Quantum Computing outlines strong growth strategy and significant capital raised to enhance manufacturing and engineering capabilities for broader market adoption

OPERATOR - (00:00:00)

And a clear, disciplined strategy for scaling our technology. To date in 2025 we have raised over 1.5 billion in capital and we now have the resources to execute thoughtfully on our long term vision, putting quantum technology into the hands of people. In the third quarter we raised 500 million and subsequent to the quarter, we raised another 750 million dollars. This research put us in a very strong position to drive our roadmap forward and make strategic investments in engineering, manufacturing and sales. As many of you know, QSAT's mission has always been centered around building quantum systems that are practical, scalable and accessible. We're not just developing quantum technologies for laboratories. We are working to make quantum usable for a broader community of industries and innovators with the ultimate goal of having our technology as ingrained in society as cell phones. This is what sets QSI apart. While many quantum players remain focused on theoretical advances or systems that require complex cryogenic environments, our integrated photonic approach enables room temperature operation, compact form factors and energy efficient performance. These advantages not only reduce the cost and complexity of deployment, but also make it possible to scale quantum solutions to a wide range of real world settings from aerospace and defense to telecommunications, finance and data security. As the technology matures, we believe the key differentiator will not be who can build the most powerful quantum prototype in isolation, but who can scale quantum reliably and affordably. The challenge ahead is one of engineering and manufacturing execution and that's where QSI focus lies. Today our long term goal is to move from prototype and a small batch manufacturing towards volume production and we see that transition take shape by the end of this decade. Together, our current three year roadmap is focused on refining our processes, scaling small batch production and expanding our team and facility to position QCI for industrial scale output. In other words, the technology is there. Our quantum machines and photonic chips have been validated across multiple use cases. The next step is to scale the engineering and manufacturing behind them and we now have the team resources facility and plan to make that happen. Let me take a moment to highlight some of the key updates from the third quarter. First, on the commercial front, we continue to see growing adoption of our quantum and photonic solutions across research, enterprise and government sectors. During the quarter we recorded revenue from our ongoing NASA LIDAR initiative which uses our direct 3 quantum optimization machine to remove solar noise from space based LIDAR data. This project represents a significant technical achievement and underscores the real World value of QSI's quantum computing technology for scientific and environmental applications as well as our initiatives to drive strong relationships within government programs. We also saw meaningful momentum in our commercial engagements following the sale of our IMUC reservoir computing device earlier this year to to a global automotive manufacturer. In the third quarter, we completed a transaction with a major US Financial institute, marking another important milestone in validating our quantum AI and security platforms in real-world settings. Our foundry operations in Tempe, Arizona also continue to progress. As we have shared previously. This facility, also known as Fab One, is a small scale manufacturing site designed to qualify processes and support early customer programs in thin-film lithium photonic chips. This is an important first step in our broader manufacturing strategy. Since launch, our team has been refining the.