Quantum Computing Inc. Reports Strong 2025 Financial Results

Company highlights balance sheet expansion, Luminar Semiconductor acquisition, and operational ramp-up of Arizona chip foundry.

Published on Mar. 5, 2026

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Quantum Computing Inc. (QCi) has announced its financial results for the fourth quarter and full year ended December 31, 2025. The company reported a 224.6% sequential increase in Q4 revenue to $198,000 and an 82.8% annual revenue growth to $682,000 for the full year 2025. QCi also achieved a significant reduction in net loss, driven by a $7 million non-cash gain and $13.6 million in interest income from its expanded cash reserves of $1.52 billion following a $750 million private placement.

Why it matters

QCi's strong financial performance and strategic initiatives, including the acquisition of Luminar Semiconductor and the operational launch of its Arizona chip foundry, demonstrate the company's progress in transitioning from research-led projects to industrial-scale manufacturing in the photonics and quantum optics space. This positions QCi to capitalize on growing demand for its products and services in the rapidly evolving quantum computing and advanced optics markets.

The details

QCi reported a 224.6% sequential increase in Q4 2025 revenue to $198,000, driven by hardware sales and services from its newly operational 'Fab 1' facility in Arizona. For the full year 2025, total revenues reached $682,000, an 82.8% increase over 2024. Operating expenses for the year rose to $51.1 million, reflecting a substantial increase in personnel and costs related to M&A activity. The company achieved a notable reduction in GAAP Net Loss to $1.6 million for the quarter, compared to a loss of $51.2 million in Q4 2024, primarily due to a $7 million non-cash gain and $13.6 million in interest income.

  • QCi completed the $110 million all-cash acquisition of Luminar Semiconductor, Inc. subsequent to the fourth quarter.
  • Fab 1, QCi's quantum photonic chip foundry located in Tempe, Arizona, is now operational and contributing revenue through small-batch manufacturing and prototyping.
  • QCi unveiled Neurawave, a new photonics-based reservoir computer, at SuperCompute25.

The players

Quantum Computing Inc. (QCi)

An American company focused on developing photonics and quantum optics technologies, including the operation of a chip foundry in Arizona.

Luminar Semiconductor, Inc.

A company acquired by QCi for $110 million, adding lasers, detectors, and advanced packaging capabilities to QCi's portfolio.

Dr. Yuping Huang

Confirmed as the permanent Chief Executive Officer of QCi, effective January 1, 2026.

Chris Roberts

Appointed as the Chief Financial Officer of QCi.

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What they’re saying

“We are very pleased with our strong financial and operational performance in 2025, which positions us well for continued growth and expansion in the years ahead.”

— Dr. Yuping Huang, Chief Executive Officer (Quantum Computing Report)

What’s next

QCi is already planning 'Fab 2,' a larger facility for high-volume production of its quantum photonic chips, to complement the operational 'Fab 1' facility in Tempe, Arizona.

The takeaway

QCi's successful transition from research-focused projects to industrial-scale manufacturing, bolstered by strategic acquisitions and a strengthened balance sheet, demonstrates the company's ability to capitalize on the growing demand for advanced photonics and quantum computing technologies in the rapidly evolving tech landscape.