QUBT Stock Climbs Premarket After Strong Quarter Shows Quantum Tech Scaling Beyond The Lab

• QUBT stock rose 14% in Tuesday’s premarket trading.
• QUBT beat Q1 revenue estimates. Rival RGTI, reporting alongside, also posted arevenue beat, but surging costs and losses weighed on its shares.
• Stocktwits sentiment was ‘extremely bullish’ for QUBT and ‘bearish’ for RGTI early Monday.
   

Quantum Computing, Inc.’s shares surged over 14% in early premarket trading on Tuesday, after the company reported quarterly revenue above expectations and expectations of gains linked to its photonics portfolio.

The company’s fiscal first-quarter revenue increased to $3.7 million from $39,000 in the corresponding quarter last year, and beat analysts’ expectations of $3.13 million from FactSet. However, it reported a net loss of $4.1 million, compared to a profit of nearly $17 million in the comparative period. 

The company attributed the change to a smaller accounting gain from a prior merger, along with higher operating expenses. Notably, it said it completed the acquisition of Luminar Semiconductor, adding in-house manufacturing capabilities while strengthening its portfolio in quantum communications and photonics.

QUBT’s Photonics Momentum

Quantum Computing is a photonics-based quantum technology company that develops quantum computing, sensing, imaging, and cybersecurity hardware using light-based quantum systems 

The company has been positioning itself as a more practical and scalable alternative in the quantum market by focusing on low-power, deployable quantum photonic hardware that can operate in real-world commercial and defense environments without the need for expensive cooling infrastructure. 

Quantum Computing also has a partnership with POET Technologies, a widely watched AI stock. Last November, the two announced a deal to co-develop 3.2 Terabits per second (Tbps) optical engines.

Rival Rigetti’s Report Sees Muted Reaction

Rival Rigetti Computing also reported its quarterly earnings after the markets closed on Monday. Curiously, the stock rallied 8.3% in Monday’s regular session and dropped 1.5% in Tuesday’s premarket trading.

Revenue at the company tripled to $4.4 million, beating analysts’ expectations of $4.09 million, while the adjusted loss of $0.04 per share came in line with expectations. Costs tripled to $3.02 million.

Rigetti Computing develops quantum computers and cloud-based quantum computing services, offering quantum processors, quantum-as-a-service platforms, and software tools for research, AI, optimization, and enterprise applications.

Retail View On QUBT, RGTI

On Stocktwits, the retail sentiment for QUBT turned ‘extremely bullish’ on Tuesday, up from ‘bullish’ the previous day. The sentiment for RGTI dropped to ‘bearish’ from ‘bullish.’

“QUBT's bullish thesis isn't only about building a quantum computer,” a trader said. “It's about using their proprietary TFLN material to build ultra-fast optical chips that can instantly encrypt data (eShield-Q) & process edge-AI (NeuraWave) for defense & telecom contractors

On Rigetti, a trader said, the company “faces continued operating losses and an accumulated deficit. The company also confronts risks in its technology roadmap and dependence on external capital, which could lead to dilution.”

Year to date, QUBT stock was down 1% as of its last close, while RGTI stock was down 7.4%. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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