You might also like
Quantum Computing Inc. (QUBT) specializes in integrated photonics and quantum optics technology, offering accessible and affordable quantum machines designed to operate at room temperature and low power. The company focuses on providing solutions for high-performance computing, artificial intelligence, cybersecurity, and remote sensing applications. Its offerings include services and products that leverage advanced quantum-based technologies to address real-world challenges.
- Services - Provides quantum-based solutions and consulting to introduce customers to quantum technologies and build awareness of their applications.
- Products - Develops and sells quantum hardware, including platforms for high-performance computing and remote sensing, emphasizing affordability, small size, and low energy consumption.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Dr. Yuping Huang ExecutiveBoard | Interim Chief Executive Officer and President | Professor of Physics at Stevens Institute of Technology; Founding Director of the Center for Quantum Science and Engineering at Stevens Institute of Technology | Dr. Yuping Huang is the Interim Chief Executive Officer and President at QUBT since May 12, 2025. He also serves as Chairman of the Board and Chief Quantum Officer at QUBT, while maintaining an active academic career as a Professor of Physics at Stevens Institute of Technology. | View Report → |
Christopher Boehmler Executive | Chief Financial Officer (CFO) | Christopher Boehmler is the CFO at Quantum Computing Inc. since July 1, 2023, after previously serving as Controller from March 2022. He has a diverse background in finance with senior roles in consulting, investment banking, and management. | ||
Dr. Milan Begliarbekov Executive | Chief Operating Officer (COO) | Dr. Milan Begliarbekov is the Chief Operating Officer (COO) of Quantum Computing Inc. (QUBT) since May 2, 2025. Previously, he served as Director of Quantum Foundry starting in September 2022, where he led the design and construction of QUBT's quantum photonic chip foundry. | ||
Dr. Pouya Dianat Executive | Chief Revenue Officer | Dr. Pouya Dianat is currently the Chief Revenue Officer at QUBT since May 2, 2025. Previously, he served as the Director of Photonic Integrated Circuits (PICs) and Foundry Services at QCi. | ||
Dr. Carl Weimer Board | Director | Chief Technologist for Ball Aerospace Civil Business Unit ; Principal Investigator at NASA Earth Science Technology Office | Dr. Carl Weimer has served as Director at QUBT since January 14, 2023. He brings over 25 years of aerospace experience from his roles as Chief Technologist at Ball Aerospace and as Principal Investigator at NASA Earth Science Technology Office. | |
Dr. Javad Shabani Board | Director | Dr. Javad Shabani has served as Director at QUBT since April 19, 2024 and is a member of both the Compensation Committee and the Nominating and Corporate Governance Committee of the Board, showcasing his strategic expertise in quantum computing. | ||
Eric Schwartz Board | Board Director | Managing Director at Castle Harlan | Eric Schwartz is a Board Director at QUBT since March 26, 2025, and brings over 20 years of experience in corporate finance, mergers and acquisitions, and corporate strategy. | |
Michael Turmelle Board | Director | Board of Directors at Ideal Power Inc; Chairman of the Board at Ideal Power Inc | Michael Turmelle has served as Director of Quantum Computing Inc. (QUBT) since January 2022 and is the Chairman of the Audit Committee, leveraging his extensive experience in finance, business operations, and technology. | |
Robert Fagenson Board | Vice Chairman of the Board of Directors | Director, New York City Police Museum; Director, Federal Law Enforcement Officers Association Foundation; Board Member, Sigma Alpha Mu Foundation; Board Member, New York Edge; Alumni Boards, Whitman School of Business at Syracuse University | Robert Fagenson has served at QUBT as a Director since March 2021 and was appointed Vice Chairman on December 10, 2024. He brings extensive experience in financial services and corporate governance from his previous roles at NHC and the NYSE. |
-
Given that Q1 2025 revenues increased to $39,000 while gross margins dropped from 41% to 33%, what specific strategies is management implementing to stabilize and improve margins in the coming quarters?
-
With the recent completion of the Tempe foundry and modest initial revenue, how does management plan to manage potential capacity constraints, especially if customer demand accelerates faster than anticipated?
-
Considering the significant impact of a $23.6 million noncash gain on Q1 net income, what measures are in place to ensure that core operating profitability is sustainable without relying on similar one-time accounting adjustments?
-
In light of the increased operating expenses driven by employee-related costs and recent leadership changes, how will management balance aggressive cost-cutting with the need to invest in future growth and technology development?
