Quantum Computing Inc. Reports First Quarter 2026 Financial Results
HOBOKEN, N.J., May 11, 2026 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), a quantum optics and integrated photonics company, today released financial results for the three months ended March 31, 2026.
Dr. Yuping Huang, Chief Executive Officer of QCi, commented, "QCi made significant operational progress in the first quarter of 2026, furthering our mission of delivering accessible, scalable, and affordable quantum machines and photonic solutions for practical use across high-growth markets, including high-performance computing, artificial intelligence, cybersecurity, aerospace and defense, and advanced sensing and imaging. As demand for faster and more efficient data processing grows, it is becoming increasingly clear that photonics will be a critical component of future technological advancements given its low power consumption and ability to operate at room temperature. During the first quarter we strengthened our position in this space, and made significant progress in advancing our technology roadmap and continued to grow our commercial momentum.
"We completed two key acquisition opportunities in the quarter, closing the acquisitions of Luminar Semiconductor, Inc. ("LSI"), and NuCrypt, LLC ("NuCrypt"), improving our path to scalable manufacturing and bolstering our portfolio of quantum communications and photonics solutions. We are currently integrating LSI and NuCrypt into QCi. These acquisitions bring established capabilities in lasers, detectors and advanced packaging, broad R&D and manufacturing capabilities, and an experienced team of engineers and scientists, further expanding our talent base and execution capacity. As we move through 2026, we remain focused on expanding our strategic partnerships, scaling our technology and manufacturing capabilities, and continuing to advance our mission of putting quantum-enabled solutions into the hands of people."
First Quarter 2026 Financial Highlights
First Quarter 2026 Operational Highlights
Earnings Conference Call
The Company will host its first quarter 2026 call today, Monday, May 11, 2026, at 4:30 p.m. ET. To access the live webcast of the conference call, visit the QCi Investor Relations page at https://quantumcomputinginc.com/investor-relations. Investors may also access the webcast via the following link: https://www.webcaster5.com/Webcast/Page/3051/53987.
To participate in the call by phone, dial (888) 506-0062 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0011. Callers should use access code: 639951.
A replay of the teleconference will be available until May 25, 2026, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 53987.
About Quantum Computing Inc.
Quantum Computing Inc. (Nasdaq: QUBT) is a quantum optics and integrated photonics company focused on delivering accessible, scalable, and cost-effective quantum machines and photonic solutions. The Company provides foundry services for thin-film lithium niobate ("TFLN") photonic chips and offers a vertically integrated portfolio spanning photonics components, subsystems, and full-stack systems.
Designed to operate at room-temperature with low-power requirements, QCi's technologies enable practical deployment across high-growth markets, including high-performance computing, artificial intelligence, cybersecurity, aerospace and defense, and advanced sensing and imaging.
Headquartered in Hoboken, New Jersey, QCi has operations in Arizona, California, Illinois, Massachusetts and Virginia. By combining advanced materials, device engineering, and scalable manufacturing, QCi delivers integrated quantum and photonics technologies, accelerating commercialization and real-world adoption.
Company Contact:
John Nesbett/Zach Nevas
IMS Investor Relations
[email protected]
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our expectations of future results, operational expansion and business strategy are forward-looking statements. The words "believe," "may," "will," "estimate," "potential," "continue," "anticipate," "intend," "expect," "strategy," "future," "could," "would," "project," "plan," "target," and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to, future demand for quantum and photonic products, the Company's ability to scale its technology and manufacturing, the Company's ability to integrate and benefit from recent acquisitions, and the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC's website at www.sec.gov and the Investor Relations section of our website at https://quantumcomputinginc.com/investor-relations, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
QUANTUM COMPUTING INC.
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income
(Unaudited, in thousands, except per share data)
Three Months Ended
March 31,
2026
2025
Total revenue
$
3,691
$
39
Cost of revenue
4,412
26
Gross (loss) profit
(721)
13
Operating expenses
Research and development
6,969
2,985
Sales and marketing
1,597
672
General and administrative
11,263
4,642
Total operating expenses
19,829
8,299
Loss from operations
(20,550)
(8,286)
Non-operating income (expense)
Interest and other income
13,495
1,696
Interest expense
(171)
(58)
Change in fair value of derivative liability
3,176
23,630
(Loss) income before income tax provision
(4,050)
16,982
Income tax provision
-
-
Net (loss) income
(4,050)
16,982
Other comprehensive (loss) income:
Unrealized losses on available-for-sale debt securities
(3,822)
-
Total comprehensive (loss) income
$
(7,872)
$
16,982
(Loss) earnings per share:
Basic
$
(0.02)
$
0.13
Diluted
$
(0.02)
$
0.11
Weighted average shares used in computing net (loss) income per common share:
Basic
223,986
135,217
Diluted
223,986
153,006
QUANTUM COMPUTING INC.
Condensed Consolidated Balance Sheets
(Unaudited, in thousands, except par value data)
March 31,
2026
December 31,
2025
Assets
Current assets:
Cash and cash equivalents
$
257,711
$
737,880
Accounts receivable, net
4,281
519
Inventory
4,112
352
Short-term investments
728,401
379,421
Accrued interest receivable
5,346
3,634
Prepaid expenses and other current assets
5,225
11,914
Total current assets
1,005,076
1,133,720
Property and equipment, net
16,942
12,971
Operating lease right-of-use assets
5,206
2,353
Intangible assets, net
19,191
6,500
Goodwill
146,511
55,573
Long-term investments
422,818
403,121
Accrued interest receivable - long term
4,517
4,551
Other non-current assets
273
131
Total assets
$
1,620,534
$
1,618,920
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$
2,707
$
778
Accrued expenses
8,342
9,135
Deferred revenue
1,882
395
Other current liabilities
2,144
766
Total current liabilities
15,075
11,074
Derivative liability
4,597
7,773
Operating lease liabilities
3,678
1,808
Total liabilities
23,350
20,655
Commitments and Contingencies (see Note 10)
Stockholders' equity:
Preferred stock, $0.0001 par value, 1,550 shares Series A Preferred authorized; no
shares issued and outstanding as of March 31, 2026 and December 31, 2025,
respectively; 3,080 shares of Series B Preferred Stock authorized; no shares issued
and outstanding as of March 31, 2026 and December 31, 2025, respectively
-
-
Common stock, $0.0001 par value, 250,000 shares authorized; 225,494 and 224,165
shares issued and outstanding as of March 31, 2026 and December 31, 2025,
respectively
23
22
Additional paid-in capital
1,823,284
1,816,494
Accumulated deficit
(223,206)
(219,156)
Accumulated other comprehensive (loss) income
(2,917)
905
Total stockholders' equity
1,597,184
1,598,265
Total liabilities and stockholders' equity
$
1,620,534
$
1,618,920
SOURCE Quantum Computing Inc.