Quantum Computing shares waver after wider Q4 loss, rev decline

Quantum Computing Inc's QUBT.O shares edge up 0.3% to $7.40 on Fri after co's Q4 loss widened and rev decreased

QUBT shares traded as low as $6.33 and as high as $7.57 on the session

Hoboken, New Jersey-based photonics and quantum optics tech provider posted loss of $52.1 mln compared to loss of $6.8 mln a year ago, and rev declined 17% to $62,000

Operating expenses in qtr increased to $8.9 mln from $6.6 mln from comp period last year, primarily due to higher employee compensation and increased cost for production equipment at its chip foundry in Tempe, Arizona

CEO William McGann said co on track to launch its photonic chip foundry in early 2025, adding it has multiple purchase orders secured

In Dec, co sold $50 mln of shares at $5 in combined direct offering and private placement to advance its technologies and help build out the Arizona foundry

QUBT shares up about 10-fold over the past six months, but well off their 52-week intraday high of $27.15 hit on Dec 18