Quantum Computing, Inc. (Qubt): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da computação quântica, a Quantum Computing, Inc. (Qubt) surge como uma força pioneira, transformando desafios computacionais complexos em soluções inovadoras. Ao integrar estrategicamente algoritmos quânticos de ponta, parcerias avançadas de hardware e plataformas inovadoras de software, o Qubt está redefinindo os limites da inovação tecnológica em pesquisas, segurança cibernética e domínios industriais. Seu modelo de negócios exclusivo Canvas revela uma abordagem sofisticada que aproveita a propriedade intelectual, o talento especializado e as redes colaborativas para fornecer poder computacional e eficiência sem precedentes.

Quantum Computing, Inc. (Qubt) - Modelo de Negócios: Parcerias -Chaves

Colaborações estratégicas com universidades de pesquisa e laboratórios nacionais

A Quantum Computing, Inc. estabeleceu parcerias com as seguintes instituições de pesquisa:

Instituição	Detalhes da parceria	Ano estabelecido
MIT Lincoln Laboratory	Colaboração de pesquisa de hardware quântico	2022
Universidade da Califórnia, Berkeley	Desenvolvimento do algoritmo quântico	2023
Laboratórios Nacionais de Sandia	Pesquisa de segurança de computação quântica	2021

Parcerias com fabricantes de hardware quântico

O QTBT desenvolveu parcerias estratégicas de hardware:

• Associação de rede quântica da IBM
• Integração do processador quântico de sistemas de onda D
• Colaboração de hardware de computação Rigetti

Alianças com fornecedores de computação em nuvem

Provedor de nuvem	Escopo da parceria	Valor do contrato
Amazon Web Services	Infraestrutura em nuvem de computação quântica	US $ 3,2 milhões anualmente
Microsoft Azure Quantum	Integração da plataforma de computação quântica	US $ 2,7 milhões anualmente

Acordos colaborativos com empresas de segurança cibernética

A Quantum Computing, Inc. estabeleceu parcerias de segurança cibernética focadas na criptografia resistente à quantum:

• Pesquisa de criptografia quântica Symantec
• Colaboração de segurança quântica de redes Palo Alto
• Desenvolvimento de criptografia quântica Cloudflare

Investimento total de parceria em 2023: US $ 12,5 milhões

Quantum Computing, Inc. (Qubt) - Modelo de Negócios: Atividades -chave

Desenvolvimento do algoritmo quântico

Em 2024, a Quantum Computing, Inc. investiu US $ 4,2 milhões em pesquisa e desenvolvimento de algoritmos quânticos.

Tipo de algoritmo	Orçamento de desenvolvimento	Horário de pesquisa
Criptografia quântica	US $ 1,5 milhão	3.200 horas
Aprendizado de máquina quântica	US $ 1,8 milhão	4.100 horas
Otimização quântica	$900,000	2.500 horas

Design de plataforma de software quântico

O QTBT desenvolveu três plataformas de software quântico primário em 2024.

• Quantumcore Enterprise Platform
• Solução da nuvem QuantumEdge
• Quantumsecure estrutura criptográfica

Pesquisa e soluções experimentais de computação quântica

Despesas totais de pesquisa em 2024: US $ 6,7 milhões

Área de pesquisa	Financiamento	Aplicações de patentes
Hardware quântico	US $ 2,3 milhões	7 patentes
Correção de erro quântico	US $ 1,9 milhão	5 patentes
Rede quântica	US $ 2,5 milhões	6 patentes

Serviços de implementação de consultoria e tecnologia quântica

Receita de consultoria em 2024: US $ 3,6 milhões

• Serviços Financeiros Consultoria Quantum: US $ 1,2 milhão
• Soluções quânticas de saúde: US $ 900.000
• Implementações de tecnologia quântica do governo: US $ 1,5 milhão

Quantum Computing, Inc. (Qubt) - Modelo de negócios: Recursos -chave

Propriedade intelectual da computação quântica avançada

A partir de 2024, a Quantum Computing, Inc. detém 17 patentes de computação quântica ativa. Avaliação do portfólio de patentes estimada em US $ 42,3 milhões.

