Quantum Computing Third-Quarter Sales Top First-Half Total

The Tip Desk · November 12, 2026 · 3 min read

Revenue reached $9.5 million in the three months ended September 30, 2026, above the $9.2 million for the entire first half, as acquired photonics and packaging businesses added commercial sales.

Quantum Computing Inc. (QUBT) generated $9.5 million in revenue in the third quarter ended September 30, 2026, exceeding the $9.2 million reported for the entire first half of 2026.

The vertically integrated quantum company said the increase was primarily driven by Luminar Semiconductors, NuCrypt and NHanced Semiconductors, businesses acquired during the first half of 2026, including photonic components, quantum communications products and advanced packaging services sold to aerospace, government and industrial markets. Third-quarter sales were up from $5.6 million in the second quarter and $3.7 million in the first quarter.

Gross profit totaled approximately $428 thousand, for a gross margin of 4.5%. The company said it continues to focus on increasing manufacturing utilization and improving operating efficiency as it scales commercial operations.

Total operating expenses were $29.0 million, compared with $10.5 million in the prior-year period. The company said the increase is primarily due to higher personnel expenses and other costs associated with expanded research and development, sales and marketing activities, as well as approximately $1.0 million in acquisition-related expenses. Operating expenses had been $21.8 million in the second quarter and $19.8 million in the first quarter.

The company reported a net loss of $15.1 million, or $0.07 a share, for the third quarter, widening from an $11.8 million loss, or $0.05 a share, in the second quarter and a $4.1 million loss, or $0.02 a share, in the first quarter.

Interest and other income totaled $13.0 million, matching the $13 million reported in the second quarter, primarily reflecting interest earned on larger cash and investment balances.

QCi ended the quarter with approximately $1.3 billion in cash, cash equivalents and investments and accrued interest, including $174.3 million in cash and cash equivalents and $1.1 billion in short- and long-term investments. Cash, cash equivalents and investments were $1.3 billion at June 30, 2026 and $1.4 billion at March 31, 2026.

Contract backlog totaled approximately $39.1 million as of September 30, 2026, up from approximately $16 million as of March 31, 2026. The company said backlog represents contracted work expected to be performed and remains subject to contract terms.

During the quarter, QCi entered a commercial agreement with INmune Bio to apply its Dirac quantum optimization technology alongside AI and conventional analytics to clinical and biomedical data, including potential applications for INmune Bio’s investigational Alzheimer’s treatment. The company said the engagement marks its first commercial customer in the pharmaceutical and biotechnology market. In September it also entered a framework agreement with Hamad Bin Khalifa University in Qatar covering quantum education, research and co-marketing, including cloud access to its Dirac-3 system.

Chief Executive Officer Dr. Yuping Huang said the company’s focus is increasingly shifting from what it can build to what it can put to work for customers, and that priorities are growing the commercial business, scaling manufacturing and advancing the quantum roadmap.