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QUBT's Q3 Earnings Meet Estimates, Revenues Surge Y/Y, Stock Up

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Key Takeaways

  • QUBT's Q3 loss matched estimates, while revenues jumped to $0.38M from $0.10M a year earlier.
  • QUBT saw gross margin rise to 33% as operating expenses and operating loss increased.
  • QUBT boosted liquidity with $500M raised in Q3 and $750M more after the quarter ended.

Quantum Computing Inc. (QUBT - Free Report) , or QCi, delivered a loss of 5 cents per share in the third quarter of 2025 compared with a loss of 6 cents in the year-ago period.  However, the metric came in line with the Zacks Consensus Estimate.

Revenues in the third quarter were $0.38 million, which surpassed the Zacks Consensus Estimate by 284%. The reported figure compared favorably with $0.10 million on a year-over-year basis.

Following the Nov. 14 announcement, QUBT shares rose 5.7%, closing at $10.60 on Friday.

QUBT’s Margin Performance

The company reported a third-quarter gross margin of 33% compared with 9% in the year-ago quarter.

Quantum Computing Inc. Price, Consensus and EPS Surprise

Quantum Computing Inc. Price, Consensus and EPS Surprise

Quantum Computing Inc. price-consensus-eps-surprise-chart | Quantum Computing Inc. Quote

Operating expenses totaled $10.5 million compared with $5.4 million in the third quarter of 2024. Within this, R&D expenses surged 100.9%, sales and marketing expenses rose 116.8%, and general and administrative expenses increased 84.3%. Loss from operations in the quarter reached $10.4 million compared with $5.4 million in the year-ago period.

QUBT’s Financial Position

As of the third quarter-end, the company had cash and cash equivalents of $352.4 million compared with $348.8 million in the second quarter. 

Cumulative net cash used in operating activities at the end of the third quarter was $19.3 million compared with $12.4 million in the year-ago period.

During the third quarter, QCi raised gross proceeds of $500 million through a private placement of common stock. Subsequent to the close of the quarter, it raised gross proceeds of $750 million through an additional private placement of common stock.

Our View on QUBT Stock

Quantum Computing ended the third quarter of 2025 with in-line earnings, while revenues topped estimates. The year-over-year revenue growth in the quarter was mainly due to increases in the number, size and level of effort performed on research and development services and custom hardware contracts. The company also started to recognize revenues for cloud-based access to the Dirac-3 quantum optimization system.

Some of the key operational highlights in the third quarter include achieving further commercial progress across its quantum AI and cybersecurity offerings. QCi announced a purchase order from a top-five U.S. bank for its quantum security solutions, the first U.S. commercial sale of its quantum cybersecurity solutions. In addition, it continues to advance discussions with commercial and academic partners while planning for Fab 2, a second, larger facility designed to support higher-volume production in the coming years.

QUBT’s Zacks Rank & Key Picks

Quantum Computing currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader Computer and Technology sector are Western Digital (WDC - Free Report) , Advanced Energy Industries (AEIS - Free Report) and NiCE (NICE - Free Report) .

Western Digital, currently sporting a Zacks Rank #1 (Strong Buy), reported a first-quarter fiscal 2026 EPS of $1.78, which beat the Zacks Consensus Estimate by 12%. Revenues of $2.82 billion surpassed the Zacks Consensus Estimate of $2.72 billion. You can see the complete list of today’s Zacks #1 Rank stocks here.

WDC has a long-term earnings growth rate of 22.7% compared with the industry’s 13.8% growth. The company outpaced earnings estimates in each of the trailing four quarters, with the average surprise being 9.18%.

Advanced Energy Industries, currently sporting a Zacks Rank #1, reported a third-quarter 2025 EPS of $1.74, which topped the Zacks Consensus Estimate by 18.37%. Revenues of $463.3 million surpassed the consensus mark by 5.14%.

AEIS has a long-term earnings growth rate of 27.9% compared with the industry’s 24.4% growth. The company’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 18.28%.

NiCE, carrying a Zacks Rank #2 (Buy) at present, posted third-quarter 2025 earnings of $3.18 per share, exceeding the Zacks Consensus Estimate by 0.32%. Revenues of $732 million outperformed the Zacks Consensus Estimate by 0.56%.

NICE has an earnings yield of 9.3% compared with the industry’s 2.8% yield. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 1.02%.

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