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Quantum Computing Inc Financials

QUBT
FY2025 annual
Revenue $682K +82.8% YoY
Net Income -$18.7M +72.8% YoY
EPS (Diluted) -$0.11 YoY not available
Free Cash Flow -$37.0M -66.2% YoY
Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Quantum Computing Inc (QUBT) reported $682K in revenue for fiscal year 2025, up 82.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI QUBT FY2025

Quantum Computing is operating as a cash-rich, equity-funded development company whose balance sheet is far ahead of its revenue base.

The headline improvement in net loss to $18.7M from $68.5M does not line up with the core business. Operating cash burn widened to $30.3M while revenue was only $682K, so the better accounting result likely came from items outside day-to-day operations rather than a stronger operating engine.

FY2025 still looks more like a capital-funded R&D platform than a self-funded operation: financing brought in $1.48B and cash ended at $737.9M. Share count rose to 224.2M from 77.5M since FY2023, which shows that balance-sheet strength was built mainly through new equity rather than borrowing.

This is not a factory-heavy model: capital spending was $6.7M, far below combined R&D and SG&A of $47.7M. Gross profit was just $67K on $682K of revenue, making the business expense-intensive rather than asset-intensive and still far from covering its research and corporate build-out with customer activity.

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Financial Health Signals

Financial health score not available

Quantum Computing Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Altman Z-Score Safe
59.12

Quantum Computing Inc scores 59.12, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($2.0B) relative to total liabilities ($20.7M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
2/8

Quantum Computing Inc passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing
N/A

Quantum Computing Inc reported a net loss of $18.7M while operations used $30.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk
N/A

Quantum Computing Inc reported an operating loss of $51.1M against $65K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue
$682K
YoY+82.8%

Quantum Computing Inc generated $682K in revenue in fiscal year 2025. This represents an increase of 82.8% from the prior year.

EBITDA
-$46.7M
YoY-110.8%

Quantum Computing Inc's EBITDA was -$46.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 110.8% from the prior year.

Net Income
-$18.7M
YoY+72.8%

Quantum Computing Inc reported -$18.7M in net income in fiscal year 2025. This represents an increase of 72.8% from the prior year.

EPS (Diluted)
-$0.11

Quantum Computing Inc earned -$0.11 per diluted share (EPS) in fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow
-$37.0M
YoY-66.2%

Quantum Computing Inc recorded an outflow of $37.0M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 66.2% from the prior year.

Cash & Debt
$737.9M
YoY+834.7%
5Y CAGR+117.4%

Quantum Computing Inc held $737.9M in cash as of fiscal year 2025; long-term debt is not reported for that period.

Shares Outstanding
224M

Quantum Computing Inc had 224M shares outstanding in fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin
9.8%
YoY-20.2pp

Quantum Computing Inc's gross margin was 9.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 20.2 percentage points from the prior year.

Return on Equity
-1.2%
YoY+62.7pp
5Y CAGR+168.5pp

Quantum Computing Inc's ROE was -1.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 62.7 percentage points from the prior year.

Operating Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

R&D Spending
$20.5M
YoY+80.9%
5Y CAGR+67.8%

Quantum Computing Inc invested $20.5M in research and development in fiscal year 2025. This represents an increase of 80.9% from the prior year.

Capital Expenditures
$6.7M
YoY+10.8%
5Y CAGR+254.4%

Quantum Computing Inc invested $6.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 10.8% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

