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Jun 30
Quantum Computing Inc Q2 2025 Earnings Report
Quantum Computing Inc. reported a significant year-over-year net loss increase in Q2 2025, primarily due to a non-cash derivative adjustment.
Key Takeaways
QCi posted $61,000 in revenue for the quarter and a net loss of $36.5 million, largely driven by a $28 million non-cash mark-to-market loss related to a warrant derivative liability. Despite the financial loss, the company made progress in commercial deployments and operational scaling.
Revenue was $61,000, down from $183,000 YoY
Net loss widened to $36.5 million due to $28M non-cash charge
Operating expenses nearly doubled YoY to $10.2 million
Ended the quarter with $348.8 million in cash following a $188 million capital raise
Quantum Computing Inc
Quantum Computing Inc
Forward Guidance
The company did not provide specific financial guidance but emphasized growing commercial traction, international shipments, and strategic partnerships.
Positive Outlook
- Shipped first entangled photon source to South Korea
- Secured order from Delft University for quantum sensing
- First U.S. sale of quantum cybersecurity solution
- Expanded leadership team to support commercialization
- Opened operational chip foundry in Arizona
Challenges Ahead
- Net loss increased significantly YoY
- Operating expenses nearly doubled
- Revenue declined YoY
- Heavily impacted by non-cash derivative liability
- Still early in commercial adoption with limited revenues