EarningsQBTS reported a stellar quarter, nicely beating expectations driven by its first ever system sale to Julich.
Financial PerformanceRevenue and Adjusted EBITDA were above versus street expectations, with total revenues of $15.0 million in the quarter.
Product DevelopmentThe latest generation 4,400+ qubit Advantage 2 system is expected to launch, which is anticipated to serve as a catalyst for additional sales opportunities with the strengthening pipeline of customer interest.
Technological AchievementQuantum supremacy was successfully demonstrated on a real-world magnetic simulation problem, generating a solution faster and with lower energy consumption than the leading supercomputer.