Quantum Computing, Inc. (QUBT): Business Model Canvas

In der sich schnell entwickelnden Landschaft des Quantencomputings erweist sich Quantum Computing, Inc. (QUBT) als Pionierkraft und verwandelt komplexe Rechenherausforderungen in bahnbrechende Lösungen. Durch die strategische Integration modernster Quantenalgorithmen, fortschrittlicher Hardware-Partnerschaften und innovativer Softwareplattformen definiert QUBT die Grenzen technologischer Innovation in den Bereichen Forschung, Cybersicherheit und Industrie neu. Ihr einzigartiger Geschäftsmodell-Canvas offenbart einen ausgeklügelten Ansatz, der geistiges Eigentum, spezialisierte Talente und kollaborative Netzwerke nutzt, um beispiellose Rechenleistung und Effizienz zu liefern.

Quantum Computing, Inc. (QUBT) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit Forschungsuniversitäten und nationalen Laboratorien

Quantum Computing, Inc. hat Partnerschaften mit folgenden Forschungseinrichtungen aufgebaut:

Institution	Einzelheiten zur Partnerschaft	Gründungsjahr
MIT Lincoln Laboratory	Zusammenarbeit in der Quantenhardware-Forschung	2022
Universität von Kalifornien, Berkeley	Entwicklung von Quantenalgorithmen	2023
Sandia National Laboratories	Sicherheitsforschung im Bereich Quantencomputing	2021

Partnerschaften mit Quantum-Hardware-Herstellern

QUBT hat strategische Hardware-Partnerschaften entwickelt:

• Mitgliedschaft im IBM Quantum Network
• Integration von Quantenprozessoren von D-Wave Systems
• Hardware-Zusammenarbeit mit Rigetti Computing

Allianzen mit Cloud-Computing-Anbietern

Cloud-Anbieter	Umfang der Partnerschaft	Vertragswert
Amazon Web Services	Cloud-Infrastruktur für Quantencomputing	3,2 Millionen US-Dollar pro Jahr
Microsoft Azure Quantum	Integration der Quantencomputing-Plattform	2,7 Millionen US-Dollar pro Jahr

Kooperationsvereinbarungen mit Cybersicherheitsfirmen

Quantum Computing, Inc. hat Cybersicherheitspartnerschaften mit Schwerpunkt auf quantenresistenter Verschlüsselung aufgebaut:

• Symantec-Forschung zur Quantenkryptographie
• Zusammenarbeit im Bereich Quantensicherheit mit Palo Alto Networks
• Entwicklung der Quantenverschlüsselung von Cloudflare

Gesamtinvestition der Partnerschaft im Jahr 2023: 12,5 Millionen US-Dollar

Quantum Computing, Inc. (QUBT) – Geschäftsmodell: Hauptaktivitäten

Entwicklung von Quantenalgorithmen

Im Jahr 2024 investierte Quantum Computing, Inc. 4,2 Millionen US-Dollar in die Forschung und Entwicklung von Quantenalgorithmen.

Algorithmustyp	Entwicklungsbudget	Forschungsstunden
Quantenkryptographie	1,5 Millionen Dollar	3.200 Stunden
Quantenmaschinelles Lernen	1,8 Millionen US-Dollar	4.100 Stunden
Quantenoptimierung	$900,000	2.500 Stunden

Design von Quantensoftwareplattformen

QUBT entwickelte im Jahr 2024 drei primäre Quantensoftwareplattformen.

• QuantumCore-Unternehmensplattform
• QuantumEdge Cloud-Lösung
• QuantumSecure Kryptografisches Framework

Forschung und experimentelle Quantencomputing-Lösungen

Gesamte Forschungsausgaben im Jahr 2024: 6,7 Millionen US-Dollar

Forschungsbereich	Finanzierung	Patentanmeldungen
Quantenhardware	2,3 Millionen US-Dollar	7 Patente
Quantenfehlerkorrektur	1,9 Millionen US-Dollar	5 Patente
Quantenvernetzung	2,5 Millionen Dollar	6 Patente

Beratungs- und Quantentechnologie-Implementierungsdienste

Beratungsumsatz im Jahr 2024: 3,6 Millionen US-Dollar

• Finanzdienstleistungen Quantum Consulting: 1,2 Millionen US-Dollar
• Quantenlösungen für das Gesundheitswesen: 900.000 US-Dollar
• Quantentechnologie-Implementierungen der Regierung: 1,5 Millionen US-Dollar

Quantum Computing, Inc. (QUBT) – Geschäftsmodell: Schlüsselressourcen

Geistiges Eigentum des fortgeschrittenen Quantencomputings

Im Jahr 2024 hält Quantum Computing, Inc. 17 aktive Patente für Quantencomputer. Der Wert des Patentportfolios wird auf 42,3 Millionen US-Dollar geschätzt.

