Quantum Computing Inc. reports 9,000% revenue jump as quantum stocks move in tandem
NEW YORK, Aug. 21. Quantum Computing Inc. (QUBT) posted second-quarter revenue of $5.6 million, a gain of more than 9,000% from the $61,000 it reported a year earlier, according to an earnings release filed with the SEC. Shares traded near $9 on Friday, part of a session that pushed six other quantum computing stocks higher at the same time, according to a Seeking Alpha report.
Key takeaways
- Quantum Computing Inc. (QUBT) reported second-quarter revenue of $5.6 million, up more than 9,000% from $61,000 a year earlier.
- QCi's net loss narrowed to $11.8 million from $36.5 million, mainly due to a smaller paper loss on warrant derivatives rather than core-business profit.
- QCi ended the quarter with a $42.5 million order backlog and $1.3 billion in cash, and acquired NHanced Semiconductors to add a second chip fabrication facility.
- Six other quantum stocks—D-Wave, Rigetti, IonQ, Infleqtion, IQM, and IBM—all rose the same morning, though for company-specific reasons.
- Infleqtion amended its Q2 revenue from $12.6 million (116% gain) to $13.5 million (157% increase), a change most stock-moving coverage missed.
NEW YORK, Aug. 21. Quantum Computing Inc. (QUBT) posted second-quarter revenue of $5.6 million, a gain of more than 9,000% from the $61,000 it reported a year earlier, according to an earnings release filed with the SEC. Shares traded near $9 on Friday, part of a session that pushed six other quantum computing stocks higher at the same time, according to a Seeking Alpha report.
The revenue came from photonics product sales to government, educational, and commercial customers, the company said. Quarter over quarter, revenue grew 51% from the $3.7 million QCi reported in the first quarter.
Most of the improvement in the company's bottom line traced to a smaller paper loss on warrant derivatives, the filing shows, rather than to the core business turning a profit. Net loss narrowed to $11.8 million from $36.5 million a year earlier. QCi ended the quarter with a $42.5 million order backlog and $1.3 billion in cash.
The quarter also included QCi's acquisition of NHanced Semiconductors, which added a second chip fabrication facility and expanded QCi's U.S. manufacturing footprint, the earnings release said. Operating expenses rose 114% year over year to $21.8 million, partly from acquisition-related costs.
The sector basket trade
D-Wave Quantum (QBTS), Rigetti Computing (RGTI), IonQ (IONQ), Infleqtion (INFQ), IQM Quantum Computers (IQMX), and IBM (IBM) all advanced the same morning. The reasons differed by company.
BMO Capital Markets initiated D-Wave with an Outperform rating and a $35 price target, implying roughly 85% upside, according to a BMO note covered by The Motley Fool. D-Wave gained as much as 7%. Rigetti climbed 9.6%, even though BMO's note never mentioned Rigetti, The Motley Fool reported. Infleqtion added 9%. IQM popped 7%.
IBM advanced 2% two days after the company said it had successfully cooled and linked two cryogenic modules, a step toward the fault-tolerant quantum computer IBM has targeted for 2029, according to an IBM press release. IonQ rose 7.5%. The company also signed a non-binding agreement to become a listed cloud provider on a Canadian government quantum platform, a deal that carries no guarantee of revenue, according to TipRanks.
Infleqtion's numbers carried a revision. The company reported second-quarter revenue of $12.6 million, a 116% gain, on Aug. 12, then filed an amendment five days later raising that figure to $13.5 million, a 157% increase, the amended SEC filing shows. Most coverage that moved Infleqtion's stock this week did not catch the change.
IQM has told investors to expect most of its 2026 revenue in the fourth quarter, tied to system deliveries inside its EUR 102 million order backlog. D-Wave has guided to two to three full system sales a year starting in 2027.