01 Quantum (ONE) Q4 2024 earnings summary

Executive summary

• Achieved operational breakeven in 2024, expending just over CAD 130,000 in cash flow for the year and maintaining a debt-free position.

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

• Completed a strategic equity financing two weeks prior to the call, providing resources to accelerate key milestones.

• Focused on commercializing PQC-compliant quantum-safe technologies, with expertise in encryption, cybersecurity, and end-user product development.

• Positioned to capitalize on the growing urgency for quantum-safe solutions as industry awareness increases.

Financial highlights

• Reliable recurring revenue continues from legacy products, though slightly impacted by unfavorable exchange rates.

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

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

• R&D expenses fully expensed, supporting innovation without incurring debt.

• Revenue from quantum-safe products expected to commence in the second half of 2024 or sooner, with potential for explosive growth.

Outlook and guidance

• 2025 anticipated as a pivotal year, with major product milestones and revenue acceleration expected.

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

• Focus shifting from legacy to quantum-safe revenue streams, leveraging patent-protected technology and mass market-ready products.

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

• Confident that current financial resources are sufficient to support planned developments and expansion.