Arqit Quantum Files 20-F, Details Assets and Key Personnel

TL;DR

Arqit Quantum's 20-F is in! Shows assets, development spend, and lists key execs/investors like Notion Capital.

AI Summary

Arqit Quantum Inc. filed its 20-F for the fiscal year ending September 30, 2024. The filing details various assets including office equipment, fixtures, and computer equipment, as well as capitalized development expenditure. It also lists key personnel and entities associated with the company, such as Stephen Chandler, Andy Leaver, Rob Soffel, Lt. General V.L. Jamieson, and General S. Wilson, and mentions Notion Capital and Arqit Pte.

Why It Matters

This filing provides investors with a comprehensive overview of Arqit Quantum's financial position and operational structure for the past fiscal year, including its assets and key stakeholders.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the nature of quantum technology and its commercialization presents inherent risks.

Key Numbers

• 2024-09-30 — Fiscal Year End (Reporting period for the 20-F filing.)
• 2023-10-01 — Fiscal Year Start (Reporting period for the 20-F filing.)

Key Players & Entities

• Arqit Quantum Inc. (company) — Filer
• Stephen Chandler (person) — Associated with Notion Capital
• Andy Leaver (person) — Associated with Notion Capital
• Rob Soffel (person) — Associated with Notion Capital
• Lt. General V.L. Jamieson (person) — Associated with the company
• General S. Wilson (person) — Associated with the company
• Notion Capital (company) — Associated with key personnel
• Arqit Pte (company) — Associated with the company

FAQ

Key Financial Figures

• $0.0025 — 11,545,354 Ordinary Shares, par value $0.0025 per share, as of September 30, 2024 I
• $287.50 — ordinary shares at an exercise price of $287.50 per share which became exercisable on F
• $11.50 — ordinary shares at an exercise price of $11.50 per share. " Cayman Companies Act " me
• $50.00 — ordinary shares at an exercise price of $50.00 per share, which became exercisable on
• $2.00 — ordinary shares at an exercise price of $2.00 per share. " February 2023 Placement A
• $62.50 — ordinary shares at an exercise price of $62.50 per share, which became exercisable on
• $2.50 — ordinary shares at an exercise price of $2.50 per share. " Gartner " means Gartner,
• $19.50 — ordinary shares at an exercise price of $19.50 per share, which became exercisable on
• $0.78 — ordinary shares at an exercise price of $0.78 per share. " September 2023 Placement
• $24.37 — ordinary shares at an exercise price of $24.37 per share, which became exercisable on
• $0.975 — ordinary shares at an exercise price of $0.975 per share. " September 2024 Investor W
• $5.00 — the Nasdaq Capital Market has exceeded $5.00 for 60 consecutive trading days. " U.S
• $294 billion — r information security services will be $294 billion by the end of 2028; that new opportuni
• $63.8 m — 24, Arqit generated operating losses of $63.8 million, $54.5 million and $24.7 million
• $54.5 million — ated operating losses of $63.8 million, $54.5 million and $24.7 million respectively. Arqit i

Filing Documents

• arqq-20240930x20f.htm (20-F) — 3457KB
• arqq-20240930xex1d1.htm (EX-1.1) — 379KB
• arqq-20240930xex2d1.htm (EX-2.1) — 6KB
• arqq-20240930xex2d10.htm (EX-2.10) — 207KB
• arqq-20240930xex4d2.htm (EX-4.2) — 194KB
• arqq-20240930xex8d1.htm (EX-8.1) — 10KB
• arqq-20240930xex12d1.htm (EX-12.1) — 14KB
• arqq-20240930xex12d2.htm (EX-12.2) — 14KB
• arqq-20240930xex13d1.htm (EX-13.1) — 7KB
• arqq-20240930xex13d2.htm (EX-13.2) — 6KB
• arqq-20240930xex15d1.htm (EX-15.1) — 6KB
• arqq-20240930xex19d1.htm (EX-19.1) — 57KB
• arqq-20240930x20f001.jpg (GRAPHIC) — 93KB
• arqq-20240930xex15d1001.jpg (GRAPHIC) — 1KB
• arqq-20240930xex1d1001.jpg (GRAPHIC) — 11KB
• arqq-20240930xex1d1002.jpg (GRAPHIC) — 2KB
• arqq-20240930xex1d1004.jpg (GRAPHIC) — 2KB
• 0001558370-24-016028.txt ( ) — 15790KB
• arqq-20240930.xsd (EX-101.SCH) — 100KB
• arqq-20240930_cal.xml (EX-101.CAL) — 82KB
• arqq-20240930_def.xml (EX-101.DEF) — 283KB
• arqq-20240930_lab.xml (EX-101.LAB) — 702KB
• arqq-20240930_pre.xml (EX-101.PRE) — 550KB
• arqq-20240930x20f_htm.xml (XML) — 3467KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No Table of Contents Page PART I Item 1. Identity of Directors, Senior Management and Advisers 8 Item 2. Offer Statistics and Expected Timetable 8 Item 3. Key Information 8 3.A. Reserved 8 3.B. Capitalization and Indebtedness 8 3.C. Reasons for the Offer and Use of Proceeds 8 3.D.

