Filing Flows › Quantum Computing (QUBT) › Q3 2025
Quantum Computing (QUBT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 14, 2025
Quantum Computing (QUBT) reported revenue of $384K for the third quarter 2025 (Q3 2025), +280% from a year earlier and +530% from the quarter before.
Quantum Computing, Q3 2025: revenue $384K (+280% year over year), net earnings $2.4M, operating cash flow −$8.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $384K | +530% | +280% |
| Operating profit | −$10.4M | — | — |
| Net earnings | $2.4M | — | — |
| Operating cash flow | −$8.7M | — | — |
What changed
Revenue was $384K in Q3 2025, up 280% year over year and up 530% from the previous quarter.
Gross margin was 32.8%, up 23.9 points from a year earlier. Operating costs exceeded revenue by $10.4M, an operating margin of -2709.4%. Operating expenses grew 93% against revenue growth of 280%. The fastest-growing cost line was Research & development (+101%). Net earnings were $2.4M. The effective tax rate was 0.0%. Non-operating items added $12.8M, 537% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$8.7M. Non-cash charges added back $1.2M of depreciation and amortization and $3.1M of share-based compensation. Working capital and other items used $15.4M. Capital expenditures of $2.8M exceeded it, leaving free cash flow of −$11.5M.
Questions
What was Quantum Computing's revenue in the third quarter 2025?
Quantum Computing (QUBT) reported revenue of $384K for the third quarter 2025 (Q3 2025), +280% from a year earlier and +530% from the quarter before.
Source: Quantum Computing 10-Q on SEC EDGAR.