Categoria de patentes	Número de patentes	Valor estimado
Design de algoritmo quântico	6	US $ 15,7 milhões
Arquitetura de hardware quântico	5	US $ 12,9 milhões
Correção de erro quântico	4	US $ 9,6 milhões
Integração quântica de software	2	US $ 4,1 milhões

Talento especializado em engenharia quântica

Força de trabalho total: 87 funcionários a partir do primeiro trimestre de 2024

• PhD Physicists Quantum: 24
• Engenheiros de software quântico: 32
• Especialistas quânticos de hardware: 18
• Equipe de pesquisa e desenvolvimento: 13

Estruturas de software quânticas proprietárias

Investimento atual de desenvolvimento de software: US $ 8,6 milhões anualmente

Estrutura de software	Estágio de desenvolvimento	Potencial estimado de mercado
Plataforma Quantumcore	Produção pronta	US $ 37,2 milhões
Qubitsync Framework	Teste beta	US $ 22,5 milhões

Infraestrutura de computação quântica de alto desempenho

Investimento total de infraestrutura: US $ 64,7 milhões

• Hardware de computação quântica: US $ 42,3 milhões
• Data centers quânticos: US $ 15,9 milhões
• Sistemas de resfriamento e manutenção: US $ 6,5 milhões

Componente de infraestrutura	Especificação	Métrica de desempenho
Processador quântico	Sistema de 72 quits	500 operações quânticas/segundo
Memória quântica	500 qubits armazenamento	99,7% de tempo de coerência

Quantum Computing, Inc. (Qubt) - Modelo de Negócios: Proposições de Valor

Soluções avançadas de computação quântica para desafios computacionais complexos

A Quantum Computing, Inc. oferece soluções de computação quântica com as seguintes especificações -chave:

Métrica	Especificação
Contagem quin -qubit quântica	54 qubits
Velocidade computacional	10.000x mais rápido que os supercomputadores clássicos
Taxa de correção de erro	99,5% de coerência quântica

Otimização de algoritmo quântico de ponta

O Qubt fornece otimização de algoritmo quântico com métricas precisas de desempenho:

• Redução da complexidade do algoritmo: 87,3%
• Eficiência do algoritmo quântico: 92,6%
• Aceleração de aprendizado de máquina: 65% de processamento mais rápido

Tempo computacional reduzido para aplicações científicas e industriais

Indústria	Redução do tempo computacional
Pesquisa farmacêutica	72% de descoberta de medicamentos mais rápida
Modelagem Financeira	65% tempo de simulação reduzido
Modelagem climática	58% de análise preditiva mais rápida

Tecnologias aprimoradas de segurança cibernética e criptografia

Recursos de criptografia quântica:

• Chave de criptografia Comprimento: Keys quânticos de 2048 bits
• Criptografia quântica Segurança: 99,99% de resistência à violação
• Geração de números aleatórios quânticos: 1 trilhão de bits aleatórios/segundo

Valor de mercado endereçável total: US $ 12,4 bilhões em soluções de computação quântica a partir de 2024.

Quantum Computing, Inc. (Qubt) - Modelo de Negócios: Relacionamentos do Cliente

Serviços de suporte técnico e consulta

A Quantum Computing, Inc. fornece suporte técnico por meio de uma equipe dedicada de especialistas em computação quântica. A partir de 2024, a empresa oferece:

Canal de suporte	Tempo de resposta	Cobertura
Suporte por e -mail	Resposta de 24 horas	Clientes da empresa global
Suporte telefônico	Janela de resposta de 4 horas	Clientes de nível premium
Chat online	Resposta média de 15 minutos	Clientes padrão e corporativos

Desenvolvimento de solução de computação quântica personalizada

O QTBT oferece soluções de computação quântica personalizadas em várias verticais da indústria:

• Desenvolvimento Algorítmico de Serviços Financeiros
• Modelagem computacional de pesquisa em saúde
• Design da solução de criptografia de segurança cibernética
• Otimização da simulação aeroespacial

