Quantum Computing Inc. stock research
FY2026 Q1
Quantum Computing (QUBT) Gross Margin — Quarter Ended Mar 31, 2026
Revenue increased substantially compared to both the prior quarter and the same quarter last year. Gross profit turned negative from a positive figure a year ago, and gross margin weakened significantly versus both comparison periods.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue increased substantially compared to both the prior quarter and the same quarter last year. Gross profit turned negative from a positive figure a year ago, and gross margin weakened significantly versus both comparison periods.
- Cost of revenue grew faster than revenue, causing gross profit to decline and gross margin to become negative. The relationship between revenue and cost of revenue is the primary observable factor in the margin change.
- Compared to the immediately preceding quarter, revenue was higher and gross margin improved from a negative level. Compared to the same quarter one year earlier, revenue was higher but gross margin weakened from a positive to a negative figure.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
-19.5%
Gross profit
-$721000
Revenue
$3.7M
Cost of revenue
$4.4M
Quarter-over-quarter change
+30.0 pts
Year-over-year change
-52.9 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 |
|---|---|---|---|---|
| Jun 30, 2025 | $61000 | $26000 | $35000 | 42.6% |
| Sep 30, 2025 | $384000 | $126000 | $258000 | 32.8% |
| Dec 31, 2025 | $198000 | -$98000 | $296000 | -49.5% |
| Mar 31, 2026 | $3.7M | -$721000 | $4.4M | -19.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+30.0 pts
Year-over-year change
Mar 31, 2025
-52.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Cost of revenue grew faster than revenue, causing gross profit to decline and gross margin to become negative. The relationship between revenue and cost of revenue is the primary observable factor in the margin change.
Compared to the immediately preceding quarter, revenue was higher and gross margin improved from a negative level. Compared to the same quarter one year earlier, revenue was higher but gross margin weakened from a positive to a negative figure.
Monitor the trajectory of cost of revenue relative to revenue, as the gap between them drove the negative gross margin this quarter.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Quantum Computing Inc. (QUBT) | -19.5% |