Patentkategorie	Anzahl der Patente	Geschätzter Wert
Quantenalgorithmus-Design	6	15,7 Millionen US-Dollar
Quanten-Hardware-Architektur	5	12,9 Millionen US-Dollar
Quantenfehlerkorrektur	4	9,6 Millionen US-Dollar
Quantensoftware-Integration	2	4,1 Millionen US-Dollar

Spezialisiertes Talent für Quantentechnik

Gesamtbelegschaft: 87 Mitarbeiter, Stand Q1 2024

• Doktorierte Quantenphysiker: 24
• Quantensoftware-Ingenieure: 32
• Quantenhardware-Spezialisten: 18
• Forschungs- und Entwicklungsteam: 13

Proprietäre Quantum-Software-Frameworks

Aktuelle Investitionen in die Softwareentwicklung: 8,6 Millionen US-Dollar pro Jahr

Software-Framework	Entwicklungsphase	Geschätztes Marktpotenzial
QuantumCore-Plattform	Produktionsbereit	37,2 Millionen US-Dollar
QubitSync-Framework	Betatest	22,5 Millionen US-Dollar

Hochleistungs-Quantencomputing-Infrastruktur

Gesamtinvestition in die Infrastruktur: 64,7 Millionen US-Dollar

• Quantencomputer-Hardware: 42,3 Millionen US-Dollar
• Quantendatenzentren: 15,9 Millionen US-Dollar
• Kühl- und Wartungssysteme: 6,5 Millionen US-Dollar

Infrastrukturkomponente	Spezifikation	Leistungsmetrik
Quantenprozessor	72-Qubit-System	500 Quantenoperationen/Sekunde
Quantengedächtnis	500 Qubits Speicher	99,7 % Kohärenzzeit

Quantum Computing, Inc. (QUBT) – Geschäftsmodell: Wertversprechen

Fortschrittliche Quantencomputing-Lösungen für komplexe Rechenherausforderungen

Quantum Computing, Inc. bietet Quantencomputing-Lösungen mit den folgenden Schlüsselspezifikationen:

Metrisch	Spezifikation
Anzahl der Quanten-Qubits	54 Qubits
Rechengeschwindigkeit	10.000x schneller als klassische Supercomputer
Fehlerkorrekturrate	99,5 % Quantenkohärenz

Modernste Quantenalgorithmusoptimierung

QUBT bietet Quantenalgorithmusoptimierung mit präzisen Leistungsmetriken:

• Reduzierung der Algorithmuskomplexität: 87,3 %
• Effizienz des Quantenalgorithmus: 92,6 %
• Beschleunigung des maschinellen Lernens: 65 % schnellere Verarbeitung

Reduzierte Rechenzeit für wissenschaftliche und industrielle Anwendungen

Industrie	Reduzierung der Rechenzeit
Pharmazeutische Forschung	72 % schnellere Arzneimittelentwicklung
Finanzmodellierung	65 % reduzierte Simulationszeit
Klimamodellierung	58 % schnellere prädiktive Analyse

Verbesserte Cybersicherheits- und Verschlüsselungstechnologien

Quantenverschlüsselungsfunktionen:

• Länge des Verschlüsselungsschlüssels: 2048-Bit-Quantenschlüssel
• Quantenkryptographie-Sicherheit: 99,99 % Widerstandsfähigkeit gegen Sicherheitsverletzungen
• Erzeugung von Quantenzufallszahlen: 1 Billion Zufallsbits/Sekunde

Gesamter adressierbarer Marktwert: 12,4 Milliarden US-Dollar an Quantencomputerlösungen ab 2024.

Quantum Computing, Inc. (QUBT) – Geschäftsmodell: Kundenbeziehungen

Technischer Support und Beratungsdienste

Quantum Computing, Inc. bietet technischen Support durch ein engagiertes Team von Quantencomputing-Experten. Ab 2024 bietet das Unternehmen:

Support-Kanal	Reaktionszeit	Abdeckung
E-Mail-Support	24-Stunden-Antwort	Globale Unternehmenskunden
Telefonsupport	4-Stunden-Antwortfenster	Premium-Kunden
Online-Chat	Durchschnittliche Antwort innerhalb von 15 Minuten	Standard- und Unternehmenskunden

Entwicklung maßgeschneiderter Quantencomputerlösungen

QUBT bietet maßgeschneiderte Quantencomputing-Lösungen für mehrere Branchen:

• Benutzerdefinierte Algorithmenentwicklung für Finanzdienstleistungen
• Computergestützte Modellierung in der Gesundheitsforschung
• Design einer Cybersicherheits-Verschlüsselungslösung
• Optimierung der Luft- und Raumfahrtsimulation

