Quantum Computing Inc. stock research
FY2024 Q2
Quantum Computing (QUBT) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin weakened from both the preceding quarter and the year-ago period, as cost of revenue grew faster than revenue.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin weakened from both the preceding quarter and the year-ago period, as cost of revenue grew faster than revenue.
- The strongest observable margin driver is the relationship between revenue and cost of revenue. Revenue increased substantially from the prior quarter, but cost of revenue rose even more, causing gross margin to decline.
- Compared to the immediately preceding quarter, revenue was higher and gross profit was higher, but gross margin was lower. Compared to the same quarter one year earlier, revenue was higher and gross profit was slightly lower, while gross margin was lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
31.7%
Gross profit
$58000
Revenue
$183000
Cost of revenue
$125000
Quarter-over-quarter change
-9.0 pts
Year-over-year change
-22.8 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 |
|---|---|---|---|---|
| Sep 30, 2023 | $50000 | $26000 | $24000 | 52.0% |
| Dec 31, 2023 | $75000 | $10000 | $65000 | 13.3% |
| Mar 31, 2024 | $27000 | $11000 | $16000 | 40.7% |
| Jun 30, 2024 | $183000 | $58000 | $125000 | 31.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
-9.0 pts
Year-over-year change
Jun 30, 2023
-22.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the relationship between revenue and cost of revenue. Revenue increased substantially from the prior quarter, but cost of revenue rose even more, causing gross margin to decline.
Compared to the immediately preceding quarter, revenue was higher and gross profit was higher, but gross margin was lower. Compared to the same quarter one year earlier, revenue was higher and gross profit was slightly lower, while gross margin was lower.
Monitor the trend in cost of revenue relative to revenue, as its faster growth has compressed gross margin in the current quarter.