Computación Cuántica, Inc. (QUBT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución de la computación cuántica, Quantum Computing, Inc. (QuBT) surge como una fuerza pionera, transformando desafíos computacionales complejos en soluciones innovadoras. Al integrar estratégicamente los algoritmos cuánticos de vanguardia, las asociaciones de hardware avanzadas y las plataformas de software innovadoras, QuBT está redefiniendo los límites de la innovación tecnológica entre la investigación, la ciberseguridad y los dominios industriales. Su lienzo de modelo de negocio único revela un enfoque sofisticado que aprovecha la propiedad intelectual, el talento especializado y las redes colaborativas para ofrecer una potencia y eficiencia computacional sin precedentes.

Quantum Computing, Inc. (QuBT) - Modelo de negocio: asociaciones clave

Colaboraciones estratégicas con universidades de investigación y laboratorios nacionales

Quantum Computing, Inc. ha establecido asociaciones con las siguientes instituciones de investigación:

Institución	Detalles de la asociación	Año establecido
Laboratorio MIT Lincoln	Colaboración de investigación de hardware cuántico	2022
Universidad de California, Berkeley	Desarrollo de algoritmo cuántico	2023
Laboratorios nacionales de Sandia	Investigación de seguridad de la computación cuántica	2021

Asociaciones con fabricantes de hardware cuántico

QuBT ha desarrollado asociaciones de hardware estratégicas:

• Membresía de la red cuántica de IBM
• Integración del procesador cuántico de D-Wave Systems
• Colaboración de hardware de computación Rigetti

Alianzas con proveedores de computación en la nube

Proveedor de nubes	Alcance de la asociación	Valor de contrato
Servicios web de Amazon	Infraestructura de la nube de computación cuántica	$ 3.2 millones anualmente
Microsoft Azure Quantum	Integración de la plataforma de computación cuántica	$ 2.7 millones anualmente

Acuerdos de colaboración con empresas de ciberseguridad

Quantum Computing, Inc. ha establecido asociaciones de ciberseguridad centradas en el cifrado resistente a la cantidad:

• Investigación de criptografía cuántica de Symantec
• Palo Alto Networks Colaboración de seguridad cuántica
• Desarrollo de cifrado cuántico de Cloudflare

Inversión total de asociación en 2023: $ 12.5 millones

Quantum Computing, Inc. (QuBT) - Modelo de negocio: actividades clave

Desarrollo de algoritmo cuántico

En 2024, Quantum Computing, Inc. invirtió $ 4.2 millones en investigación y desarrollo de algoritmos cuánticos.

Tipo de algoritmo	Presupuesto de desarrollo	Horas de investigación
Criptografía cuántica	$ 1.5 millones	3,200 horas
Aprendizaje automático cuántico	$ 1.8 millones	4.100 horas
Optimización cuántica	$900,000	2.500 horas

Diseño de plataforma de software cuántico

QUBT desarrolló tres plataformas primarias de software cuántico en 2024.

• Plataforma de Enterprise QuantumCore
• Solución de nubes de Quantumedge
• Marco criptográfico QuantumSecure

Investigación y soluciones experimentales de computación cuántica

Gasto total de investigación en 2024: $ 6.7 millones

Área de investigación	Fondos	Solicitudes de patentes
Hardware cuántico	$ 2.3 millones	7 patentes
Corrección de error cuántico	$ 1.9 millones	5 patentes
Redes cuánticas	$ 2.5 millones	6 patentes

Servicios de implementación de consultoría y tecnología cuántica

Ingresos de consultoría en 2024: $ 3.6 millones

• Servicios financieros Consultoría cuántica: $ 1.2 millones
• Soluciones cuánticas de atención médica: $ 900,000
• Implementaciones de tecnología cuántica del gobierno: $ 1.5 millones

Quantum Computing, Inc. (QuBT) - Modelo de negocio: recursos clave

Propiedad intelectual de computación cuántica avanzada

A partir de 2024, Quantum Computing, Inc. posee 17 patentes activas de computación cuántica. Valoración de la cartera de patentes estimada en $ 42.3 millones.