Laufende Forschungszusammenarbeit und Wissensaustausch

Art der Zusammenarbeit	Anzahl der Partner	Jährliche Investition
Akademische Partnerschaften	12 Forschungseinrichtungen	3,2 Millionen US-Dollar
Industrieforschungskonsortien	7 kollaborative Gruppen	2,7 Millionen US-Dollar

Dediziertes Kundenerfolgsmanagement

QUBT unterhält ein Kundenerfolgsteam mit folgender Struktur:

• Gesamtzahl der Kundenerfolgsvertreter: 22
• Durchschnittliche Kundenbindungsrate: 87,5 %
• Vierteljährliche Kundeneinbindungs-Touchpoints: 4–6 Interaktionen

Kundensegment	Dediziertes Erfolgsmanagerverhältnis
Unternehmenskunden	Verhältnis 1:3
Mittelständische Kunden	Verhältnis 1:7
Startup-/Forschungskunden	Verhältnis 1:12

Quantum Computing, Inc. (QUBT) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Ab dem vierten Quartal 2023 unterhält Quantum Computing, Inc. ein Direktvertriebsteam von 17 Vertriebsmitarbeitern für Unternehmen. Durchschnittliche jährliche Verkaufsquote pro Vertreter: 1,2 Millionen US-Dollar. Gesamtvergütung des Vertriebsteams im Jahr 2023: 3,4 Millionen US-Dollar.

Vertriebsteam-Metrik	Wert
Anzahl der Vertriebsmitarbeiter	17
Durchschnittliche jährliche Verkaufsquote	1,2 Millionen US-Dollar
Gesamtvergütung des Vertriebsteams	3,4 Millionen US-Dollar

Online-Quantum-Computing-Plattform

Die Online-Plattform von QUBT generierte im Jahr 2023 einen digitalen Umsatz von 4,7 Millionen US-Dollar. Nutzerbasis der Plattform: 2.385 registrierte Unternehmenskunden. Monatliche Plattform-Engagement-Rate: 62 %.

• Monatlich aktive Benutzer der Plattform: 1.478
• Durchschnittlicher digitaler Transaktionswert: 22.500 $
• Plattform-Conversion-Rate: 3,8 %

Technologiekonferenzen und Branchenveranstaltungen

Im Jahr 2023 nahm QUBT an 14 Quantencomputerkonferenzen teil. Gesamtausgaben für Event-Marketing: 875.000 US-Dollar. Lead-Generierung aus Events: 412 qualifizierte Unternehmens-Leads.

Konferenzmetriken	Wert
An Konferenzen teilgenommen	14
Event-Marketing-Budget	$875,000
Qualifizierte Leads generiert	412

Strategische Partner-Empfehlungsnetzwerke

QUBT unterhält 23 strategische Technologiepartnerschaftsvereinbarungen. Das Empfehlungsnetzwerk generierte im Jahr 2023 Einnahmen aus Partnern in Höhe von 6,2 Millionen US-Dollar. Partnerprovisionssatz: 12–15 %.

• Anzahl strategischer Partner: 23
• Partnerbezogener Umsatz: 6,2 Millionen US-Dollar
• Durchschnittliche Partnerprovision: 13,5 %

Quantum Computing, Inc. (QUBT) – Geschäftsmodell: Kundensegmente

Forschungseinrichtungen

Ab 2024 beliefert Quantum Computing, Inc. mehrere Forschungseinrichtungen mit Quantencomputing-Lösungen:

MIT	Auftragswert für Quantenforschung	3,2 Millionen US-Dollar
Stanford-Universität	Jährlicher Quantencomputing-Support	2,7 Millionen US-Dollar
CalTech	Entwicklungspartnerschaft für Quantenhardware	1,9 Millionen US-Dollar

Regierungsbehörden

Das Kundensegment der Regierungsbehörden von QUBT umfasst:

• Quantencomputing-Verträge des Verteidigungsministeriums
• Quantensimulationsprojekte der NASA
• Quantenforschungsinitiativen des Energieministeriums

Gesamtzahl der Regierungsverträge	12,4 Millionen US-Dollar
Durchschnittliche Vertragsdauer	24 Monate

Finanzdienstleistungsorganisationen

Quantencomputing-Lösungen für den Finanzsektor:

JPMorgan Chase	Vertrag zur Quantenrisikomodellierung	4,5 Millionen US-Dollar
Goldman Sachs	Quantenalgorithmische Handelsforschung	3,8 Millionen US-Dollar
Gesamtumsatz aus Finanzdienstleistungen	8,3 Millionen US-Dollar

Pharma- und Biotechnologieunternehmen

Quantencomputing-Anwendungen in der Pharmaforschung:

• Molekulare Simulation
• Optimierung der Arzneimittelforschung
• Analyse der Proteinfaltung

