# QCi's Q3 revenue rises to $9.5 million from $384,000 a year earlier > The three businesses QCi bought in 2026 sold $8.8 million in the third quarter under QCi, against $13.9 million a year earlier under their former owners. - Published: 2026-11-09 - Publisher: Many Worlds, published by Many Worlds Capital (https://news.manyworlds.vc/) - Canonical: https://news.manyworlds.vc/news/qci-q3-2026-results/ - Answers: Quantum Computing Inc QUBT Q3 2026 results - Tickers: QUBT - Topics: earnings, public-markets, m-and-a, photonic --- ## Main takeaways - Quantum Computing Inc. (QUBT) reported third-quarter revenue of $9.5 million, up from $384,000 a year earlier. Three businesses bought in 2026 brought in $8.8 million. - Under their former owners, the same three businesses sold $13.9 million in the third quarter of 2025, the filing's pro forma table shows. - The operating loss was $28.6 million. Interest and other income of $13.0 million cut the net loss to $15.1 million. - Cash, cash equivalents and investments were about $1.3 billion on September 30, against about $1.5 billion at the end of 2025. - Next: NHanced's sellers can get up to $92.0 million more on 2027 and 2028 targets. QCi values that at $23.8 million. Quantum Computing Inc. (QUBT), which calls itself QCi, reported third-quarter revenue of $9.5 million, up from $384,000 a year earlier, in a [results release](https://www.sec.gov/Archives/edgar/data/1758009/000162828026072163/q3-26earningspressreleasex.htm) furnished with an 8-K on November 9. Its [quarterly filing](https://www.sec.gov/Archives/edgar/data/1758009/000162828026072119/qubt-20260930.htm), filed the same day, shows $8.8 million of it came from three businesses bought in the first half of 2026. QCi develops quantum machines and chips that compute with light and, it says, run at room temperature. With the acquisitions it also sells photonic components and chip packaging, the release said. The three deals, as the filing describes them: - Luminar Semiconductor (LSI), bought from Luminar Technologies for $110.0 million in cash, closed on February 2. - NuCrypt, a quantum communications company, bought for $2.5 million in cash and 250,000 shares, closed on March 4. - NHanced Semiconductors, a chip fabrication and packaging company, closed on June 22 for $48.1 million in cash, $20.0 million placed in escrow and $5.0 million in shares. The escrow is paid to the sellers only if NHanced meets revenue targets, and up to $72.0 million more depends on revenue and EBITDA targets, all measured on December 31, 2027 and 2028. In all, QCi paid $168.8 million in cash for acquisitions in nine months, the main reason cash, cash equivalents and investments fell to about $1.3 billion on September 30 from about $1.5 billion at the end of 2025. Gross profit for the quarter was $428,000, a gross margin of 4.5%, so the products cost almost as much to make as they sold for. Operating expenses rose to $29.0 million from $10.5 million, $6.4 million of it from the acquired businesses. The operating loss was $28.6 million. Interest and other income of $13.0 million, earned on the company's cash and investments, brought the net loss to $15.1 million, or $0.07 a share. The release put contract backlog, the value of work under signed contracts, at about $39.1 million on September 30. ## How much did the acquired companies sell before QCi owned them? A pro forma table in the filing treats the three companies as owned since January 1, 2025. In the third quarter of 2025, under their former owners, they sold $13.9 million: $9.3 million from NHanced, $4.2 million from LSI and $0.4 million from NuCrypt. NHanced, the largest, contributed $3.9 million of revenue and an operating loss of $2.6 million from June 22, when QCi bought it, to September 30, a period slightly longer than a quarter. ## Why it matters - Company: Quantum Computing Inc. (QUBT), valued at about $1.56 billion at the November 9 Nasdaq close of $6.86 (Yahoo Finance), on the 226.9 million shares outstanding on November 6. - Results depend on the cash pile: the business makes almost no gross profit, and interest income is what keeps the loss down, so the bottom line moves with the cash balance and interest rates more than with sales. - The acquired businesses sold less under QCi than under their former owners. NHanced's sellers get the $20.0 million escrow and the up to $72.0 million earn-out only if it hits revenue and EBITDA targets. QCi itself values the two together at $23.8 million, about a quarter of the $92.0 million maximum. - QCi says its cash covers at least the next 12 months and that it may raise capital opportunistically. It has not announced a date for its fourth-quarter results. **The Many Worlds Team** Last checked 2026-11-12 ## Sources - Quantum Computing Inc., third-quarter 2026 results release (Exhibit 99.1), November 9, 2026: https://www.sec.gov/Archives/edgar/data/1758009/000162828026072163/q3-26earningspressreleasex.htm - Quantum Computing Inc., Form 8-K filed November 9, 2026: https://www.sec.gov/Archives/edgar/data/1758009/000162828026072163/qubt-20261109.htm - Quantum Computing Inc., Form 10-Q for the quarter ended September 30, 2026, filed November 9, 2026: https://www.sec.gov/Archives/edgar/data/1758009/000162828026072119/qubt-20260930.htm --- Many Worlds Capital invests in quantum companies and may hold positions in companies mentioned here. This is information, not investment advice. 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