Quantum Computing (QUBT) investor relations material

Executive summary

• Q2 2026 revenue surged to $5.6 million from $61 thousand in Q2 2025, reflecting rapid commercial traction in quantum and photonics technologies and driven by acquisitions of LSI, NuCrypt, and NHanced.

• Completed three major acquisitions—Luminar Semiconductor, NuCrypt, and NHanced Semiconductors—expanding commercialization, technical, and manufacturing capacities.

• Launched Fab 2 facility and expanded U.S.-based semiconductor manufacturing and foundry services, including the Arizona Chips Facility.

• Achieved commercial milestones with the delivery of the Dirac-3 quantum optimization machine, a $10M+ framework agreement for NeuraWave systems, and new orders in quantum secure communications.

• Ended the quarter with $1.3 billion in cash, cash equivalents, and investments, supporting ongoing integration and expansion.

Financial highlights

• Q2 2026 revenue was $5.6 million, up from $61 thousand in Q2 2025 and $3.7 million in Q1 2026; H1 2026 revenue was $9.2 million.

• Operating expenses rose to $21.8 million, up 114% year-over-year, mainly due to increased R&D, payroll, and $7.3 million in acquisition-related costs.

• Net loss narrowed to $11.8 million ($0.05/share) from $36.5 million ($0.26/share) in Q2 2025, aided by higher revenue and lower derivative liability losses.

• Interest and other income increased to $13 million from $1.8 million year-over-year, reflecting larger cash and investment balances.

• Cash, equivalents, and investments were $1.3 billion as of June 30, 2026, down from $1.5 billion at year-end 2025, reflecting acquisition expenditures.

Outlook and guidance

• Focused on integrating acquisitions, scaling commercial manufacturing, and investing in technology and sales to meet growing demand.

• No formal revenue guidance, but expects NHanced to contribute between $7M and $16M for the year, with QCi pre-acquisition revenue projected at $20M–$25M.

• Backlog of $42.5 million as of June 30, 2026, expected to support operations into Q3 2027.

• Management expects continued investment in R&D and go-to-market programs, with higher operating expenses and net losses anticipated in the near term.

• The company believes existing cash and investments are sufficient for at least the next 12 months.