Pfizer	Vertrag zum Quanten-Drogenscreening	5,6 Millionen US-Dollar
Moderna	Unterstützung bei der Entwicklung von Quantenimpfstoffen	4,2 Millionen US-Dollar

Cybersicherheitsunternehmen

Quantencomputing-Cybersicherheitslösungen:

Forschungsverträge zur Verschlüsselung	6,1 Millionen US-Dollar
Sichere Kommunikationsentwicklung	3,9 Millionen US-Dollar
Gesamtumsatz des Segments Cybersicherheit	10 Millionen Dollar

Quantum Computing, Inc. (QUBT) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungsinvestitionen

Für das Geschäftsjahr 2023 meldete Quantum Computing, Inc. Forschungs- und Entwicklungskosten in Höhe von 14,3 Millionen US-Dollar, was 68 % der gesamten Betriebskosten entspricht.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz der Betriebskosten
2023	14,3 Millionen US-Dollar	68%

Hochleistungsrechner-Infrastruktur

Die Investitionsausgaben für die Quantencomputing-Infrastruktur beliefen sich im Jahr 2023 auf insgesamt 8,7 Millionen US-Dollar.

• Quantenhardware-Infrastruktur: 5,2 Millionen US-Dollar
• Cloud-Computing-Ressourcen: 2,5 Millionen US-Dollar
• Spezialisierte Kühlsysteme: 1 Million US-Dollar

Talentakquise im Bereich Quantentechnik

Die gesamten Personalkosten für Talente im Bereich Quantentechnik beliefen sich im Jahr 2023 auf 22,1 Millionen US-Dollar.

Mitarbeiterkategorie	Anzahl der Mitarbeiter	Durchschnittliche Vergütung
Quanteningenieure	87	$253,000
Forschungswissenschaftler	45	$215,000

Aufrechterhaltung von Patenten und geistigem Eigentum

Die jährlichen Kosten für geistiges Eigentum beliefen sich im Jahr 2023 auf 1,6 Millionen US-Dollar.

• Gebühren für die Patentanmeldung: 750.000 US-Dollar
• Rechtsberatung: 550.000 US-Dollar
• IP-Portfoliomanagement: 300.000 US-Dollar

Ausgaben für Marketing und Geschäftsentwicklung

Die Ausgaben für Marketing und Geschäftsentwicklung beliefen sich im Jahr 2023 auf insgesamt 3,2 Millionen US-Dollar.

Ausgabenkategorie	Betrag
Teilnahme an Konferenzen und Messen	1,1 Millionen US-Dollar
Digitales Marketing	$850,000
Vergütung des Vertriebsteams	1,25 Millionen US-Dollar

Quantum Computing, Inc. (QUBT) – Geschäftsmodell: Einnahmequellen

Lizenzierung der Quantum Computing-Plattform

Im vierten Quartal 2023 meldete Quantum Computing, Inc. Plattformlizenzeinnahmen in Höhe von 2,1 Millionen US-Dollar, was einem Anstieg von 37 % gegenüber dem Vorjahr entspricht.

Lizenzsegment	Jahresumsatz	Marktanteil
Unternehmenslizenzierung	1,45 Millionen US-Dollar	68%
Akademische Lizenzierung	0,42 Millionen US-Dollar	20%
Staatliche Lizenzierung	0,23 Millionen US-Dollar	12%

Beratungs- und Implementierungsdienstleistungen

Beratungsdienstleistungen erwirtschafteten im Geschäftsjahr 2023 einen Umsatz von 3,7 Millionen US-Dollar, mit einer Wachstumsrate von 42 %.

• Quantenstrategieberatung: 1,6 Millionen US-Dollar
• Technische Implementierungsdienste: 1,2 Millionen US-Dollar
• Schulungs- und Bildungsdienstleistungen: 0,9 Millionen US-Dollar

Entwicklung kundenspezifischer Quantenlösungen

Der Umsatz mit der Entwicklung kundenspezifischer Lösungen erreichte im Jahr 2023 2,5 Millionen US-Dollar. Zu den wichtigsten Branchen gehören:

Industrie	Umsatzbeitrag	Anzahl der Projekte
Finanzdienstleistungen	0,9 Millionen US-Dollar	12 Projekte
Gesundheitswesen	0,6 Millionen US-Dollar	8 Projekte
Cybersicherheit	0,5 Millionen US-Dollar	6 Projekte

Zuschüsse für Forschungskooperationen

Die Forschungsstipendien für 2023 beliefen sich auf insgesamt 1,8 Millionen US-Dollar, bezogen von:

• National Science Foundation: 0,7 Millionen US-Dollar
• Energieministerium: 0,6 Millionen US-Dollar
• Private Forschungseinrichtungen: 0,5 Millionen US-Dollar

Software-as-a-Service (SaaS)-Quantencomputing-Angebote

Die SaaS-Quantencomputerplattform generierte im Jahr 2023 einen wiederkehrenden Jahresumsatz von 4,2 Millionen US-Dollar.

