- Quantum Computing Inc (QUBT, Financial) reported Q1 2025 revenue of $39,000, a 44% increase from Q1 2024.
- QUBT completed its Quantum Photonic Chip Foundry in Tempe, Arizona, with five initial foundry orders.
- QUBT ended Q1 2025 with a cash reserve of $166.4 million, bolstered by a $93.6 million private placement.
Quantum Computing Inc. (QUBT) has released its first quarter financial results for 2025, showcasing significant advances in both operational and financial aspects. The company reported a revenue of $39,000 for Q1 2025, up from $27,000 in Q1 2024, achieving a gross margin of 33%.
During this quarter, QUBT achieved a major milestone by completing the construction of its Quantum Photonic Chip Foundry in Tempe, Arizona. This development comes with five initial orders, marking a crucial step in the company's expansion into photonic chip production, particularly for thin film lithium niobate (TFLN) chips.
The company also reported a net income of $17.0 million or $0.13 per share due to a $23.6 million non-cash gain from the valuation of warrant liabilities. This contrasts with a net loss of $6.4 million in Q1 2024. However, operationally, the company faced an operating loss of $8.3 million, widening from $6.3 million the previous year, primarily due to increased employee expenses.
QUBT saw a substantial increase in cash and cash equivalents, which rose to $166.4 million by the end of March 2025, mainly fueled by a $93.6 million private placement offering, making a significant contribution to its financial solidity.
Post-Q1, the company secured a $406,000 NASA subcontract to aid in enhancing space-based LIDAR data analysis and further expanded its commercial reach by selling a Quantum Photonic Vibrometer to Delft University and an EmuCore computing device to a major automotive manufacturer.
These strategic achievements hint at QUBT's ongoing effort to bolster its position in the quantum technology and photonics industry, advancing both its market presence and technological capabilities.
