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(QUBT) posted second-quarter revenue of $5.6 million, a gain of more than 9,000% from the $61,000 it reported a year earlier, according to an earnings release filed with the SEC.
Shares traded near $9 on Friday, part of a session that pushed six other quantum computing stocks higher at the same time, according to a Seeking Alpha report.
The revenue came from photonics product sales to government, educational, and commercial customers, the company said. Quarter over quarter, revenue grew 51% from the $3.7 million QCi reported in the first quarter.
Most of the improvement in the company's bottom line traced to a smaller paper loss on warrant derivatives, the filing shows, rather than to the core business turning a profit.
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