Quantum Computing Inc. stock research
FY2025 Q3
Quantum Computing (QUBT) Gross Margin — Quarter Ended Sep 30, 2025
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Cost of revenue also rose, but gross margin weakened from the prior quarter while improving from the year-ago period.
Gross margin takeaway
Quarter ended Sep 30, 2025 · FY2025 Q3
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Cost of revenue also rose, but gross margin weakened from the prior quarter while improving from the year-ago period.
- The strongest observable margin driver is the relationship between revenue and cost of revenue. Revenue grew substantially from the prior quarter, while cost of revenue increased at a slower pace, supporting gross profit growth.
- Compared to the immediately preceding quarter, gross margin was lower, despite higher revenue and gross profit. Compared to the same quarter one year earlier, gross margin was higher, with revenue and gross profit both improved.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
32.8%
Gross profit
$126000
Revenue
$384000
Cost of revenue
$258000
Quarter-over-quarter change
-9.8 pts
Year-over-year change
+23.9 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 |
|---|---|---|---|---|
| Dec 31, 2024 | $62000 | $34000 | $28000 | 54.8% |
| Mar 31, 2025 | $39000 | $13000 | $26000 | 33.3% |
| Jun 30, 2025 | $61000 | $26000 | $35000 | 42.6% |
| Sep 30, 2025 | $384000 | $126000 | $258000 | 32.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2025
-9.8 pts
Year-over-year change
Sep 30, 2024
+23.9 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 grew substantially from the prior quarter, while cost of revenue increased at a slower pace, supporting gross profit growth.
Compared to the immediately preceding quarter, gross margin was lower, despite higher revenue and gross profit. Compared to the same quarter one year earlier, gross margin was higher, with revenue and gross profit both improved.
Monitor the trend in cost of revenue relative to revenue, as its growth rate may affect future gross margin stability.