Key Highlights

  • Record Revenue was USD 9.5 million, compared with USD 384 thousand.
  • Net loss was USD 15.1 million, or USD 0.07 per basic share.
  • Contract Backlog was approximately USD 39.1 million.
  • Cash, equivalents and investments were approximately USD 1.3 billion.

Quantum Computing Inc. (NASDAQ:QUBT) reported third quarter 2026 record revenue of USD 9.5 million, led primarily by its expanded photonics Business serving customers across a range of established markets. Reported EPS was negative USD 0.07 and revenue was USD 9.50 million, compared with estimates of EPS of negative USD 0.04 and revenue of USD 7.61 million.

Third quarter revenue compared with USD 384 thousand in the same period last year and exceeded the USD 9.2 million of revenue generated during the entire first half of 2026.

Profit and Loss

Gross profit was USD 428 thousand, for a gross Margin of 4.5%. Operating expenses totaled USD 29 million, compared with USD 10.5 million in the same period last year, which the company tied largely to higher personnel and related costs from expanded R&D, sales and Marketing activity, as well as approximately USD 1 million in Acquisition related expenses.

Interest and other income totaled USD 13 million, compared with USD 3.5 million a year ago. The company reported a net loss of USD 15.1 million, or USD 0.07 per basic share, compared with Net Income of USD 2.4 million, or USD 0.01 per basic share, in the prior year period.

Balance Sheet

The company ended the third quarter with approximately USD 1.3 billion in cash, cash equivalents and investments, consistent with its position at the end of the second quarter. Total Assets were approximately USD 1.6 billion and total liabilities were USD 47.7 million. It also ended the quarter with approximately USD 39.1 million in contract backlog.

As of September 30, 2026, the company had approximately USD 174.3 million in cash and cash equivalents, approximately USD 1.1 billion in investments and approximately USD 916.9 million in working capital. The company stated that it believes its Liquidity is sufficient to fund operations for at least the next 12 months.

Technology and Priorities

Chairman and Chief Executive Officer Yuping Huang described the company's belief that light offers one of the most promising paths to making quantum technology practical and accessible. The company recently announced its next generation Dirac-3 quantum optimization machine, which is designed to solve optimization problems with up to 9.98 thousand variables, and published benchmarking results comparing the system with leading classical optimization solvers.

The filing describes three acquisitions completed during 2026: Luminar Semiconductor, Inc. in February, NuCrypt, LLC in March and NHanced Semiconductors, Inc. in June. Cash Flow Statement lines show USD 97.5 million paid for Luminar Semiconductor and USD 2.4 million, net of cash acquired, for NuCrypt. The filing says the NHanced acquisition launched the Fab 2 initiative ahead of schedule.

Management said it has achieved all the objectives in its 2024 to 2026 portfolio road map and is focused on three connected priorities over the next 12 to 24 months. It also said it has brought together a group of people and capabilities that leave it in a stronger position than a year ago.

Photonics, Priorities and Liquidity

Quantum Computing Inc. reported record revenue of USD 9.5 million, USD 1.3 billion in cash and investments and USD 39.1 million of contract backlog. Management described three priorities over the next 12 to 24 months and the Dirac-3 machine, which is designed for optimization problems of up to 9.98 thousand variables.