QUBT on Nasdaq

Quantum Computing Inc.

Quantum Computing Inc. is an American prepackaged software services company based in Dover.2 Its shares trade on Nasdaq under the symbol QUBT.2

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Last updated Oct 20, 2026.

Overview

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  • TickerQUBT on Nasdaq2
  • IndustryServices-Prepackaged Software2
  • HeadquartersDover, United States2
  • Incorporated inDE3
  • Business address5 Marine View Plz, Suite 214, Hoboken, Nj 070303
  • Filer categoryLarge accelerated filer3
  • Legal formCorporation2
  • LEI529900CDGY17USDW2C302
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o UNITED CORPORATE SERVICES, INC., 800 NORTH STATE STREET SUITE 304, 19901 Dover, United States2
  • Registered withDivision of Corporations, Department of State, 67651512

Patent owned and developed jointly by Northrop Grumman Systems Corporation and Freedom Photonics, LLC, a subsidiary of Luminar.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

9.8%Gross margin6
-7489.3%Operating margin6
-2738.1%Net margin6
82.8%Revenue growth, 20256
-1.2%Return on equity6
-$37.0MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Service brought in 54% of the revenue Quantum Computing Inc. broke down this way in fiscal 2025.

  1. Service$368.0K654%up 6% from 2024
  2. Product$314.0K646%up 1063% from 2024
Products and services by year
Products and services202320242025
Service$353.0K$346.0K$368.0K
Product$5.0K$27.0K$314.0K

Regions

United States brought in 87% of the revenue Quantum Computing Inc. broke down this way in fiscal 2025.

  1. United States$592.0K687%up 59% from 2024
  2. Europe$65.0K610%
  3. Asia$25.0K64%
Regions by year
Regions202320242025
United States$342.0K$373.0K$592.0K
Europe$16.0K$65.0K
Asia$25.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue3¢$615.0K
  • Research and development97¢$20.5M

Out of $682.0K in revenue.6 The company lost money this year.

Financial statements

Revenue76$682.0K in 2025+401% since 2022
0$200.0K$400.0K$600.0K$800.0K2022: $136.0K$136.0K20222023: $358.0K$358.0K2023+163%2024: $373.0K$373.0K2024+4%2025: $682.0K$682.0K2025+83%
Gross profit76$67.0K in 2025−11% since 2022
0$50.0K$100.0K$150.0K$200.0K2022: $75.0K$75.0K20222023: $162.0K$162.0K2023+116%2024: $112.0K$112.0K2024−31%2025: $67.0K$67.0K2025−40%
Operating income891076-$51.1M in 2025+1905% since 2019
-$60.0M-$40.0M-$20.0M02019: -$2.5M-$2.5M20192020: -$17.3M-$17.3M2020+581%2021: -$17.1M-$17.1M2021−1%2022: -$28.6M-$28.6M2022+67%2023: -$26.2M-$26.2M2023−8%2024: -$25.9M-$25.9M2024−1%2025: -$51.1M-$51.1M2025+97%
Net income891076-$18.7M in 2025+123% since 2019
-$80.0M-$60.0M-$40.0M-$20.0M02019: -$8.4M-$8.4M20192020: -$24.7M-$24.7M2020+195%2021: -$27.9M-$27.9M2021+13%2022: -$26.0M-$26.0M2022−7%2023: -$27.0M-$27.0M2023+4%2024: -$68.5M-$68.5M2024+154%2025: -$18.7M-$18.7M2025−73%

Every line of the income statement as filed: the last 3 fiscal years, latest first.6

