QCI Q1 Revenue Soars 9,370% to $3.7M; Loss Widens

Quantum Computing Inc. reported revenue of $3.691 million for the quarter ended March 31, 2026, a 9,370% increase from $39,000 in Q1 2025. The company consolidated the results of two acquisitions completed in early 2026: Luminar Semiconductor and NuCrypt.

Organic revenue for the quarter, excluding the acquired businesses, was $24,000. Consolidated revenue reflects the inclusion of Luminar Semiconductor, which develops photonic chips, and NuCrypt, which sells quantum-safe encryption products.

Operating expenses rose to $19.8 million in Q1 2026, up 139% from $8.3 million a year earlier. The increase was driven by higher personnel costs and transaction-related charges tied to integrating the acquired companies. The company posted a net loss of $4.1 million, or $0.02 per share, in Q1 2026, compared with net income of $17 million, or $0.13 per share, in Q1 2025. On a simple ratio basis, QCI recorded about $5.36 in operating costs for every dollar of revenue in the quarter.

QCI held $1.4 billion in cash and investments at quarter end, down from $1.5 billion at Dec. 31, 2025. The company recorded $13.5 million in interest income in Q1 2026, up from $1.7 million in the year-ago quarter. Interest income for the period exceeded reported operating revenue by nearly four times.

The reported figures include the consolidated results of Luminar Semiconductor and NuCrypt alongside QCI’s legacy operations. Financial results for each business will be reflected in future reporting as integration proceeds.