HOBOKEN, N.J. - Quantum (NASDAQ:QMCO) Computing Inc. (NASDAQ:QUBT), a company specializing in quantum optics and nanophononics technology, announced today the appointment of Dr. Javad Shabani to its Board of Directors. Dr. Shabani, an Associate Professor of Physics at New York University, brings to the board his extensive expertise in quantum computing technologies.
With a notable academic background, including over 85 published papers and numerous speaking engagements, Dr. Shabani is recognized for his research in quantum materials and condensed matter physics. His role on the board is expected to bolster Quantum Computing Inc.'s efforts in both technological advancement and product commercialization.
Dr. William McGann, CEO of Quantum Computing Inc., expressed enthusiasm for Dr. Shabani's alignment with the company's mission to deliver accessible and affordable quantum machines. Dr. Shabani's knowledge in quantum qubit architectures and nanofabrication is anticipated to enhance the development of the company's nanophotonic chips.
Dr. Shabani also shared his eagerness to contribute to the company's strategy and support the introduction of new quantum systems, which could impact computing, machine learning, and remote sensing applications.
Quantum Computing Inc. aims to provide quantum machines that are operational at room temperature and low power, making them cost-effective for a variety of uses, including high-performance computing, artificial intelligence, cybersecurity, and remote sensing.
This appointment is based on a press release statement and reflects Quantum Computing Inc.
InvestingPro Insights
As Quantum Computing Inc. (NASDAQ:QUBT) welcomes Dr. Javad Shabani to its Board of Directors, investors may be interested in the company's financial health and market performance. According to InvestingPro, analysts are expecting sales growth for Quantum Computing Inc. in the current year, which could signal optimism for the company's future revenue streams. This aligns with the company's strategic efforts to advance in quantum computing technologies and commercialize their products.
However, it's important to note that Quantum Computing Inc. is facing some financial challenges. The company is quickly burning through cash, and its short term obligations exceed its liquid assets. Additionally, analysts do not anticipate the company will be profitable this year, which is reflected in the negative P/E ratio of -2.36 for the last twelve months as of Q4 2023. The company's market cap stands at 70.12M USD, with a significant revenue growth of 163.95% over the last twelve months, yet it remains a niche player in the quantum computing industry.
Investors should be aware that Quantum Computing Inc. has not been profitable over the last twelve months and is trading at a high revenue valuation multiple. The stock has performed poorly over the last month, with a 23.25% decline in price total return. These financial metrics suggest that while the company has potential for growth, there are considerable risks involved.
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