How QUBT (Quantum Computing) Makes Money in 2026: A Deep-Dive With Income Statement

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Understanding how a quantum computing technology company like Quantum Computing Inc. (QUBT) makes money is essential for investors and anyone interested in the business of quantum technology. In this post, we break down Quantum Computing Inc.'s quarterly income statement (Q3 2025) using a Sankey chart to visualize the financial flows — what comes in, where it goes, and what's left as profit.

Quick Quantum Computing Inc. Overview

Quantum Computing Inc. operates as a quantum computing technology company developing integrated photonics and quantum optics solutions for applications in high-performance computing, artificial intelligence, cybersecurity, and remote sensing. Revenue comes primarily from sales of quantum machines, software, and related services in the emerging quantum tech sector. As an early-stage innovator, the company focuses on R&D-intensive growth without detailed segment breakdowns in the latest data.

Revenue Breakdown

• Total Revenue (Q3 2025): $0.384M (+280.2% YoY)
  • No detailed segment breakdowns available; revenue stems from quantum hardware, software, and services.
  • Growth is powered by increasing demand for quantum computing solutions and early commercialization efforts.

Gross Profit and Margins

• Gross Profit: $0.126M (32.8% gross margin)
  • Cost of Revenue: $0.258M (+180.4% YoY)
  • Quantum Computing Inc. maintains moderate margins due to scaling production of quantum optics hardware amid high R&D demands in a nascent industry.
• Most costs come from manufacturing and materials for quantum machines.

Operating Income and Expenses

• Operating Income: Not specified (implied negative due to high expenses exceeding gross profit)
• Operating Expenses: $10.500M (+93.3% YoY)
  • R&D: $4.509M (+100.9% YoY, 1174.2% of revenue) — investments in quantum chip development, photonics integration, and algorithm optimization for future scalability
  • SG&A: $6.021M (+88.0% YoY, 1568.0% of revenue) — sales expansion, administrative scaling, and marketing for quantum tech adoption
  • Quantum Computing Inc. continues to prioritize innovation while expanding operations in a capital-intensive quantum sector.

Net Income

• Pre-Tax Income: Not specified
• Income Tax: Not specified (0% effective tax rate implied)
• Net Income: -$2.356M (+0.0% YoY, -613.5% net margin)
• Quantum Computing Inc. converts a negative portion of sales into profit due to heavy R&D and scaling investments outweighing revenue in this growth phase.

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What Drives Quantum Computing Inc.'s Money Machine?

• Quantum hardware and software sales: 100% of revenue / early-stage sales from photonics-based quantum machines and optimization tools.
• R&D intensity: 1174% of revenue invested, fueling proprietary quantum tech advancements.
• Quantum optics investments: Focus on integrated systems for AI and cybersecurity applications.
• Future growth areas: Commercial quantum-as-a-service and enterprise software, though not yet profitable.

Visualizing Quantum Computing Inc.'s Financial Flows

The Sankey chart below visualizes how each dollar flows from gross revenue, through costs and expenses, down to net income. This helps investors spot where value is created, what areas weigh on profits, and how efficiently the company operates.

• Most revenue flows into gross profit, with operating expenses (especially R&D and SG&A) taking the largest chunk.
• Even after significant investments, -613.5% of revenue drops to the bottom line.

Key Takeaways

• Quantum Computing Inc.'s money comes overwhelmingly from quantum hardware and software sales
• High gross and negative net margins illustrate the power of Quantum Computing Inc.'s R&D-heavy innovation model
• Heavy investment in quantum technology development, balanced by efficiency in gross margins
• Ongoing growth is driven by quantum computing market expansion and 280% revenue surge

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FAQ About Quantum Computing Inc.'s Income Statement

1. What is the main source of Quantum Computing Inc.'s revenue in 2025?

Quantum Computing Inc. generates over 100% of its revenue from quantum hardware, software, and services. No significant secondary sources detailed.

2. How profitable is Quantum Computing Inc. in Q3 2025?

Quantum Computing Inc. reported net income of -$2.356M in Q3 2025, with a net margin of approximately -613.5%, reflecting moderate profitability challenges driven by explosive R&D and operating expense growth.

3. What are the largest expense categories for Quantum Computing Inc.?

The biggest expenses on Quantum Computing Inc.'s income statement are operating expenses, particularly Research & Development (R&D) and Sales, General & Administrative (SG&A) costs. R&D investment reached $4.509M in Q3 2025, as Quantum Computing Inc. prioritizes quantum photonics and chip development.

4. Why does the core business operate at a loss?

The core quantum operations, despite generating $0.384M in revenue, posted an operating loss exceeding gross profit due to aggressively investing in R&D $4.509M and SG&A $6.021M, believing these will drive long-term growth—even if unprofitable today.

5. How does Quantum Computing Inc.'s effective tax rate compare to previous years?

Quantum Computing Inc.'s effective tax rate in Q3 2025 was 0%, consistent with previous years. This low rate is primarily due to net operating losses and R&D tax credits in the quantum tech sector.