Quantum Computing Finally Delivered, And The Stock May Be Too Cheap

Investor Overview 2.95K Followers Follow Summary Quantum Computing Inc. is upgraded from Hold to Buy, as commercial traction and financial strength have improved markedly since June 2025. QUBT now reports $5.6M in Q2 2026 revenue, a $42.5M contract backlog, and $1.3B in cash, but gross margins remain negative and costs are rising. NeuraWave and recent acquisitions position QUBT as an integrated photonics and semiconductor platform, broadening its addressable market beyond quantum computing. Valuation is less extreme, with a cash-adjusted EV/sales of ~20x for 2026; five-year risk/reward is now attractive despite ongoing dilution and lack of profitability. Just_Super/iStock via Getty Images In my previous article about Quantum Computing Inc. ( QUBT ) from June 2025, I gave the stock a Hold rating; now the stock is down 58%, so it is time to take another look. I already found the This article was written by Investor Overview 2.95K Followers Follow I'm a passionate investor from the Netherlands with 12 years of stock market experience. My articles usually contain a good overview of important investment criteria. A stock for my portfolio is of interest to me if the company has the following characteristics:1. Companies that are growing in both revenue, earnings and free cash flow.2. Companies that have excellent growth prospects.3. Stocks with favorable valuations.I prefer steadily growing companies with high free cash flow margins, dividend stocks and stocks with generous share repurchase programs.Disclaimer: My articles do not provide financial advice, they reflect my own findings and insights. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.