Categoría de patente	Número de patentes	Valor estimado
Diseño de algoritmo cuántico	6	$ 15.7 millones
Arquitectura de hardware cuántico	5	$ 12.9 millones
Corrección de error cuántico	4	$ 9.6 millones
Integración de software cuántico	2	$ 4.1 millones

Talento especializado de ingeniería cuántica

Fuerza laboral total: 87 empleados a partir del primer trimestre de 2024

• PhD Quantum Physicists: 24
• Ingenieros de software cuántico: 32
• Especialistas de hardware cuántico: 18
• Equipo de investigación y desarrollo: 13

Marcos de software cuántico patentados

Inversión actual de desarrollo de software: $ 8.6 millones anuales

Marco de software	Etapa de desarrollo	Potencial de mercado estimado
Plataforma cuántica	Producción lista	$ 37.2 millones
Marco QUBITSYNC	Prueba beta	$ 22.5 millones

Infraestructura de computación cuántica de alto rendimiento

Inversión total de infraestructura: $ 64.7 millones

• Hardware de computación cuántica: $ 42.3 millones
• Centros de datos cuánticos: $ 15.9 millones
• Sistemas de enfriamiento y mantenimiento: $ 6.5 millones

Componente de infraestructura	Especificación	Métrico de rendimiento
Procesador cuántico	Sistema de 72 qubit	500 operaciones cuánticas/segundo
Memoria cuántica	500 qubits almacenamiento	99.7% Tiempo de coherencia

Quantum Computing, Inc. (QuBT) - Modelo de negocio: propuestas de valor

Soluciones de computación cuántica avanzadas para desafíos computacionales complejos

Quantum Computing, Inc. ofrece soluciones de computación cuántica con las siguientes especificaciones clave:

Métrico	Especificación
Recuento cuántico de qubit	54 QUBITS
Velocidad computacional	10,000x más rápido que las supercomputadoras clásicas
Tasa de corrección de errores	99.5% de coherencia cuántica

Optimización de algoritmo cuántico de vanguardia

QuBT proporciona optimización de algoritmo cuántico con métricas de rendimiento precisas:

• Reducción de la complejidad del algoritmo: 87.3%
• Eficiencia de algoritmo cuántico: 92.6%
• Aceleración de aprendizaje automático: 65% de procesamiento más rápido

Tiempo computacional reducido para aplicaciones científicas e industriales

Industria	Reducción del tiempo computacional
Investigación farmacéutica	72% de descubrimiento de drogas más rápido
Modelado financiero	65% de tiempo de simulación reducido
Modelado climático	58% de análisis predictivo más rápido

Tecnologías de ciberseguridad y cifrado mejoradas

Capacidades de cifrado cuántico:

• Longitud de la clave de cifrado: claves cuánticas de 2048 bits
• Seguridad de la criptografía cuántica: 99.99% Resistencia a la violación
• Generación de números aleatorios cuánticos: 1 billón de bits aleatorios/segundo

Valor de mercado total direccionable: $ 12.4 mil millones en soluciones de computación cuántica a partir de 2024.

Quantum Computing, Inc. (QuBT) - Modelo de negocio: relaciones con los clientes

Soporte técnico y servicios de consulta

Quantum Computing, Inc. proporciona soporte técnico a través de un equipo dedicado de expertos en computación cuántica. A partir de 2024, la compañía ofrece:

Canal de soporte	Tiempo de respuesta	Cobertura
Soporte por correo electrónico	Respuesta las 24 horas	Clientes empresariales globales
Soporte telefónico	Ventana de respuesta de 4 horas	Clientes de nivel premium
Chat en línea	Respuesta promedio de 15 minutos	Clientes estándar y empresariales

Desarrollo de soluciones de computación cuántica personalizada

QuBT ofrece soluciones de computación cuántica a medida en múltiples verticales de la industria:

• Desarrollo algorítmico personalizado de servicios financieros
• Modelado computacional de investigación de salud
• Diseño de solución de cifrado de ciberseguridad
• Optimización de simulación aeroespacial

