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HOBOKEN, N.J. - Quantum Computing Inc. (NASDAQ:QUBT), a quantum technology company with a market capitalization of $2.93 billion, announced Tuesday it has secured a purchase order worth approximately $332,000 from a Top 5 U.S. bank for its quantum communication system, marking the company’s first commercial sale of quantum cybersecurity solutions in the United States. According to InvestingPro data, the company has demonstrated strong financial health with a current ratio of 44.69, indicating robust liquidity.
The system will be used to establish a secure, air-gapped quantum security testbed within the bank’s new Cybersecurity Quantum Optics Lab. According to the company’s statement, the testbed will explore quantum security technologies including quantum key distribution, quantum authentication, and quantum random number generation. With analysts projecting 61% revenue growth for fiscal year 2025, QUBT shows promising commercial potential despite current unprofitability.
QCi’s quantum communication systems generate and detect entangled photons at telecom wavelengths in rack-mountable devices designed to integrate with existing telecom infrastructure. The systems implement both quantum encryption and the company’s patented quantum authentication protocols.
"This order represents a pivotal commercial validation of QCi’s quantum photonics and hardware capabilities," said Dr. Yong Meng Sua, CTO at QCi, in the press release.
The purchase includes professional services and extended warranty coverage in addition to the hardware delivery, suggesting a longer-term partnership between the companies.
QCi describes itself as an integrated photonics and quantum optics technology company that provides quantum machines and foundry services for photonic chips based on thin-film lithium niobate. The company’s products are designed to operate at room temperature with low power consumption.
The announcement comes as financial institutions increasingly explore quantum technologies to strengthen cybersecurity measures against evolving threats. With a beta of 3.97, QUBT exhibits significant price volatility typical of emerging technology stocks. For deeper insights into QUBT’s valuation and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks.
In other recent news, Quantum Computing Inc. has successfully raised $200 million through a private placement of common stock, selling 14,035,089 shares at $14.25 each to institutional investors. This transaction bolsters the company’s cash reserves to over $350 million, which it plans to use for commercialization efforts, strategic acquisitions, and general corporate purposes. Titan Partners Group acted as the sole placement agent for this offering. Additionally, Quantum Computing Inc. has shipped its first commercial entangled photon source to a research institution in South Korea, marking a significant milestone in its quantum communications roadmap. The product operates in the C-band telecommunication range and integrates with existing fiber optics infrastructure. Cantor Fitzgerald has initiated coverage on Quantum Computing with a Neutral rating, noting the sector’s high valuations relative to near-term revenue and earnings forecasts. The firm also highlighted the potential for significant economic implications as quantum computing technology matures. These developments indicate Quantum Computing Inc.’s focus on advancing its technology and expanding its market presence.
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