QUBTNasdaqServices-Prepackaged SoftwareUS GAAP · USD

Quantum Computing Inc.

Quantum Computing Inc. is a U.S.-based development-stage technology company focused on photonics-based quantum and quantum-adjacent systems. Its business includes quantum computing hardware and software access tools, quantum networking and authentication, sensing and imaging products, and foundry services for thin-film lithium niobate optical chips.

Kysy yhtiöstä
Liikevaihto0,7milj. USD
+82,8 %v/v
Liikevoitto (EBIT)−51,1milj. USD
−96,9 %v/v
EBIT-marginaali−7 489,3%
−535,7 %-yks.v/v
Nettotulos−18,7milj. USD
+72,8 %v/v
Vapaa kassavirta−37,0milj. USD
−66,2 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−60−40−20020milj. USD2020: EBIT −17 milj. USD20202021: EBIT −17 milj. USD20212022: 0,14 milj. USD2022: EBIT −29 milj. USD20222023: 0,36 milj. USD2023: EBIT −27 milj. USD20232024: 0,37 milj. USD2024: EBIT −26 milj. USD20242025: 0,68 milj. USD2025: EBIT −51 milj. USD20250,68−51
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Quantum computing systems30 %

Hardware and cloud-access offerings for quantum optimization and related computing use cases.

Professional services and R&D35 %

Customer proof-of-concept work, bespoke development, and research services.

Custom hardware products20 %

Off-the-shelf and custom-built photonics devices and quantum networking hardware.

Foundry services10 %

Manufacturing services for thin-film lithium niobate optical chips.

Quantum cybersecurity and sensing5 %

Quantum authentication, remote sensing, imaging, and vibrometry applications.

Tuotteet

Raportoitu · osuus liikevaihdosta
54,0%46,0%FY2025100 %
  • Services54,0 %
  • Products46,0 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

QCi sells to commercial and government customers that are testing quantum and photonics solutions through multi-month contracts. Buyers typically start with proof-of-concept work, R&D services, or custom hardware before adopting broader deployments. The company also serves customers interested in quantum cybersecurity, sensing, and optimization applications where room-temperature, low-power systems may be attractive.

Commercial proof-of-concept customers

Companies that buy exploratory R&D services and custom hardware to test quantum use cases before scaling.

Government and public-sector customers

Agencies and related buyers that evaluate quantum networking, cybersecurity, and sensing applications.

Quantum optimization users

Customers accessing Dirac-3 and related optimization capabilities through cloud-based services.

Foundry and photonics customers

Customers that need TFLN optical chip manufacturing and related photonics components.

Sensing and imaging customers

Buyers of LiDAR, vibrometry, and remote sensing products for specialized technical applications.

Strategia

QCi is building a portfolio of photonics-based products that can be sold as hardware, cloud access, and services across quantum computing, sensing, and cybersecurity. Its strategy centers on proving practical use cases, expanding customer awareness, and converting exploratory engagements into repeat product and service revenue.

Commercialize photonics-based quantum productsLyhyt aikaväli

The company needs repeatable products to move beyond bespoke contracts and scale revenue.

Expand cloud and software access modelsKeskipitkä aikaväli

Cloud delivery can lower adoption barriers and broaden the customer base for quantum applications.

Build foundry and manufacturing capabilityKeskipitkä aikaväli

Production capacity and supply-chain control are important for scaling hardware and chip offerings.

Increase market education and customer awarenessLyhyt aikaväli

Quantum adoption is still early, so customer understanding is critical to converting interest into sales.

Maantiede

2025

QCi is headquartered in the United States and its reported customer activity is centered on U.S. commercial and government buyers. The company also references global competition and international quantum research activity, but the disclosed revenue base in the excerpts is not broken out by country. Its manufacturing and development footprint includes photonics and chip-related operations in the U.S., including foundry-related capacity.

USA87 %
Europe9,5 %
Asia3,7 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

QCi faces the risks typical of an early-stage quantum company: uncertain commercial adoption, rapid technology change, and intense competition from larger incumbents and well-funded peers. Its hardware and software must remain compatible with evolving industry standards, while supply-chain dependence, cybersecurity exposure, and valuation judgments add operational and reporting risk.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Uncertain commercial adoption of quantum products1Technology and standards mismatch2Intense competition3Supplier concentration and component availability4Cybersecurity and data integrity5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Uncertain commercial adoption of quantum productsVaikutus: KorkeaTodennäköisyys: Korkea

    Customers are still testing the technology and may delay or avoid broader deployment.

    Kohdistuu: Revenue growth and customer conversion

  2. Technology and standards mismatchVaikutus: KorkeaTodennäköisyys: Kohtalainen

    If competing software or hardware standards dominate, QCi's platform could become less usable.

    Kohdistuu: Hardware and software ecosystem compatibility

  3. Intense competitionVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The market includes large technology companies, pure-play quantum firms, and state-backed research efforts.

    KohdistuuPricingTalentCustomer acquisition
  4. Supplier concentration and component availabilityVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Some products rely on third-party components with limited qualified suppliers.

    Kohdistuu: Manufacturing schedules and delivery timing

  5. Cybersecurity and data integrityVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    A breach or data loss could create litigation, liability, and reputational harm.

    Kohdistuu: Customer trust and legal exposure

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition across mixed contract types

Hardware sales, R&D services, and cloud access may be recognized at different points or over time.

Vaikutus: Affects quarterly revenue timing and comparability

Stock-based compensation valuation

Expense depends on subjective inputs such as volatility, expected life, and risk-free rates.

Vaikutus: Can materially change operating expense

Derivative and warrant liabilities

Fair-value remeasurement can create non-cash gains or losses.

Vaikutus: Can add volatility to reported earnings

Intangible asset valuation and impairment

Acquired intangibles from the QPhoton merger require useful-life and impairment judgments.

Vaikutus: Can affect amortization and impairment charges

Deferred tax asset valuation allowances

Future tax benefits depend on expectations of taxable income.

Vaikutus: Can materially affect tax expense and balance sheet values

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Q/C Technologies, Inc

QCLS · In Vitro & In Vivo Diagnostic Substances

Qnity Electronics, Inc.

Q · Semiconductors & Related Devices

Quantum Corporation

QMCO · Computer Storage Devices

Quantum-Si Inc

QSI · Measuring & Controlling Devices, NEC

IonQ, Inc.

IONQ · Services-Computer Integrated Systems Design

QUALCOMM Incorporated

QCOM · Radio & Tv Broadcasting & Communications Equipment

Päivitetty: 24.9.2026