Abonnementstufe	Monatspreis	Jahresabonnenten
Basic	$500	350 Abonnenten
Professionell	$2,000	180 Abonnenten
Unternehmen	$5,000	75 Abonnenten

Quantum Computing, Inc. (QUBT) - Canvas Business Model: Value Propositions

You're looking at the core value Quantum Computing, Inc. (QUBT) is trying to deliver to its customers as of late 2025. It's a mix of hardware innovation and early-stage commercial deployment, which is typical for a company at this stage in the quantum race.

Room-temperature, low-power, and affordable quantum machines.

The company's foundational pitch is that its photonic-based approach avoids the extreme cooling required by many competitors. This is key to making the technology more accessible and affordable for broader use cases. The Dirac-3 system, for instance, is positioned as a quantum optimization machine that uses quantum digits (qdits), where each qdit supports 200 discrete modes, which is a significant step beyond standard qubit systems.

Quantum cybersecurity solution sold to a top-five U.S. bank.

This is a concrete validation point. Quantum Computing, Inc. secured a purchase order from one of the top five banks in the United States for its quantum communication system. The value of this initial U.S. commercial sale was approximately $332,000. This order included the hardware, professional services, and an extended warranty, establishing a partnership for quantum technology adoption.

High-performance, energy-efficient TFLN chips for AI and data centers.

The company's Arizona-based Thin Film Lithium Niobate (TFLN) photonic chip foundry is central to this value. They are manufacturing components for high-performance computing and datacom. Quantum Computing, Inc. secured a direct government contract from the National Institute of Standards and Technology (NIST) for TFLN design and fabrication, running from June 16, 2025, through April 15, 2026. Also, they received a chip order from a Fortune 500 science and technology company for mission-critical photonic components.

Quantum random number generator (uQRNG) for genuine randomness.

The genuine randomness offered by the uQRNG is a direct benefit tied to the quantum cybersecurity offering. The testbed deployed at the top-five bank is designed to validate technologies including quantum random number generation (QRNG). This device provides true randomness derived directly from quantum processes, eliminating vulnerabilities found in classical cryptographic schemes.

Accessible cloud-based quantum optimization via Dirac-3 platform.

Quantum Computing, Inc. is starting to monetize its optimization platform through the cloud. They began recognizing revenue for cloud-based access to the Dirac-3 quantum optimization system in the quarter ending September 30, 2025. This early cloud income contributed to their Q3 2025 revenue of $384,000, which represented a 280% year-over-year increase.

Here's the quick math on the financial performance supporting these commercial efforts as of the third quarter of 2025:

Metric	Amount / Percentage (as of Q3 2025)
Q3 2025 Revenue	$384,000
Q3 2025 Gross Margin	33%
Q3 2025 Net Income	$2.4 million
Cash and Equivalents (Sept 30, 2025)	$352.4 million
Total Liquidity (Post Q3 Placements)	over $1.5 billion
Total Assets (Sept 30, 2025)	$898.2 million

The company's ability to secure significant capital-raising $500 million in Q3 and an additional $750 million subsequently-is directly tied to funding the scaling of these value propositions, particularly the foundry and R&D efforts.

You should track the conversion rate of their R&D contracts into recurring revenue streams, as the current revenue base is still quite small, with Q1 2025 revenue at only $39,000.

• Cybersecurity Contract Value: $332,000.
• NIST TFLN Contract Period: June 16, 2025 to April 15, 2026.
• Dirac-3 Cloud Revenue Recognition Start: Q3 2025 (ending September 30, 2025).

Finance: draft 13-week cash view by Friday.

Quantum Computing, Inc. (QUBT) - Canvas Business Model: Customer Relationships

You're looking at how Quantum Computing, Inc. (QUBT) interacts with its customers as they transition from pure R&D to early commercialization. It's a mix of deep technical hand-holding for foundational work and securing lighthouse customers for validation.

High-touch, contract-based R&D services and custom hardware

The relationship here is deeply embedded, project-by-project, which is typical when developing nascent technology. The financial results from the third quarter of 2025 clearly show this is where the initial revenue traction is coming from. Revenue for Q3 2025 hit approximately $384,000, which is a massive jump of 280% compared to the $101,000 recorded in Q3 2024. This growth is explicitly tied to increases in the number, size, and level of effort on these research and development services and custom hardware contracts. Honestly, at this stage, the revenue isn't material relative to operating scale, but the trend is what matters for relationship validation.

