Quantum Computing Inc. Common 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- Quantum Computing, Inc. reported second quarter 2026 revenue of $5.6 million, up from $61,000 in Q2 2025 and $3.7 million in Q1 2026, driven by sales of photonics products across government, educational, and commercial customers.
- Operating expenses for Q2 2026 were $21.8 million, a 114% increase year over year, mainly due to higher personnel costs and $7.3 million in acquisition-related expenses.
- Interest and other income rose to $13 million in Q2 2026 from $1.8 million in Q2 2025 due to a larger cash position.
- The net loss for Q2 2026 was $11.8 million, or $0.05 per share, improved from a $36.5 million loss, or $0.26 per share, in Q2 2025, primarily due to a smaller non-cash loss on derivative liabilities.
- Total assets remained around $1.6 billion as of June 30, 2026, with cash, cash equivalents, and investments at approximately $1.3 billion after $180 million cash spent on acquisitions.
- Total liabilities increased to $47.2 million, and stockholders' equity was $1.6 billion as of June 30, 2026.
- Contract backlog was approximately $42.5 million as of June 30, 2026, representing contracts expected to be performed over 12 to 18 months.
- The company completed three strategic acquisitions in the first half of 2026, including Enhanced Semiconductors, Inc., expanding manufacturing capabilities and engineering talent.
- Neural Wave, the next-generation photonic reservoir computing platform, reached commercial readiness and secured an initial purchase order from Planck Dynamics with potential program value over $10 million.
- The Direct Three quantum optimization machine was delivered to a global consulting firm, marking a commercial milestone.
- Quantum secure communications system received a purchase order from a leading university for evaluation in quantum secure networking research.
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Transcript
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Following management's remarks, the call line will be opened for questions. It is now my pleasure to introduce your host, John Nesbitt, with IMS Investor Relations.
Thank you, and I want to welcome everyone to Quantum Computing Inc.'s second quarter 2026 shareholder update call. Before we begin, please note that today's remarks may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expected results, operational plans, strategy, and market opportunities. These statements are made pursuant to the Safe Harbor provision of Section 27A of the Securities Act and Section 21E of the Exchange Act and are based on current assumptions and expectations. Forward-looking statements are neither promises nor guarantees and involve risks and uncertainties that could cause actual results to differ materially. Important risk factors are discussed in our annual report on Form 10-K for the year ended December 31, 2025, and in subsequent SEC filings, including the quarterly report on Form 10-Q for the quarter ended June 30, 2026.
We undertake no obligation to update these statements except as required by law. On the call today, we have Dr. Yuping Huang, Chief Executive Officer and Chairman, and Chris Roberts, Chief Financial Officer. The team will provide an update on the business, followed by a question and answer session. With that, I will now turn the call over to management.
Please go ahead, Yuping. Good afternoon, and thank you for joining us for Quantum Computing Inc.'s second quarter 2026 earnings call.
During the second quarter, we continued to build on the momentum established in the first quarter, executing on our quantum roadmap while expanding the technologies and manufacturing capabilities that enable both our quantum systems and a growing portfolio of commercial products and services. We also made meaningful progress in our transition toward scalable, cost-effective production of miniaturized quantum products based on nanophotonics and advanced packaging. As I have said before, our goal is simple, to put quantum products and technologies into the hands of everybody. Everything we do at QCi is focused on making quantum systems smaller, more practical, more affordable, and ultimately, more accessible. At our core, QCi is a quantum technology company.
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