Quantum Computing adds Luminar and NuCrypt as cash totals $1.4B - Stock Titan

Quantum Computing Inc. Reports First Quarter 2026 Financial Results Rhea-AI Impact (High) Rhea-AI Sentiment (Neutral) Tags earnings Rhea-AI Summary Quantum Computing (Nasdaq: QUBT) reported first quarter 2026 revenue of $3.7 million, up from $39 thousand in Q1 2025, mainly from the Luminar Semiconductor and NuCrypt acquisitions. QCi recorded a net loss of $4.1 million ($0.02 per share), with operating expenses of $19.8 million. Cash, cash equivalents and investments totaled $1.4 billion, with total assets of $1.6 billion and contract backlog of about $16 million. QCi closed the $110 million Luminar and $5 million NuCrypt acquisitions, advanced its photonic chip foundry, and placed a Dirac-3 quantum optimization machine on the Quantum Corridor network. AI-generated analysis. Not financial advice. Positive Q1 2026 revenue grew to $3.7 million from $39 thousand in Q1 2025 Ended March 31, 2026 with $1.4 billion in cash, equivalents and investments Closed Luminar Semiconductor acquisition in an all-cash deal valued at $110 million Completed NuCrypt acquisition in a transaction valued at $5 million Reported contract backlog of approximately $16 million as of March 31, 2026 Fab 1 began small-batch manufacturing and is generating early revenue Negative Operating expenses rose to $19.8 million, up 139% from $8.3 million year over year Q1 2026 net loss of $4.1 million versus prior-year net income of $17.0 million Cash, cash equivalents and investments declined from $1.5 billion at year-end 2025 to $1.4 billion Total liabilities increased by $2.7 million to $23.4 million at March 31, 2026 News Market Reaction – QUBT +15.72% 2.5x vol 105 alerts +15.72% NEWS EFFECT +43.5% PEAK IN 23 HR 47 MIN +$442M VALUATION IMPACT $3.26B MARKET CAP 2.5x REL. VOLUME On the day this news was published, QUBT gained 15.72%, reflecting a significant positive market reaction. Argus tracked a peak move of +43.5% during that session. Our momentum scanner triggered 105 alerts that day, indicating very high trading interest and price volatility. This price movement added approximately $442M to the company's valuation, bringing the market cap to $3.26B at that time. Trading volume was elevated at 2.5x the daily average, suggesting notable buying interest. Data tracked by StockTitan Argus on the day of publication. Key Figures Q1 2026 Revenue: $3.7 million Q1 2026 Operating Expenses: $19.8 million Q1 2026 Net Loss: $4.1 million ($0.02 per share) +5 more 8 metrics Q1 2026 REVENUE $3.7 million First quarter 2026 revenue vs $39 thousand in Q1 2025 Q1 2026 OPERATING EXPENSES $19.8 million First quarter 2026 vs $8.3 million in first quarter 2025 Q1 2026 NET LOSS $4.1 million ($0.02 per share) First quarter 2026 vs net income $17.0 million ($0.13) prior-year CASH & INVESTMENTS $1.4 billion Cash, cash equivalents and investments as of March 31, 2026 TOTAL LIABILITIES $23.4 million Liabilities at March 31, 2026, up $2.7 million vs year-end 2025 STOCKHOLDERS’ EQUITY $1.6 billion Equity balance as of March 31, 2026 CONTRACT BACKLOG $16 million Backlog as of March 31, 2026 LSI ACQUISITION VALUE $110 million All-cash acquisition of Luminar Semiconductor completed in Q1 2026 Market Reality Check Price: $12.31 Vol: Volume 12,634,508 is belo... normal vol $12.31 LAST CLOSE VOLUME Volume 12,634,508 is below 20-day average of 16,635,104 (relative volume 0.76x). NORMAL TECHNICAL Price 9.60 is trading below the 200-day MA of 12.48, signaling a weaker pre-news trend. Peers on Argus QUBT slipped about 0.31% while key peers were mixed: RGTI featured in momentum s... 1 Down QUBT slipped about 0.31% while key peers were mixed: RGTI featured in momentum scanners trending down, but QBTS, CRSR, and SSYS in the broader peer list showed gains, and CRCT declined. This points to a stock-specific reaction rather than a uniform sector move. COMMON CATALYST QUBT and peer RGTI both reported quarterly earnings today, suggesting company-specific fundamental updates rather than a broad quantum-computing sector catalyst. Previous Earnings Reports 5 past events · Latest: Mar 02 (Positive) Same Type Pattern 5 events DATE EVENT SENTIMENT MOVE CATALYST Mar 02 Q4 2025 earnings Positive -10.0% Q4 2025 results with