Quantum Computing Inc. stock research
FY2025 Q1
Quantum Computing (QUBT) Gross Margin — Quarter Ended Mar 31, 2025
Revenue and gross profit declined from the prior quarter, while cost of revenue decreased only slightly, resulting in a lower gross margin. Compared with the same quarter one year earlier, revenue and gross profit were higher, cost of revenue increased, and gross margin weakened.
Gross margin takeaway
Quarter ended Mar 31, 2025 · FY2025 Q1
Revenue and gross profit declined from the prior quarter, while cost of revenue decreased only slightly, resulting in a lower gross margin. Compared with the same quarter one year earlier, revenue and gross profit were higher, cost of revenue increased, and gross margin weakened.
- The most observable driver this quarter is the relationship between revenue and cost of revenue. Revenue dropped meaningfully while cost of revenue held relatively steady, which directly compressed gross margin.
- Sequentially, all three core metrics—revenue, gross profit, and gross margin—declined, with revenue falling more sharply than cost of revenue. Year over year, all metrics improved, though gross margin remained below the year-ago level.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
33.3%
Gross profit
$13000
Revenue
$39000
Cost of revenue
$26000
Quarter-over-quarter change
-21.5 pts
Year-over-year change
-7.4 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, 2024 | $183000 | $58000 | $125000 | 31.7% |
| Sep 30, 2024 | $101000 | $9000 | $92000 | 8.9% |
| Dec 31, 2024 | $62000 | $34000 | $28000 | 54.8% |
| Mar 31, 2025 | $39000 | $13000 | $26000 | 33.3% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2024
-21.5 pts
Year-over-year change
Mar 31, 2024
-7.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver this quarter is the relationship between revenue and cost of revenue. Revenue dropped meaningfully while cost of revenue held relatively steady, which directly compressed gross margin.
Sequentially, all three core metrics—revenue, gross profit, and gross margin—declined, with revenue falling more sharply than cost of revenue. Year over year, all metrics improved, though gross margin remained below the year-ago level.
Monitor whether cost of revenue continues to remain at elevated levels relative to revenue, as this pattern has directly affected gross margin in the current quarter.