Type of product/service

Nature and timing of satisfaction of performance obligations

Revenue recognition policies

QuantumCloud perpetual license

Customer can benefit from the license when it is delivered. The license is separately identifiable from other goods or services.

License provides a right for customer to use the Company’s Intellectual Property.

Revenue is recognised when the license is delivered to and accepted by the customer.

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Maintenance and support

Services are provided to the customer over the contract term.

Revenue is recognized over time as the services are provided.

Professional services

Statements of work including details and timings are agreed with the customer at contract inception. They can typically be amended during the performance of the services if agreed by both parties.

Revenue is recognised over time as the services are provided. The stage of completion for determining the amount of revenue to recognise is assessed based on statements of work performed which are approved by both parties.