- Revenue: $7.6M, flat YoY
- Net Loss: $32.3M vs $39.6M in Q1 2024
- Cash & Equivalents: $697.1M as of Mar 31, 2025
CEO Niccolo de Masi: "We’re delivering real-world value for our customers today, including a recent demonstration of a 12% speed improvement over classical computing in a simulation of a heart pump using quantum processed data and a production product by our partner Ansys."
🌱Revenue & Growth
- Revenue: $7.6M, +0% YoY
- Bookings: Not disclosed for Q1 2025
- Potential market size for energy grid applications: $50B-$100B
- Potential market size for drug discovery: $40B-$80B
- Potential market size for simulation analysis: $10B-$20B
💰Profits & Health
- Net Loss: $32.3M vs $39.6M in Q1 2024
- Adjusted EBITDA Loss: $35.8M vs $27.0M in Q1 2024
- Cash, Cash Equivalents, Investments: $697.1M
- Gross Margin: Not disclosed
- Operating Margin: Not disclosed
📌Business Highlights
- Signed $22M deal with EPB for Forte Enterprise system
- Closed acquisition of ID Quantique, Apr 2025
- Pending acquisitions of Lightsynq and Capella, May 2025
- Selected for DARPA Quantum Benchmarking Initiative
- Demonstrated 12% speed improvement with Ansys at NVIDIA GTC
🔮Future Outlook
- Full-year revenue guidance: $75M-$95M
- Q2 revenue guidance: $16M-$18M
- Accelerate systems to 10,000s-1,000,000s of qubits
- Expand quantum networking with Lightsynq and Capella
- Develop quantum internet with repeaters over 100km