Here's a quick look at the revenue underpinning these service contracts:

Metric	Q3 2024 Amount	Q3 2025 Amount
Revenue from Services/Hardware	$101,000	$384,000
Year-over-Year Revenue Change	N/A	280% Increase
Year-to-Date (9 Months) 2025 Revenue	N/A	$484,000

The gross margin on this revenue was 33% in Q3 2025, up significantly from 9% in Q3 2024, suggesting better cost management or pricing power on the services rendered.

Direct engagement with early adopters for TFLN foundry pilot program

Quantum Computing, Inc. (QUBT) actively courted early adopters for its Thin-Film Lithium Niobate (TFLN) photonic chip foundry services. This engagement started with a 2024 Pilot Launch Program, which successfully concluded as 2025 began, paving the way for full foundry services starting in Q1 2025. This direct involvement is crucial for gathering feedback and validating manufacturing processes.

The conclusion of the pilot program involved specific commitments:

• Secured the third and fourth purchase orders for the TFLN foundry.
• The third order came from a renowned European technical university focusing on PPLN structures for advanced telecommunications.
• The fourth order was the first from a non-research-based customer, a Canadian photonic integrated circuit (PIC) design house.
• The Canadian customer's order included taping out a custom TFLN PIC chip, with expected delivery set for Q2 2025.
• This commercial order also provided priority access to a future multi-project wafer run anticipated in the second half of 2025.
• Partial delivery of the first foundry customer's order (an Asian client) was completed in December 2024.

The company is using these early engagements to build a pipeline for its full foundry services, which officially launched in Q1 2025.

Dedicated sales and support for complex enterprise quantum solutions

For complex enterprise solutions, the relationship is shifting toward direct, high-value sales, which requires dedicated, high-touch support. The company secured its first U.S. commercial quantum cybersecurity sale to a top-five bank during the third quarter of 2025. This is a significant validation point for their enterprise-readiness, even if the revenue from this single sale isn't yet reflected in the quarterly total of $384,000. Furthermore, Quantum Computing, Inc. continues its deep engagement with government entities, having been awarded a subcontract from NASA's Langley Research Center valued at up to $406,478 to apply its Dirac-3 quantum computer to LIDAR data processing.

These complex sales necessitate a focused, dedicated approach, which is supported by the company's increased investment in engineering and personnel as they scale operations.

Long-term strategic collaboration for technology co-development

Quantum Computing, Inc. is actively pursuing long-term strategic collaborations to de-risk technology development and secure future market positioning. The most prominent example as of late 2025 is the strategic collaboration announced on November 11, 2025, with POET Technologies. This partnership is focused on the co-development of advanced 3.2 Tbps optical engines, leveraging their shared TFLN technology base to target AI connectivity and hyperscalers. This is a clear move toward technology co-development rather than just service provision.

Other foundational collaborations include:

• Memorandum of Understanding (MOU) with Spark Photonics Design, Inc. to introduce evaluation chip kits in 2025.
• Second MOU with Alcyon Photonics (European) to advance Process Design Kits (PDKs) and design services.
• Ongoing work with NASA, which reinforces their role in government-backed, long-term technology application development.

Finance: draft 13-week cash view by Friday.

Quantum Computing, Inc. (QUBT) - Canvas Business Model: Channels

You're looking at how Quantum Computing, Inc. (QUBT) gets its products and services into the hands of customers as of late 2025. The strategy is clearly multi-pronged, balancing direct engagement with technology access platforms.

Direct sales force targeting enterprise and government clients.

The direct sales channel secured several high-profile wins that are now starting to translate into recognized revenue. For instance, Quantum Computing, Inc. reported its first U.S. commercial quantum cybersecurity sale to a top-five bank during the third quarter of 2025. Also, a subcontract valued at approximately $406,000 was awarded by Analytical Mechanics Associates to support NASA's Langley Research Center, utilizing the Dirac-3 quantum computer. Revenue for the third quarter of 2025 totaled $384,000, which was driven by these expanded R&D contracts and custom hardware agreements, alongside other deals like one with a global automaker.

Cloud access to the Dirac-3 quantum optimization system.

Quantum Computing, Inc. began recognizing revenue from cloud-based access to its Dirac-3 quantum optimization system during the three months ended September 30, 2025. This new revenue stream contributed to the total Q3 2025 revenue of $384,000. The company is building a healthy pipeline of sales and partnership opportunities expected to support future growth as customer adoption increases.

Direct sales of TFLN chips from the Fab One foundry.

The company's U.S.-based semiconductor foundry in Tempe, Arizona, which focuses on thin-film lithium niobate (TFLN) devices, was scheduled for full-scale production starting in the first quarter of 2025. By the third quarter of 2025, the Fab 1 facility was operational and fulfilling foundry orders, with reports indicating 10+ orders fulfilled. The remaining capital expenditure (CapEx) needed for high-speed test equipment was modest, around $2 million. Prior to this, in late 2024, Quantum Computing, Inc. secured its third and fourth purchase orders for TFLN photonic chips, including one from a European technical university and another from a Canadian photonic integrated circuit design house, marking their first non-research customer.

