Quantum Computing Inc. announced the debut of Neurawave, a photonics‑based reservoir computing system, at the upcoming SuperCompute25 conference in St. Louis. Neurawave is built on a standard PCIe interface, operates at room temperature, and is designed for edge‑AI applications such as signal processing, time‑series forecasting, and pattern recognition.
The company also reported its Q3 2025 financial results, showing revenue of $384,000—an increase of 280% from $101,000 in Q3 2024—and a net income of $2.4 million, or $0.01 per basic share, compared with a loss of $5.7 million, or $0.06 per share, in the prior year. The earnings beat was driven by a 280% revenue surge that stemmed from higher demand for research and development services, custom hardware contracts, and the beginning of revenue recognition for cloud‑based access to its Dirac‑3 quantum optimization system. The swing to profitability was largely attributable to a $9.2 million gain from the mark‑to‑market of a derivative liability and $3.5 million in interest income.
Qubt’s balance sheet strengthened markedly, ending Q3 2025 with $352.4 million in cash and cash equivalents and $461 million in investments. The company subsequently raised an additional $750 million, bringing total liquidity to more than $1.5 billion. This robust cash position provides the resources needed to accelerate product development, scale manufacturing, and pursue strategic opportunities.
Gross margin for the quarter rose to 33% from 9% in Q3 2024, reflecting a higher mix of high‑margin services and improved operational leverage. While the margin expansion signals pricing power and efficient cost management, the company cautions that margin variability can persist at the current revenue level.
CEO Dr. Yuping Huang highlighted the company’s integrated photonic approach as a key differentiator, emphasizing the goal of delivering practical, scalable quantum and photonic solutions that align with industry standards. He noted that the Neurawave launch marks a significant milestone in the company’s roadmap to bring photonic computing into real‑world systems, while also showcasing on‑cloud demonstrations of the Dirac‑3 quantum computer at SuperCompute25. The company does not report any major headwinds, but acknowledges that scaling production and achieving widespread market adoption remain long‑term challenges.
Investors responded positively to the announcement, citing the strong earnings beat, the company’s solid cash position, and the progress demonstrated by the Neurawave launch as evidence of Qubt’s continued trajectory toward practical quantum and photonic technologies.
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