Quantum Computing, Inc. QUBT, or QCi, reported third-quarter results that highlight growing real-world adoption of its photonic and quantum computing systems. Revenues increased to $384,000, driven by higher R&D and custom hardware contracts, as well as initial revenues from DIRAC-3 cloud access.
QCi is deploying its DIRAC-3 quantum optimization machine to develop quantum-based methods for mitigating solar noise in space-based LiDAR data, a persistent challenge in achieving accurate daytime atmospheric sensing. This collaboration reinforces QCi’s emergence as a trusted government partner and demonstrates the practical relevance of its quantum computing solutions in scientific and environmental research.
In addition, the company announced a purchase order from a top-five U.S. bank for its quantum security solutions — the first U.S. commercial sale of its quantum cybersecurity offerings — marking a key milestone in validating its platform for real-world use cases.
Meanwhile, as manufacturing workflows continue to mature, QCi remains engaged in discussions with commercial and academic partners while advancing plans for Fab 2, a larger facility than Fab 1 designed to support higher-volume production over the longer term. During the quarter, the company also maintained an active presence at key conferences and industry events, expanding awareness of its technology across both academic and commercial audiences.
Peer Update
Rigetti’s RGTI roadmap reflects a practical approach to quantum adoption, centered on modular scaling and close alignment with government, academic, and early enterprise environments. Recent momentum includes $5.7 million in purchase orders for two 9-qubit Novera systems, a $5.8 million three-year AFRL contract to advance superconducting quantum networking, and continued engagement with DARPA’s Quantum Benchmarking Initiative. With deep ownership of its hardware stack, Rigetti retains the flexibility to adapt its architecture as commercial needs evolve.
Arqit Quantum ARQQ sets itself apart by focusing on quantum cybersecurity through its QuantumCloud platform. The company has recently strengthened its positioning with expanded customer contracts and updated revenue guidance pointing to meaningful growth, helping it stand out in a crowded quantum ecosystem. Supporting this momentum, ARQQ secured seven contracts — two with telecom network operators and five with government, defense, and enterprise organizations.
QUBT’s Price Performance
Year to date, QCi’s shares have dipped 29%, underperforming the industry’s 10.6% growth. The S&P 500 composite has grown 19.1% in the same period.
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Expensive Valuation
QUBT currently trades at a forward 12-month Price-to-Sales (P/S) of 878.62X compared with the industry average of 5.55X.
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QUBT Stock Estimate Trend
Over the past 30 days, its loss per share estimate for 2025 has narrowed 1 cent to 18 cents.
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QUBT stock currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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This article originally published on Zacks Investment Research (zacks.com).
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