Tag: Arqit Quantum

Arqit Quantum Reports First Quarter Operating Loss of $14.3 Million

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Generated $12.3 million of revenue and other operating income in the first half of fiscal year 2022

LONDON (Arqit Quantum PR) — Arqit Quantum Inc. (Nasdaq: ARQQ, ARQQW) (“Arqit”), a global leader in quantum encryption technology, today announced its operational and financial results for the first half of its fiscal year ending (“FYE”) 30 September 2022.

Recent Operational Highlights

  • Signed an enterprise licence with Virgin Orbit for QuantumCloud™ to protect its launch and space solutions businesses, which we delivered on and recognised revenue in the first half of FYE 2022.
  • Signed an enterprise licence with AUCloud, Australia’s sovereign cloud infrastructure-as-a-service provider, for QuantumCloud™ to provide quantum encryption services, which we delivered on and recognised revenue in the first half of FYE 2022.
  • Delivered against milestones under a contract with the European Space Agency as part of its Advanced Research Telecommunications Systems program, and recognised project revenue in the first half of FYE 2022.
  • Demonstrated and announced significant progress in integrating QuantumCloud™ software with the security products of a major enterprise grade vendor.
  • Announced that Arqit and Blue Mesh Solutions Limited, a UK-based sensors and Internet of Things (“IoT”) specialist, successfully completed and demonstrated a quantum secure data communications service for industrial IoT. The demonstration was associated with the UK Government’s Department for Digital, Culture, Media and Sport (“DCMS”) 5G Trials and Testbeds programme. Arqit previously announced it is also working with DCMS on a program to secure a new wideband solution for 5G cellular Open RAN platforms.
  • Signed a Cooperative Research and Development Agreement with the US Air Force’s Research Laboratory to prove viable quantum encryption services from a commercial platform to US Department of Defense infrastructure for the US Air Force and wider Department of Defense use cases.
  • QuantumCloud™ release 1.1 launched in the first half of FYE 2022. The advancement of QuantumCloud™ makes Arqit’s symmetric key encryption agreement service more easily accessible to customers.
  • An additional 145 patent claims on 5 patents were filed in the first half of FYE 2022, bringing Arqit’s total to 1,580 patent claims on 26 patents filed or granted in the UK. Innovations continue in all elements of Arqit’s tech stack with the objectives of simplifying the tech stack, further enhancing security and reducing cost.
  • Made significant senior sales organisation hires in the US, Asia Pacific and Europe, expanding geographic footprint and enhancing industry relationships.
  • Commissioned a report which has been summarised publicly that confirmed the results of an academic review of Arqit’s security proof conducted by the University of Surrey, which is recognised as an Academic Centre for Excellence in Cyber Security Research by the UK Government’s National Cyber Security Centre. The report confirms that Arqit’s symmetric key agreement technology generates encryption keys which are zero trust and computationally secure and describes it as “a significant advance in secure communications”.
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Virgin Orbit Suffers Net Loss of $157.3 Million in 2021

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LauncherOne ignites after being dropped from Cosmic Girl. (Credit: Virgin Orbit)
  • Successfully launched 7 customer satellites onboard its LauncherOne rocket during the Above the Clouds mission on January 13, 2022, the company’s third successful launch.
  • Full year 2021 revenue increased to $7.4 million, up from $3.8 million in the prior year period.
  • Growing backlog of contracts, including selection by NASA’s launch service program to support the agency’s VADR missions.
  • Completed its going public transaction and began trading on the Nasdaq stock exchange on December 30, 2021.

LONG BEACH, Calif. (Virgin Orbit PR) — Virgin Orbit (Nasdaq: VORB) (“Virgin Orbit” or the “Company”), the responsive launch and space solutions company, today announced its financial results for the fourth quarter and full year ended December 31, 2021.

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Virgin Orbit and Arqit Expand Launch Agreements Ahead of Merger Vote

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Virgin Orbit and Arqit Quantum announce an extension to their collaboration that will accelerate space-based encryption services to private, defense, and intelligence customers globally.

  • Arqit has contracted exclusively with Virgin Orbit for Arqit’s launch needs for up to 5 launches from Spaceport Cornwall beginning in 2023.
  • Virgin Orbit has acquired a quantum cloud encryption license from Arqit to provide encryption protection for its launch and space solutions businesses.
  • The two companies have previously announced a $5 million investment from Virgin Orbit into Arqit’s SPAC.

LONG BEACH, Calif. (Virgin Orbit PR) — Virgin Orbit, the responsive launch and space solutions company that has announced a planned business combination with NextGen Acquisition Corp. II (“NextGen”) (NASDAQ: NGCA), has signed a new launch contract covering two dedicated launches for Arqit Quantum, Inc. (NASDAQ: ARQQ), a global leader in quantum encryption technology, plus additional commitments. The two Arqit satellites delivered to Earth orbit by Virgin Orbit’s LauncherOne air-launched system will be the core component of Arqit’s Platform-as-a-Service, delivering the root source of randomness to all Arqit data centres using Arqit’s ground breaking Quantum protocol ARQ19.

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Virgin Orbit Invests in Hypersat

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PARIS, 15 DECEMBER 2021 (Virgin Orbit PR) – Virgin Orbit, the responsive launch and space solutions company that has announced a planned business combination with NextGen Acquisition Corp. II (“NextGen”) (NASDAQ: NGCA), announced today an agreement to acquire a 17.5% stake in geospatial analytics company Hypersat LLC (“Hypersat”).

This investment will further expand Virgin Orbit’s space solutions business by providing highly accurate electro-optic and hyperspectral imagery capabilities, which can provide vital information to customers in the agriculture, defense, energy, insurance, and minerals industries, among others. The investment by Virgin Orbit is part of the company’s strategy to leverage the relationships with its satellite launch customers and space solutions end users. As part of that strategy, Virgin Orbit has previously announced investments in ArQit Quantum, SatRevolution, and Sky and Space Global.

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Seraphim Completes Investment in Arqit Quantum

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LONDON (Seraphim Space PR) — Further to its announcement on 7 September 2021, Seraphim Space Investment Trust plc (LSE: SSIT), the world’s first listed fund focused on Space Tech, is pleased to announce the acquisition of the holding of Arqit Quantum Inc. (“Arqit”) from the Seraphim Space LP ( ” Seraphim Space Fund “) .

As set out in the IPO prospectus, Seraphim Space will acquire four assets from the Seraphim Space Fund for newly issued ordinary shares in the Company. This acquisition represents the second of those transactions to complete.

Arqit is a leader in quantum encryption technology designed to eliminate the threat of cyber-attack and data theft. The business has a unique quantum encryption Platform-as-a-Service which makes the communications links of any networked device secure against current and future forms of attack – even from a quantum computer.  On 7 September, Arqit completed its proposed merger with Centricus Acquisition Corp. The combined company has been renamed Arqit Quantum Inc. and its shares have commenced trading on NASDAQ under the new ticker symbol “ARQQ” for Arqit common stock.

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