Quantum Computing Inc. Reports Significant Revenue Decline and Increased Losses in Q2 2025

Quantum Computing Inc. (QCi) reported its financial results for the second quarter of 2025, revealing a total revenue of $61,000 for the three months ended June 30, a significant decrease from $183,000 in the same period last year. For the first half of 2025, revenue totaled $100,000, down from $210,000 in the first half of 2024. The company incurred a net loss of $36.5 million for the second quarter, compared to a loss of $5.2 million in the prior year, reflecting a substantial increase in operating expenses, which rose to $10.2 million from $5.3 million year-over-year.

The financial performance indicates a notable shift in QCi's operations, particularly in research and development expenses, which surged to $6.0 million in the second quarter from $2.1 million a year earlier. This increase is part of the company's strategy to enhance its product offerings, particularly in quantum computing technologies. The company also reported a significant rise in general and administrative expenses, which reached $3.5 million, up from $2.8 million in the same quarter of 2024. The increase in expenses contributed to a loss from operations of $10.2 million for the quarter.

In terms of operational developments, QCi's total assets increased to $426.1 million as of June 30, 2025, compared to $153.6 million at the end of 2024. This growth was primarily driven by a substantial increase in cash and cash equivalents, which rose to $348.8 million from $78.9 million, following the issuance of 22.2 million shares of common stock for net proceeds of $281.6 million. The company’s accumulated deficit also widened to $220.0 million, reflecting ongoing investments in technology and product development.

QCi's strategic focus includes the development of its Entropy Quantum Computing (EQC) technology and the integration of its software platform, Qatalyst, with hardware applications. The company aims to enhance its market position by emphasizing scalability and affordability in its quantum computing solutions. As of June 30, 2025, QCi reported a total of 157,911 shares of common stock outstanding, an increase from 129,012 shares at the end of 2024, indicating a potential expansion in shareholder base and capital resources.

Looking ahead, QCi remains optimistic about its growth trajectory, supported by its strong cash position and ongoing product development initiatives. The company has indicated that it has sufficient liquidity to meet its operational needs over the next 12 months, despite the challenges posed by market conditions and the need for continued investment in research and development. The management's forward-looking statements suggest a commitment to advancing its technology and expanding its market presence in the evolving field of quantum computing.