After-hours surge! Quantum Computing (QUBT.US) Q3 revenue skyrocketed 280%, holding over $1.5 billion in liquidity.

The third-quarter financial report released by the American quantum computing company Quantum Computing (QUBT.US) on Friday exceeded Wall Street expectations, while also revealing ample funds, boosting market confidence, and causing the company's stock price to rise accordingly. The financial report showed that in the quarter ending in September, Quantum Computing achieved a net profit of $2.4 million (or $0.01 per share), a significant improvement from the $5.7 million loss (or $0.06 per share) in the same period last year, with analysts expecting a loss of $0.06 per share. Revenue increased by 280% year-on-year to $384,000, compared to market expectations of only $100,000. Regarding the significant increase in revenue, Quantum Computing explained in the financial report: "This is mainly due to the increase in the number, scale, and investment intensity of R&D services and custom hardware contracts. Additionally, the company has begun to recognize revenue generated through cloud access to the Dirac-3 quantum optimization system." Analysts currently predict that the company's revenue for the quarter ending in December will reach $200,000. In addition, the company's operating expenses for the third quarter increased to $10.5 million, higher than the $5.4 million in the same period last year. This increase is mainly due to the company's expanded investments in engineering, R&D, and manufacturing to support business expansion. However, interim CEO Yuping Huang mentioned: "As of the end of the third quarter, we have $352 million in cash and $461 million in investments. After the quarter, we successfully raised $750 million in financing. Currently, the company's total liquid assets exceed $1.5 billion, laying a solid foundation for executing long-term growth strategies." In terms of business progress, Quantum Computing has secured a purchase order from a top U.S. bank for its quantum network security solution, marking a crucial step in the commercialization of its quantum security platform. As the demand for quantum artificial intelligence and cybersecurity solutions increases across industries, the company is accelerating its presence in related fields. Furthermore, Quantum Computing's collaboration with NASA has deepened, with both parties jointly advancing a joint project that applies quantum optimization technology to spaceborne laser radar data. After the financial report was released, Quantum Computing's stock rose more than 13% after hours. However, as of Friday's close, the stock has still fallen by nearly 36% this year. It is understood that the company, located in Tempe, Arizona, has a dedicated production base and focuses on developing quantum computers based on the principles of photonics. Quantum Computing's technology is based on the subatomic level, typically requiring cutting-edge technologies such as superconducting chips. Research and development in this field are aimed at solving complex problems that traditional computers cannot handle.