Quantum Computing Inc sells advanced LiDAR to Johns Hopkins

HOBOKEN, N.J. - Quantum (NASDAQ:QMCO) Computing Inc (Nasdaq: QUBT), a leader in quantum optics and nanophononics technology, announced the sale of its sophisticated quantum LiDAR prototype to Johns Hopkins University. The prototype, which is valued at $200,000, represents a significant step forward in underwater LiDAR technology and will be used for testing and evaluation by Johns Hopkins' research and development program.

The company's quantum LiDAR system features extraordinary precision, with a resolution of 3mm and the ability to function up to 30 meters underwater. Its unique "tune" and time-gate capabilities for single photons in the LiDAR return signals, together with the adjustment in detection across frequency and phase space, allow for quantum measurements that enhance data collection.

Jeevanandha Ramanathan, Research Scientist at QCi, highlighted the system's state-of-the-art single-photon detection technology and the strategic use of a 532nm green laser for its water penetration capabilities, which results in highly detailed and accurate underwater imagery.

Dr. William McGann, CEO of QCi, expressed excitement over the partnership with Johns Hopkins researchers. He emphasized that the collaboration will contribute to a better understanding of marine phenomena such as phytoplankton movement, nutrient distribution, and the physical properties of water, ultimately aiding environmental management and protection efforts.

Quantum Computing Inc. is known for providing accessible and affordable quantum machines, designed to operate at room temperature and low power, with applications in high-performance computing, artificial intelligence, cybersecurity, and remote sensing.

The information for this article is based on a press release statement from Quantum Computing Inc.

Quantum Computing Inc (Nasdaq: QUBT) has made a splash with its recent sale of a quantum LiDAR prototype to Johns Hopkins University, signaling potential growth in its niche segment of the quantum technology industry. The financial health of the company, however, presents a more nuanced picture. According to InvestingPro, analysts are not expecting the company to be profitable this year, reflecting a challenging road ahead despite the promising technological advancements.

InvestingPro Data shows a significant revenue growth of 163.95% over the last twelve months as of Q4 2023, which could be indicative of the company's growing market presence. However, with a market capitalization of $64.16M and a negative P/E ratio of -1.83, investors may be cautious, as these figures suggest that the company is not yet turning a profit. Furthermore, the stock has experienced a notable decline, with a 1-month price total return of -34.36%, indicating recent volatility in investor confidence.

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Two InvestingPro Tips that stand out for those considering an investment in Quantum Computing Inc are the company's rapid cash burn and its short-term obligations surpassing its liquid assets. These factors suggest that the company may face liquidity challenges in the near term. For investors and potential shareholders, these insights could be crucial in evaluating the risks associated with the stock.

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