Colaboración de investigación en curso e intercambio de conocimientos

Tipo de colaboración	Número de socios	Inversión anual
Asociaciones académicas	12 instituciones de investigación	$ 3.2 millones
Consorcios de investigación de la industria	7 grupos de colaboración	$ 2.7 millones

Gestión dedicada del éxito del cliente

QuBT mantiene un equipo de éxito del cliente con la siguiente estructura:

• Representantes de éxito total del cliente: 22
• Tasa promedio de retención de clientes: 87.5%
• Puntos de contacto trimestrales de participación del cliente: 4-6 interacciones

Segmento de clientes	Relación dedicada del gerente de éxito
Clientes empresariales	Relación 1: 3
Clientes del mercado medio	Relación 1: 7
Startup/Investigación de clientes	Relación 1:12

Quantum Computing, Inc. (QuBT) - Modelo de negocio: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, Quantum Computing, Inc. mantiene un equipo de ventas directo de 17 representantes de ventas empresariales. Cuota de ventas anual promedio por representante: $ 1.2 millones. Compensación total del equipo de ventas en 2023: $ 3.4 millones.

Métrica del equipo de ventas	Valor
Número de representantes de ventas	17
Cuota de ventas anual promedio	$ 1.2 millones
Compensación total del equipo de ventas	$ 3.4 millones

Plataforma de computación cuántica en línea

La plataforma en línea de QUBT generó $ 4.7 millones en ingresos digitales en 2023. Base de usuarios de plataforma: 2,385 clientes empresariales registrados. Tasa de participación mensual de la plataforma: 62%.

• Usuarios activos mensuales de plataforma: 1,478
• Valor de transacción digital promedio: $ 22,500
• Tasa de conversión de plataforma: 3.8%

Conferencias tecnológicas y eventos de la industria

En 2023, QUBT participó en 14 conferencias de computación cuántica. Gastos de marketing de eventos totales: $ 875,000. Generación de leads a partir de eventos: 412 clientes potenciales de empresa calificados.

Métricas de conferencia	Valor
Conferencias asistidas	14
Presupuesto de marketing de eventos	$875,000
Clientes potenciales calificados generados	412

Redes de referencia de socios estratégicos

QuBT mantiene 23 acuerdos de asociación de tecnología estratégica. La red de referencia generó $ 6.2 millones en ingresos de origen socio en 2023. Tasa de comisión de socios: 12-15%.

• Número de socios estratégicos: 23
• Ingresos de origen pareja: $ 6.2 millones
• Comisión promedio de socios: 13.5%

Quantum Computing, Inc. (QuBT) - Modelo de negocio: segmentos de clientes

Instituciones de investigación

A partir de 2024, Quantum Computing, Inc. atiende a múltiples instituciones de investigación con soluciones de computación cuántica:

MIT	Valor de contrato de investigación cuántica	$ 3.2 millones
Universidad de Stanford	Soporte anual de computación cuántica	$ 2.7 millones
Caltech	Asociación de desarrollo de hardware cuántico	$ 1.9 millones

Agencias gubernamentales

El segmento de clientes de la agencia gubernamental de QUBT incluye:

• Contratos de computación cuántica del Departamento de Defensa
• Proyectos de simulación cuántica de la NASA
• Iniciativas del Departamento de Investigación Quantum de Energía

Contratos gubernamentales totales	$ 12.4 millones
Duración promedio del contrato	24 meses

Organizaciones de servicios financieros

Soluciones de computación cuántica para el sector financiero:

JPMorgan Chase	Contrato de modelado de riesgo cuántico	$ 4.5 millones
Goldman Sachs	Investigación de comercio algorítmico cuántico	$ 3.8 millones
Ingresos totales de servicios financieros	$ 8.3 millones

Compañías farmacéuticas y de biotecnología

Aplicaciones de computación cuántica en investigación farmacéutica:

• Simulación molecular
• Optimización del descubrimiento de drogas
• Análisis de plegado de proteínas

Pfizer	Contrato de detección de drogas cuánticas	$ 5.6 millones
Moderna	Soporte de desarrollo de vacunas cuánticas	$ 4.2 millones

Empresas de ciberseguridad

Soluciones de seguridad cibernética de computación cuántica:

Contratos de investigación de cifrado	$ 6.1 millones
Desarrollo de comunicación segura	$ 3.9 millones
Ingresos totales del segmento de ciberseguridad	$ 10 millones

Quantum Computing, Inc. (QuBT) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2023, Quantum Computing, Inc. reportó gastos de I + D de $ 14.3 millones, lo que representa el 68% de los gastos operativos totales.

