What Quantum Computing (QUBT) Said on Its Q3 Earnings Call

Key Points

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• Revenue reached a record $9.5 million in Q3 2026, up from $384,000 a year earlier, driven mainly by photonics products. The company reported a $15.1 million net loss as operating expenses climbed to $29 million amid increased hiring, research and commercialization spending.

• Quantum Computing ended September with $174.3 million in cash and cash equivalents, $1.1 billion in investments and $916.9 million in working capital. Its $39.1 million backlog is expected mostly to convert to revenue over the next 12 months, though order timing remains unpredictable.

• The company expects to ship its first Dirac-3S optimization system in Q4 and plans to invest approximately $70 million to $80 million in NHanced Fab 2, with much of the spending expected by March 2027. Management is also targeting a demonstration of heterogeneously integrated circuits within 12 to 18 months.

Quantum Computing (NASDAQ:QUBT) reported record third-quarter 2026 revenue of $9.5 million, driven primarily by its expanded photonics business, while its net loss widened as the company increased spending on personnel, research and commercialization.