Period ending2025-12-312024-12-312023-12-31
Total revenue$682.0K$373.0K$358.0K
Cost of revenue$615.0K$261.0K$196.0K
Gross profit$67.0K$112.0K$162.0K
Research and development$20.5M$11.3M$8.9M
Sales and marketing$3.4M$1.8M$1.8M
General and administrative$27.2M$12.9M$15.7M
Total operating expenses$51.1M$26.0M$26.4M
Loss from operations-$51.1M-$25.9M-$26.2M
Interest and other income, net$20.7M$423.0K$295.0K
Interest expense-$65.0K-$2.5M-$1.6M
Change in fair value of derivative liability$11.8M-$40.5M$528.0K
Loss before income tax provision-$18.7M-$68.5M-$27.0M
Net Loss-$18.7M-$68.5M-$27.0M
Less: Series A convertible preferred stock dividends$861.0K
Net loss attributable to common stockholders-$18.7M-$68.5M-$27.9M
Unrealized gain on available-for-sale debt securities (net of tax)$905.0K
Total comprehensive income (loss)-$17.8M-$68.5M-$27.9M
Basic (in Dollars per share)-$0.11-$0.73-$0.42
Diluted (in Dollars per share)-$0.11-$0.73-$0.42
Basic (in Shares)164.5K shares93.9K shares66.6K shares
Diluted (in Shares)164.5K shares93.9K shares66.6K shares

Compare Quantum Computing Inc. with another company

Corporate structure

Quantum Computing Inc. sits at the top of its group. 10 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Quantum Computing Inc.

  • Yuping Huang Filed SCHEDULE 13D/A on Quantum Computing Inc., latest May 28, 2026 (3 filings since Jun 27, 2022)
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on Quantum Computing Inc., latest Mar 27, 2026 (3 filings since Jul 29, 2025)
  • BlackRock Filed SCHEDULE 13G/A on Quantum Computing Inc., latest Jan 21, 2026 (2 filings since Oct 17, 2025)
  • CITADEL ADVISORS LLC Filed SCHEDULE 13G on Quantum Computing Inc., latest Oct 2, 2025
  • Quantum Computing Inc. Dover, Delaware, United States
    • EM4, LLC Subsidiary · Delaware, United States
    • EMFOUR Acquisition Co., LLC Subsidiary · Delaware, United States
    • Freedom Photonics, LLC Subsidiary · California, United States
    • Luminar Semiconductor, Inc. Subsidiary · Delaware, United States
    • Optogration Inc. Subsidiary · Delaware, United States
    • QI Solutions, Inc. Subsidiary · Delaware, United States
    • QPhoton, LLC Subsidiary · Delaware, United States
    • Qubittech International, Inc. Subsidiary · Delaware, United States
    • Qubittech, Inc. Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Quantum Computing Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$15.9M6 Dec 31, 2025$9.2M6 Dec 31, 2024+73.0%
Accumulated depreciation$2.9M6 Dec 31, 2025$966.0K6 Dec 31, 2024+201.2%
Property and equipment, net$13.0M6 Dec 31, 2025$8.2M6 Dec 31, 2024+58.0%
Operating-lease assets (leased space)$2.4M6 Dec 31, 2025$1.5M6 Dec 31, 2024+54.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$737.9M6 Dec 31, 2025$78.9M6 Dec 31, 2024+834.7%
Marketable securities, current$379.4M6 Dec 31, 2025
Debt securities available for sale$782.5M6 Dec 31, 2025
Long-term investments$403.1M6 Dec 31, 2025

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$55.6M6 Dec 31, 2025$55.6M6 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$6.5M6 Dec 31, 2025$9.0M6 Dec 31, 2024−27.6%
Finite-lived intangibles, gross$17.0M6 Dec 31, 2025$17.0M6 Dec 31, 20240%
Accumulated amortization$8.0M6 Dec 31, 2025$8.0M6 Dec 31, 20240%
Finite-lived intangibles, net$6.5M6 Dec 31, 2025$9.0M6 Dec 31, 2024−27.6%

Inventory

ItemLatestA year beforeChange
Inventory, total$352.0K6 Dec 31, 2025$18.0K6 Dec 31, 2024+1855.6%

