Quantum Computing (QUBT) AI Stock Analysis

• Market Cap: $1.93B
• Dividend Yield: N/A
• Average Volume (3M): 13.29M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.87
• Revenue Growth: 41.51%
• EPS Growth: -111.74%
• Country: US
• Employees: 41
• Sector: Technology
• Sector Strength: 88
• Industry: Computer Hardware
• EPS (TTM): -0.01
• Shares Outstanding: 224,123,300
• 10 Day Avg. Volume: 9,715,074
• 30 Day Avg. Volume: 13,290,777
• PEG Ratio: 1.06
• Price to Book (P/B): 1.06
• Price to Sales (P/S): 2474.62
• P/FCF Ratio: -45.63
• Enterprise Value/Market Cap: 0.43
• Enterprise Value/Revenue: 1.21K
• Enterprise Value/Gross Profit: 12.28K
• Enterprise Value/Ebitda: -22.72
• 1Y Price Target: $17.00
• Price Target Upside: 97.90% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): -0.18
• Revenue Forecast (FY): $6.91M

• Rating: 55 Neutral
• Price Target: $9.00 ▲(4.77% Upside)
• Action: Reiterated Date: 03/03/26
• Date: Action: Reiterated 03/03/26

The score is held to the mid-range primarily by weak profitability and negative cash flow despite a strong, low-leverage balance sheet. Technically, the stock shows bearish momentum (below key moving averages and negative MACD), while positives from the earnings update and strategic M&A provide some offset.

Positive Factors

Strong Balance Sheet

A conservatively financed balance sheet with very low debt and an expanded equity base provides durable financial flexibility. This supports multi-quarter R&D, capex and M&A execution without immediate solvency pressure, lowering structural default risk while the business scales.

Large Capital Raise and Cash Resources

Substantial capital inflows have created a multi-quarter runway to fund scale-up, manufacturing transitions and R&D investments. This durable liquidity reduces near-term funding risk, enabling multi-year roadmap execution toward volume production and commercialization.

Vertical Integration via Luminar Semiconductor Acquisition

Buying Luminar Semiconductor gives end-to-end photonics control, strengthening supply chain resilience and manufacturing capability. This structural move aligns capabilities from chip to system, improving execution chances for volume production and supporting longer-term revenue visibility.

Negative Factors

Persistent Negative Cash Flow

Sustained negative operating and free cash flows mean the business depends on external funding until revenues and margins scale. Over the medium term this can force timing-sensitive financing decisions, constrain discretionary investment, and dilute shareholders if further raises are needed.

Weak Operating Profitability

Although gross margin improved, operating expenses far exceed current revenue, producing persistent losses and negative returns on equity. Until operating leverage is achieved, profitability remains uncertain and the company cannot sustainably self-fund growth.

Contract Concentration and Predictability Risk

Reliance on a few bespoke contracts creates revenue and margin volatility and limits repeatable, scalable revenue streams. This concentration reduces predictability of cash generation and complicates long-term planning for manufacturing scale and margin stability.

Quantum Computing Business Overview & Revenue Model

Company Description

Quantum Computing, Inc. focuses on providing software tools and applications for quantum computers in Virginia. The company offers Qatalyst, a quantum application accelerator that enables developers to create and execute quantum-ready applications on conventional computers, while being ready to run on quantum computers as well as provides multiple quantum processing units including DWave, Rigetti, and IonQ. It focuses on serving commercial and government entities. The company, formerly known as Innovative Beverage Group Holdings, Inc. Quantum Computing, Inc. was founded in 2018 and is based in Leesburg, Virginia.

How the Company Makes Money

QUBT generates revenue through multiple channels, including the sale of quantum hardware and software licenses, subscription fees for access to its cloud-based quantum computing platform, and consultancy services. Key revenue streams include partnerships with academic institutions and research organizations that require advanced computational capabilities, as well as collaborations with enterprises across sectors such as finance, pharmaceuticals, and logistics that seek to leverage quantum computing for optimization and predictive analytics. Additionally, QUBT may benefit from government grants and funding aimed at promoting technological innovation in quantum computing.

