Quantum Computing (QUBT) Revenue — Quarter Ended Mar 31, 2024
Revenue declined sharply in the current quarter compared to both the prior quarter and the same quarter last year. The sequential drop was significant, and the year-over-year decrease was even more pronounced.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue declined sharply in the current quarter compared to both the prior quarter and the same quarter last year. The sequential drop was significant, and the year-over-year decrease was even more pronounced.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$27K
Revenue reported for this quarter.
Quarter-over-quarter
-64.0%
Change from the immediately preceding quarter.
Year-over-year
-77.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$264K
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2023 | $112K | +71.0% |
| Sep 30, 2023 | $50K | +32.8% |
| Dec 31, 2023 | $75K | +5768.5% |
| Mar 31, 2024 | $27K | -77.7% |
Revenue performance
The reported revenue for the quarter was lower than the preceding quarter, continuing a downward trend from the prior period. The year-over-year comparison also showed a substantial decline.
Quarterly comparison
Compared to the immediately preceding quarter, revenue decreased sharply. When measured against the same quarter one year earlier, the decline was even steeper.
What to watch
The company's ability to secure additional financing remains a key factor given its ongoing losses and cash needs.