Quantum Computing Inc. reported $5.6 million in revenue for the second quarter of 2026. This figure marks a significant increase from the $61,000 reported in the same period last year. The primary driver of this growth is the company's recent series of acquisitions, which contributed $5.1 million to the quarterly total. These additions include Luminar Semiconductor, NuCrypt, and NHanced Semiconductors, marking a shift toward a broader photonics and manufacturing focus.
While revenue has grown, the company continues to manage significant operating costs. QCi recorded a $23 million operating loss for the quarter as it builds out its infrastructure and R&D capabilities. Research and development expenses reached $8.4 million, while general and administrative costs totaled $11.5 million. The firm holds approximately $1.3 billion in cash and investments, providing a runway to support its manufacturing initiatives and ongoing commercialization efforts.
On the product front, QCi delivered a Dirac-3 quantum optimization system to a global consulting firm and reached deployment readiness for its NeuraWave photonic reservoir computing system. The company also signed a framework agreement with Planck Dynamics for potential NeuraWave deployments. These steps signal an effort to move beyond research collaborations and into direct commercial sales for aerospace, government, and industrial markets.
The quarterly report also highlighted internal challenges. Management disclosed material weaknesses in its financial reporting controls, citing the complexities introduced by rapid acquisitions. The company has hired additional accounting staff and initiated new financial procedures, with plans to resolve these issues by the end of 2026. Despite these internal hurdles, the company maintains a $42.5 million contract backlog, which serves as a foundation for future revenue generation as production volumes increase.