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Quantum Computing
(NASDAQ:QUBT)
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Rating:53Neutral
Price Target:
$10.00
▲(4.49% Upside)
Action:Reiterated
Date:07/01/26
The score is anchored by mixed financial performance: strong balance-sheet strength and improving revenue are offset by deeply negative profitability and continued cash burn. The earnings call adds moderate support due to strategic progress and ample liquidity, while the technical setup is weak (price below key moving averages) and valuation is pressured by losses (negative P/E) with no dividend support.
Positive Factors
Balance Sheet Strength
A very large cash and investment balance with almost no debt gives the company durable financial flexibility to fund R&D, fab buildouts, and M&A without near-term refinancing risk. This liquidity underpins multi-quarter execution even as operations burn cash.
Negative Factors
Sustained Cash Burn
Operating and free cash flow remain deeply negative relative to current revenue, implying continued reliance on the balance sheet or external financing to fund growth. Persisting cash burn reduces flexibility and raises dilution or capex funding risk over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
A very large cash and investment balance with almost no debt gives the company durable financial flexibility to fund R&D, fab buildouts, and M&A without near-term refinancing risk. This liquidity underpins multi-quarter execution even as operations burn cash.
Read all positive factors
Quantum Computing (QUBT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.97B
Dividend YieldN/A
Average Volume (3M)16.96M
Price to Earnings (P/E)―
Beta (1Y)2.17
Revenue Growth1025.71%
EPS Growth42.03%
CountryUS
Employees41
SectorTechnology
Sector Strength88
IndustryComputer Hardware
Share Statistics
EPS (TTM)-0.27
Shares Outstanding225,534,990
10 Day Avg. Volume11,417,672
30 Day Avg. Volume16,964,529
Financial Highlights & Ratios
PEG Ratio1.10
Price to Book (P/B)1.06
Price to Sales (P/S)2474.62
P/FCF Ratio-45.63
Enterprise Value/Market Cap0.55
Enterprise Value/Revenue249.09
Enterprise Value/Gross Profit-1.62K
Enterprise Value/Ebitda-32.38
Forecast
1Y Price Target
$16.00Price Target Upside67.19% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.16
Revenue Forecast (FY)$22.32M
Quantum Computing Business Overview & Revenue Model
Company Description
Quantum Computing, Inc. (QUBT) is a Virginia-based technology firm dedicated to developing advanced software solutions for quantum computing. A cornerstone of their offerings is Qatalyst, a quantum application accelerator designed to empower devel...
How the Company Makes Money
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Quantum Computing Earnings Call Summary
Earnings Call Date:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call reflects strong strategic momentum—completion of two acquisitions that materially expand photonics, manufacturing, and quantum communications capabilities; a first commercial data-center Dirac deployment; internal progress on next-generation products; and a very strong balance sheet with $1.4B of cash and investments. Near-term results are impacted by large integration and ramp costs (operating expenses, one-time M&A fees), underutilized fabrication capacity depressing margins, and an engineering milestone to reach Q>10M for gate-based photonics. Given ample liquidity and clear strategic advances that outweigh current expense-driven near-term losses, the overall tone is constructive.Positive Updates
Substantial Revenue Increase Driven by Acquisitions
Q1 revenue totaled $3.7M versus $39K in the year-ago quarter, an increase of ~9,387% year-over-year, driven primarily by the Lumina Semiconductor (LSI) acquisition in February and NuCrypt in March. Excluding those acquisitions, organic revenue was $204K (primarily foundry deliveries and an R&D subcontract for NASA).
Negative Updates
Sharp Increase in Operating Expenses
Operating expenses rose to $19.8M in Q1 from $8.3M year-ago, an increase of ~138.6%, driven by expanded headcount (added ~100 people, up from ~75), higher R&D, product development, sales & marketing, and transaction-related costs.
Read all updates
Q1-2026 Updates
Positive
Negative
Substantial Revenue Increase Driven by Acquisitions
Q1 revenue totaled $3.7M versus $39K in the year-ago quarter, an increase of ~9,387% year-over-year, driven primarily by the Lumina Semiconductor (LSI) acquisition in February and NuCrypt in March. Excluding those acquisitions, organic revenue was $204K (primarily foundry deliveries and an R&D subcontract for NASA).
