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Get filing alertsQuantum Computing reports $3.7M Q1 revenue, completes $110M LSI and $5M NuCrypt acquisitions
Filed May 11, 2026 · Period ending May 11, 2026 · ~1 min read
Key Changes
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Q1 2026 revenue surged to $3.7M from $39K year-over-year, driven by the February acquisition of Luminar Semiconductor and March acquisition of NuCrypt, marking the company's first material revenue quarter.
Exhibit 99.1 view on EDGAR → -
high
Completed $110M all-cash acquisition of Luminar Semiconductor, adding manufacturing capabilities in photonic components, lasers, detectors, and advanced packaging to advance scalable manufacturing.
Exhibit 99.1 view on EDGAR → -
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Ended quarter with $1.4B in cash and investments (down from $1.5B at year-end) and $16M contract backlog, providing runway for operations and future revenue visibility.
Exhibit 99.1 view on EDGAR → -
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Net loss of $4.1M ($0.02/share) versus $17.0M net income in Q1 2025, driven by smaller non-cash derivative gain and 139% higher operating expenses ($19.8M vs. $8.3M) from personnel and acquisition costs.
Exhibit 99.1 view on EDGAR → -
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Acquired NuCrypt for $5M, adding quantum communications systems and products to extend the company's quantum communications and photonics portfolio.
Exhibit 99.1 view on EDGAR →
Summary
Quantum Computing reported its first material revenue quarter, with Q1 2026 sales reaching $3.7 million versus $39,000 in the prior-year period. The 94-fold increase was driven entirely by two acquisitions completed during the quarter: Luminar Semiconductor ($110 million, all cash) in February and NuCrypt ($5 million) in March. LSI brings established manufacturing capabilities in photonic components that complement QCi's thin-film lithium niobate technology, while NuCrypt adds quantum communications systems to the product portfolio.
The company swung to a $4.1 million net loss from $17.0 million net income in Q1 2025, reflecting higher operating expenses (up 139% to $19.8 million) from personnel expansion and acquisition-related costs, plus a smaller non-cash gain on warrant liability revaluation. QCi ended the quarter with $1.4 billion in cash and investments after funding the LSI acquisition, and reported a $16 million contract backlog. For a pre-revenue quantum computing company, the acquisitions represent a strategic pivot toward near-term revenue generation through established photonics manufacturing and quantum communications products, though the sustainability of this revenue base and path to profitability remain to be demonstrated in coming quarters.
Section-by-Section Diff
Event · Exhibit 99.1
Q1 2026 revenue surged to $3.7M from $39K YoY; completed two acquisitions (LSI $110M, NuCrypt $5M); ended quarter with $1.4B cash.
Added in current filing · view on EDGAR →
During the first quarter, QCi completed the acquisition of Luminar Semiconductor, Inc. in an all-cash transaction valued at $110 million. LSI manufactures and sells a portfolio of photonic components and brings established capabilities in lasers, detectors, advanced packaging, and manufacturing, complementing QCi’s position in thin film lithium niobate (“TFLN”) integrated photonics.
QCi acquired Luminar Semiconductor for $110 million in cash during Q1 2026. LSI brings manufacturing capabilities in photonic components, lasers, detectors, and advanced packaging. This acquisition is intended to advance QCi's path to scalable manufacturing and complement its existing thin-film lithium niobate photonics technology.
Added in current filing · view on EDGAR →
During the first quarter, QCi completed the acquisition of NuCrypt, LLC, a quantum communications technology company, in a transaction valued at $5 million. By integrating NuCrypt’s suite of quantum communications systems and products, QCi expects to advance its technology roadmap while extending its portfolio of quantum communications and quantum photonics solutions.
QCi acquired NuCrypt, a quantum communications technology company, for $5 million during Q1 2026. The acquisition adds quantum communications systems and products to QCi's portfolio, intended to advance the company's technology roadmap in quantum communications and photonics.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 25, 2026 · How we verify