Quantum Computing (QUBT) 10-K Summaries & Annual Filing History
Review Quantum Computing Inc. (QUBT) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Quantum Computing Inc. reported a significant increase in revenue for the fiscal year, though it continued to incur net losses and negative operating cash flow. The company raised substantial equity capital and holds a large cash and investment balance to fund its growth and expansion plans.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$682K
Revenue reported for the fiscal year.
Operating income
-$51.1M
Income from operations reported for the year.
Net income
-$18.7M
Net income reported for the year.
Operating cash flow
-$30.3M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $135.6K | n/a |
| Dec 31, 2023 | $358K | +163.9% |
| Dec 31, 2024 | $373K | +4.2% |
| Dec 31, 2025 | $682K | +82.8% |
Business overview
The company focuses on developing non-linear quantum optical products and photonics chips, and offers Foundry Services including chip manufacturing. It also operates the AZ Chips Facility and plans to expand or acquire a high-volume chip manufacturing facility.
Financial performance
Revenue grew substantially compared to the prior year, but operating income and net income remained deeply negative. Operating cash flow was also negative, reflecting ongoing investment in research, development, and scaling activities.
Material risks
The company has incurred net losses and negative cash flows from operations since inception and expects to continue incurring losses and higher operating expenses. It will require significant cash for expansion of its chip facilities and ongoing research and development.
Liquidity and capital
The company raised net proceeds through a private placement of equity and has no lines of credit or short-term debt. Management believes existing cash, cash equivalents, and investments are sufficient for at least the next twelve months.
What to watch
Monitor the company's progress in expanding or acquiring a high-volume chip manufacturing facility and its impact on cash burn.