Overview

* Quantum Computing ( QUBT ) Q3 revenue increased 280% yr/yr, driven by R&D and hardware contracts

* Company reports Q3 net income of $2.4 mln, reversing a loss from last year

* Company raised $750 mln post-Q3, boosting liquidity for growth strategy

Outlook

* Company plans to scale manufacturing and expand commercial traction in quantum AI and cybersecurity

Result Drivers

* REVENUE GROWTH - Revenue increased 280% yr/yr due to R&D services and custom hardware contracts

* COMMERCIAL TRACTION - First U.S. commercial sale of quantum cybersecurity solutions to a top 5 U.S. bank

* STRATEGIC PARTNERSHIPS - Continued collaboration with NASA on quantum optimization for space-based LiDAR data

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $2.4 mln

Income

Q3 $10.5

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy"

* Wall Street's median 12-month price target for Quantum Computing Inc ( QUBT ) is $24.00, about 58.2% above its November 13 closing price of $10.03

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)