Risk Factors

Risk Factors 8 Item 4. Information on the Company 21 4.A. History and Development of the Company 21 4.B. Business Overview 22 4.C. Organizational Structure 31 4.D. Property, Plant and Equipment 31 4.E. Unresolved Staff Comments 31 Item 5. Operating and Financial Review and Prospects 31 5.A. Operating Results 31 5.B. Liquidity and Capital Resources 41 5.C. Research and Development, Patents and Licenses, Etc. 43 5.D. Trend Information 43 Item 6. Directors, Senior Management and Employees 44 6.A. Directors and Senior Management 44 6.B. Compensation 46 6.C. Board Practices 47 6.D. Employees 49 6.E. Share Ownership 50 6.F Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation 50 Item 7. Major Shareholders and Related Party Transactions 50 7.A. Major Shareholders 50 7.B. Related Party Transactions 51 7.C. Interests of Experts and Counsel 52 Item 8. Financial Information 52 8.A. Combined Statements and Other Financial Information 52 8.B. Significant Changes 53 Item 9. The Offer and Listing 53 9.A. Offer and Listing Details 53 9.B. Plan of Distribution 53 9.C. Markets 53 9.D. Selling Shareholders 54 9.E.

Dilution

Dilution 54 9.F. Expenses of the Issue 54 Item 10. Additional Information 54 10.A. Share Capital 54 10.B. Memorandum and Articles of Association 54 10.C. Material Contracts 64 10.D. Exchange Controls 64 10.E. Taxation 64 10.F. Dividends and Paying Agents 71 10.G. 71 10.H. Documents on Display 72 10.I. Subsidiary Information 72 Item 11.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 72 Item 12.

Description of Securities Other Than Equity Securities

Description of Securities Other Than Equity Securities 72 12.A. Debt Securities 72 12.B. Warrants and Rights 72 12.C. Other Securities 72 12.D. American Depositary Shares 72 Table of Contents PART II Item 13. Defaults, Dividend Arrearages and Delinquencies 73 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 73 Item 15.

Controls and Procedures

Controls and Procedures 73 Item 16. [Reserved] 74 16.A. Audit Committee and Financial Expert 74 16.B. Code of Ethics 74 16.C. Principal Accountant Fees and Services 74 16.D. Exemptions from the Listing Standards for Audit Committees 74 16.E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 74 16.F. Change in Registrant's Certifying Accountant 74 16.G. Corporate Governance 74 16.H. Mine Safety Disclosure 75 16.I Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 75 16.J Insider trading policies 75 16.K Cybersecurity 75 Item 17.

Financial Statements

Financial Statements 76 Item 18.

Financial Statements

Financial Statements 76 Item 19. Exhibits 76 Index to Financial Statements F-1 Table of Contents INDUSTRY AND MARKET DATA In this Annual Report, we present industry data, information and statistics regarding the markets in which the Company competes as well as publicly available information, industry and general publications and research and studies conducted by third parties. This information is supplemented where necessary with the Company's own internal estimates and information obtained from discussions with its customers, taking into account publicly available information about other industry participants and the Company's management's judgment where information is not publicly available. Industry publications, research, studies and forecasts generally state that the information they contain has been obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not guaranteed. Forecasts and other forward-looking information obtained from these sources are subject to the same qualifications and uncertainties as the other forward-looking statements in this Annual Report. These forecasts and forward-looking information are subject to uncertainty and risk due to a variety of factors, including those described under " Risk Factors ." These and other factors could cause results to differ materially from those expressed in any forecasts or estimates. 1 Table of Contents FREQUENTLY USED TERMS Unless otherwise stated or unless the context otherwise requires, the terms "the Company," "the registrant," "our company," "the company," "we," "us," "our," "ours," and "Arqit" refer to Arqit Quantum Inc. In this Annual Report, unless the context otherwise requires: " Arqit " or " Company " means Arqit Quantum Inc., a Cayman Islands exempted limited liability company with registered number 374857 and whose registered office is at Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1-1104

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not Applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not Applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION 3.A. [Reserved] 3.B. CAPITALIZATION AND INDEBTEDNESS Not Applicable. 3.C. REASONS FOR THE OFFER AND USE OF PROCEEDS Not Applicable. 3.D. RISK FACTORS You should carefully consider the risks described below, together with all of the other information included in this Annual Report, in evaluating us and our shares. Our business, financial condition or results of operations could be materially and adversely affected by any of these risks. The trading price and value of our ordinary shares could decline due to any of these risks, and you may lose all or part of your investment. This Annual Report also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks faced by us described below and elsewhere in this Annual Report. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. Risks Related to Arqit's Business and Operations Arqit is an early stage company with a history of losses and will be reliant upon a significant increase in sales and marketing activity in order to become profitable in the future. Arqit has only just started to generate material revenues through the commercialization of its products. For the years ended September 30, 2022, 2023 and 2024, Arqit generated operating losses of $63.8 million, $54.5 million and $24.7 million respectively. Arqit intends to continue to invest and to increase investments in sales, marketing and product development, and believes that it will continue to incur operating and net losses until at least the time it is able to fully commercialize its products, but which may occur later than expected or not at all. There can be no assurance that Arqit's products or its sales strategy will be commercially successful. Arqit's potential profitability is dependent up

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View this 20-F filing on SEC EDGAR