Quantum computing has been one of the fastest-emerging technologies in the past few years (second only to artificial intelligence). Quantum computing technology has been around for several years, but recent developments -- such as increased computing power and breakthroughs in error corrections -- have sparked renewed interest from investors and governments looking to stay ahead of the curve with this technology.
One of the biggest beneficiaries of these new developments has been the appropriately named Quantum Computing (QUBT +7.30%), also referred to as QCI. Over the past 12 months (ending Nov. 18), the stock's price has jumped 286%, so a $500 investment made a year ago would be worth $1,920 now.
Not too shabby.
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QCI focuses on making quantum computing easier to manage for its clients with the help of software, hardware, and end-to-end solutions. Unlike some of its competitors that focus most of their energy on research and development, QCI already has ready-to-use commercial products and research-and-development offerings.
NASDAQ: QUBT
Key Data Points
The company's financials don't jump off the page, but QCI has been making noticeable improvements. In the third quarter, its revenue increased 280% year over year to $384,000, with 33% gross margin (up from 9% last year).
One of the more notable achievements was QCI achieving its first U.S. commercial sale for its quantum cybersecurity solutions through an order from a top-five U.S. bank. That's a positive sign of the company gaining traction and real-world use.