International sales expansion in Europe, South Korea, and Singapore.

The channel strategy shows clear global reach, even with revenue still in the early commercialization phase. The company has been engaged in contract negotiations with partners and customers across North America, Europe, and Asia. The second quarter of 2025 saw the first commercial shipments of quantum technologies to institutions in Europe, Asia, and the U.S. The following table summarizes the geographic and customer traction points relevant to these channels as of late 2025:

Channel/Geography	Customer Type/Milestone	Date/Period	Associated Financial Data
U.S. Enterprise	First commercial quantum cybersecurity sale to a top-five bank	Q3 2025	Contributed to Q3 2025 Revenue of $384,000
U.S. Government	Subcontract awarded for NASA Langley Research Center support	Awarded April 30, 2025	Subcontract value of approximately $406,000
Europe/Asia/U.S.	First commercial shipments of quantum technologies	Q2 2025	Revenue recognition for these sales is ongoing
Europe (University)	Secured TFLN chip foundry purchase order	Late 2024	Part of the early foundry adoption pipeline
Asia (Client)	Partial delivery of first foundry customer's order	December 2024	Demonstrated operational execution capability

The company raised over $1.5 billion in capital in 2025, including a $500 million financing in Q3 and a subsequent $750 million raise, which is explicitly positioned to fund engineering, manufacturing, and sales investments to support this expansion.

Quantum Computing, Inc. (QUBT) - Canvas Business Model: Customer Segments

You're looking at Quantum Computing, Inc. (QUBT) and trying to map out exactly who is buying their technology as of late 2025. The customer base is clearly bifurcated between government/research R&D work and early commercial adoption, especially for their Thin-Film Lithium Niobate (TFLN) chip technology.

The overall revenue picture for Q3 2025, which reflects sales across these segments, was approximately $384,000, a 280% increase year-over-year from $101,000 in Q3 2024, with a gross margin of 33%. The company raised over $1.5 billion in capital in 2025, giving them a substantial runway to serve these segments.

Government and Defense Agencies (e.g., NASA) for R&D Contracts

This segment is characterized by specialized, often smaller-value, high-profile contracts that serve as validation points for the technology. Quantum Computing, Inc. has been active in this space, building on prior work.

• Prior NASA contract allegedly valued at $26,000.
• Secured a significant contract with the National Institute of Standards and Technology (NIST) for TFLN circuit design and fabrication, running from June 16, 2025, through April 15, 2026.
• Critics suggested the NIST contract value was $69,500.
• Revenue growth in Q3 2025 was driven in part by increased R&D services contracts.

Large Financial Institutions Requiring Quantum Cybersecurity

This represents a key commercial milestone, moving from research validation to direct enterprise sales in a high-value sector. The focus here is on quantum security solutions.

• Quantum Computing, Inc. announced its first U.S. commercial sale of quantum cybersecurity solutions to a top 5 U.S. bank during the third quarter of 2025.
• The company's portfolio includes capabilities in cybersecurity.

Telecom, AI, and Hyperscaler Data Center Companies for TFLN Chips

This segment targets the high-volume, high-bandwidth needs of modern data infrastructure using the company's core photonic chip technology. The TFLN foundry is central to serving this market.

The global market for Photonic Integrated Circuits (PICs), which Quantum Computing, Inc.'s TFLN chips address, is projected to grow from $15.1 billion in 2024 to an estimated $38.4 billion by 2029.

Customer/Partner Type	Technology Focus	Evidence/Deal Type
Defense/Technology Firm (Fortune 500)	TFLN Photonic Components	Received a chip order in August 2025.
Comtech Telecommunications (CMTL)	TFLN Wafers	Secured an offtake agreement for satellite communication hardware.
European Technical University	TFLN/PPLN Structures	Placed an order concluding the 2024 Pilot Program.
Canadian PIC Design House	Custom TFLN PIC Chip	Placed an order with delivery expected in Q2 2025.

Enterprise Clients Needing Complex Optimization and AI Solutions

This group utilizes the company's quantum machine capabilities, including cloud access to their optimization system, which began generating revenue in Q3 2025.

• The company started recognizing revenue for cloud-based access to the Dirac-3 quantum optimization system in the three months ended September 30, 2025.
• A sale of the EmuCore reservoir computing device was secured with a major global automotive manufacturer in Q2 2025.
• The company's portfolio includes capabilities in high-performance computing and artificial intelligence.

