Quantum Computing Inc. (QUBT) has built a large cash base after a major stock sale in 2025, yet the firm still has very low sales. Now, the company is asking its shareholders to back a new phase that centers on hardware, scale, and long-term growth.
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Forget margin or options. Here's how the pros trade QUBTThe proxy filing for the 2026 annual meeting shows a firm in shift. It also shows the key trade-off for shareholders today: clear upside tied to new tech and clear risk tied to more share dilution.
Meanwhile, QUBT shares rose 4.78% on Wednesday, closing at $9.86.
A Shift to Hardware and Scale
First, the firm is no longer just a pure research play. It is now moving toward a full-stack model that blends quantum tech with photonics and chip design. In 2025, QCI said it “substantially completed the buildout” of its chip site in Arizona and began small-batch production.
At the same time, the firm is set to add more scale. It is now in the early planning stage for a second site to boost output. In addition, it closed semiconductor">deals for Luminar Semiconductor and NuCrypt in early 2026 to grow its tech base.
This marks a clear step toward a real product model. The firm also noted early wins, such as a sale to a top-five U.S. bank and work with NASA. These deals show that demand may be forming, even if at a small scale for now.
Strong Cash, but Low Sales and More Dilution
Still, the gap between funds and sales stands out. For 2025, the firm posted $682,000 in sales, up from $373,000 in 2024. At the same time, it ended the year with $737.9 million in cash and cash equivalents.
That cash came at a cost. The firm sold 86.3 million shares in 2025 and raised about $1.475 billion. This has set the base for more work, but it has also led to share dilution.
Now, the firm is set to ask shareholders to back more of the same. The proxy lists plans to raise the number of shares and to boost its equity plan. These moves give the firm more room to raise funds and pay staff with stock.
In the meantime, the firm has begun to tie pay more to results. For 2026, it set a goal that may include “progress toward a $30 million revenue objective.” This shows a move toward a clearer link between pay and growth.
In summary, QCI now has the funds to build out its plan. Yet it must show that it can turn that base into real sales. For now, holders face a clear tradeoff between long-term growth and near-term dilution.
Is QUBT Stock a Strong Buy?
On the Street, QCI has a Moderate Buy consensus, based on six analysts’ ratings. The average QUBT stock price target is $17.83, implying an 80.87% upside from the current price.