QUBT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

QUBT annual income statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17
Revenue$9.8M$682K+82.8%$373K+4.2%$358K+163.2%$136KN/AN/AN/AN/AN/A
Cost of Revenue$11.7M$615K+135.6%$261K+33.2%$196K+221.3%$61KN/AN/AN/AN/AN/A
Gross Profit-$1.9M$67K-40.2%$112K-30.9%$162K+116.0%$75KN/AN/AN/AN/AN/A
R&D Expenses$26.9M$20.5M+80.9%$11.3M+27.3%$8.9M+70.5%$5.2M+101.7%$2.6M+68.0%$1.5MN/A$251KN/A
SG&A Expenses$41.8M$27.2M+111.0%$12.9M-17.8%$15.7M-26.6%$21.4M+1257.6%$1.6M-27.0%$2.2M+336.2%$495K-4.8%$520KN/A
Operating Income-$76.2M-$51.1M-96.9%-$25.9M+1.2%-$26.2M+8.4%-$28.6M-67.2%-$17.1M+1.2%-$17.3MN/A-$5.8M-3213.7%-$175K
Interest Expense$132K$65K-97.4%$2.5M+55.8%$1.6M+107.5%$772KN/A$227K+49.9%$151K+73.2%$87KN/A
Net Income-$15.0M-$18.7M+72.8%-$68.5M-145.8%-$27.9M+27.8%-$38.6M-38.3%-$27.9M-12.8%-$24.7MN/AN/A-$175K
EPS (Diluted)-$0.11-$0.73-73.8%-$0.42+42.5%-$0.73-$0.96N/AN/AN/AN/A

Not reported in any period shown, so not listed: Income Tax.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

QUBT Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

QUBT annual balance sheet
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17
Total Assets$1.6B+954.3%$153.6M+106.5%$74.4M-5.3%$78.5M+354.2%$17.3M+13.2%$15.3M+10199.2%$148K-91.8%$1.8M$0
Current Assets$1.1B+1332.4%$79.2M+2880.1%$2.7M-51.3%$5.5M-68.4%$17.2MN/AN/AN/AN/A
Cash & Equivalents$737.9M+834.7%$78.9M+3734.1%$2.1M-61.2%$5.3M-68.3%$16.7M+10.1%$15.2M+14931.0%$101K-94.3%$1.8MN/A
Inventory$352K+1855.6%$18K-75.3%$73KN/AN/AN/AN/AN/AN/A
Accounts Receivable$519K+1822.2%$27K-58.5%$65K+400.0%$13KN/AN/AN/AN/AN/A
Goodwill$55.6M0.0%$55.6M0.0%$55.6M0.0%$55.6MN/AN/AN/AN/AN/A
Total Liabilities$20.7M-55.4%$46.3M+718.7%$5.7M-57.8%$13.4M+1136.9%$1.1M+56.1%$693K-76.6%$3.0M-10.7%$3.3M+220840.1%$2K
Current Liabilities$11.1M+142.9%$4.6M-5.3%$4.8M+4.8%$4.6M+324.4%$1.1MN/AN/AN/AN/A
Long-Term DebtN/AN/AN/A$7.9MN/AN/AN/AN/AN/A
Total Equity$1.6B+1389.7%$107.3M+56.2%$68.7M+5.5%$65.1M+333.5%$15.0M+3.1%$14.6M+618.3%-$2.8M-85.4%-$1.5M-101029.7%-$2K
Retained Earnings-$219.2M-9.3%-$200.5M-51.9%-$131.9M-26.8%-$104.1M-27.8%-$81.4M-52.2%-$53.5M-86.0%-$28.8M-41.1%-$20.4M-106.4%-$9.9M

QUBT Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

QUBT annual cash flow statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17
Operating Cash Flow-$43.1M-$30.3M-86.9%-$16.2M+11.5%-$18.3M-19.1%-$15.4M-125.4%-$6.8M+40.9%-$11.5MN/A-$2.4MN/A
Capital Expenditures$8.4M$6.7M+10.8%$6.0M+185.8%$2.1M+142.8%$870K+4386.6%$19K+62.0%$12K-43.9%$21K+204.2%$7KN/A
Free Cash Flow-$51.5M-$37.0M-66.2%-$22.2M-8.9%-$20.4M-25.7%-$16.2M-137.5%-$6.8M+40.8%-$11.6MN/A-$2.4MN/A
Investing Cash Flow-$1.3B-$788.3M-12960.4%-$6.0M-131.1%-$2.6M-17.3%-$2.2M-9793.3%-$23K-87.9%-$12K+43.9%-$21K-204.2%-$7KN/A
Financing Cash Flow$1.2B$1.5B+1390.4%$99.1M+460.8%$17.7M+186.4%$6.2M-26.4%$8.4M-68.5%$26.6M+4348.4%$599K-85.5%$4.1MN/A
Dividends PaidN/AN/A$215K-75.1%$865K+9.9%$787KN/AN/AN/AN/AN/A

