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Quantum Numbers Corp. (TSE:QNC)
:QNC

Quantum Numbers (QNC) AI Stock Analysis

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TSE:QNC

Quantum Numbers

(QNC)

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Neutral 54 (OpenAI - 5.2)
Rating:54Neutral
Price Target:
C$5.00
▲(0.00% Upside)
The score is held down primarily by weak financial performance (no revenue, widening losses, and continued cash burn). This is partly balanced by strong technical momentum and a favorable stream of positive corporate developments, but valuation remains constrained by ongoing losses and no dividend support.

Quantum Numbers (QNC) vs. iShares MSCI Canada ETF (EWC)

Quantum Numbers Business Overview & Revenue Model

Company DescriptionQuantum eMotion Corp. engages in the development of cryptographic solutions based on quantum random number generators in Canada. It develops and markets encrypted data and communication solutions for financial, military, mobile, and internet telecommunication sectors. The company was formerly known as Quantum Numbers Corp. and changed its name to Quantum eMotion Inc. in June 2021. Quantum eMotion Corp. was incorporated in 2007 and is headquartered in Montreal, Canada.
How the Company Makes MoneyQuantum Numbers (QNC) generates revenue primarily through the sale and licensing of its quantum random number generators (QRNGs). The company's revenue model is based on direct sales to businesses and institutions that integrate these QRNGs into their security infrastructure. Additionally, QNC enters into licensing agreements with third-party technology providers, allowing them to incorporate QNC's QRNG technology into their own products, generating royalty-based income. The company also explores strategic partnerships with major players in the technology and cybersecurity sectors to expand its market reach and enhance its product offerings, which contributes to its revenue streams.

Quantum Numbers Financial Statement Overview

Summary
Quantum Numbers faces significant financial challenges with no revenue generation and consistent losses. The balance sheet shows low leverage, which is a positive, but the lack of cash flow sustainability poses a risk. The company needs to find ways to generate revenue and manage cash flows effectively to improve its financial health.
Income Statement
Quantum Numbers has consistently reported zero revenue over the past years, indicating no growth in its sales capabilities. The company has negative EBIT and net income, reflecting operational and financial challenges. Lack of revenue growth and persistent losses are significant concerns.
Balance Sheet
The company maintains a low debt-to-equity ratio, indicating conservative leverage practices. However, the declining equity base and consistent net losses are concerning, affecting the company's solvency and long-term stability.
Cash Flow
Quantum Numbers reports negative operating and free cash flows, highlighting significant cash outflows without revenue generation. This raises concerns about sustainability and the need for external financing.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue0.000.000.000.000.000.00
Gross Profit-18.18K-22.31K0.00-22.30K-22.30K-24.64K
EBITDA-7.63M-2.94M-2.09M-2.17M-1.53M-773.40K
Net Income-7.71M-2.97M-2.39M-2.80M-1.56M-799.25K
Balance Sheet
Total Assets26.13M1.86M1.65M4.04M3.10M672.68K
Cash, Cash Equivalents and Short-Term Investments24.71M1.45M1.08M3.51M2.04M20.09K
Total Debt60.27K46.35K40.00K40.00K53.57K31.89K
Total Liabilities555.19K519.61K226.81K377.75K389.43K450.90K
Stockholders Equity25.57M1.34M1.42M3.66M2.71M221.78K
Cash Flow
Free Cash Flow-3.34M-2.11M-2.43M-1.63M-1.81M-320.79K
Operating Cash Flow-3.32M-2.11M-2.08M-1.62M-1.47M-320.79K
Investing Cash Flow-25.17M668.49K-196.80K-21.03K-1.34M748.00
Financing Cash Flow28.70M2.49M0.003.21M3.81M52.50K

Quantum Numbers Technical Analysis

Technical Analysis Sentiment
Positive
Last Price5.00
Price Trends
50DMA
3.73
Positive
100DMA
2.70
Positive
200DMA
1.90
Positive
Market Momentum
MACD
0.42
Positive
RSI
56.08
Neutral
STOCH
22.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:QNC, the sentiment is Positive. The current price of 5 is above the 20-day moving average (MA) of 4.34, above the 50-day MA of 3.73, and above the 200-day MA of 1.90, indicating a bullish trend. The MACD of 0.42 indicates Positive momentum. The RSI at 56.08 is Neutral, neither overbought nor oversold. The STOCH value of 22.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:QNC.

