Quantum Computing (QUBT) Stock Surges as 9,000% Revenue Growth Turns Heads
TLDR
- Quantum Computing Inc. (QUBT) reported Q2 revenue of $5.6 million, up over 9,000% year over year from just $61,000.
- QUBT traded near $8.91 on Aug. 21 as seven quantum computing stocks rallied together.
- Net loss narrowed to $11.8 million from $36.5 million, largely due to shrinking warrant derivative losses, not core profitability.
- Six different catalysts drove the broader sector rally, including a new BMO price target on D-Wave and an IBM cryogenic milestone.
- Analyst consensus on QUBT is Hold, with an average price target of $18.33 and revenue beating estimates at $5.55 million vs. $5.15 million expected.
Quantum Computing Inc. reported Q2 revenue of $5.6 million, a jump of more than 9,000% from the $61,000 it posted in the same quarter a year ago. The stock opened at $8.91 on Aug. 21, as part of a broader rally across quantum computing names.
The revenue growth came from photonics product sales to government, educational, and commercial customers. Revenue also rose 51% sequentially from Q1’s $3.7 million.
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