Quantum Computing posts first revenue from acquisitions
The company swung to a $4.1 million net loss after booking $3.7 million in quarterly sales.
Quantum Computing (QUBT) reported its first material revenue in the March quarter, booking $3.7 million after closing two acquisitions and beginning production at its Fab 1 facility.
The result marked a sharp turn for the quantum-computing hardware developer, which had generated only $39 thousand in the year-earlier period. Revenue growth was driven entirely by the February purchase of Luminar Semiconductor and the March acquisition of NuCrypt, the company said.
Sales rose sequentially from $198 thousand in the December quarter, while gross loss widened to $721 thousand from a $13 thousand profit a year earlier. Cost of revenue jumped to $4.4 million from $26 thousand, outpacing the top-line gain.
Operating expenses surged 139% year-over-year to $19.8 million, reflecting higher personnel costs and acquisition-related transaction expenses. The figure was down from $22.1 million in the prior quarter but remained elevated as integration costs persisted.
Net loss totaled $4.1 million, compared with net income of $17.0 million in the March 2025 quarter. The swing was driven by a decline in non-cash gains from derivative liabilities, which fell to $3.2 million from $23.6 million, and the higher operating expenses.
Cash and investments declined to $1.4 billion at quarter-end from $1.5 billion at December 31, as the company spent $73.1 million on the acquisition of NHanced Semiconductors and continued to scale operations. Contract backlog grew to $16 million, signaling early traction in foundry services and product sales.
The company disclosed plans to begin construction on Fab 2 to support higher-volume production, building on the small-batch manufacturing ramp at Fab 1.