Arqit Quantum Inc. Announces Financial and Operational Results for the First Half of Fiscal Year 2024
QMCOQuantum(QMCO) globenewswire.com·2024-05-20 19:00

119,000ofrevenueforthesixmonthperiodended31March2024withcertainprospectivedealsslippingtothesecondhalfofthefiscalyearRenewalorcontractextensionwithnineexistingcustomers,representingrevenuefromsmallengagementswithpotentialforlargerrevenueopportunitiesinthefutureRecentsignificantawardnotificationAdditionalcostreductioninitiativecommenced,whichisexpectedtoreduceoperatingcoststo119,000 of revenue for the six month period ended 31 March 2024 with certain prospective deals slipping to the second half of the fiscal year Renewal or contract extension with nine existing customers, representing revenue from small engagements with potential for larger revenue opportunities in the future Recent significant award notification Additional cost reduction initiative commenced, which is expected to reduce operating costs to 1.8 million per month Cash position of $21.3 million at the end of th ...