How did Quantum's revenue and expenses trend in Q3 2025?

**Quantum Computing's Revenue and Expenses Trend in Q3 2025**: 1. **Revenue Performance**: - Quantum Computing reported a revenue of $72.6 million for the fiscal third quarter of 2025, which is a notable increase from the $71.9 million recorded in the same quarter of the previous year (2024). - This growth reflects positive bookings momentum and customer wins that have been converted into realized sales. 2. **Net Income Insights**: - Despite the revenue increase, Quantum Computing reported a net loss of $71.4 million for the quarter, resulting in a net loss per share of ($14.56). - The net loss included a non-cash adjustment of $61.6 million related to the fair market value of warrant liabilities. 3. **Adjusted Financial Metrics**: - Adjusted for non-cash warrant liabilities, Quantum Computing had a significantly reduced net loss of $4.0 million, or ($0.81) per share. - The company also achieved a positive adjusted EBITDA of $4.7 million, which is a $5 million improvement sequentially. 4. **Expense Management**: - Quantum Computing made significant strides in reducing its outstanding debt, taking initial steps towards becoming debt-free. - The company's gross margin improved by 230 basis points, reaching nearly 44%, coupled with a substantial reduction in operating expenses. In conclusion, Quantum Computing demonstrated robust revenue growth in Q3 2025, driven by increased sales and improved gross margins. However, the company continues to manage expenses and debt effectively to improve its overall financial health.