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Risk Profile Improvements

  • Disclosure Controls And Procedures Were Not Effective (removed) — Baseline disclosed ineffective disclosure controls; current filing omits this section entirely, then discloses material weaknesses in MD&A.
  • Securities Litigation (removed) — Securities class action lawsuit disclosure removed from current filing; baseline disclosed pending litigation alleging false/misleading statements about customers, contracts, and operations.
  • Material Weakness (new) — Company disclosed material weaknesses in internal control over financial reporting for the first time, citing insufficient personnel, inadequate risk assessment, and deficient IT general controls.
NASDAQ: QUBT Quantum Computing Inc. 10-Q

QUBT omits controls & litigation disclosures; reports material weakness after LSI acquisition

Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~2 min read

Key Changes

  • high

    Company removed disclosure of ineffective controls from prior quarter and now reports material weaknesses in internal controls, citing insufficient accounting personnel, inadequate segregation of duties, and deficient IT controls.

    Controls & MD&A: Internal Controls verify on EDGAR →
  • high

    Securities class action and shareholder derivative lawsuit disclosures removed from current filing; baseline disclosed pending litigation alleging false statements about customers, contracts, and operations during 2020-2025.

    Legal Proceedings verify on EDGAR →
  • high

    LSI acquisition ($108.5M, closed Feb 2026) added photonic semiconductor capabilities but contributed $2.5M operating loss and drove negative gross margin of 20% from under-absorbed fixed costs at low production volumes.

    MD&A: LSI Acquisition & Gross Margin verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Generated by AI · Jun 25, 2026 12:11 AM