higher revenue, major capital raise, and Luminar deal. Nov 14 Q3 2025 earnings Positive +8.5% Accelerating Q3 2025 revenue, improving margins, and strengthened liquidity. Aug 14 Q2 2025 earnings Neutral -0.4% Q2 2025 results with modest revenue, large non-cash loss, and new contracts. May 15 Q1 2025 earnings Positive +39.3% Q1 2025 revenue growth, warrant-driven net income, and new partnerships. Mar 20 Q4 2024 earnings Neutral +0.0% Q4 2024 results with higher expenses, capital raised, and foundry launch plans. PATTERN DETECTED Earnings releases for QUBT have often produced sizable moves, with an average absolute move around 7.48%, and mostly positive price alignment to generally constructive fundamentals except for one notable selloff. RECENT COMPANY HISTORY Over the last five earnings cycles from Q4 2024 through Q4 2025, QUBT has steadily highlighted growing revenues, expanded liquidity, and increasing commercialization of its quantum and photonics offerings. Past reports featured rising cash balances, multiple private placements, and progressing foundry operations. Price reactions ranged from flat to sharply positive, with one negative move on Q4 2025 results. Today’s Q1 2026 release, with materially higher revenue and significant cash, fits into this trajectory of scaling operations and balance sheet strength. Historical Comparison +7.5% avg move · Across the last 5 earnings releases, QUBT’s average move was about 7.48%, showing that quarterly res... earnings +7.5% AVERAGE HISTORICAL MOVE EARNINGS Across the last 5 earnings releases, QUBT’s average move was about 7.48%, showing that quarterly results have often been meaningful trading catalysts. Earnings updates show a progression from modest 2024 revenues and rising expenses toward 2025–2026 results featuring growing sales, large liquidity from capital raises, and integration of acquisitions like Luminar into a broader photonics platform. Regulatory & Risk Context Active S-3 Shelf Shelf Active ACTIVE S-3 SHELF REGISTRATION 2025-10-09 QUBT has an effective S-3ASR shelf registration dated 2025-10-09 with 0 recorded usage events so far, indicating registered capacity that has not yet been tapped in recent 424B supplements. Market Pulse Summary The stock surged +15.7% in the session following this news. A strong positive reaction aligns with Q... Analysis The stock surged +15.7% in the session following this news. A strong positive reaction aligns with QUBT’s history of meaningful moves on earnings, where prior releases averaged about 7.48% swings. The large jump in Q1 2026 revenue to $3.7 million and sizeable cash and investments of $1.4 billion support a constructive view. However, higher operating expenses of $19.8 million, ongoing net losses, and integration risks from acquisitions could temper sustainability if execution falters. Key Terms derivative liability, mark-to-market, warrants, thin film lithium niobate ("TFLN"), +4 more 8 terms Derivative Liability FINANCIAL Mark-To-Market FINANCIAL Warrants FINANCIAL Thin Film Lithium Niobate ("TFLN") TECHNICAL Restricted Stock Units (RSUs) FINANCIAL Quantum Optimization Machine TECHNICAL Photonic Chips TECHNICAL Foundry Services TECHNICAL AI-generated analysis. Not financial advice. 05/11/2026 - 04:05 PM Q1 revenue increases to $3.7 million from $39 thousand in Q1 '25 Company completes two strategic acquisitions advancing its product roadmap to deliver practical quantum and photonics solutions Ends quarter with $1.4 billion in cash, cash equivalents and investments HOBOKEN, N.J., May 11, 2026 /PRNewswire/ -- Quantum Computing Inc. ("QCi" or the "Company") (Nasdaq: QUBT), a quantum optics and integrated photonics company, today released financial results for the three months ended March 31, 2026. Dr. Yuping Huang, Chief Executive Officer of QCi, commented, "QCi made significant operational progress in the first quarter of 2026, furthering our mission of delivering accessible, scalable, and affordable quantum machines and photonic solutions for practical use across high-growth markets, including high-performance computing, artificial intelligence, cybersecurity, aerospace and defense, and advanced sensing and imaging. As demand for faster and more efficient data processing grows, it is becoming increasingly clear that photonics will be a critical component of future technological advancements given its low power consumption and ability to operate at room temperature.  