QUBT Quantum Computing Inc.
FY2025 10-K
Quantum Computing Inc. (QUBT) filed its fiscal year 2025 10-K annual report with the SEC on Mar 2, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
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
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