Quantum Computing
Develops photonic quantum machines, chips, sensing hardware, and secure communications tools.
Something off on this page? Send us feedback.
Profile
Builds integrated-photonics systems for quantum computing, reservoir computing, remote sensing, imaging, and cybersecurity. Revenue is still early commercial, with one consolidated segment spanning Dirac machines, TFLN foundry services, NeuraWave hardware, and quantum communications products.
Uses integrated photonics and non-linear quantum optics to build room-temperature systems for quantum computing, reservoir computing, remote sensing, imaging, and cybersecurity. The commercial lineup spans Dirac entropy quantum computers, EmuCore and NeuraWave reservoir-computing hardware, quantum communication components, and TFLN foundry services.
Operations are centered in the United States, with headquarters in Hoboken and a Tempe, Arizona chip facility for TFLN prototyping, small-batch manufacturing, and photonic integrated-circuit packaging. Luminar Semiconductor and NuCrypt broaden the portfolio into photonic components, packaging, and quantum communications.
The business reports one consolidated segment and remains early commercial, with product and service revenue built around specialized hardware access, foundry work, and support. Commercialization depends on TFLN chip execution, wafer supply chains concentrated in East Asia, and export-control rules covering some quantum technologies.
Company facts
Categories
Key statistics
Year to date −25.9% · Average volume (30d) 8.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jun 29, 2026 | Rosenblatt Securities | Target | $22 | ||
| Jun 24, 2026 | Cantor Fitzgerald | Reiterate | Neutral | $10 | |
| Apr 20, 2026 | Northland Securities | Target | $20 | ||
| Dec 17, 2025 | Wedbush | Target | $12 | ||
| Nov 17, 2025 | Lake Street | Reiterate | Buy | $24 | $16 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | −$0.03 | −$0.05 | −44.8% | $5.2M | $5.6M | +7.8% | +0.22% |
| May 11, 2026Q1 FY26 | −$0.05 | −$0.02 | +60.0% | $3.1M | $3.7M | +17.9% | +15.72% |
| Mar 2, 2026Q4 FY25 | −$0.04 | −$0.04 | 0.0% | $393.6K | $198.0K | −49.7% | −10.01% |
| Nov 14, 2025Q3 FY25 | −$0.06 | −$0.05 | +11.8% | $116.7K | $384.0K | +229.1% | +8.49% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $39.0K | $61.0K | $384.0K | $198.0K | $3.7M | $5.6M | |
| Gross profit | $13.0K | $26.0K | $126.0K | −$98.0K | −$721.0K | −$1.2M | |
| Operating income | −$8.3M | −$10.2M | −$10.4M | −$22.2M | −$20.6M | −$23.0M | |
| Net income | $17.0M | −$36.5M | $2.4M | −$1.6M | −$4.1M | −$11.8M | |
| Diluted EPS | $0.11 | −$0.26 | $0.01 | −$0.01 | −$0.02 | −$0.05 | |
| Gross margin | 33.3% | 42.6% | 32.8% | -49.5% | -19.5% | -21.0% | |
| Operating margin | -21,246.2% | -16,673.8% | -2,709.4% | -11,220.2% | -556.8% | -414.6% |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $135.6K · FY23 $357.9K · FY24 $373.0K · FY25 $682.0K
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $954.2M · Total debt $23.4M · Total assets $1.64B · Shareholders' equity $1.59B
Dividends
No dividends on record.
Ownership
Shares outstanding 224.54M · Float 200.41M · 89.3% free float
A Form 4 total here can count shares the filer formally disclaims — an award voted by proxy, for instance — which the holder's own Schedule 13D/G excludes, so where the two disagree the schedule's smaller figure is used.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Yuping Huang · director, 10 percent owner, officer: CEO and President | 23.30M | 10.38% | Form 4 | Aug 24, 2026 |
| BlackRock, Inc. | 17.73M | 7.90% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 8.85M | 3.94% | 13F | Aug 13, 2026 |
| Defiance Etfs, LLC | 7.03M | 3.13% | 13F | Aug 14, 2026 |
| Penserra Capital Management LLC | 6.98M | 3.11% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 11, 2026 | Christopher Bruce Roberts | officer: CFO and General Counsel | −9,360 | $7.85 |
| Mar 10, 2026 | Christopher Bruce Roberts | officer: CFO and General Counsel | −68,902 | $7.85 |
| Jan 7, 2026 | Milan Begliarbekov | officer: Chief Operating Officer | −2,860 | $11.85 |
| Sep 15, 2025 | Robert B. Fagenson | director | −5,000 | $16.88 |
| Sep 12, 2025 | Robert B. Fagenson | director | −15,000 | $15.62 |
Peers
- IBM
Full-stack quantum platform spanning hardware, cloud access, and Qiskit
- D-Wave Quantum
Annealing-first quantum systems for optimization and hybrid cloud use
- IonQ
Trapped-ion platform spanning quantum computing, networking, and security
- Xanadu Quantum Technologies
Photonic quantum-computing peer with software and chip-packaging work
- Rigetti Computing
Superconducting quantum hardware, QPUs, and cloud-delivered systems
- Infleqtion
Neutral-atom quantum systems, sensing, security, and integrated photonics
- Microsoft
Enterprise quantum cloud and HPC platform with topological hardware roadmap
- Amazon
Quantum cloud marketplace competing for developer and enterprise workloads
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Quantum Computing | $8.18 | +0.25% | $1.83B | — | — | 186.3 | +9,000.0% |
| IBM | $235.80 | +0.10% | $221.96B | 20.8 | 18.4 | 3.2 | +1.1% |
| D-Wave Quantum | $17.01 | +0.03% | $6.25B | — | — | 502.6 | −0.6% |
| IonQ | $39.41 | +0.56% | $14.63B | — | — | 59.4 | +286.8% |
| Xanadu Quantum Technologies | $10.51 | −0.10% | $237.9M | — | — | 42.2 | — |
| Rigetti Computing | $15.68 | +0.51% | $5.18B | — | — | 388.1 | +185.3% |
| Infleqtion | $12.82 | +0.20% | $2.79B | — | — | 126.4 | — |
| Microsoft | $513.06 | −0.06% | $3.81T | 28.6 | 26.2 | 11.5 | +17.8% |
| Amazon | $266.10 | −0.11% | $2.87T | 21.4 | 28.5 | 3.7 | +19.6% |
| Median | 21.4 | 26.2 | 50.8 | +18.7% |