Properties, in its own words

We maintain our principal office at 5 Marine View Plaza, Suite 214, Hoboken, NJ 07030. The Company’s principal office is comprised of 16,390- square feet of laboratory and office space in a multistory, multi-tenant building under a multi-year lease, most of which ends on May 31, 2028, with a portion of the lease ending July 31, 2030. Additionally, the Company leases 9,261 square feet of manufacturing (semiconductor and photonic chip fabrication), laboratory, clean room, and office space in a multi-tenant building in Tempe, AZ for 51-months ending November 30, 2028. The Company also has a short-term agreement for approximately 800 square feet in a multi-tenant facility in Tysons, VA that provides 24/7 furnished co-working space, conference room space, and other services on an as-needed basis. As a result of the LSI Acquisition, we also have a leased facility in Santa Barbara, CA for 20,337 square feet which expires November 30, 2026, a leased facility in Wilmington, MA for 7,573 square feet that expires January 30, 2030, a lease in Cranbury, NJ for 16,464 square feet that expires March 31, 2028, and a leased facility in Beford, MA for 19,332 square feet which expires August 31, 2028. Each of the LSI leases contains extension options.

Item 2 of the 10-K filed Mar 2, 2026.5

Leadership

Who has led Quantum Computing Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (14)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • EM4, LLC Delaware4
  • EMFOUR Acquisition Co., LLC Delaware4
  • Freedom Photonics, LLC California4
  • Luminar Semiconductor, Inc. Delaware4
  • Optogration Inc. Delaware4
  • QI Solutions, Inc. Delaware4
  • QPhoton, LLC Delaware4
  • Qubittech International, Inc. Delaware4
  • Qubittech, Inc. Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Oct 2, 20268-K Regulation FD disclosure33
  2. Sep 8, 20268-K Financial statements and exhibits34
  3. Aug 10, 20268-K Results of operations35
  4. Jul 22, 20268-K Executive or director change; Other events36
  5. Jun 30, 20268-K Change to shareholders' rights; Executive or director change; Bylaws or fiscal year changed37
  6. Jun 23, 20268-K Entered a material agreement; Completed an acquisition or sale; Regulation FD disclosure38
  7. May 18, 20268-K Regulation FD disclosure39
  8. May 11, 20268-K Results of operations40
  9. Apr 17, 20268-K Completed an acquisition or sale41
  10. Mar 5, 20268-K Other events42
  11. Mar 2, 20268-K Results of operations43
  12. Feb 3, 20268-K Completed an acquisition or sale; Regulation FD disclosure44
  13. Jul 2, 2025New chief executive Yuping Huang becomes CEO16
  14. Feb 21, 2025New chief executive William J. McGann becomes CEO15
  15. Jan 10, 2019New chief executive Robert Liscouski becomes CEO17
  16. Feb 22, 2018Founded Quantum Computing Inc. is founded2

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.05) a share, on Nov 14, 2025.45

When it reported results

  1. Aug 10, 2026Reported quarterly or annual results35
  2. May 11, 2026Reported quarterly or annual results40
  3. Mar 2, 2026Reported quarterly or annual results43
  4. Nov 14, 2025Reported quarterly or annual results46
  5. Jun 11, 2024Reported quarterly or annual results47
  6. Mar 30, 2023Reported quarterly or annual results48

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

256 filings to the SEC since October 2021: 9 annual reports, 15 quarterly reports, 65 major events, 79 insider forms, 9 large holders, 79 other. The latest 20:

