Quantum Computing Q2 Earnings Call Highlights

Quantum Computing Q2 Earnings Call Highlights

Q2 revenue rose to $5.6 million from $61,000 a year earlier, driven by photonics products, while the net loss narrowed to $11.8 million. The company held approximately $1.3 billion in cash and investments and had a $42.5 million backlog extending into at least the third quarter of 2027. Quantum Computing completed three acquisitions, including NHanced Semiconductors, to expand advanced packaging and manufacturing capacity. NHanced can process roughly 60,000 wafers annually, though potential facility upgrades could require up to $100 million in capital spending. The company advanced commercialization through NeuraWave’s commercial launch, a Dirac-3 installation at a global consulting firm, and a Planck Dynamics agreement involving an initial order for five systems with potential program value above $10 million.

Quantum Computing NASDAQ: QUBT reported second-quarter 2026 revenue of $5.6 million, up from $61,000 a year earlier and $3.7 million in the first quarter, as photonics product sales contributed across its government, educational and commercial customer base. Chief Financial Officer Chris Roberts said the quarter’s revenue primarily came from photonics products used in the company’s quantum roadmap as well as existing industrial applications. He said government business, largely performed as a subcontractor to prime contractors in civil, aerospace and defense programs, currently represents about 70% to 80% of the company’s business. Commercial markets rank second, while educational customers represent a smaller portion, he said.

The company reported a net loss of $11.8 million, or $0.05 per share, compared with a net loss of $36.5 million, or $0.26 per basic share, in the second quarter of 2025. Roberts attributed much of the year-over-year improvement to a lower non-cash mark-to-market loss associated with warrant derivative liabilities related to the company’s 2022 merger with QPhoton. Operating expenses rose 114% to $21.8 million from $10.2 million a year earlier. The increase reflected higher personnel and payroll costs for research and development, sales and marketing, as well as approximately $7.3 million in acquisition-related transaction costs. Interest and other income totaled $13 million, up from $1.8 million in the prior-year period, driven by interest generated from a larger cash position. At June 30, the company held approximately $1.3 billion in cash, cash equivalents and investments, down from about $1.5 billion at the end of 2025. Roberts said the decrease included roughly $180 million of cash used for the acquisitions of Luminar Semiconductor, NuCrypt and NHanced Semiconductors, including transaction expenses. Total assets were approximately $1.6 billion, while total liabilities were $47.2 million. Contract backlog stood at approximately $42.5 million at June 30. Roberts said backlog had not changed substantially in the roughly 40 days after quarter-end, though contract activity can occur unevenly. He said the contracts in backlog generally extend over 12 to 18 months and would support operations into the third quarter of 2027 or longer if no additional business were received.

Chief Executive Officer and Chairman Yuping Huang said the company completed three acquisitions during the first half of 2026 to expand its commercialization efforts, technical capabilities, manufacturing capacity and engineering staff.