Quantum Computing Inc. reported $9.5 million in third quarter revenue, a figure that exceeds the total revenue of $9.2 million generated during the first half of 2026. This growth stems directly from acquisitions of Luminar Semiconductors, Inc., NuCrypt, LLC and NHanced Semiconductors, Inc., which provide photonic components and quantum communications products for the aerospace, government and industrial markets.
“We’re starting to see those investments come together, and our focus is increasingly shifting from what we can build to what we can put to work for customers,” said Dr. Yuping Huang, Chief Executive Officer of QCi. The company concluded the quarter with approximately $1.3 billion in cash, positioning it for continued expansion.
The company’s broadened portfolio is a key element in its strategy to move beyond research and development toward practical quantum applications, QCi says. “For several years, we’ve been building the technology and capabilities to make quantum more practical and accessible,” said Dr. Gross profit totaled approximately $428 thousand in the third quarter, for a gross margin of 4.5%, as QCi focuses on increasing manufacturing use and improving operating efficiency. Operating expenses increased to $29.0 million, a substantial rise from the $10.5 million reported in the prior-year period, driven by expanded research and development, sales, and marketing initiatives.
Approximately $1.0 million of this increase is attributed to acquisition-related expenses, indicating the ongoing integration of the newly acquired businesses. Despite these increased expenses, QCi reported interest and other income totaling $13.0 million, a significant increase from $3.5 million in the third quarter of 2025, largely due to interest earned on its substantial cash and investment holdings. Contract backlog currently totals approximately $39.1 million as of September 30, 2026, representing the value of contracted work expected to be performed under existing agreements.
Beyond financial performance, QCi is actively encouraging collaborations to accelerate quantum adoption. 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.
QCi is also extending its reach into new markets, having entered a commercial agreement with INmune Bio to apply its Dirac quantum optimization technology to clinical and biomedical data, according to the company. This engagement marks QCi’s first commercial customer in the pharmaceutical and biotechnology sector, offering an opportunity to address complex, real-world challenges with its quantum technology.
“I’ve always believed that being early creates opportunity,” said Dr. Huang. “Execution is what makes that opportunity last.” The company’s net loss for the quarter was $15.1 million, or $0.07 per basic share, a figure that reflects the ongoing investment in research, development and integration of acquired businesses as QCi pursues its long-term vision of a commercially viable quantum future.
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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