Quantum Computing Financial Statement Overview

Summary

Balance sheet strength (very low leverage and a large equity cushion) supports a mid-range score, but it is offset by weak operating profitability and ongoing cash burn. Revenue growth and improved gross margin/gross profit are positive, yet the business remains far from consistently self-funding.

Income Statement

Revenue is starting to scale off a small base (2025 revenue up ~25% year over year), and gross margin improved meaningfully in 2025 (positive gross profit after several years of negative gross profit). However, profitability remains very weak: the company continues to post large operating losses and a deeply negative net margin in 2025, indicating expenses are far outpacing the current revenue run-rate. Overall, the trajectory is improving at the top line and gross profit level, but the business is still far from operating breakeven.

Balance Sheet

The balance sheet looks conservatively financed with very low leverage (debt is tiny relative to equity in 2025). Equity has expanded dramatically versus prior years, providing a substantial capital cushion and financial flexibility. The key weakness is ongoing negative returns on equity driven by persistent losses, meaning the enlarged equity base is not yet translating into sustainable earnings power.

Cash Flow

Cash generation remains a major headwind: operating cash flow and free cash flow are solidly negative across the period, and cash burn increased in 2025 versus 2024. While free cash flow has been consistently less negative than net income (suggesting meaningful non-cash charges), the company still relies on external funding to support operations until revenues scale and costs normalize.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	682.00K	373.00K	358.00K	136.00K	0.00
Gross Profit	67.00K	-3.69M	-3.15M	-1.79M	-9.00K
EBITDA	-51.08M	-62.25M	-22.11M	-23.34M	-27.61M
Net Income	-18.67M	-68.54M	-27.02M	-25.98M	-27.90M
Balance Sheet
Total Assets	1.62B	153.56M	74.36M	78.51M	17.28M
Cash, Cash Equivalents and Short-Term Investments	1.12B	78.94M	2.06M	5.31M	16.74M
Total Debt	1.81M	1.18M	2.77M	10.16M	18.08K
Total Liabilities	20.66M	46.27M	5.65M	13.39M	1.08M
Stockholders Equity	1.60B	107.29M	68.70M	65.12M	16.20M
Cash Flow
Free Cash Flow	-36.98M	-22.25M	-20.43M	-16.25M	-6.82M
Operating Cash Flow	-30.29M	-16.21M	-18.32M	-15.38M	-6.80M
Investing Cash Flow	-788.33M	-6.04M	-2.61M	-2.23M	-22.50K
Financing Cash Flow	1.48B	99.14M	17.68M	6.17M	8.39M

Quantum Computing Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.59
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For QUBT, the sentiment is Negative. The current price of 8.59 is below the 20-day moving average (MA) of 8.60, below the 50-day MA of 10.24, and below the 200-day MA of 14.41, indicating a bearish trend. The MACD of -0.57 indicates Negative momentum. The RSI at 44.62 is Neutral, neither overbought nor oversold. The STOCH value of 69.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QUBT.

Quantum Computing Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
QUBT	55 Neutral	$1.93B	-14.20	-14.49%	―	41.51%	-111.74%
IONQ	53 Neutral	$14.06B	-16.08	-24.40%	―	113.07%	-555.52%
QBTS	48 Neutral	$7.01B	-17.19	-77.62%	―	156.20%	-218.56%
RGTI	45 Neutral	$5.84B	-13.61	-141.90%	―	-36.98%	-238.63%

