Quantum Computing (NASDAQ:QUBT) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Quantum Computing (NASDAQ:QUBT) announced its earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03, FiscalAI reports. The business had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $3.13 million.

Here are the key takeaways from Quantum Computing’s conference call:

• Completed acquisitions of Luminar Semiconductor (LSI) and NuCrypt, adding lasers, detectors, advanced packaging, patents, and customers (including NASA and U.S. Army Research Lab) to accelerate vertical integration and photonics/quantum communications capabilities.
• Financially strong with $1.4 billion in cash and investments, elevated interest income ($13.5M in Q1), and a contract backlog of $16 million, providing runway to fund growth and integration activities.
• Q1 operating expenses rose to $19.8 million (from $8.3M) and the company reported a net loss of $4.1 million, driven by added headcount and roughly $6M of M&A-related G&A, which compressed margins and increased near-term cash burn.
• Fab One in Tempe is ramping small-batch R&D manufacturing and generating early revenue but is positioned mainly for validation; management is planning a larger Fab Two to enable volume production and scalable manufacturing.
• Technology progress includes the first commercial data-center installation of a Dirac-3 on Quantum Corridor and ongoing gate-based photonics work — management says one final engineering hurdle (raising micro?ring resonator Q?factor to >10M from ~2M) remains before prototyping and potential multi-year scaling.

Quantum Computing Stock Up 6.0%

Quantum Computing stock traded up $0.58 during midday trading on Monday, reaching $10.18. The stock had a trading volume of 28,952,377 shares, compared to its average volume of 13,966,098. Quantum Computing has a 52-week low of $6.18 and a 52-week high of $25.84. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -67.87 and a beta of 3.70. The company has a fifty day moving average of $7.98 and a 200 day moving average of $10.30.

Insiders Place Their Bets

In related news, CFO Christopher Bruce Roberts sold 9,360 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total value of $73,476.00. Following the sale, the chief financial officer directly owned 1,123,038 shares of the company’s stock, valued at $8,815,848.30. This represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.30% of the stock is owned by company insiders.

Institutional Trading of Quantum Computing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marex Group plc raised its position in Quantum Computing by 255.6% in the 4th quarter. Marex Group plc now owns 8,272,153 shares of the company’s stock worth $84,872,000 after purchasing an additional 5,945,679 shares during the period. Alyeska Investment Group L.P. bought a new position in Quantum Computing in the 3rd quarter worth about $123,014,000. Geode Capital Management LLC grew its stake in Quantum Computing by 45.5% in the 4th quarter. Geode Capital Management LLC now owns 4,565,192 shares of the company’s stock worth $46,846,000 after acquiring an additional 1,428,120 shares in the last quarter. State Street Corp grew its stake in Quantum Computing by 44.1% in the 4th quarter. State Street Corp now owns 4,344,023 shares of the company’s stock worth $44,570,000 after acquiring an additional 1,329,433 shares in the last quarter. Finally, Defiance ETFs LLC bought a new position in Quantum Computing in the 4th quarter worth about $33,071,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on QUBT shares. Wall Street Zen cut shares of Quantum Computing from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Northland Securities started coverage on shares of Quantum Computing in a research report on Monday, April 20th. They set an “outperform” rating and a $20.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research report on Friday, March 27th. Finally, Cantor Fitzgerald decreased their target price on shares of Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.50.

Quantum Computing Company Profile

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.