01 Quantum (ONE) Q4 2024 earnings summary

Executive summary

• Fiscal 2024 marked a transformative year with key development projects completed and strategic financing secured, setting a strong foundation for 2025.

• Focus remains on commercializing PQC-compliant quantum-safe technologies, with expectations of revenue growth from these products in 2025.

• IronCAP™ technology has been rigorously tested and is positioned to address quantum computing threats, with commercialization targeted through partnerships.

Financial highlights

• Q4 revenue was $82,155, down from $133,709 in Q4 2023, reflecting a $51,554 decrease year-over-year.

• Net loss for Q4 was $97,698, improved from $167,660 in Q4 2023; adjusted loss (excluding non-cash items) was $63,306, down from $125,457.

• Cash operating expenses for Q4 were $119,335, a reduction of $54,060 year-over-year.

• Exited fiscal 2024 with $137,126 in cash; post year-end financing added $920,000, bringing available funds to $1,060,000.

• Fiscal year revenue was $412,948, down from $474,491 in 2023; annual net loss was $318,790, improved from $722,112 in 2023.

Outlook and guidance

• Commercialization of PQC-compliant Solana L1 blockchain and AI platform expected in 2025, with demonstration of the AI product planned before fiscal year-end.

• Increased sales, marketing, and product development spending anticipated in 2025 to support new product launches.

• Management expects corporations and governments to begin preparing for quantum threats in 2025, driving demand for IronCAP™ solutions.