v3.26.1
Nature of the Organization and Business
6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Nature of the Organization and Business Nature of the Organization and Business
Corporate History
Quantum Computing Inc. (“QCi,” the “Company” or “us”) was originally incorporated in the State of Nevada on July 25, 2001, under a predecessor name. On February 22, 2018, the Company redomiciled to Delaware and changed its name to Quantum Computing Inc. in connection with its transition to a quantum computing technology business. The Company’s common stock, par value $0.0001, has traded on the Nasdaq Capital Market under the symbol "QUBT" since July 15, 2021. On June 16, 2022, the Company merged with QPhoton, Inc. (“QPhoton”) (the “QPhoton Merger”), a developer of quantum photonic systems and related technologies and applications. The QPhoton Merger enabled us to develop hardware applications integrated with the Company’s software platform, Qatalyst, that existed before the QPhoton Merger.
In February 2026, the Company completed its acquisition of Luminar Semiconductor, Inc. (“LSI”), a manufacturer and supplier of photonic components that are important building blocks on QCi’s technology roadmap. The LSI acquisition brings QCi a portfolio of core photonic technologies, patents, and a highly experienced team of engineers and scientists that are expected to accelerate QCi’s roadmap while continuing to support and grow LSI’s established customer base.
In March 2026, the Company acquired NuCrypt, LLC (“NuCrypt”), a quantum communications technology company. NuCrypt contributes expertise in generating, distributing, and measuring entangled photons over fiber optic links, which is expected to enhance QCi’s development of quantum security products. The NuCrypt acquisition helps establish quantum communications as an important commercialization vertical within QCi’s broader quantum technology strategy. By integrating NuCrypt’s quantum communications systems and products, QCi is expanding its portfolio of quantum secure communications and quantum photonics solutions while advancing its broader quantum technology roadmap.

In June 2026, the Company acquired NHanced Semiconductors, Inc. ("NHanced"), a U.S. based packaging foundry with expertise in hybrid bonding, chiplet architectures, silicon interposers, photonic device integration, advanced semiconductor packaging and manufacturing. The NHanced acquisition launched QCi’s Fab 2 initiative ahead of schedule and significantly expanded the Company’s advanced packaging and semiconductor manufacturing capabilities. NHanced strengthens QCi’s production infrastructure for nanophotonics and thin-film lithium niobate (“TFLN”) technologies while increasing production capacity, operational flexibility and U.S.-based manufacturing capabilities. The NHanced acquisition also expands QCi’s ability to support commercial and government customers across photonics, semiconductor manufacturing, artificial intelligence, defense, aerospace, telecommunications and quantum technologies.

Nature of Business
QCi is an American company utilizing integrated photonics, non-linear quantum optics, and advanced manufacturing to develop and deliver machines for quantum computing, reservoir computing, remote sensing, imaging and cybersecurity applications based on patented and proprietary photonics technology. QCi’s products are designed to operate at room temperature and at very low power levels compared to other quantum systems currently available in the market, such as superconducting, ion-trap, or annealing architectures. We believe that our core technology enables the execution of a go-to-market strategy which emphasizes scalability, accessibility and affordability. Our quantum machines, supported by professional services through our “Quantum Solutions” offering, enable subject matter experts ("SMEs") and end users to deliver critical business solutions involving highly complex optimization problems. Through our LSI and NHanced subsidiaries, QCi also offers a range of photonic components and products, as well as engineering, manufacturing and advanced semiconductor packaging services.

Our leading quantum products today are our Entropy Quantum Computer (“EQC”), reservoir computer, photonic vibrometer, and quantum secured communication systems. Our longer-term product development plan is to migrate our current designs, as well as other product designs based on discrete components, to a set of thin film lithium niobate ("TFLN") optical integrated circuits built on TFLN wafers. We believe that the acquisitions of LSI, NuCrypt and NHanced will accelerate our technology roadmap by enhancing our capabilities in integrated photonics and quantum security, which will broaden our quantum secured network product line and support the Company’s initiatives to further integrate and miniaturize certain products for commercial and government customers. In addition, QCi offers LSI’s portfolio of photonic semiconductor products, including lasers, photo detectors and avalanche diodes, as well as NHanced's engineering and advanced packaging services.
Liquidity
The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the continuity of operations, the realization of assets, and the satisfaction of liabilities in the normal course of business. As of June 30, 2026, the Company had cash and cash equivalents on hand of $189.2 million, $1.1 billion of short-term and long-term investments, accumulated deficit of $235.0 million, and working capital of $969.7 million. As a result, the Company has adequate liquid assets on hand to meet its obligations over the next 12 months.