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- **Revenue Soars 281% YoY**: Q3 2025 revenue of $384,000 driven by NASA and financial institution deals, with $1.27B in recent capital raises.
- **Manufacturing Ambition**: Fab 1 operational, Fab 2 planned for high-volume production (hundreds of millions/year) by 2030.
- **Strategic Expansion**: Joined QEDC and CTA; sold AI and quantum systems to global automotive and European academic partners.
- **Financial Strength**: $878M total assets, $352M cash, and 33% gross margin. Evaluating M&A to accelerate growth.
- **Quantum Security Momentum**: Increasing demand for quantum-secured Internet amid Shor's algorithm concerns, with solutions compatible with existing telecom infrastructure.

**【CEO Summary Section】**
- **Revenue Growth and Capital Strength**: Recorded $384,000 in Q3 2025 revenue, up 281% YoY, driven by NASA LiDAR and U.S. financial institution deals. Raised $1.27B in Q3 and Q4, including $750M post-quarter, with $878M in total assets.
- **Manufacturing Expansion**: Fab 1 operational, producing thin-film lithium niobate chips for 10+ customers. Planning Fab 2 for high-volume production (hundreds of millions/year) by end of the decade.
- **Strategic Partnerships**: Collaborated with POET Technologies for telecom applications and sold EmuCore to a global automotive manufacturer. Joined QEDC and CTA to expand industry influence.
- **Roadmap Focus**: Scaling engineering, manufacturing, and sales teams; targeting 2030 for volume production. DIRAC-3 quantum optimization machine showing real-world advantages over classical systems.

**【CFO Financial Commentary】**
- **Financial Highlights**: Q3 2025 GAAP net income $2.4M ($0.01/share), up from $5.7M loss YoY. Gross margin improved to 33% (vs. 9% YoY). Operating expenses $10.5M, up 94% YoY due to team scaling.
- **Balance Sheet**: $352M cash and $460M investments as of Q3. Total liabilities $20M, down 56% YoY. Share count 224M as of Q4 2025.
- **Future Outlook**: $750M post-quarter financing supports M&A and manufacturing. Evaluating acquisitions to accelerate technology adoption and fill road map gaps.

**【Q&A Key Highlights】**
- **Partnerships and M&A**: Actively pursuing telecom collaborations (e.g., POET) and exploring M&A in volatile market. Fab 1 to add $2M in high-speed testing equipment.
- **International Expansion**: Sold systems to TU Delft (Europe) and Singapore users. Exploring South Korea via distributor.
- **Quantum Security Demand**: Increasing interest from CISOs amid Shor's algorithm concerns. Quantum-secured Internet solutions compatible with existing telecom infrastructure.
- **DIRAC-3 Adoption**: Transitioning to volume production to reduce costs and improve user accessibility. Applications team building integrations with customer systems.


Quantum Computing Inc. (QUBT) Q3 2025 Earnings Call Transcript

Revenue

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QUBT

QUBT fundamentals

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