmap.
QCi, which trades on the Nasdaq, describes itself as an integrated photonics and quantum optics technology company offering quantum machines and thin-film lithium niobate foundry services. The company focuses on high-performance computing, artificial intelligence, cybersecurity, and remote sensing applications. While analysts expect 34% revenue growth this year, InvestingPro analysis suggests the stock is currently trading above its Fair Value. For deeper insights into QUBT’s valuation and 17 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Quantum Computing Inc. reported a surprising earnings per share (EPS) of 11 cents for Q1 2025, significantly outperforming the expected loss of 5 cents. However, the company’s revenue fell short of projections, reaching only $39,000 compared to the forecasted $300,000. Despite this revenue miss, the company raised $93.6 million through stock offerings in the first quarter. Quantum Computing Inc. also announced its inclusion in the Russell 2000 and 3000 indexes, a development that could increase its visibility among institutional investors. The company’s net income reached $17 million, or 13 cents per basic share, marking a considerable improvement from the previous year. Total assets rose to $242.5 million, up from $153.6 million at the end of 2024, although the gross margin declined to 33% from 41% year-over-year. In strategic moves, Quantum Computing Inc. highlighted new collaborations and product launches, including a partnership with NASA’s Langley Research Center. The company is also planning to expand its operations with a second fabrication facility to meet growing demand in quantum computing applications.
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