During the first quarter we strengthened our position in this space, and made significant progress in advancing our technology roadmap and continued to grow our commercial momentum.  "We completed two key acquisition opportunities in the quarter, closing the acquisitions of Luminar Semiconductor, Inc. ("LSI"), and NuCrypt, LLC ("NuCrypt"), improving our path to scalable manufacturing and bolstering our portfolio of quantum communications and photonics solutions.  We are currently integrating LSI and NuCrypt into QCi.  These acquisitions bring established capabilities in lasers, detectors and advanced packaging, broad R&D and manufacturing capabilities, and an experienced team of engineers and scientists, further expanding our talent base and execution capacity. As we move through 2026, we remain focused on expanding our strategic partnerships, scaling our technology and manufacturing capabilities, and continuing to advance our mission of putting quantum-enabled solutions into the hands of people."  First Quarter 2026 Financial Highlights First quarter 2026 revenues totaled approximately $3.7 million compared to $39 thousand in the first quarter of 2025. The year-over-year increase was driven primarily by the acquisition of LSI in February 2026, and, to a lesser extent, NuCrypt in March 2026.  Operating expenses totaled $19.8 million compared to $8.3 million in the first quarter of 2025, up 139%, largely reflecting higher personnel costs across research and development, sales and marketing, and general and administrative functions and higher expenses primarily associated with acquisition-related transaction expenses. The Company reported a net loss of $4.1 million, or $0.02 per basic share for the first quarter of 2026, compared to net income of $17.0 million or $0.13 per basic share, for the prior-year period. The year-over-year change in net loss was primarily driven by the decrease in the non-cash gain on the mark-to-market of the Company's derivative liability (which relates to warrants issued for the merger with QPhoton in June 2022) and higher operating expenses. Total assets at March 31, 2026 were approximately $1.6 billion, relatively unchanged compared to December 31, 2025. Cash, cash equivalents and investments totaled approximately $1.4 billion at March 31, 2026, compared to approximately $1.5 billion at year-end 2025. Total liabilities at March 31, 2026 were $23.4 million, an increase of $2.7 million compared to year-end 2025. As of March 31, 2026, the Company had stockholders' equity totaling $1.6 billion. As of March 31, 2026, contract backlog was approximately $16 million. First Quarter 2026 Operational Highlights Acquisition of Luminar Semiconductor, Inc.: During the first quarter, QCi completed the acquisition of Luminar Semiconductor, Inc. in an all-cash transaction valued at $110 million. LSI manufactures and sells a portfolio of photonic components and brings established capabilities in lasers, detectors, advanced packaging, and manufacturing, complementing QCi's position in thin film lithium niobate ("TFLN") integrated photonics. Acquisition of NuCrypt, LLC: During the first quarter, QCi completed the acquisition of NuCrypt, LLC, a quantum communications technology company, in a transaction valued at $5 million. By integrating NuCrypt's suite of quantum communications systems and products, QCi expects to advance its technology roadmap while extending its portfolio of quantum communications and quantum photonics solutions. Placed Quantum Optimization Machine on Quantum Corridor Network: QCi announced during the first quarter the placement of a QCi Dirac-3 quantum optimization machine on Quantum Corridor's network, a multi-state quantum-safe commercial communication network in North America. The partnership with Quantum Corridor will allow for enhanced, secure and on-demand Dirac-3 access for institutions and commercial customers on Quantum Corridor's network. Quantum Photonic Chip Foundry Update: QCi's Fab 1 facility, currently purposed for research and development and prototyping, has been ramping up small-batch manufacturing