QUBT
Quantum Computing Inc.

Quantum Computing Inc.QUBT

Technology · Computer Hardware
9.08USD
+1.34%
Sep 23, 2026
QUBT overview ready
QCi is a vertically integrated quantum-photonics participant: it sells photonic components and foundry/advanced-packaging services, develops photonic quantum systems, and is commercializing quantum optimization, photonic reservoir-computing, and quantum-secure communications offerings.
Narrative is still early
Exposed to the Quantum Technology Industrialization narrative through Quantum Hardware Commercialization and Domestic Scale-Up — pure play.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of reclaim attempt.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Fundamentals under pressure
Ev / sales is weak.
Primary risk
High negative operating margins and ongoing losses.
Market Sep 22Filing Jun 30Price action Sep 22Research Sep 18

Conviction Level

NarrativeHeat5.7ThemeHeat7.5PriceAction8.0Valuation0.3CompanyPosition7.3
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of reclaim attempt.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$2.1B
Avg Volume (60D)
7.6M
60 sessions
Revenue Growth YoY
+82.8%
FY2025 vs FY2024
Gross Margin
-18.9%
Trailing twelve months
Operating Margin
-775.5%
Trailing twelve months
Free Cash Flow Yield
-2.5%
Distance from 200DMA
-2.8%
Next Earnings
2026-11-09
P/E
N/M
EV / Sales
113.1x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Dec 31, 2023

Fundamentals & Valuation

Two of the three valuation perspectives say expensive; own history is the dissenting view.
Quantum Computing Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces.

Company Research

Thesis
QCi is a vertically integrated quantum-photonics participant: it sells photonic components and foundry/advanced-packaging services, develops photonic quantum systems, and is commercializing quantum optimization, photonic reservoir-computing, and quantum-secure communications offerings.
Opportunity
High opportunity
Government, strategic-industry, and enterprise investment to commercialize quantum systems while building the domestic manufacturing, component, packaging, and integration capacity needed to scale them.
Key risk
High negative operating margins and ongoing losses.

Narrative & Theme

Quantum Technology Industrialization
Part of Quantum Hardware Commercialization and Domestic Scale-Up, with strong fit.
QUBT has a genuine, direct exposure to the emerging quantum-commercialization cycle, rather than merely a generic AI or semiconductor adjacency.
Narrative HeatNeutral5.7 / 10
Theme HeatHeating up7.5 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Technology · Computer Hardware
What they do

Quantum Computing Inc. develops integrated photonics technology and quantum computing machines, supplying optical devices and quantum systems to commercial and government customers primarily in the U.S.

How it earns

Revenue is generated through sales of hardware products and quantum computing machines, likely on a transactional or project basis.

Products & services
Thin-film lithium niobate chips for optical devices
Entropy quantum computer (EQC)
Emucore reservoir computing machine
Customers & end markets
Commercial markets
Government markets
Market position

Niche player focused on integrated photonics and quantum computing hardware.

Demand drivers
Medium cyclicality

Demand depends on technology adoption cycles and government/commercial investment in quantum computing.