  1. Oct 2, 20268-K CURRENT REPORT EDGAR
  2. Sep 8, 20268-K/A AMENDMENT NO. 1 TO FORM 8-K EDGAR
  3. Aug 24, 20264/A EDGAR
  4. Aug 21, 20264 EDGAR
  5. Aug 10, 202610-Q EDGAR
  6. Aug 10, 20268-K CURRENT REPORT EDGAR
  7. Jul 29, 20263 OWNERSHIP DOCUMENT EDGAR
  8. Jul 22, 20268-K CURRENT REPORT EDGAR
  9. Jul 9, 2026S-8 REGISTRATION STATEMENT EDGAR
  10. Jun 30, 20268-K CURRENT REPORT EDGAR
  11. Jun 23, 20268-K CURRENT REPORT EDGAR
  12. Jun 1, 20264 EDGAR
  13. Jun 1, 20264 EDGAR
  14. Jun 1, 20264 EDGAR
  15. May 28, 2026SCHEDULE 13D/A EDGAR
  16. May 18, 20268-K CURRENT REPORT EDGAR
  17. May 11, 202610-Q QUARTERLY REPORT EDGAR
  18. May 11, 20268-K CURRENT REPORT EDGAR
  19. Apr 30, 2026DEFA14A DEFINITIVE ADDITIONAL MATERIALS EDGAR
  20. Apr 30, 2026DEF 14A PROXY STATEMENT EDGAR

The 256 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

31 open-market trades by officers, directors and large owners since October 2021: 0 buys and 31 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Mar 11, 2026Roberts Christopher BruceCFO and General CounselSale9,360$7.85$73.5KForm 4
Mar 10, 2026Roberts Christopher BruceCFO and General CounselSale68,902$7.85$540.9KForm 4
Jan 7, 2026Begliarbekov MilanChief Operating OfficerSale2,860$11.85$33.9KForm 4
Sep 15, 2025FAGENSON ROBERT BDirectorSale5,000$16.88$84.4KForm 4
Sep 12, 2025FAGENSON ROBERT BDirectorSale15,000$15.62$234.3KForm 4
Sep 11, 2025FAGENSON ROBERT BDirectorSale30,000$15.63$468.9KForm 4
Sep 10, 2025FAGENSON ROBERT BDirectorSale35,000$15.52$543.2KForm 4
Sep 9, 2025FAGENSON ROBERT BDirectorSale15,000$15.02$225.3KForm 4
Sep 8, 2025Shabani JavadDirectorSale17,474$15.26$266.7KForm 4
Sep 5, 2025Shabani JavadDirectorSale20,000$15.30$306.0KForm 4
Sep 4, 2025Huang YupingCEO and PresidentSale1,000,000$14.42$14.4MForm 4
Aug 25, 2025Dianat PouyaChief Revenue OfficerSale17,175$15.53$266.7KForm 4
Jun 12, 2025Boehmler ChristopherChief Financial OfficerSale46,440$20.00$928.8KForm 4
Jun 11, 2025Boehmler ChristopherChief Financial OfficerSale83,495$19.92$1.7MForm 4
Jun 10, 2025Boehmler ChristopherChief Financial OfficerSale96,679$15.96$1.5MForm 4
Jun 9, 2025Boehmler ChristopherChief Financial OfficerSale92,271$15.00$1.4MForm 4
Jun 9, 2025TURMELLE MICHAEL CDirectorSale200,986$14.18$2.8MForm 4
May 19, 2025Huang YupingCEO and PresidentSale500,000$11.70$5.8MForm 4
May 19, 2025Shabani JavadDirectorSale39,973$11.66$466.1KForm 4
Mar 25, 2025Huang YupingCEO and PresidentSale200,000$8.48$1.7MForm 4

All 31 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Christopher Roberts$188.8K$1.5M53
2025Chris Boehmler$235.8K$517.1K53
2025Yuping Huang47$401.3K$508.2K53
2025William J. McGann$233.3K$233.3K53
2025Robert Liscouski$33.3K$33.3K53
2024Former Chief Financial Officer$300.5K$857.8K53
2024Former ChiefExecutive Officer and President$402.2K$596.3K53
2024Chief Executive OfficerPresident and Chairman$380.4K$414.1K53
2024Chief Financial Officer$277.8K$314.6K53
2023Former ChiefExecutive Officer and President$403.1K$610.6K53
2023Chief Financial Officer$431.6K$529.2K53
2023Chief Executive OfficerPresident and Chairman$400.3K$506.8K53
2023Former Chief Financial Officer$260.2K$504.0K53