Read all positive updates
Company Guidance
Management's guidance emphasized investing in people and manufacturing to convert a growing pipeline into recurring revenue and to advance Fab Two while Fab One ramps small-batch production; key metrics cited: Q1 revenue $3.7M (prior-year $39K) with revenue excluding LSI/NuCrypt of $204K (foundry/foundry-related ≈ $120K and an R&D subcontract for NASA), operating expenses $19.8M (vs $8.3M), sales & marketing $1.6M (vs $0.7M), G&A $11.3M (including roughly $6M of M&A costs), net loss $4.1M or $0.02/share (vs 2025 net income $17M, $0.13/share, which included a $23.6M noncash gain), cash/cash equivalents/investments $1.4B (down from $1.5B), total assets and stockholders’ equity ~$1.6B, interest income $13.5M (vs $1.7M prior), contract backlog $16M, headcount near ~200 (added ~100 to a 75-person core), a targeted gross-margin range of ~20–30% as utilization improves, technology goals including raising microring Q from ~2M to >10M, and complementary IP (Freedom Photonics ~25 issued/pending patents) to support commercialization.Quantum Computing Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
78
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.33M | 682.00K | 373.00K | 358.00K | 136.00K | 0.00 |
| Gross Profit | -667.00K | 67.00K | 112.00K | 162.00K | 75.00K | 0.00 |
| EBITDA | -33.34M | -13.67M | -61.95M | -21.89M | -23.34M | -16.90M |
| Net Income | -39.71M | -18.67M | -68.54M | -27.02M | -25.98M | -27.90M |
Balance Sheet | ||||||
| Total Assets | 1.62B | 1.62B | 153.56M | 74.36M | 78.51M | 17.28M |
| Cash, Cash Equivalents and Short-Term Investments | 986.11M | 1.12B | 78.94M | 2.06M | 5.31M | 16.74M |
| Total Debt | 3.68M | 1.81M | 1.18M | 2.77M | 10.16M | 18.08K |
| Total Liabilities | 23.35M | 20.66M | 46.27M | 5.65M | 13.39M | 1.08M |
| Stockholders Equity | 1.60B | 1.60B | 107.29M | 68.70M | 65.12M | 16.20M |
Cash Flow | ||||||
| Free Cash Flow | -42.06M | -36.98M | -22.25M | -20.43M | -16.25M | -6.82M |
| Operating Cash Flow | -35.29M | -30.29M | -16.21M | -18.32M | -15.38M | -6.80M |
| Investing Cash Flow | -1.26B | -788.33M | -6.04M | -2.61M | -2.23M | -22.50K |
| Financing Cash Flow | 1.39B | 1.48B | 99.14M | 17.68M | 6.17M | 8.39M |
Quantum Computing Technical Analysis
Negative
9.57
Price Trends
10.19
Negative
9.03
Positive
11.33
Negative
Market Momentum
-0.38
Positive
44.97
Neutral
23.01
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 9.57 is below the 20-day moving average (MA) of 9.71, below the 50-day MA of 10.19, and below the 200-day MA of 11.33, indicating a bearish trend. The MACD of -0.38 indicates Positive momentum. The RSI at 44.97 is Neutral, neither overbought nor oversold. The STOCH value of 23.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for QUBT.
Quantum Computing Risk Analysis
Quantum Computing disclosed 47 risk factors in its most recent earnings report. Quantum Computing reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Quantum Computing Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | $5.62B | -24.10 | -43.94% | ― | 8.75% | -4.39% | |
53 Neutral | $1.97B | -33.31 | -3.55% | ― | 1025.71% | 42.03% | |
52 Neutral | $16.83B | 497.44 | 9.08% | ― | 334.58% | ― | |
51 Neutral | $7.65B | -18.40 | -44.05% | ― | -41.75% | -87.41% |
* Technology Sector Average
QUBT
Quantum Computing
8.66
-8.77
-50.32%
IONQ
IonQ
42.86
1.05
2.51%
QBTS
D-Wave Quantum
20.09
5.28
35.65%
RGTI
Rigetti Computing
16.54
4.36
35.80%
Quantum Computing Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
Quantum Computing Expands Authorized Share Capital for Growth
Positive
Jun 30, 2026
At its June 24, 2026 annual meeting, Quantum Computing Inc. shareholders approved amendments to the 2022 Equity and Incentive Plan, lifting the authorized shares under the plan from 20 million to 30 million and revising the evergreen provision to ...
Business Operations and StrategyM&A Transactions
Quantum Computing Closes NHanced Semiconductors Acquisition Deal
Positive
Jun 23, 2026
On June 22, 2026, Quantum Computing Inc. agreed to acquire all outstanding shares of NHanced Semiconductors, completing the transaction the same day for cash and stock valued at about $73.1 million, plus up to $72 million in performance-based earn...
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingProduct-Related Announcements
Quantum Computing Showcases Vertically Integrated Photonics Growth Strategy
Positive
May 18, 2026
Quantum Computing Inc. used its May 2026 investor presentation to highlight progress in building a vertically integrated photonics and quantum technology platform, including the acquisitions of Luminar Semiconductor and NuCrypt to bolster capabili...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.