Quantum Computing Inc. reported $9.5 million in revenue for the third quarter of 2026, a figure that surpasses the company’s total revenue for the first half of the year. This growth follows acquisitions of photonics and semiconductor businesses, bolstering QCi’s development of quantum technology for aerospace, government and industrial sectors.
“We’re starting to see those investments come together,” said Dr. Yuping Huang, Chief Executive Officer of QCi, “and our focus is increasingly shifting from what we can build to what we can put to work for customers.” The company concluded the quarter with approximately $1.3 billion in cash and investments.
$9.5M Third-Quarter Revenue Surpasses First-Half 2026 Total
QCi generated $9.5 million in revenue. This growth stems from contributions made by recently acquired businesses, Luminar Semiconductors, NuCrypt and NHanced Semiconductors, which provide photonic components, quantum communications products and advanced packaging services. These acquisitions support both immediate commercial sales to the aerospace, government and industrial sectors and the long-term development of QCi’s quantum technology roadmap. The company’s financial performance indicates a shift toward realizing revenue from integrated capabilities rather than solely focusing on research and development.
Gross profit for the quarter reached approximately $428 thousand, representing a gross margin of 4.5 percent, as QCi prioritizes increased manufacturing use and improved operational efficiency to scale its commercial operations. Total operating expenses rose to $29.0 million, a substantial increase from the $10.5 million reported in the prior-year period, reflecting expanded investment in personnel, research, sales, and marketing activities.
This increase is primarily attributable to interest earned on QCi’s substantial cash and investment holdings, which reached approximately $1.3 billion at the end of the quarter. This robust cash position, comprising $174.3 million in cash equivalents and $1.1 billion in short- and long-term investments, provides QCi with financial flexibility to pursue its strategic objectives and navigate the capital-intensive nature of quantum technology development. Despite the revenue gains, QCi reported a net loss of $15.1 million, or $0.07 per basic share, for the third quarter of 2026.
This loss reflects the ongoing investments in research and development, sales and marketing and integration of the acquired businesses, which are expected to drive future revenue growth. The integration of Luminar Semiconductors, NuCrypt, and NHanced Semiconductors is central to QCi’s strategy, providing established products, services and customer relationships in existing commercial markets.
These capabilities are not only generating revenue but also supporting the development of QCi’s proprietary quantum technologies, creating a cycle of innovation and commercialization, the company says. The company is actively focused on expanding these customer relationships and improving the efficiency of its manufacturing operations as it scales the business. Beyond internal growth, QCi is also pursuing external collaborations to accelerate the adoption of quantum technologies.
In September, the company entered into a framework agreement with Hamad Bin Khalifa University in Qatar to support quantum education, research, and co-marketing initiatives. This initiative demonstrates QCi’s commitment to encouraging a broader ecosystem of quantum expertise and driving innovation through partnerships, according to the company. QCi secured its first commercial customer in the pharmaceutical and biotechnology market through a collaboration with INmune Bio.
The agreement will use QCi’s Dirac quantum optimization technology alongside artificial intelligence and conventional analytics to analyze clinical and biomedical data, exploring potential applications for INmune Bio’s investigational Alzheimer’s treatment. Dr. QCi’s financial results for the third quarter of 2026 demonstrate a commitment to both innovation and commercialization, positioning the company for continued growth in the emerging quantum landscape.
For several years, we’ve been building the technology and capabilities to make quantum more practical and accessible.
Dr. Yuping Huang, Chief Executive Officer of QCi
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