Año fiscal	Gastos de I + D	Porcentaje de gastos operativos
2023	$ 14.3 millones	68%

Infraestructura informática de alto rendimiento

Los gastos de capital para la infraestructura de computación cuántica en 2023 totalizaron $ 8.7 millones.

• Infraestructura de hardware cuántico: $ 5.2 millones
• Recursos de computación en la nube: $ 2.5 millones
• Sistemas de enfriamiento especializados: $ 1 millón

Adquisición de talento de ingeniería cuántica

Los gastos totales de personal para el talento de ingeniería cuántica en 2023 alcanzaron $ 22.1 millones.

Categoría de empleado	Número de empleados	Compensación promedio
Ingenieros cuánticos	87	$253,000
Investigar científicos	45	$215,000

Mantenimiento de patentes e propiedad intelectual

Los costos anuales de propiedad intelectual para 2023 fueron de $ 1.6 millones.

• Tarifas de presentación de patentes: $ 750,000
• Consulta legal: $ 550,000
• Gestión de cartera de IP: $ 300,000

Gastos de marketing y desarrollo empresarial

Los gastos de marketing y desarrollo comercial para 2023 totalizaron $ 3.2 millones.

Categoría de gastos	Cantidad
Participación de la conferencia y feria comercial	$ 1.1 millones
Marketing digital	$850,000
Compensación del equipo de ventas	$ 1.25 millones

Quantum Computing, Inc. (QuBT) - Modelo de negocio: flujos de ingresos

Licencias de plataforma de computación cuántica

A partir del cuarto trimestre de 2023, Quantum Computing, Inc. informó que los ingresos por licencias de la plataforma de $ 2.1 millones, lo que representa un aumento de 37% año tras año.

Segmento de licencia	Ingresos anuales	Cuota de mercado
Licencia empresarial	$ 1.45 millones	68%
Licencia académica	$ 0.42 millones	20%
Licencia gubernamental	$ 0.23 millones	12%

Servicios de consultoría e implementación

Los servicios de consultoría generaron $ 3.7 millones en ingresos para el año fiscal 2023, con una tasa de crecimiento del 42%.

• Consultoría de estrategia cuántica: $ 1.6 millones
• Servicios de implementación técnica: $ 1.2 millones
• Servicios de capacitación y educación: $ 0.9 millones

Desarrollo de soluciones cuánticas personalizadas

Los ingresos por desarrollo de soluciones personalizadas alcanzaron $ 2.5 millones en 2023, con verticales clave de la industria que incluyen:

Industria	Contribución de ingresos	Número de proyectos
Servicios financieros	$ 0.9 millones	12 proyectos
Cuidado de la salud	$ 0.6 millones	8 proyectos
Ciberseguridad	$ 0.5 millones	6 proyectos

Subvenciones de colaboración de investigación

La financiación de la subvención de investigación para 2023 totalizaron $ 1.8 millones, obtenidos de:

• National Science Foundation: $ 0.7 millones
• Departamento de Energía: $ 0.6 millones
• Instituciones de investigación privadas: $ 0.5 millones

Ofertas de computación cuántica de software como servicio (SaaS)

La plataforma de computación cuántica SaaS generó $ 4.2 millones en ingresos anuales recurrentes para 2023.

Nivel de suscripción	Precio mensual	Suscriptores anuales
Basic	$500	350 suscriptores
Profesional	$2,000	180 suscriptores
Empresa	$5,000	75 suscriptores

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.