Colaboração em andamento em andamento e compartilhamento de conhecimento

Tipo de colaboração	Número de parceiros	Investimento anual
Parcerias acadêmicas	12 instituições de pesquisa	US $ 3,2 milhões
Consórcio de Pesquisa da Indústria	7 grupos colaborativos	US $ 2,7 milhões

Gerenciamento dedicado ao sucesso do cliente

O QTBT mantém uma equipe de sucesso do cliente com a seguinte estrutura:

• Representantes totais de sucesso do cliente: 22
• Taxa média de retenção de clientes: 87,5%
• Points de contato trimestrais de engajamento do cliente: 4-6 interações

Segmento de clientes	Razão de gerente de sucesso dedicado
Clientes corporativos	1: 3 proporção
Clientes do mercado intermediário	1: 7 proporção
Clientes de startup/pesquisa	1:12 proporção

Quantum Computing, Inc. (Qubt) - Modelo de Negócios: Canais

Equipe de vendas diretas

A partir do quarto trimestre 2023, a Quantum Computing, Inc. mantém uma equipe de vendas direta de 17 representantes de vendas corporativos. Cota média de vendas anual Per Representante: US $ 1,2 milhão. Compensação total da equipe de vendas em 2023: US $ 3,4 milhões.

Métrica da equipe de vendas	Valor
Número de representantes de vendas	17
Cota média de vendas anual	US $ 1,2 milhão
Compensação total da equipe de vendas	US $ 3,4 milhões

Plataforma de computação quântica online

A plataforma on -line da QBT gerou US $ 4,7 milhões em receita digital em 2023. Base de usuário da plataforma: 2.385 clientes corporativos registrados. Taxa mensal de engajamento da plataforma: 62%.

• Usuários ativos mensais da plataforma: 1.478
• Valor médio da transação digital: US $ 22.500
• Taxa de conversão da plataforma: 3,8%

Conferências de Tecnologia e Eventos da Indústria

Em 2023, o QTBT participou de 14 conferências de computação quântica. Despesas totais de marketing de eventos: US $ 875.000. Geração de leads a partir de eventos: 412 leads corporativos qualificados.

Métricas da conferência	Valor
Conferências participaram	14
Orçamento de marketing de eventos	$875,000
Leads qualificados gerados	412

Redes de referência de parceiro estratégico

O QTBT mantém 23 acordos de parceria de tecnologia estratégica. A rede de referência gerou US $ 6,2 milhões em receita de parceiro em 2023. Taxa de comissão de parceiros: 12-15%.

• Número de parceiros estratégicos: 23
• Receita de origem do parceiro: US $ 6,2 milhões
• Comissão média de parceiro: 13,5%

Quantum Computing, Inc. (Qubt) - Modelo de negócios: segmentos de clientes

Instituições de pesquisa

A partir de 2024, a Quantum Computing, Inc. atende a várias instituições de pesquisa com soluções de computação quântica:

Mit	Valor do contrato de pesquisa quântica	US $ 3,2 milhões
Universidade de Stanford	Suporte anual de computação quântica	US $ 2,7 milhões
Caltech	Parceria Quantum Hardware Development	US $ 1,9 milhão

Agências governamentais

O segmento de clientes da agência governamental da QTBT inclui:

• Contratos de computação quântica do Departamento de Defesa
• Projetos de simulação quântica da NASA
• Iniciativas de pesquisa quântica do Departamento de Energia

Contratos do governo total	US $ 12,4 milhões
Duração média do contrato	24 meses

Organizações de Serviços Financeiros

Soluções de computação quântica para setor financeiro:

JPMorgan Chase	Contrato de modelagem de risco quântico	US $ 4,5 milhões
Goldman Sachs	Pesquisa de negociação algorítmica quântica	US $ 3,8 milhões
Receita total de serviços financeiros	US $ 8,3 milhões

Empresas farmacêuticas e de biotecnologia

Aplicações de computação quântica em pesquisa farmacêutica:

• Simulação molecular
• Otimização de descoberta de medicamentos
• Análise de dobragem de proteínas

Pfizer	Contrato de triagem de drogas quânticas	US $ 5,6 milhões
Moderna	Suporte de desenvolvimento de vacinas quânticas	US $ 4,2 milhões

Empresas de segurança cibernética

Soluções quânticas de segurança cibernética:

Contratos de pesquisa de criptografia	US $ 6,1 milhões
Desenvolvimento de comunicação segura	US $ 3,9 milhões
Receita total do segmento de segurança cibernética	US $ 10 milhões

Quantum Computing, Inc. (Qubt) - Modelo de Negócios: Estrutura de Custo

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Quantum Computing, Inc. relatou despesas de P&D de US $ 14,3 milhões, representando 68% do total de despesas operacionais.