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.17,733,975$172.0M0.0%+1,594,763
Vanguard Capital Management LLC8,848,881$85.8M0.0%+86,586
Defiance ETFs, LLC7,033,410$66.3M0.9%+2,538,327
Vanguard Portfolio Management LLC6,566,582$63.7M0.0%−143,542
Geode Capital Management, LLC5,322,648$51.6M0.0%+622,343
State Street Corp4,921,317$47.7M0.0%+404,497
Morgan Stanley3,292,011$31.9M0.0%+971,285
Marex Group Ltd2,302,359$22.3M0.2%−2,186,553
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.2,272,533$22.1M0.0%+69,232
UBS Group AG2,045,200$19.8M0.0%+729,508
Bank of New York Mellon Corp1,975,697$19.2M0.0%+953,093
Northern Trust Corp1,815,091$17.6M0.0%+126,010
Charles Schwab Investment Management Inc1,641,744$15.9M0.0%+149,534
Mubadala Investment Co PJSC1,587,350$15.4M0.0%No change
Capital Fund Management S.a.1,505,193$14.6M0.1%−195,702
National Bank Of Canada /fi/1,458,236$14.1M0.0%+1,319,087
Clear Street Group Inc.1,427,999$13.9M0.0%+585,780
Van Eck Associates Corp1,317,352$12.8M0.0%+345,750
Vanguard Fiduciary Trust Co1,301,720$12.6M0.0%−41,906
Susquehanna International Group, Llp1,172,886$11.4M0.0%+485,063
Bnp Paribas Financial Markets1,070,785$10.4M0.0%+729,860
Raymond James Financial Inc1,037,659$10.1M0.0%+248,076
Pacific Heights Asset Management LLC1,000,000$9.7M0.3%No change
Focus Financial Network, Inc.911,635$8.8M0.3%+730,240
Goldman Sachs Group Inc789,243$7.7M0.0%−118,731

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Quantum Computing Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARQuantum Computing Inc.1
  • CIK0001758009
  • Employer ID (EIN)82-45330535
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)7372 Services-Prepackaged Software1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address5 Marine View Plz, Suite 214, Hoboken, NJ 070301
  • Phone703-436-21611
  • Shares outstanding226,346,861 as of Aug 7, 202612
  • Public float$2.5B as of Jun 30, 20255
  • AuditorBPM LLP, San Jose, California PCAOB ID 207; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceJan 9, 20191
  • Filings357 in all: 8-K (85), 4 (71), 10-Q (23), 3 (18), UPLOAD (17), CORRESP (15), 144 (12), EFFECT (9)1
    All 44 form types

    10-K (8), 10-K/A (7), 424B3 (6), D (6), DEF 14A (6), S-1 (6), DEFA14A (5), SC 13D/A (5), 424B5 (4), 8-K/A (4), SC 13D (4), 10-12G/A (3), PRE 14A (3), S-1/A (3), S-3 (3), S-3/A (3), SC 13G (3), SCHEDULE 13G (3), SCHEDULE 13G/A (3), 10-12G (2), 4/A (2), NT 10-Q (2), S-3ASR (2), S-8 (2), 10-Q/A (1), 144/A (1), 8-A12B (1), CERT (1), D/A (1), DEF 14C (1), PRE 14C (1), PRER14A (1), PRER14C (1), RW (1), SC 13G/A (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Aug 10, 2026
    Proxy statement (DEF 14A) Apr 30, 2026
    Latest 8-K (8-K) Oct 2, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $.0001QUBTThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 2, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Quantum Computing Inc. names in Item 1A of its 10-K filed Mar 2, 2026: 46 risks under these headings, as written.5

