01 Quantum (ONE) Q4 2024 earnings summary

Executive summary

• Achieved operational breakeven in 2024, expending just over CAD 130,000 in cash flow for the year and maintaining a debt-free position.

• Fiscal 2024 marked a transformative year with key development projects completed and strategic financing secured, setting a strong foundation for 2025.

• Focused on commercializing PQC-compliant quantum-safe technologies, with expertise in encryption and end-user product development.

• IronCAP™ technology has been rigorously tested and is positioned to address quantum computing threats, with commercialization targeted through partnerships.

• Positioned to capitalize on the growing urgency for quantum-safe solutions as industry awareness increases.

Financial highlights

• Reliable recurring revenue continues from legacy products, though slightly impacted by unfavorable exchange rates.

• Q4 revenue was $82,155, down from $133,709 in Q4 2023, with fiscal year revenue at $412,948, down from $474,491 in 2023.

• Net loss for Q4 was $97,698, improved from $167,660 in Q4 2023; annual net loss was $318,790, improved from $722,112 in 2023.

• R&D expenses fully expensed, supporting innovation without incurring debt.

• Revenue from quantum-safe products expected to commence in the second half of 2025, with potential for explosive growth.

Outlook and guidance

• 2025 anticipated as a pivotal year, with major product milestones and revenue acceleration expected.

• Commercialization of PQC-compliant Solana L1 blockchain and AI platform expected in 2025, with demonstration of the AI product planned before fiscal year-end.

• Increased sales, marketing, and product development spending anticipated in 2025 to support new product launches.

• Management expects corporations and governments to begin preparing for quantum threats in 2025, driving demand for IronCAP™ solutions.

• Mass market readiness for quantum-safe email, cryptocurrency, AI, and mobile messaging solutions.