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Quantum Computing Inc. Reports Third Quarter 2026 Financial Results

Quantum Computing Inc. (referred to as QCi) recently announced its financial performance for the third quarter of 2026. The company, which focuses on quantum technology through photonics and semiconductor manufacturing, reported notable financial developments that highlight its growth trajectory and strategic direction in the quantum landscape.

Strong Revenue Growth

In the third quarter, QCi achieved revenues of $9.5 million, a significant increase compared to the first half of 2026 where the company accumulated $9.2 million. This impressive growth can be primarily attributed to the recent acquisitions of Luminar Semiconductors, NuCrypt, and NHanced that occurred earlier in the year. These acquisitions not only bolstered QCi's product offerings but also enhanced its ability to serve established markets such as aerospace, government, and industrial sectors. Dr. Yuping Huang, CEO of QCi, emphasized the company's shift in focus towards practical applications of its technology, stating that they were moving towards harnessing their innovations to better serve customer needs.

Key Financial Metrics

The quarterly results reveal a gross profit of approximately $428,000, which translates to a gross margin of 4.5%. Operating expenses increased to $29 million, largely due to heightened personnel costs and investments in research and development, as well as marketing activities. While the net loss for the quarter was $15.1 million, equivalent to $0.07 per basic share, QCi ended the quarter with substantial liquidity, boasting around $1.3 billion in cash, cash equivalents, and investments. This financial cushion positions the company well for future investments and growth initiatives.

Contract Backlog and Business Expansion

By September 30, 2026, QCi reported an impressive contract backlog of approximately $39.1 million. This backlog signifies contracted work expected to be completed, showcasing a robust pipeline of projects and signaling positive momentum in QCi's operational capabilities. The integration of the acquired businesses has been a priority for QCi, enhancing its position to leverage established relationships and its advanced manufacturing capabilities as it scales its business operations.

Advancements in Academic and Pharmaceutical Collaborations

A significant highlight during the quarter was QCi's collaboration with Hamad Bin Khalifa University in Qatar. This partnership aims to promote quantum education and research, facilitating access to QCi's state-of-the-art Dirac-3 quantum optimization system. Such academic collaborations are critical in elevating the understanding of quantum technologies and exploring their applications across various sectors.

Additionally, QCi made strides into the pharmaceutical industry by signing a commercial agreement with INmune Bio. This collaboration focuses on the application of QCi's quantum optimization technology alongside artificial intelligence and conventional analytics to analyze complex medical data. This engagement represents QCi's inaugural foray into healthcare, with a clear vision of applying quantum technology to real-world medical challenges, particularly in the realm of Alzheimer's research.

Looking Ahead

As QCi prepares for its future, the company is committed to enhancing its manufacturing capabilities and expanding its commercial relationships. The goal is to not only sustain the current growth momentum but also pioneer innovative solutions that further integrate quantum technologies into diverse applications. With significant cash reserves and an ambitious roadmap, QCi is aiming to solidify its standing as a leader in the quantum computing arena.

For more details on QCi's financial outlook and upcoming initiatives, investors can participate in an earnings conference call scheduled for November 9, 2026, at 4:30 PM ET. This call will outline the progress made and the strategic direction moving forward as QCi continues its journey to revolutionize quantum computing.

About Quantum Computing Inc.

Based in Hoboken, New Jersey, Quantum Computing Inc. focuses on making quantum technology viable and accessible. The company's innovations move beyond theoretical applications to practical products designed for operations at room temperature, making them suitable for various industries including AI, secure communications, and aerospace. For anyone interested in learning more about QCi and its advancements in quantum technologies, further information can be found on their official website.