  • Risks Related to Our Financial Condition and Status as an Early-Stage Company
  • We are in our early stages and have a limited operating history, which makes it difficult to forecast the future results of our operations.
  • We have a history of operating losses and expect to incur significant expenses and continuing losses for the foreseeable future.
  • We have a history of accumulated deficits, recurring losses and negative cash flows from operating activities. We may be unable to achieve or sustain profitability or continue operations as planned.
  • We may not be able to scale our business quickly enough to meet customer and market demand, which could adversely affect our financial condition and results of operations or cause us to fail to execute on our business strategies.
  • Even if the market in which we compete achieves its anticipated growth levels, our business could fail to grow at similar rates, if at all.
  • We may not manage growth effectively.
  • We will require a significant amount of cash for expenditures as we invest in ongoing research and development and business operations and may need additional capital sooner than planned to pursue our business objectives and respond to business opportunities, challenges or unforeseen circumstances, and we cannot be sure that additional financing will be available. If we are unable to raise additional funding when needed, we may be required to delay, limit or substantially reduce our development efforts.
  • Failure to identify errors in the quantitative models we utilize to manage our business could adversely impact product performance and client relationships.
  • Our ability to use net operating loss carryforwards and other tax attributes may be limited in connection with the QPhoton Merger or other ownership changes.
  • Risks Related to Our Business and Industry
  • We have not produced any of our products at volume and we face significant barriers in our attempts to develop and manufacture our products, including the need to invent and develop new technology. If we cannot successfully overcome those barriers, our business will be negatively impacted and could fail.
The other 36 risks
  • We may be unable to reduce the production cost sufficiently, which may prevent us from pricing our quantum systems competitively.
  • If our products and services fail to deliver customer value to a broader range of customers than classical approaches, our business, financial condition and future prospects may be harmed.
  • The quantum computing industry is competitive and we may not be successful in competing in this industry or establishing and maintaining confidence in our long-term business prospects among current and future partners and customers.
  • We rely on access to high-performance third-party classical computing through public clouds and high-performance computing centers to deliver quantum products and services to customers. We may not be able to maintain connectivity with these resources, which could make it harder for us to reach customers or deliver products and services in a cost-effective manner.
  • We depend on certain suppliers to source products. Failure to maintain our relationship with any of these suppliers, or a failure to replace any of these suppliers, could have a material adverse effect on our business, financial position, results of operations and cash flows.
  • Acquisitions or divestitures could result in adverse impacts on our operations.
  • TFLN Optical Chips manufacturers, suppliers and distributors are concentrated primarily in China and other parts of East Asia, which is an area that is or may be subject to geopolitical uncertainty, trade disputes and restrictions, environmental disasters, and other risks. Any disruption to the operations of these manufacturers or distributors could cause significant delays in the production or shipment of our products and impact our financial condition.
  • In order to compete, we must attract, retain and motivate key associates, and the failure to do so could have an adverse effect on our business, financial condition and results of operations.
  • Even if we are successful in developing our products and executing our strategy, competitors in the industry may achieve technological breakthroughs that render our quantum computing systems obsolete or inferior to other products.
  • The quantum computing industry is in its early stages and volatile, and if it does not develop, if it develops slower than we anticipate, if it encounters negative publicity or if our quantum computing products and services do not achieve commercial adoption, the growth of our business will be harmed.
  • We have experienced in the past and could also suffer future disruptions, outages, defects and other performance and quality problems with our quantum computing products and services, our production technology partners or with the public cloud, data centers and internet infrastructure on which we rely.
  • Our future growth and success depend on our ability to sell effectively to government entities and large enterprises.
  • Our quantum computing systems may not be compatible with some or all industry-standard software and hardware in the future, which could harm our business.
  • Cybersecurity risks and the failure to maintain the integrity of data belonging to the Company could expose us to data loss, litigation and liability, and our reputation could be significantly harmed.
