(Updated) – Shares of Quantum Computing (QUBT) surged in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2026. Earnings per share came in at -$0.02, which beat analysts’ consensus estimate of -$0.05 per share. In addition, sales increased significantly year-over-year, with revenue hitting $3.7 million versus the $39,000 in Q1 2025. This beat analysts’ expectations of $3.13 million. This revenue jump is mainly due to QUBT’s acquisitions of Luminar Semiconductor in February and NuCrypt in March.
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Double your QUBT exposure with Tradr's QUBXQUBT bought Luminar Semiconductor in an all-cash deal valued at $110 million, which added photonic components, lasers, detectors, advanced packaging, and manufacturing capabilities. It also acquired NuCrypt for $5 million for quantum communications technology. In addition, the company connected its Dirac-3 quantum optimization machine to Quantum Corridor’s network, thereby providing institutions and commercial customers with more secure, on-demand access through a quantum-safe commercial communication network.
QUBT Is Still Investing Heavily
Nevertheless, QUBT is still investing heavily. Operating expenses rose 139% year-over-year to $19.8 million, mainly due to higher personnel costs and acquisition-related expenses. Still, QUBT ended the quarter with about $1.4 billion in cash, cash equivalents, and investments, $1.6 billion in stockholders’ equity, and a contract backlog of about $16 million. Its Fab 1 facility has also begun generating early revenue from small-batch manufacturing, while the company continues exploring options for a larger Fab 2 facility to expand production capacity.
Is QUBT Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on QUBT stock based on four Buys, two Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average QUBT price target of $17.83 per share implies 75.4% upside potential. However, it’s worth noting that estimates will likely change following today’s earnings report.
