Quantum Computing (QUBT) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $9.5M, exceeding H1 2026 revenue of $9.2M; acquired businesses contributed $8.8M.

• Gross profit was $428K, while operating loss was $28.6M and net loss was $15.1M.

• Quarter-end cash, investments and accrued interest totaled ~$1.3B; contract backlog was ~$39.1M.

Financial highlights

• Q3 revenue was $9.5M vs. $384K YoY; 9M revenue was $18.742M vs. $484K, with acquired businesses contributing $17.4M.

• Q3 gross profit was $428K and gross margin 4.5%; 9M gross loss was $1.5M vs. $165K gross profit.

• Q3 operating expenses were $29.0M and operating loss $28.6M; 9M operating loss was $72.148M vs. $28.861M.

• Q3 net loss was $15.1M, or $0.07 per share, vs. net income of $2.4M; 9M net loss was $30.948M vs. $17.118M.

• Q3 interest and other income was $13.0M, primarily reflecting interest on larger cash and investment balances.

Outlook and guidance

• Priorities include expanding commercial business, integrating acquired capabilities, scaling manufacturing and advancing quantum technologies, including TFLN and Arizona foundry services.

• Manufacturing consolidation, higher utilization and improved operating efficiency are priorities as commercial operations scale; under-utilization may pressure near-term margins.

• Existing cash, cash equivalents and investments are expected to cover working capital and capital expenditure needs for at least 12 months; additional capital raising remains an option.

• Additional losses and higher operating expenses are expected for the foreseeable future amid continued R&D, manufacturing and commercialization investment.