Quantum Numbers Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
54
Neutral
C$1.01B-107.46-58.71%-124.61%
52
Neutral
C$159.10M-12.31-108.12%-12.14%4.41%
44
Neutral
C$80.69M-11.0550.72%
39
Underperform
C$41.21M-12.11
27
Underperform
C$24.28M-4.76-542.11%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:QNC
Quantum Numbers
4.61
3.71
412.22%
TSE:BYL
Baylin Tech
0.27
-0.13
-32.50%
TSE:HPQ
HPQ-Silicon Resources
0.19
-0.05
-20.83%
TSE:MRM
Micromem Technologies
0.04
-0.03
-42.86%
TSE:XTRA
Xtract One
0.64
0.10
18.52%
TSE:NSCI
Nanalysis Scientific
0.16
-0.22
-57.89%

Quantum Numbers Corporate Events

Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Quantum eMotion Secures Perfect DeFi Audit Score as It Advances Quantum-Safe Certification
Positive
Dec 29, 2025

Quantum eMotion announced that its quantum entropy technology has demonstrated strong real-world security performance across decentralized finance, quantum-attack simulations and formal certification processes, anchored by a perfect 100/100 security audit score and 5-star confidence rating for the Krown Network and KrownDEX, which use its QRNG2 engine for hardware-grade randomness. Building on earlier IBM Qiskit-based simulations showing that QRNG-enhanced architectures significantly increase the difficulty of Grover-style quantum brute-force attacks, the company is now pursuing FIPS 140-3 validation of its Quantum Crypto Module with NIST-accredited Lightship Security, creating a layered validation stack that strengthens its positioning for deployment in regulated U.S. and Canadian sectors such as government, defence, healthcare, financial services and critical infrastructure.

Business Operations and Strategy
Quantum eMotion Becomes Top Holding in $3 Billion Defiance Quantum ETF
Positive
Dec 22, 2025

Quantum eMotion has become the largest single holding in the Defiance Quantum ETF (QTUM) after the fund increased its position to about 2.18% of its portfolio, or 18.48 million shares, following a semi-annual index rebalancing. The move, within a $3 billion ETF dedicated to quantum computing and machine learning, signals heightened institutional recognition of Quantum eMotion’s quantum cybersecurity and entropy technologies and reflects its improved liquidity, strong market performance, and growing commercial footprint across healthcare, AI infrastructure, energy systems, and digital assets, boosting its visibility with U.S. institutional investors and supporting its push to accelerate commercialization, expand partnerships, and pursue U.S. market initiatives.

Business Operations and StrategyProduct-Related Announcements
Greybox Launches Reimbursed Chronic Care Platform for U.S. Senior Living, Sets Up Irvine Hub
Positive
Dec 18, 2025

Greybox Solutions Inc., in partnership with Quantum eMotion and Vigilant Care Monitoring, has launched what it calls the first fully reimbursed chronic care and remote patient monitoring platform tailored for senior living communities in the United States, while establishing Irvine, California as its U.S. headquarters. Leveraging CMS reimbursement pathways for Remote Patient Monitoring and Chronic Care Management, the TAKECARE platform enables assisted living operators to monitor high-acuity seniors in real time, automate clinical workflows, and secure recurring Medicare revenue, addressing industry challenges such as staffing shortages, rising clinical risk, and increasing resident acuity. The model, initially rolled out in Brian Schott’s California assisted living operations with plans for broader expansion, positions Greybox at the intersection of value-based care and advanced cybersecurity, using quantum-safe architecture to protect sensitive health data and bolster resilience for AI-driven analytics and connected care ecosystems, a particularly critical safeguard for vulnerable senior populations.

Business Operations and StrategyProduct-Related Announcements
Aegis and Quantum eMotion Unveil Quantum-Secured Energy Storage for Extreme Conditions
Positive
Dec 2, 2025

Aegis Critical Energy Defence Corp., in collaboration with Quantum eMotion and other partners, has launched the Tough Bhoy™, a quantum-secured energy storage system designed for extreme environments such as Arctic conditions, remote communities, and critical infrastructure. This innovative system provides resilient power, integrates seamlessly with existing assets, and is fortified with advanced cybersecurity measures, ensuring reliable energy continuity and system resilience in harsh and isolated settings.

Business Operations and StrategyProduct-Related Announcements
Quantum eMotion and Exascale Labs Partner to Enhance AI Security
Positive
Nov 26, 2025

Quantum eMotion Corporation and Exascale Labs have announced a multi-year partnership to integrate quantum-grade cryptographic technology into large-scale AI compute infrastructure. This collaboration aims to create a highly secure environment for AI workloads by combining Exascale’s GPU platform with QeM’s Quantum Random Number Generator technology. The initiative is expected to enhance AI infrastructure security, protect against cyber threats, and safeguard sensitive data across various sectors, aligning with the growing AI and quantum cryptography markets.

Business Operations and StrategyProduct-Related Announcements
Quantum eMotion and Energy Plug Unite for Quantum-Secure Energy Storage
Positive
Nov 13, 2025

Quantum eMotion Corp. and Energy Plug Technologies Corp. have formed a Joint Development Steering Committee to integrate Quantum eMotion’s Quantum Random Number Generator (QRNG) chips into Energy Plug’s energy storage systems. This collaboration aims to enhance cybersecurity in critical infrastructure, addressing increasing threats to Canada’s energy sector by providing quantum-secure battery solutions that generate cryptographic keys with true quantum randomness, thus eliminating certain remote-exploitation attacks.

