Arqit Quantum Inc. announced its financial and operational results for the fiscal year ended September 30, 2024, reporting $293,000 in revenue for the full fiscal year. The company also disclosed an operating loss of $23.9 million for the same period.
Despite the modest revenue, Arqit highlighted significant operational progress, including signing a seven-figure multi-year SKA-Platform™ enterprise license contract and commencing fiscal year 2025 with an annual recurring revenue backlog. The company's cash position stood at $18.7 million at the end of the period.
Management noted increased market awareness of the need for enhanced encryption, with Gartner naming post-quantum cryptography a strategic imperative for 2025 and IDC recognizing Arqit as a leading vendor. The company also won the CTO Outstanding Technology Award at Mobile World Congress 2024 and the Cyber Defense Product of the Year award at the 2024 National Cyber Awards.
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