and has begun to generate early revenue. The Company has been actively exploring options for a planned Fab 2 facility, with the goal of further expanding production capacity. Earnings Conference Call The Company will host its first quarter 2026 call today, Monday, May 11, 2026, at 4:30 p.m. ET. To access the live webcast of the conference call, visit the QCi Investor Relations page at https://quantumcomputinginc.com/investor-relations. Investors may also access the webcast via the following link: https://www.webcaster5.com/Webcast/Page/3051/53987. To participate in the call by phone, dial (888) 506-0062 approximately five minutes prior to the scheduled start time. International callers please dial (973) 528-0011. Callers should use access code: 639951. A replay of the teleconference will be available until May 25, 2026, and may be accessed by dialing (877) 481-4010. International callers may dial (919) 882-2331. Callers should use conference ID: 53987. About Quantum Computing Inc. Quantum Computing Inc. (Nasdaq: QUBT) is a quantum optics and integrated photonics company focused on delivering accessible, scalable, and cost-effective quantum machines and photonic solutions. The Company provides foundry services for thin-film lithium niobate ("TFLN") photonic chips and offers a vertically integrated portfolio spanning photonics components, subsystems, and full-stack systems. Designed to operate at room-temperature with low-power requirements, QCi's technologies enable practical deployment across high-growth markets, including high-performance computing, artificial intelligence, cybersecurity, aerospace and defense, and advanced sensing and imaging.  Headquartered in Hoboken, New Jersey, QCi has operations in Arizona, California, Illinois, Massachusetts and Virginia.   By combining advanced materials, device engineering, and scalable manufacturing, QCi delivers integrated quantum and photonics technologies, accelerating commercialization and real-world adoption. Company Contact: John Nesbett/Zach Nevas IMS Investor Relations investors@quantumcomputinginc.com Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our expectations of future results, operational expansion and business strategy are forward-looking statements. The words "believe," "may," "will," "estimate," "potential," "continue," "anticipate," "intend," "expect," "strategy," "future," "could," "would," "project," "plan," "target," and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to, future demand for quantum and photonic products, the Company's ability to scale its technology and manufacturing, the Company's ability to integrate and benefit from recent acquisitions, and the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC's website at www.sec.gov and the Investor Relations section of our website at https://quantumcomputinginc.com/investor-relations, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. QUANTUM COMPUTING INC. Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited, in thousands, except per share data) Three Months Ended March 31, 2026 2025 Total revenue $ 3,691 $ 39 Cost of revenue 4,412 26 Gross (loss) profit (721) 13 Operating expenses Research and development 6,969 2,985 Sales and marketing 1,597 672 General and administrative 11,263 4,642 Total operating expenses 19,829 8,299 Loss from operations (20,550) (8,286) Non-operating income (expense) Interest and other income 13,495 1,696 Interest expense (171) (58) Change in fair value of derivative liability 3,176 23,630 (Loss) income before income tax provision (4,050) 16,982 Income tax provision - - Net (loss) income (4,050) 16,982 Other comprehensive (loss) income: Unrealized losses on available-for-sale debt securities (3,822) - Total comprehensive (loss) income $ (7,872) $ 16,982 (Loss) earnings per share: Basic $ (0.02) $ 0.13 Diluted $ (0.02) $ 0.11 Weighted average shares used in computing net (loss) income per common share: Basic 223,986 135,217 Diluted 223,986 153,006   QUANTUM COMPUTING INC. Condensed Consolidated Balance Sheets (Unaudited, in thousands, except par value data) March 31, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 257,711 $ 737,880 Accounts receivable, net 4,281 519 Inventory 4,112 352 Short-term investments 728,401 379,421 Accrued interest