Business Operations and StrategyProduct-Related Announcements
Krown Technologies and Quantum eMotion Unveil Quantum-Secured Hot Wallet ‘Qastle’
Positive
Nov 3, 2025

Krown Technologies and Quantum eMotion have launched Qastle, the first hot wallet secured by Quantum Entropy and Post-Quantum Encryption, aiming to disrupt the crypto-wallet market, which is projected to exceed $100 billion by 2033. Qastle’s innovative security features, leveraging Quantum Entropy-as-a-Service and post-quantum cryptography, provide unprecedented protection against cyber threats, positioning both companies at the forefront of the evolving digital asset security landscape, with significant revenue potential and user adoption anticipated.

Business Operations and StrategyProduct-Related Announcements
Energy Plug Secures Pre-Order for Innovative 261 kWh Energy Storage System
Positive
Oct 29, 2025

Energy Plug Technologies Corp., in collaboration with Quantum eMotion, SEETEL New Energy, and Malahat Battery Technologies, has secured a pre-order for 20 units of its new 261 kWh Battery Energy Storage System (ESS). This system, designed to integrate with diesel generators, offers enhanced efficiency, reliability, and environmental performance, catering to industries needing dependable off-grid power. The pre-order signifies market confidence in Energy Plug’s hybrid ESS, which is expected to be available in early 2026, aligning with the growing demand for clean and secure power solutions as the global ESS market expands.

Business Operations and StrategyProduct-Related Announcements
Quantum Numbers Unveils Quantum-Secure Battery Storage System
Positive
Oct 23, 2025

Quantum Numbers, in collaboration with Energy Plug Technologies and SEETEL New Energy, has announced the development of a 261-kWh Battery Energy Storage System (BESS) designed for Arctic and high-resilience environments. This system integrates advanced quantum-safe cybersecurity measures to protect against modern cyber threats, ensuring secure and reliable energy storage solutions for various applications, including defense and remote operations. The collaboration aims to set new standards in energy infrastructure by combining rugged engineering with cutting-edge security, with initial deployments planned for Asia and the Middle East in 2026.

Business Operations and StrategyProduct-Related Announcements
Quantum eMotion, Energy Plug, and Malahat Battery Form Strategic Alliance for Quantum-Secured Energy Systems
Positive
Oct 14, 2025

Quantum eMotion Corp., Energy Plug Technologies Corp., and Malahat Battery Technology Corp. have announced a strategic alliance to co-develop quantum-secured energy storage and defence systems. This collaboration aims to integrate Quantum eMotion’s cybersecurity technologies with Energy Plug and MBT’s energy systems, enhancing protection against cyber and post-quantum threats. The partnership will focus on developing secure power systems for critical infrastructure, including Arctic defence installations and utility-scale smart grids. This initiative positions the companies at the forefront of quantum-grade cybersecurity in the energy sector, setting new standards for resilience and trust in decentralized power systems.

Business Operations and StrategyProduct-Related Announcements
Krown Technologies and Quantum eMotion Unveil Qastle: A Quantum-Secured Hot Wallet
Positive
Oct 8, 2025

Krown Technologies and Quantum eMotion have announced the launch of Qastle, the world’s first quantum-secured hot wallet, set to be available globally on November 1st, 2025. This innovative wallet combines post-quantum cryptography and quantum random number generation to provide unparalleled security for digital assets, marking a significant milestone for both companies as it opens a new revenue stream and positions them as leaders in quantum-safe blockchain solutions.

Business Operations and StrategyExecutive/Board Changes
Quantum eMotion Expands U.S. Operations with New COO Appointment
Positive
Oct 6, 2025

Quantum eMotion Corp. has granted 300,000 stock options to John Young, the newly appointed Chief Operating Officer of QeM America, as part of its strategic growth in the U.S. market. This move underscores the company’s commitment to expanding its presence and enhancing its operations in the cybersecurity industry, particularly in the U.S., which could have significant implications for its stakeholders.

Business Operations and StrategyRegulatory Filings and Compliance
Quantum eMotion Advances Towards NIST Certification with Lightship Security Partnership
Positive
Oct 6, 2025

Quantum eMotion Corp. has engaged Lightship Security Inc. to conduct FIPS 140-3 validation for its Quantum Crypto Module, a significant step towards achieving NIST certification. This validation is crucial for compliance with U.S. and Canadian cybersecurity standards and is essential for deploying their technology in critical sectors such as healthcare, finance, and defense. By partnering with Lightship, a leading validation lab, Quantum eMotion aims to enhance trust and compliance in its quantum-entropy technology, potentially strengthening its position in the global cybersecurity market.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Dec 30, 2025