Quantum Computing Inc. (QUBT) FY2025 10-K Annual Report
Quantum Computing Inc. (QUBT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 2, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Quantum Computing Inc. FY2025 10-K Analysis
Business Overview
- • Core business: Integrated photonics and non-linear quantum optics-based quantum computing and related applications with room-temperature, low-power machines
- • New products: Dirac-3 EQC quantum optimizer launched Q1 2024; AI photonic reservoir computer "Neurawave" launched Nov 2025; Quantum Photonic Vibrometer launched July 2023
Management Discussion & Analysis
- • Revenue $682K in 2025, up 83% YoY from $373K in 2024; Product revenue surged 1063% to $314K, services $368K up 6%
- • Gross margin declined to 10% in 2025 from 30% in 2024; gross profit $67K vs $112K, due to higher direct labor on new product assembly
Risk Factors
- • Regulatory risk: IRS Sections 382 and 383 limit use of net operating loss carryforwards after ownership changes, including QPhoton Merger impact
- • Geopolitical threat: U.S.-China tensions risk loss of access to key suppliers, impacting manufacturing of quantum computer components sourced from China
Quantum Computing Inc. FY2025 Key Financial MetricsXBRL
Revenue
$682,000
▲ +82.8% YoY
Net Income
-$19M
▲ +72.8% YoY
Gross Margin
9.8%
▼ -2020bp YoY
Operating Margin
-7489.3%
▼ -53568bp YoY
Net Margin
-2738.1%
▲ +1563775bp YoY
ROE
-1.2%
▲ +6272bp YoY
Total Assets
$1.6B
▲ +954.3% YoY
EPS (Diluted)
$-0.11
▲ +84.9% YoY
Operating Cash Flow
-$30M
▼ -86.9% YoY
Source: XBRL data from Quantum Computing Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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