receivable 5,346 3,634 Prepaid expenses and other current assets 5,225 11,914 Total current assets 1,005,076 1,133,720 Property and equipment, net 16,942 12,971 Operating lease right-of-use assets 5,206 2,353 Intangible assets, net 19,191 6,500 Goodwill 146,511 55,573 Long-term investments 422,818 403,121 Accrued interest receivable - long term 4,517 4,551 Other non-current assets 273 131 Total assets $ 1,620,534 $ 1,618,920 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,707 $ 778 Accrued expenses 8,342 9,135 Deferred revenue 1,882 395 Other current liabilities 2,144 766 Total current liabilities 15,075 11,074 Derivative liability 4,597 7,773 Operating lease liabilities 3,678 1,808 Total liabilities 23,350 20,655 Commitments and Contingencies (see Note 10) Stockholders' equity: Preferred stock, $0.0001 par value, 1,550 shares Series A Preferred authorized; no      shares issued and outstanding as of March 31, 2026 and December 31, 2025,      respectively; 3,080 shares of Series B Preferred Stock authorized; no shares issued      and outstanding as of March 31, 2026 and December 31, 2025, respectively  - - Common stock, $0.0001 par value, 250,000 shares authorized; 225,494 and 224,165      shares issued and outstanding as of March 31, 2026 and December 31, 2025,      respectively 23 22 Additional paid-in capital 1,823,284 1,816,494 Accumulated deficit (223,206) (219,156) Accumulated other comprehensive (loss) income (2,917) 905 Total stockholders' equity 1,597,184 1,598,265 Total liabilities and stockholders' equity $ 1,620,534 $ 1,618,920   SOURCE Quantum Computing Inc. FAQ How did Quantum Computing (QUBT) perform financially in Q1 2026? Quantum Computing reported Q1 2026 revenue of $3.7 million and a net loss of $4.1 million. According to Quantum Computing, revenue rose from $39 thousand a year earlier, while operating expenses increased to $19.8 million, driving the quarterly loss. Why did Quantum Computing (QUBT) revenue increase in the first quarter of 2026? Quantum Computing’s Q1 2026 revenue rose to $3.7 million, primarily due to acquisitions. According to Quantum Computing, the Luminar Semiconductor deal in February 2026 and, to a lesser extent, the NuCrypt acquisition in March 2026 were the main contributors to this year-over-year increase. What acquisitions did Quantum Computing (QUBT) complete in Q1 2026 and what were their values? Quantum Computing completed two acquisitions in Q1 2026: Luminar Semiconductor and NuCrypt. According to Quantum Computing, Luminar was acquired in an all-cash transaction valued at $110 million, while NuCrypt was purchased in a transaction valued at $5 million to expand quantum communications capabilities. What is Quantum Computing (QUBT)'s cash position and balance sheet as of March 31, 2026? As of March 31, 2026, Quantum Computing held about $1.4 billion in cash, cash equivalents and investments. According to Quantum Computing, total assets were approximately $1.6 billion, total liabilities were $23.4 million, and stockholders’ equity was about $1.6 billion. What is the significance of Quantum Computing (QUBT) placing a Dirac-3 machine on Quantum Corridor's network? Quantum Computing placed a QCi Dirac-3 quantum optimization machine on Quantum Corridor’s multi-state quantum-safe network. According to Quantum Computing, this partnership enables enhanced, secure, on-demand Dirac-3 access for institutions and commercial customers connected to Quantum Corridor in North America. How is Quantum Computing (QUBT) progressing with its quantum photonic chip foundry and Fab facilities? Quantum Computing’s Fab 1 facility has ramped to small-batch manufacturing and started generating early revenue. According to Quantum Computing, the company is exploring options for a planned Fab 2 facility aimed at further expanding production capacity for thin-film lithium niobate photonic chips. What is Quantum Computing (QUBT)'s contract backlog as of Q1 2026 and what does it indicate? Quantum Computing reported a contract backlog of approximately $16 million as of March 31, 2026. According to Quantum Computing, this backlog represents contracted business that has not yet been recognized as revenue, providing some visibility into future demand for its quantum and photonics solutions.