Quantum Computing (QUBT) AI Stock Analysis

• Market Cap: $2.08B
• Dividend Yield: N/A
• Average Volume (3M): 15.57M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.70
• 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: 16,673,942
• 30 Day Avg. Volume: 15,568,815
• PEG Ratio: -0.31
• Price to Book (P/B): 14.48
• Price to Sales (P/S): 4165.50
• P/FCF Ratio: -69.83
• Enterprise Value/Market Cap: 0.44
• Enterprise Value/Revenue: 1.68K
• Enterprise Value/Gross Profit: -450.54
• Enterprise Value/Ebitda: -14.78
• 1Y Price Target: $18.00
• Price Target Upside: 94.17% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): -0.18
• Revenue Forecast (FY): $6.91M

• Rating: 51 Neutral
• Price Target: $9.50 ▲(2.48% Upside)

Overall score is held back primarily by weak core financial performance (losses and negative operating cash flow) and only modest valuation support (negative P/E, no dividend). Technicals are mixed with longer-term downtrend signals (below key moving averages) despite neutral momentum. Offsetting these, the earnings call and recent strategic events were positive, highlighted by significant capital raising, improving margins, and planned expansion across the photonics value chain.

Positive Factors

Strong capital position after large raises

The company secured >$1.25 billion in new capital, materially extending runway to execute its three-year roadmap. This durable funding reduces near-term refinancing risk, enables multi-year R&D and scaling investments, and lowers the probability of forced asset sales or curtailed programs.

Improving revenue and gross margins

A meaningful rise in gross margin alongside revenue growth suggests improving unit economics and early product-market traction. If sustained, higher gross margins create a clearer pathway to operating profitability as the company scales manufacturing and recurring cloud/service revenues.

Low leverage and healthier balance sheet

Lower leverage provides financial flexibility for capital-intensive scaling, M&A, and R&D without heavy interest burdens. A healthier equity-funded structure reduces bankruptcy risk and preserves the company’s ability to invest in multi-year commercialization efforts.

Negative Factors

Negative operating cash flow

Persistent negative operating cash flow is a structural concern: it indicates the business is not yet self-funding growth and remains reliant on external capital. Over months this elevates dilution risk and constrains discretionary investments if capital markets tighten.

Persistent unprofitable income statement

Despite strong topline growth, costs outpace revenues across margins, signaling structural profitability challenges. Without sustained margin expansion and operating cost control, scaling revenue could exacerbate losses and delay durable free cash flow generation.

Acquisition execution and integration risk

Pursuing bankrupt Luminar assets could accelerate photonics capabilities but court approvals, competing bids, and integration demands create execution risk. Protracted processes or failed integration would divert management focus, increase costs, and could undermine projected strategic synergies.

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

Financial statements point to weak underlying profitability and cash generation: negative gross and net margins with deeply negative EBIT/EBITDA margins, plus negative operating cash flow. The balance sheet is less leveraged (a positive), but negative ROE and ongoing losses remain the dominant issue despite strong reported revenue growth.

Income Statement

Quantum Computing's income statement reveals significant challenges. The company has negative gross and net profit margins, indicating it is not currently profitable. Despite a notable revenue growth rate of 107.6% in the TTM, the company continues to incur substantial losses, with EBIT and EBITDA margins also deeply negative. This suggests that while revenue is increasing, costs are outpacing income, leading to persistent losses.

Balance Sheet

The balance sheet shows a low debt-to-equity ratio, which is a positive indicator of financial stability. However, the negative return on equity highlights that the company is not generating profits from its equity base. The equity ratio is relatively healthy, suggesting that the company is not overly reliant on debt financing, but the lack of profitability remains a concern.

Cash Flow

Cash flow analysis indicates that Quantum Computing is facing cash flow challenges. The operating cash flow is negative, and while the free cash flow growth rate is positive, it is still negative overall. The operating cash flow to net income ratio is unfavorable, suggesting inefficiencies in converting income into cash. The free cash flow to net income ratio is above 1, indicating that free cash flow is higher than net income, but this is due to the negative net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	546.00K	373.00K	358.00K	136.00K	0.00	0.00
Gross Profit	-2.03M	-3.69M	-3.15M	-1.79M	-9.00K	-6.61K
EBITDA	-61.93M	-62.25M	-22.11M	-23.34M	-27.61M	-18.72M
Net Income	-68.38M	-68.54M	-27.02M	-25.98M	-27.90M	-24.73M
Balance Sheet
Total Assets	898.17M	153.56M	74.36M	78.51M	17.28M	15.27M
Cash, Cash Equivalents and Short-Term Investments	555.57M	78.94M	2.06M	5.31M	16.74M	15.20M
Total Debt	2.58M	1.18M	2.77M	10.16M	18.08K	218.37K
Total Liabilities	20.32M	46.27M	5.65M	13.39M	1.08M	693.21K
Stockholders Equity	877.85M	107.29M	68.70M	65.12M	16.20M	14.57M
Cash Flow
Free Cash Flow	-31.45M	-22.25M	-20.43M	-16.25M	-6.82M	-11.55M
Operating Cash Flow	-23.05M	-16.21M	-18.32M	-15.38M	-6.80M	-11.54M
Investing Cash Flow	-469.04M	-6.04M	-2.61M	-2.23M	-22.50K	-11.97K
Financing Cash Flow	841.46M	99.14M	17.68M	6.17M	8.39M	26.65M

Quantum Computing Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 9.27
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 9.27 is below the 20-day moving average (MA) of 11.57, below the 50-day MA of 11.54, and below the 200-day MA of 14.27, indicating a bearish trend. The MACD of -0.37 indicates Positive momentum. The RSI at 35.00 is Neutral, neither overbought nor oversold. The STOCH value of 8.10 is Positive, 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%
IONQ	53 Neutral	$14.16B	-7.47	-108.23%	―	113.07%	-555.52%
QUBT	51 Neutral	$2.08B	-15.33	-14.49%	―	41.51%	-111.74%
QBTS	49 Neutral	$7.92B	-15.71	-122.03%	―	156.20%	-218.56%
RGTI	45 Neutral	$6.00B	-13.97	-141.90%	―	-36.98%	-238.63%

Quantum Computing Corporate Events

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.