Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
Please consider a small donation if you think this website provides you with relevant information
| Statement |
|---|
| And these are remarkable the good numbers considering when started the years |
| And then also the quantum as a service and, and you've made some really great progress |
| Overall we are very pleased with the reaction we are getting for QPU, optimized QPU specifically |
| That's what enables the explosive growth opportunity |
| We are proud of that accomplishment |
| We will definitely benefit when they invest in superconducting regarding the QPU sales |
| Certainly exciting potential to keep moving safe in the near term |
| Also, there are other competitive modalities as you know, certainly we believe superconducting modality has the huge advantage of scalability |
| By providing hands on access to our QPUs, we believe that we are enabling greater progress towards narrow quantum advantage and quantum technology breakthroughs |
| We continue to make good progress with fidelity on our fourth-generation systems |
| We have achieved higher than 98% median 2-qubit fidelity with our 9-qubit system, 98% median 2-qubit feet a day with our 24-qubit system and higher than 97% median 2-qubit fidelity with our Ankaa-2 84 qubit system |
| I'm pleased to report that we continue to grow our QPU systems sales |
| We are super excited about it |
| And nice job on the quarter |
| As we have said, they are about two to three years from demonstrating narrow quantum advantage, which means performance and or cost benefits compared to classical computing on many practical applications |
| And that's why they are I believe they are finding value and will continue to generate sales |
| So, we certainly are significantly higher than other competitive modalities are very and we have the benefit of scaling up |
| So, our error rates have essentially been slashed by a factor of two, which is a huge accomplishment |
| On the technology front, we are continuing to work to improve the system performance of our fourth-generation chip architecture, which features a square lattice and tunable couplers to support our anticipated Ankaa-2 84 qubit system |
| Net loss for the third quarter of ‘22 was favorably impacted by the non-cash change in the fair value of the earnout and derivative warrant liabilities of $4.9 million and $8.1 million respectively |
| Just a huge milestone for the company |
| But it's exciting |
| I'm pleased to report that we were recently awarded a DARPA IMPAQT contract to advance quantum algorithms for solving combinatorial optimization problems |
| Together the consortium aims to enhance existing money laundering techniques by using quantum machine learning techniques, with the goal of improving the performance of current state of the art machine learning algorithms |
| Thereafter, we intend to develop the 336-qubit Lyra system and to demonstrate and NQA, Narrow Quantum Advantage in two to three years |
| As we approach that quantum advantage in the next two to three years, we definitely expect commercial interest to so -- and that's where the potential explosive growth opportunity comes in, in two or three years from now |
| Gross margins in the third quarter of 2023 came in at 73% up from gross margins in the third quarter of 2022 of 72% |
| Having said that, in the meantime, we have latched on to this QPU sales opportunities for researchers who want to get their hands on and do experiments themselves |
| Our focus is clearly on developing technology, getting us as fast as possible to narrow quantum advantage, and then go for the explosive growth opportunities that come after that |
| Having said that, all of us are still significantly off the quantum advantage area |
| Statement |
|---|
| Operating loss for the third quarter of 2023 was $16.8 million, compared to an operating loss of $31.3 million for the same period of 2022 |
| Net loss for the third quarter of 2023 was negatively impacted by the non-cash change in the fair value of the earnout and derivative warrant liabilities of $1.7 million and $3.4 million respectively |
| Net loss for the third quarter of 2023 was $22.2 million or $0.17 per share, compared to a net loss of $18.8 million or $0.16 per share for the same period of 2022 |
| But just I guess if you could talk maybe about the inbound activity and anything you're seeing there that gives you optimism of additional sales in future |
Please consider a small donation if you think this website provides you with relevant information