10-Q · May 11, 2026
Quantum Computing Inc. (QCI) reported a significant increase in revenue for Q1 2026 at $3.7 million, sharply up from $39,000 in Q1 2025, driven largely by the LSI and NuCrypt acquisitions. Operating expenses surged to…
Earnings analysis · 10-Q
QUBT earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
The supplied 10-Q text does not include the current-quarter income statement, balance sheet or cash-flow amounts, so revenue, margins, EPS, free cash flow and segment trends cannot be quantified from the filing excerpt.…
Read full summary
The supplied 10-Q text does not include the current-quarter income statement, balance sheet or cash-flow amounts, so revenue, margins, EPS, free cash flow and segment trends cannot be quantified from the filing excerpt. The most material disclosure is that controls remained ineffective as of June 30, 2026 because of multiple material weaknesses, although management reported no material misstatement in the unaudited quarterly financial statements. Newly emphasized risks include integration of 3 acquisitions and facility scaling, supplier concentration, additional financing needs and generative-AI exposure.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Accounting team strengthened
Management hired 5 full-time accounting professionals during 2025, including a Controller and a Manager of Technical Accounting, to strengthen financial-reporting oversight and expertise.
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No reported material misstatement
The company stated that the identified control weaknesses did not result in a material misstatement of the unaudited condensed consolidated financial statements for the quarter ended June 30, 2026.
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Remediation plan established
Management plans to further document controls, address IT general-control gaps, and implement risk-assessment processes during 2026, with remediation targeted by the end of 2026.
What to watch
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Material weaknesses remain unresolved
As of June 30, 2026, management concluded that disclosure controls and procedures were not effective because of material weaknesses in financial reporting controls. The weaknesses include inadequate segregation of duties, risk-assessment deficiencies, and ineffective IT general controls.
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Acquisition and capacity execution risk
The company identifies integration and scaling risks involving 3 acquisitions—LSI, NuCrypt and NHanced—and its Arizona thin-film lithium niobate facility and planned FAB 2. Delays or added costs could constrain shipments, compress margins and reduce revenue and cash flows.
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Potential need for additional capital
The company states that it will require significant cash for research, development, equipment and facilities, and may need additional financing sooner than planned. Financing could be unavailable or dilutive, while failure to raise funds could delay or substantially reduce development efforts.
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Single-source supplier exposure
The company relies on very few qualified suppliers for certain photonic integrated circuits and related III-V components, including single-source situations. Supplier disruption could cause shortages, price increases, shipment delays and higher cost of revenue.
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Generative AI legal and security risk
The company newly identifies risks from using generative AI tools, including security vulnerabilities, data leakage, intellectual-property claims and potential loss of copyright or patent protection for AI-generated materials.
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Pending securities litigation
The company faces a securities class action filed on February 25, 2025, and multiple derivative actions. The company cannot estimate a potential loss range, and an unfavorable outcome could materially affect financial condition, results of operations and cash flows.
Management's outlook
No quantitative revenue or EPS guidance was provided in the supplied 10-Q text. Management stated that remediation of material weaknesses is aimed for completion by the end of 2026, subject to successful implementation and testing.
Earlier filings 4
10-K · March 2, 2026
Quantum Computing Inc. (QCi) positions itself as a vertically integrated photonics and quantum optics company focused on room-temperature, low-power Entropy Quantum Computers (EQC), TFLN optical chips and related…
10-Q · May 15, 2025
Quantum Computing Inc. reported consolidated revenue of $39,000 for the three months ended March 31, 2025 (up from $27,000 in Q1 2024) and a GAAP net income of $16,982 driven primarily by a $23,630 change in fair value…
10-Q · August 14, 2023
Quantum Computing Inc. (QUBT) reported Q2 revenue of $112,190, up from $65,484 in Q2 2022, and reduced net loss for the quarter to $(4,642,448) from $(5,104,576) year-over-year. Cash improved to $7,196,795 (up…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.