  • Computer malware, viruses, hacking, phishing attacks and spamming could harm our business and results of operations.
  • Unfavorable conditions in our industry or the global economy could limit our ability to grow our business and negatively affect our results of operations.
  • Government actions and regulations, such as tariffs and trade protection measures, especially in China and the United States, may adversely impact our business, including our ability to obtain products from our suppliers
  • We may become subject to legal proceedings that could have a material adverse impact on our financial position and results of operations.
  • We intend to continue exploring strategic business acquisitions and other business combinations and transactions, which are subject to inherent risks.
  • We have identified material weaknesses in our internal control over financial reporting and may identify additional material weaknesses in the future or otherwise fail to maintain an effective system of internal control, which may result in material misstatements of our financial statements or cause us to fail to meet our periodic reporting obligations.
  • Unstable market and economic conditions may have serious adverse consequences on our business, financial condition and share price.
  • We are subject to governmental export and import controls that could impair our ability to compete in international markets due to licensing requirements and subject us to liability if we are not in compliance with applicable laws.
  • We may become subject to product liability claims, which could harm our financial condition and liquidity if we are not able to successfully defend or insure against such claims.
  • Risks Related to Intellectual Property
  • Any failure to obtain, maintain and protect our intellectual property rights could impair our ability to protect and commercialize our proprietary products and technology and cause us to lose our competitive advantage.
  • Our inability to secure patent protection or enforce our patent rights could have a material adverse effect on our ability to prevent others from commercializing similar products or technology.
  • We may face patent infringement and other intellectual property claims that could be costly to defend, result in injunctions and significant damage awards, or limit our ability to use certain key technologies in the future, all of which could harm our business.
  • Growing our customer base depends upon the effective operation of our applications with operating systems, networks and standards that we do not control.
  • We may not be able to protect our source code from copying if there is an unauthorized disclosure of source code.
  • Risks Related to Our Common Stock
  • Our stock price has been and may continue to be volatile or may decline regardless of our operating performance, and you may lose part or all of your investment.
  • Future sales of shares of our common stock, or the perception in the public markets that these sales may occur, may depress our stock price.
  • Delays in filing financial reports, internal control weaknesses, and restatements could hinder our ability to maintain Form S-3 eligibility and adversely affect our business and stock price.
  • Shares of our currently issued and outstanding stock may become freely tradable pursuant to Rule 144 and may dilute the market for your shares and have a depressive effect on the price of the shares of our common stock.
  • We currently do not intend to pay dividends on our common stock. As a result, your only opportunity to achieve a return on your investment is if the price of our common stock appreciates.
  • You may experience dilution of your ownership interest due to the future issuance of additional shares of our common stock.
  • Our executive officers and directors possess significant voting power with respect to our common stock, which will limit your influence on corporate matters.
  • Our articles of incorporation grant the Board the power to issue additional shares of common and preferred shares and to designate other classes of preferred shares, all without stockholder approval.

Legal proceedings

Except as listed below, there is no action, suit, or proceeding by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of the Company or our subsidiaries, threatened against or affecting the Company, our common stock, our subsidiaries, or the Company’s or its subsidiaries’ officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect on the Company.

BV Advisory Partners, LLC Proceedings

BV Advisory v. QCi Appraisal Action

BV Advisory Partners, LLC (“BV Advisory”) was a shareholder of QPhoton, Inc., the predecessor in interest to the Company’s subsidiary, QPhoton, LLC (both referred to as “QPhoton” in this Legal Proceedings discussion). On October 13, 2022, BV Advisory filed a petition in the Court of Chancery of the State of Delaware (the “Delaware Chancery Court”) seeking appraisal rights on the shares of common stock of QPhoton it owned (which shares represented 10% of the shares of common stock of QPhoton outstanding immediately prior to the Company’s acquisition of QPhoton) pursuant to Section 262 of the Delaware General Corporation Law.

The opening of Item 3, Legal Proceedings.5

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