Quantum Computing Inc. QUBT
computational performance in information processing. The recent emergence of artificial intelligence ("AI"), large language
models ("LLMs"), and machine learning ("ML") algorithms has added to the need for efficient processing of vast
volumes of data. Classical computers, or the computers that are currently used in home and office settings, that use silicon microprocessors
are understood to have performance limitations in solving certain classes of computational problems, in particular, large-scale optimization
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $682.0K | $373.0K | $358.0K | $136.0K | — | — | — | — | — |
| Cost of revenue | $615.0K | $261.0K | $196.0K | $61.0K | — | — | — | — | — |
| Gross profit | $67.0K | $112.0K | $162.0K | $75.0K | — | — | — | — | — |
| R&D | $20.5M | $11.3M | $8.9M | $5.2M | $2.6M | $1.5M | $891.1K | $250.6K | — |
| SG&A | $27.2M | $12.9M | $15.7M | $21.4M | $1.6M | $2.2M | — | — | — |
| Total operating expenses | $51.1M | $26.0M | $26.4M | $28.7M | $17.1M | $17.3M | $2.5M | $5.8M | $175.0K |
| Operating income | -$51.1M | -$25.9M | -$26.2M | -$28.6M | -$17.1M | -$17.3M | -$2.5M | -$5.8M | -$175.0K |
| Interest expense | $65.0K | $2.5M | $1.6M | $772.0K | — | — | — | — | — |
| Pre-tax income | -$18.7M | -$68.5M | -$27.0M | -$26.0M | — | — | — | — | — |
| Net income | -$18.7M | -$68.5M | -$27.9M | -$38.6M | -$27.9M | -$24.7M | -$8.4M | -$10.5M | -$175.0K |
| EPS, basic | -0.11 | -0.73 | -0.42 | -0.73 | -0.96 | — | — | — | — |
| EPS, diluted | -0.11 | -0.73 | -0.42 | -0.73 | -0.96 | -0.88 | -1.14 | -2.22 | -0.19 |
| Shares, diluted (wtd. avg.) | $164.5K | $93.9K | $66.6K | $36.7M | $29.2M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $737.9M | $78.9M | $2.1M | $5.3M | $16.7M | $15.2M | $101.1K | $1.8M | — |
| Short-term investments | $379.4M | — | — | — | — | — | — | — | — |
| Receivables | $519.0K | $27.0K | $65.0K | $13.0K | — | — | — | — | — |
| Inventory | $352.0K | $18.0K | $73.0K | — | — | — | — | — | — |
| Total current assets | $1.13B | $79.2M | $2.7M | $5.5M | $17.2M | — | — | — | — |
| Property, plant and equipment | $13.0M | $8.2M | $2.9M | $975.0K | $41.3K | $31.0K | $25.6K | $6.9K | — |
| Goodwill | $55.6M | $55.6M | $55.6M | $55.6M | — | — | — | — | — |
| Other intangibles | $6.5M | $9.0M | $12.1M | $15.2M | — | — | — | — | — |
| Total assets | $1.62B | $153.6M | $74.4M | $78.5M | $17.3M | $15.3M | $148.2K | $1.8M | — |
| Accounts payable | $778.0K | $1.4M | $1.5M | $872.0K | $464.9K | $366.7K | $218.3K | $54.0K | $1.5K |
| Short-term debt | — | — | $1.9M | $535.7K | — | — | — | — | — |
| Total current liabilities | $11.1M | $4.6M | $4.8M | $4.6M | $1.1M | — | — | — | — |
| Long-term debt | — | — | — | $7.9M | — | — | — | — | — |
| Total liabilities | $20.7M | $46.3M | $5.7M | $13.4M | $1.1M | $693.2K | $3.0M | $3.3M | $1.5K |
| Retained earnings | -$219.2M | -$200.5M | -$131.9M | -$104.1M | -$81.4M | -$53.5M | -$28.8M | -$20.4M | -$9.9M |
| Total equity | $1.60B | $107.3M | $68.7M | $65.1M | $15.0M | $14.6M | -$2.8M | -$1.5M | -$1.5K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$30.3M | -$16.2M | -$18.3M | -$15.4M | -$6.8M | -$11.5M | -$2.2M | -$2.4M | — |
| Depreciation and amortisation | $1.9M | $694.0K | $203.0K | $52.0K | — | — | — | $44.7K | — |
| Stock-based compensation | $8.7M | $5.8M | $4.3M | $9.3M | $10.2M | $11.2M | $214.9K | $4.0M | — |
| Capital expenditure | $6.7M | $6.0M | $2.1M | $870.0K | $19.4K | $12.0K | $21.3K | $7.0K | — |
| Investing cash flow | -$788.3M | -$6.0M | -$2.6M | -$2.2M | -$22.5K | -$12.0K | -$21.3K | -$7.0K | — |
| Financing cash flow | $1.48B | $99.1M | $17.7M | $6.2M | $8.4M | $26.6M | $599.0K | $4.1M | — |
| Dividends paid | — | $215.0K | $865.0K | $787.0K | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-050296.
Others in SIC 7372
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP | $3.71T | 27.8x | 17.8% |
| ORCL | ORACLE CORP | $457.36B | 27.2x | 17.3% |
| PLTR | Palantir Technologies Inc. | $418.36B | 276.7x | 56.2% |
| CRWD | CrowdStrike Holdings, Inc. | $218.20B | — | 21.7% |
| CRM | Salesforce, Inc. | $213.35B | 33.2x | 9.6% |
| SHOP | SHOPIFY INC. | $187.92B | 154.4x | 30.1% |
| NOW | ServiceNow, Inc. | $146.06B | 84.6x | 20.9% |
| SNOW | Snowflake Inc. | $118.96B | — | 29.2% |