QUBT Q4 2024: Offshore photonic deals & Q2 foundry test-chip debut
Reported on Jun 17, 2025 (After Market Close)
Pre-Earnings Price$7.39Last close (Mar 20, 2025)
Post-Earnings Price$6.51Open (Mar 21, 2025)
Price Change
$-0.88(-11.91%)
- Diversified Market Traction: QUBT is successfully capturing domestic orders for its quantum machines while also securing international orders for its photonic chips in Europe and Asia, broadening its revenue base.
- Promising Foundry Business Ramp-Up: The company is set to initiate chip production in early Q2, with active partnerships and process design kits in place to support a scalable production ramp, indicating strong growth potential in its foundry segment.
- Domestic revenue concentration: The Q&A highlighted that while there are some international orders for photonic chips, the Dirac-3 quantum machines are largely targeted for the domestic market, leaving the company potentially exposed if U.S. demand weakens.
- Foundry ramp-up risks: The discussion on the foundry business indicated that the startup phase—especially finalizing process design kits (PDKs)—may delay full-scale operations and impact early revenue performance.
- Uncertain pipeline conversion: There are orders in the pipeline, particularly for offshore markets, that have not yet been converted into confirmed sales, which could pose a risk to achieving anticipated growth.
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International Focus
Q: Domestic or global orders focus?
A: Management emphasized that while orders for the Dirac machine remain largely domestic, the photonic chip segment has already secured offshore orders in both Europe and Asia, indicating a diversified global opportunity. -
Foundry Ramp-up
Q: How fast will foundry ramp up?
A: Management explained that the new foundry will begin delivering test chips in Q2, with an expected start-up period before achieving full operational efficiency as they finalize their process design kits.