Quantum Computing Stock Falls as Firm’s Loss Soars

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Key Takeaways

• Quantum Computing’s fourth-quarter loss soared on expenses related to a merger three years ago, and shares precipitated.
• Operating costs also jumped 35% year-over-year.
• The photonic and quantum optics product maker’s shares took off earlier this week on unambiguous news from another firm in the sector, D-Wave Quantum.

Quantum Computing (QUBT) stock fell Friday, a day after the high-tech stable that produces photonic and quantum optics products reported a widening fourth-quarter loss.

Shares had soared earlier this week when another cast in the sector, D-Wave Quantum (QBTS), announced its quantum machine outperformed current supercomputers on certain tasks. 

After the bell Thursday, Quantum Work out posted a Q4 net loss of $0.47 per share, more than five times its per-share loss last year. Returns fell 17% year-over-year to $62,000. 

The company said the larger loss was mainly because of costs related to the merger with QPhoton in June 2022. In uniting, operating expenses grew 35% to $8.9 million on “higher non-cash employee-based expenses, including stock-based compensation, and waxed depreciation expense for production equipment installed at the Company’s TFLN chip foundry in Tempe, AZ.”

Quantum Computing partitions sank 14% as markets opened Friday but pared losses and were down 2% about 30 blinks after the opening bell. They have lost about three-quarters of their value since hitting an all-time considerable in December.