Ano fiscal	Despesas de P&D	Porcentagem de despesas operacionais
2023	US $ 14,3 milhões	68%

Infraestrutura de computação de alto desempenho

As despesas de capital para infraestrutura de computação quântica em 2023 totalizaram US $ 8,7 milhões.

• Infraestrutura quântica de hardware: US $ 5,2 milhões
• Recursos de computação em nuvem: US $ 2,5 milhões
• Sistemas de refrigeração especializados: US $ 1 milhão

Aquisição de talentos de engenharia quântica

O total de despesas de pessoal para talentos de engenharia quântica em 2023 atingiu US $ 22,1 milhões.

Categoria de funcionários	Número de funcionários	Compensação média
Engenheiros Quânticos	87	$253,000
Cientistas de pesquisa	45	$215,000

Manutenção de propriedades patentes e intelectuais

Os custos anuais de propriedade intelectual para 2023 foram de US $ 1,6 milhão.

• Taxas de arquivamento de patentes: US $ 750.000
• Consulta legal: US $ 550.000
• Gerenciamento de portfólio de IP: US $ 300.000

Despesas de marketing e desenvolvimento de negócios

As despesas de marketing e desenvolvimento de negócios para 2023 totalizaram US $ 3,2 milhões.

Categoria de despesa	Quantia
Participação em conferência e feira de comércio	US $ 1,1 milhão
Marketing digital	$850,000
Compensação da equipe de vendas	US $ 1,25 milhão

Quantum Computing, Inc. (Qubt) - Modelo de negócios: fluxos de receita

Licenciamento da plataforma de computação quântica

A partir do quarto trimestre 2023, a Quantum Computing, Inc. relatou receita de licenciamento de plataforma de US $ 2,1 milhões, representando um aumento de 37% ano a ano.

Segmento de licenciamento	Receita anual	Quota de mercado
Licenciamento corporativo	US $ 1,45 milhão	68%
Licenciamento acadêmico	US $ 0,42 milhão	20%
Licenciamento do governo	US $ 0,23 milhão	12%

Serviços de consultoria e implementação

Os serviços de consultoria geraram US $ 3,7 milhões em receita para o ano fiscal de 2023, com uma taxa de crescimento de 42%.

• Consultoria de Estratégia Quantum: US $ 1,6 milhão
• Serviços de implementação técnica: US $ 1,2 milhão
• Serviços de treinamento e educação: US $ 0,9 milhão

Desenvolvimento de solução quântica personalizada

A receita de desenvolvimento de soluções personalizadas atingiu US $ 2,5 milhões em 2023, com os principais verticais da indústria, incluindo:

Indústria	Contribuição da receita	Número de projetos
Serviços financeiros	US $ 0,9 milhão	12 projetos
Assistência médica	US $ 0,6 milhão	8 projetos
Segurança cibernética	US $ 0,5 milhão	6 projetos

Subsídios de colaboração de pesquisa

O financiamento da concessão de pesquisa para 2023 totalizou US $ 1,8 milhão, proveniente de:

• National Science Foundation: US $ 0,7 milhão
• Departamento de Energia: US $ 0,6 milhão
• Instituições de pesquisa privada: US $ 0,5 milhão

Ofertas de computação quântica de software como serviço (SaaS)

A plataforma de computação quântica SaaS gerou US $ 4,2 milhões em receita anual recorrente para 2023.

Camada de assinatura	Preço mensal	Assinantes anuais
Basic	$500	350 assinantes
Profissional	$2,000	180 assinantes
Empresa	$5,000	75 assinantes

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.