Quantum Computing Inc. stock research
FY2024 Q1
Quantum Computing (QUBT) Gross Margin — Quarter Ended Mar 31, 2024
Revenue and cost of revenue both declined from the prior quarter, but cost of revenue fell more sharply, resulting in a higher gross profit and an improved gross margin. Compared to the same quarter last year, revenue and gross profit were lower, and gross margin weakened.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue and cost of revenue both declined from the prior quarter, but cost of revenue fell more sharply, resulting in a higher gross profit and an improved gross margin. Compared to the same quarter last year, revenue and gross profit were lower, and gross margin weakened.
- The strongest observable margin driver is the proportionally larger decrease in cost of revenue relative to revenue, which lifted gross margin despite lower revenue.
- Gross margin improved sequentially from the prior quarter but declined compared to the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
40.7%
Gross profit
$11000
Revenue
$27000
Cost of revenue
$16000
Quarter-over-quarter change
+27.4 pts
Year-over-year change
-13.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2023 | $112000 | $61000 | $51000 | 54.5% |
| Sep 30, 2023 | $50000 | $26000 | $24000 | 52.0% |
| Dec 31, 2023 | $75000 | $10000 | $65000 | 13.3% |
| Mar 31, 2024 | $27000 | $11000 | $16000 | 40.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
+27.4 pts
Year-over-year change
Mar 31, 2023
-13.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the proportionally larger decrease in cost of revenue relative to revenue, which lifted gross margin despite lower revenue.
Gross margin improved sequentially from the prior quarter but declined compared to the same quarter one year earlier.
Monitor the trajectory of cost of revenue, as its sharp decline was the primary factor behind the margin improvement.