Quarterly ResultMay 11, 2026, 04:13 PM
Quantum Computing Q1 Revenue $3.7M; Completes 2 Acquisitions
AI Summary
Quantum Computing Inc. reported a significant increase in first-quarter 2026 revenue to $3.7 million, up from $39 thousand in Q1 2025, primarily driven by two strategic acquisitions. The company completed the acquisitions of Luminar Semiconductor, Inc. for $110 million and NuCrypt, LLC for $5 million, enhancing its product roadmap and expanding its quantum and photonics solutions. Despite the revenue growth and strategic advancements, the company reported a net loss of $4.1 million, compared to net income of $17.0 million in the prior-year period, largely due to higher operating expenses and a decrease in non-cash gain on derivative liability.
Key Highlights
- Acquired Luminar Semiconductor, Inc. for $110 million in an all-cash transaction.
- Acquired NuCrypt, LLC for $5 million, expanding quantum communications solutions.
- Q1 2026 revenue increased to $3.7 million from $39 thousand in Q1 2025.
- Operating expenses rose 139% to $19.8 million from $8.3 million in Q1 2025.
- Reported a net loss of $4.1 million, or $0.02 per basic share, in Q1 2026.
- Ended Q1 2026 with $1.4 billion in cash, cash equivalents, and investments.
- Contract backlog stood at approximately $16 million as of March 31, 2026.
- Placed a Dirac-3 quantum optimization machine on Quantum Corridor's network.