-
As QCI expands both its Quantum machine initiatives and its photonic chip foundry services, what detailed milestones or performance metrics will management target to validate the scalability and long-term viability of these core business segments?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
millionways, Inc. | 2023 | In 2023, QCI planned to acquire up to 100% of millionways, Inc., an AI firm, marked by a Letter of Intent on May 16, 2023 to provide bridge loans and conduct due diligence, and a Note Purchase Agreement on June 6, 2023 involving up to $2,000,000 in unsecured promissory notes with defined interest terms. |
QPhoton, Inc. | 2022 | In 2022, QCI completed the acquisition of QPhoton, Inc. through multiple merger transactions that involved issuing common stock, Series B convertible preferred stock (convertible into common stock at a 10-to-1 ratio), and warrants, thereby integrating QPhoton’s quantum photonic system with QCI’s Qatalyst software to establish full-stack quantum computing solutions, with key leadership changes and stockholder approval steps. |
Recent press releases and 8-K filings for QUBT.
- Quantum Computing Inc. (QCi) has closed a private placement of 14,035,089 shares of common stock with institutional investors.
- The offering generated $200 million in proceeds before expenses, with shares sold at $14.25 per share.
- Following the closing, QCi's total cash position now exceeds $350 million, and the company has no debt.
- The net proceeds will be used to accelerate commercialization efforts, fund strategic acquisitions, and for working capital and general corporate purposes.
- Quantum Computing Inc. entered into securities purchase agreements for the sale of 14,035,089 shares of common stock at $14.25 per share, raising $200 million in gross proceeds before expenses.
- Following the closing, the company’s total cash position is expected to exceed $350 million.
- The transaction is expected to close on or about June 24, 2025, subject to customary conditions.
- Net proceeds will be used to accelerate commercialization efforts, strategic acquisitions, working capital, and general corporate purposes.
- Christopher Boehmler retired as CFO effective June 19, 2025, under a separation agreement providing 12 months of base salary ($300,000), 25,000 shares, and 12 months of health coverage; his outstanding options vest immediately with a 90-day exercise window.
- Christopher Roberts was appointed CFO and General Counsel effective June 20, 2025; he previously served as the company’s CFO (2018–2023) and as a consultant (2023–2025), bringing over 39 years of corporate finance and legal experience.
- Under his new employment agreement, Roberts will receive a $370,000 base salary, a discretionary annual bonus of up to 50% of base salary, an initial grant of 300,000 stock options (one-third vesting immediately, remainder over two years), and annual grants of 125,000 options at 110% of fair market value.
- Leadership Transition: Dr. Yuping Huang named Interim CEO as founder Bill McGann retires, with the Board initiating a search for a permanent successor
- Q1 2025 Financial Highlights: Revenue grew to $39,000 (vs. $27,000 in Q1 2024), gross margin dropped to 33%; net income reached $17 million ($0.13/share, driven by a noncash warrant gain of $26M / $23.6M ); operating expenses were $8.3M, with cash at $166.4 million and total assets $242.5 million
- Foundry Milestone: Completed construction of the Tempe thin-film lithium niobate photonic chip foundry, initiated tool testing and certifications, and secured a fifth purchase order with initial customer deliveries
- Strategic Partnerships: Launched collaborations with the Sandoz/Sanders Tri-Institutional Therapeutics Discovery Institute and NASA’s Langley Research Center, and booked orders for a photonic vibrometer (DEF/Delft University) and a reservoir computing device for a major automotive OEM
- Milan Begliarbekov appointed Chief Operating Officer to oversee day-to-day operations, manufacturing efficiency, and scaling of quantum photonic production.
- Pouya Dianat appointed Chief Revenue Officer to drive global commercial strategy, accelerate customer acquisition, and expand revenue streams across QCi’s machines and foundry services.
- The leadership changes coincide with the completion of QCi’s quantum photonic chip foundry in Tempe, Arizona in March 2025, positioning the company to meet growing demand for thin-film lithium niobate solutions in datacom and telecom markets.
- Dr. William McGann, age 67, will retire as CEO and President effective May 12, 2025 after leading the company since February 2024.
- The Board has appointed Dr. Yuping Huang (Chairman of the Board and Chief Quantum Officer) as Interim CEO and President upon McGann’s departure.
- A Board committee will work with an executive search firm to identify and select a permanent CEO.
- During his tenure, McGann spearheaded the launch of the Dirac-3 quantum optimization machine, advanced core technology commercialization, and oversaw the chip foundry initiative.