Quantum Computing Inc. Secures New University Order, Boosts Stock and Technological Advancements

Quantum Computing Inc. (NASDAQ: QUBT), a leading company in photonics and quantum optics technology, has announced a significant new purchase order from the University of Texas at Austin. This order is for the company’s thin film lithium niobate (TFLN) photonic chip foundry, which is part of QCi’s pilot launch program. The order is set to be fulfilled in the first quarter of 2025 and will support the University’s RF Acoustic Microsystem Group’s research efforts.

The collaboration aims to advance chip-scale acoustic and cross-domain microsystems, with QCi providing custom fabrication services tailored to the University’s research needs. This partnership underscores the commercial viability and expanding capabilities of the QCi Foundry, which is scheduled to start production in early 2025. The foundry, located in Tempe, Arizona, is dedicated to processing TFLN and other transition metal ferroelectrics, positioning QCi as a key player in the optical chip market.

Recent financial developments for Quantum Computing Inc. include a $40 million stock offering, marking a significant financial milestone. The company is also progressing toward the launch of its quantum photonic chip foundry and has secured a new contract with NASA to develop cost-effective quantum remote sensing technology for spaceborne LIDAR imaging. Additionally, QCi has extended its partnership with Los Alamos National Laboratory, focusing on the Dirac-3 quantum optimization machine.

Despite these advancements, Quantum Computing Inc. is currently facing potential delisting from the Nasdaq Stock Market due to non-compliance with a listing rule. However, analysts maintain a “Strong Buy” rating on the company’s stock, with a 12-month price target of $8.50. The stock has shown impressive returns over the last month and three months, with total returns of 176.09% and 313.48%, respectively, indicating growing investor confidence in QUBT’s potential.

The company’s financial performance has been robust, with a 102.0% increase in quarterly revenue as of Q3 2024. This strong growth aligns with the company’s expanding capabilities and the commercial viability of its TFLN photonic chip foundry. Analysts anticipate continued sales growth in the current year, consistent with the company’s recent order announcements and the scheduled production start of the QCi Foundry).