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Sep 30
Quantum Computing Inc Q3 2025 Earnings Report
Quantum Computing Inc reported Q3 2025 results with strong revenue growth, a return to net profitability, and expanded commercial traction.
Key Takeaways
QCi saw a substantial increase in revenue and transitioned to net profitability in Q3 2025, driven by new commercial deals, including a key sale to a top U.S. bank. The company raised $500 million during the quarter and ended with a robust cash and investment position exceeding $800 million.
Revenue rose to $384,000, up from $101,000 a year ago.
Net income reached $2.4 million versus a $5.7 million loss last year.
Operating expenses nearly doubled to $10.5 million as QCi invested in R&D and scaling.
QCi ended the quarter with $352.4 million in cash and $460.6 million in investments.
Quantum Computing Inc
Quantum Computing Inc
Forward Guidance
QCi is focused on long-term growth through scaling its quantum manufacturing capabilities, strategic hiring, and expanding commercial and government partnerships.
Positive Outlook
- Raised an additional $750 million post-quarter for strategic growth.
- Strengthened partnership with NASA for quantum-based atmospheric sensing.
- First U.S. commercial sale of quantum cybersecurity solutions to a top 5 bank.
- Stabilized and ramped early-stage photonic chip manufacturing in Arizona.
- Joined Quantum Economic Development Consortium to expand industry engagement.
Challenges Ahead
- Gross margin remains variable at low revenue levels.
- Operating expenses increased significantly, reflecting high investment spend.
- Free cash flow not reported, raising questions about operational efficiency.
- Continued operating losses despite top-line growth in core business.
- Dependence on mark-to-market gains and interest income for net income.