Quantum Computing Corporate Events

Quantum Computing Finalizes Luminar Semiconductor Acquisition Strategy Shift

On February 2, 2026, Quantum Computing Inc. completed the previously announced acquisition of Luminar Semiconductor Inc., a subsidiary of Luminar Technologies, in an all-cash transaction valued at $110 million, consisting of approximately $97.5 million paid at closing and $11 million held in escrow until February 2, 2027 for limited indemnification obligations. The deal marks a key step in QCi’s strategy to build a vertically integrated photonics and quantum technology platform by combining its thin-film lithium niobate integrated photonics with Luminar Semiconductor’s lasers, detectors, packaging and manufacturing capabilities, giving QCi end-to-end control of the photonics signal chain and accelerating its shift from technology development to scalable manufacturing. Luminar Semiconductor will operate as a wholly owned subsidiary, preserving its existing aerospace, defense and industrial customer relationships that provide near-term revenue visibility, while bolstering QCi’s positioning as a domestically focused provider aligned with U.S. reshoring trends and demand from government and national security stakeholders; the company also confirmed it had decided in January 2026 not to pursue a separate acquisition of certain Luminar LiDAR assets, citing disciplined capital allocation.

The most recent analyst rating on (QUBT) stock is a Buy with a $10.50 price target. To see the full list of analyst forecasts on Quantum Computing stock, see the QUBT Stock Forecast page.

Quantum Computing Pursues Luminar Assets to Expand Photonics

On January 11–12, 2026, Quantum Computing Inc. announced it had entered into a purchase agreement and been designated the stalking horse bidder to acquire selected remaining assets of bankrupt Luminar Technologies and its subsidiaries for approximately $22 million in cash, subject to a U.S. Bankruptcy Court–supervised auction and other customary closing conditions. The assets include LiDAR-related inventory, intellectual property, hardware and software platforms, contracts, and other operational infrastructure tied to light detection and ranging solutions for passenger and commercial vehicles, with QCi also assuming certain specified liabilities. Together with QCi’s previously announced proposed acquisition of Luminar Semiconductor, the deal is intended to broaden QCi’s reach across the photonics value chain, from chip design and packaging through full system delivery and field deployment, potentially adding immediate revenue, an expanded manufacturing and deployment footprint, and key engineering and technical teams. If completed, the transactions would deepen QCi’s capabilities in deployed sensing systems and support its strategy to build scalable commercial photonics platforms as a springboard into future quantum sensing, computing, communication, and photonic AI markets, though the outcome remains uncertain given competing bids, court approvals, and integration and execution risks.

The most recent analyst rating on (QUBT) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Quantum Computing stock, see the QUBT Stock Forecast page.

Quantum Computing Appoints Dr. Huang as CEO

On December 12, 2025, Quantum Computing Inc. appointed Dr. Yuping Huang as Chief Executive Officer following his interim leadership since April 11, 2025. Dr. Huang, a seasoned quantum technology expert and founder of QPhoton, Inc., brings significant expertise to the role, contributing to the company’s strategic growth in quantum innovation. As part of his appointment, Dr. Huang’s compensation package includes an annual base salary of $425,000, a target annual bonus, and eligibility for long-term incentives. This leadership transition solidifies Quantum Computing Inc.’s commitment to advancing its market positioning and stakeholder value in the rapidly developing quantum technology space.

The most recent analyst rating on (QUBT) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Quantum Computing stock, see the QUBT Stock Forecast page.

Quantum Computing Announces Acquisition of Luminar Semiconductor

On December 15, 2025, Quantum Computing Inc. announced its agreement to acquire Luminar Semiconductor, Inc. for $110 million in cash. This acquisition aims to enhance QCi’s technology roadmap by integrating Luminar’s photonic components, patents, and experienced team into QCi’s operations. The transaction is subject to approval from the U.S. Bankruptcy Court as Luminar’s parent company has filed for Chapter 11 bankruptcy. If successful, this acquisition is expected to strengthen QCi’s supply chain, expand its engineering workforce, and accelerate the commercialization of quantum systems.

The most recent analyst rating on (QUBT) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Quantum Computing stock, see the QUBT Stock Forecast page.