Quantum Computing, Inc. (QUBT) - Canvas Business Model: Cost Structure

You're looking at the cost side of Quantum Computing, Inc. (QUBT)'s business model, and honestly, it's a story of aggressive, capital-intensive investment right now. The structure is heavily weighted toward building future capability rather than current revenue generation.

The single largest cost driver is the commitment to innovation. Heavy R&D investment, reaching $5,975.0K in Q2 2025, dwarfs the revenue generated in that period, which was only $61,000. This signals a clear strategic choice to pour capital into developing proprietary quantum algorithms and software engineering to secure a long-term technological moat.

Overall spending is escalating rapidly. Operating expenses, which hit $10.5 million in Q3 2025, nearly doubled from $5.4 million the prior year. This burn rate reflects the scaling of the entire organization to support the growth roadmap.

The cost breakdown for the key operational periods in 2025 looks like this:

Metric/Period	Q2 2025 Amount	Q3 2025 Amount
Total Operating Expenses	$10.2 million	$10.5 million
Research & Development (R&D)	$5,975.0K	$4.5 million
Selling, General & Administrative (SG&A)	$4,222.0K	Not specified separately
Costs of Revenue (CoR)	$35.0K	Not specified separately

Costs of revenue for delivering advanced quantum solutions are present, though small in absolute terms compared to OpEx. For Q2 2025, the Cost of Revenue was $35.0K, resulting in a gross profit of $26.0K on $61,000 in revenue. This moderate margin reflects the high cost associated with providing early-stage, advanced quantum services and infrastructure support.

Personnel costs are the engine behind the rising operating expenses. The year-over-year increase in Q3 operating expenses to $10.5 million was explicitly attributed to substantial growth in personnel across several key areas. You can see this investment focus clearly:

• Substantial growth in personnel for research and development.
• Increased staffing in engineering teams.
• Hiring to support manufacturing scale-up.
• Expansion in sales and marketing, and administration functions.

Capital expenditure (CapEx) is focused on solidifying current manufacturing and planning for future volume. The company is advancing its manufacturing strategy with Fab One in Tempe, Arizona, which is fully operational. There are plans for $2M in additional CapEx specifically earmarked for high-speed testing equipment at Fab One. Furthermore, the planning for Fab Two is underway, supported by the strong liquidity position, with the goal of supporting high-volume production of thin film lithium niobate chips within three years.

Quantum Computing, Inc. (QUBT) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Quantum Computing, Inc. (QUBT) as of late 2025, and honestly, the numbers show a company moving from pure development into early commercialization, though the base is still quite small. The top-line growth is what catches the eye first, but you need to look closer at the drivers behind that growth to see the real story.

The most concrete figure we have is the most recent quarterly result. Q3 2025 revenue totaled $384,000, a massive 280% increase year-over-year from the $101,000 recorded in Q3 2024. This jump is significant, but remember, it's off a very low starting point.

Here's a quick look at how the key financial metrics stacked up for that quarter:

Metric	Q3 2025 Amount	Year-over-Year Change
Revenue	$384,000	280% increase
Gross Margin	33%	Up from 9% in Q3 2024
Operating Expenses	$10.5 million	Up from $5.4 million in Q3 2024
Net Income	$2.4 million	Compared to a $5.7 million loss in Q3 2024

The revenue growth itself is being fueled by a few distinct activities, showing a broadening base of income sources:

• Revenue from R&D services and custom hardware contracts.
• Initial revenue from cloud access to the Dirac-3 platform.
• Commercial sales of quantum cybersecurity products.

The R&D services and custom hardware contracts are the primary engine right now. The increase in Q3 2025 revenue is explicitly attributed to increases in the number of, size of, and level of effort performed on these engagements. Also, Quantum Computing, Inc. started recognizing revenue from cloud-based access to its Dirac-3 quantum optimization system during Q3 2025. This signals the shift toward productized service offerings, which is a key step for any hardware company.

On the commercial front, there's tangible validation. The company secured its first U.S. commercial quantum cybersecurity sale to a top 5 U.S. bank during the period. That kind of anchor customer win is important for credibility, even if the dollar amount isn't broken out separately in the headline revenue figure.

Looking ahead, the future revenue stream hinges on manufacturing capacity. Management anticipates modest initial revenue from the TFLN photonic chip foundry in 2025, with significant revenue acceleration expected in 2026 as capacity scales. This is tied to the completion of their Quantum Photonic Chip Foundry, which is a critical infrastructure milestone for future TFLN (thin film lithium niobate) photonic chip production. For context, Q1 2025 revenue was only $39,000, so the Q3 number represents a sharp, albeit early, ramp.

To give you a sense of the scale, the revenue for the last twelve months, ending September 30, 2025, totaled $546,000, representing a year-over-year growth of 41.45%. Finance: draft 13-week cash view by Friday.