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Can QUBT's Commercial Growth Focus Maintain Momentum in Q2
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Key Takeaways
QUBT enters Q2 with a $16 million backlog and focus on contract execution and new opportunities.
QUBT advanced Dirac to internal testing and expects Fab 1 to expand foundry sales through prototype chips.
QUBT targets Fab 2 progress as the foundation for large-scale commercial quantum hardware manufacturing.
Following the strategic acquisitions of Luminar Semiconductor and NuCrypt, Quantum Computing Inc. (QUBT - Free Report) or QCi entered the second quarter of 2026 with a focus on transitioning from a technology developer into a commercial quantum manufacturing company.
The company ended the first quarter with contract backlog of approximately $16 million and a strong cash position. In the second quarter, the company is expected to have focused on executing existing contracts while pursuing additional opportunities in both the commercial and government sectors.
QCi also expects meaningful progress on its next-generation Dirac optimization machine during the second quarter. Per latest update, the system has entered the internal testing phase, with engineers achieving encouraging technical results on a regular basis. This represents one of the most significant near-term product milestones.
The company's Fab 1 thin-film lithium niobate foundry in Arizona is expected to have continued ramping up its small-batch manufacturing capabilities throughout the second quarter. It expects the facility to have generated improved foundry revenues through prototype chip fabrication while refining manufacturing processes and improving production recipes. A key strategic objective for the second quarter was the advancements of Fab 2, the company's proposed large-scale manufacturing facility. Fab 2 is viewed as the foundation of QCi's long-term strategy to manufacture quantum hardware at commercial scale.
Peer Update
Rigetti (RGTI - Free Report) remains on track to deliver a 150-plus-qubit system with approximately 99.7% median two-qubit fidelity by the end of 2026, with its chiplet architecture serving as the foundation of its scaling strategy. Regitti’s technological roadmap is supported by its existing Fab 1 facility, which is believed to be sufficient to reach the quantum advantage milestone without near-term expansion. This reduces execution risk and underscores a capital-efficient, organically driven scaling strategy.
D-Wave Quantum Inc. (QBTS - Free Report) announced its forthcoming gate-model quantum computing simulator, which is expected to be the first of its kind designed for error-aware programming. QBTS continues to advance its annealing platform through Advantage2 and the Leap cloud service.
QUBT’s Share Price Performance
Over the past year, QCi’s shares have plunged 21.6% compared with the industry’s 4.6% decline.
Image Source: Zacks Investment Research
QUBT’s Expensive Valuation
QUBT currently trades at a forward 12-month price-to-sales (P/S) of 65.33X compared with the industry’s median of 4.72X.
Image Source: Zacks Investment Research
QUBT Stock Estimate Trend
Over the past 30 days, QCi’s loss per share estimate for 2026 has remained unchanged at 14 cents.
View the Zacks #1 Rank List
Image: Bigstock
Can QUBT's Commercial Growth Focus Maintain Momentum in Q2
Key Takeaways
Following the strategic acquisitions of Luminar Semiconductor and NuCrypt, Quantum Computing Inc. (QUBT - Free Report) or QCi entered the second quarter of 2026 with a focus on transitioning from a technology developer into a commercial quantum manufacturing company.
The company ended the first quarter with contract backlog of approximately $16 million and a strong cash position. In the second quarter, the company is expected to have focused on executing existing contracts while pursuing additional opportunities in both the commercial and government sectors.
QCi also expects meaningful progress on its next-generation Dirac optimization machine during the second quarter. Per latest update, the system has entered the internal testing phase, with engineers achieving encouraging technical results on a regular basis. This represents one of the most significant near-term product milestones.
The company's Fab 1 thin-film lithium niobate foundry in Arizona is expected to have continued ramping up its small-batch manufacturing capabilities throughout the second quarter. It expects the facility to have generated improved foundry revenues through prototype chip fabrication while refining manufacturing processes and improving production recipes. A key strategic objective for the second quarter was the advancements of Fab 2, the company's proposed large-scale manufacturing facility. Fab 2 is viewed as the foundation of QCi's long-term strategy to manufacture quantum hardware at commercial scale.
Peer Update
Rigetti (RGTI - Free Report) remains on track to deliver a 150-plus-qubit system with approximately 99.7% median two-qubit fidelity by the end of 2026, with its chiplet architecture serving as the foundation of its scaling strategy. Regitti’s technological roadmap is supported by its existing Fab 1 facility, which is believed to be sufficient to reach the quantum advantage milestone without near-term expansion. This reduces execution risk and underscores a capital-efficient, organically driven scaling strategy.
D-Wave Quantum Inc. (QBTS - Free Report) announced its forthcoming gate-model quantum computing simulator, which is expected to be the first of its kind designed for error-aware programming. QBTS continues to advance its annealing platform through Advantage2 and the Leap cloud service.
QUBT’s Share Price Performance
Over the past year, QCi’s shares have plunged 21.6% compared with the industry’s 4.6% decline.
Image Source: Zacks Investment Research
QUBT’s Expensive Valuation
QUBT currently trades at a forward 12-month price-to-sales (P/S) of 65.33X compared with the industry’s median of 4.72X.
Image Source: Zacks Investment Research
QUBT Stock Estimate Trend
Over the past 30 days, QCi’s loss per share estimate for 2026 has remained unchanged at 14 cents.
Image Source: Zacks Investment Research
QUBT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.