Not reported in any period shown, so not listed: Share Buybacks.

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

QUBT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

QUBT annual financial ratios
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17
Gross Margin9.8%-20.2pp30.0%-15.2pp45.3%-9.9pp55.1%N/AN/AN/AN/AN/A
Operating Margin-7489.3%-6953.6%-7330.5%-21062.5%N/AN/AN/AN/AN/A
Net Margin-2738.1%-18375.9%-7788.5%-28377.2%N/AN/AN/AN/AN/A
Return on Equity-1.2%+62.7pp-63.9%-23.3pp-40.6%+18.7pp-59.3%+126.4pp-185.7%-16.0pp-169.7%N/AN/AN/A
Return on Assets-1.1%+43.5pp-44.6%-7.1pp-37.5%+11.7pp-49.2%+112.3pp-161.4%+0.6pp-162.0%N/AN/AN/A
Current Ratio102.38+85.0x17.36+16.8x0.55-0.6x1.19-14.7x15.91N/AN/AN/AN/A
Debt-to-Equity0.01-0.4x0.43+0.3x0.080.0x0.120.0x0.070.0x0.05N/AN/AN/A
FCF Margin-5422.9%-5964.9%-5705.9%-11947.1%N/AN/AN/AN/AN/A

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

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Frequently Asked Questions

What is Quantum Computing Inc's annual revenue?

Quantum Computing Inc (QUBT) reported $682K in total revenue for fiscal year 2025. This represents a 82.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Quantum Computing Inc's revenue growing?

Quantum Computing Inc (QUBT) revenue grew by 82.8% year-over-year, from $373K to $682K in fiscal year 2025.

Is Quantum Computing Inc profitable?

No, Quantum Computing Inc (QUBT) reported a net income of -$18.7M in fiscal year 2025.

Quantum Computing Inc (QUBT) reported diluted earnings per share of -$0.11 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Quantum Computing Inc (QUBT) had EBITDA of -$46.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Quantum Computing Inc (QUBT) had a gross margin of 9.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Quantum Computing Inc (QUBT) has a return on equity of -1.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Quantum Computing Inc (QUBT) recorded an outflow of $37.0M in free cash flow during fiscal year 2025. This represents a -66.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Quantum Computing Inc (QUBT) recorded an outflow of $30.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

Quantum Computing Inc (QUBT) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Quantum Computing Inc (QUBT) invested $6.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Quantum Computing Inc (QUBT) invested $20.5M in research and development during fiscal year 2025.

Quantum Computing Inc (QUBT) had 224M shares outstanding as of fiscal year 2025.

Quantum Computing Inc (QUBT) had a current ratio of 102.38 as of fiscal year 2025, which is generally considered healthy.

Quantum Computing Inc (QUBT) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Quantum Computing Inc (QUBT) had a return on assets of -1.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Quantum Computing Inc (QUBT) had $737.9M in cash against an annual operating cash burn of $30.3M. This gives an estimated cash runway of approximately 292 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Quantum Computing Inc (QUBT) has an Altman Z-Score of 59.12, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Quantum Computing Inc (QUBT) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Quantum Computing Inc (QUBT) reported a net loss of $18.7M while operations used $30.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Quantum Computing Inc (QUBT) reported an operating loss of $51.1M against $65K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

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