QUANTUM COMPUTING Business Summary

Quantum Computing Inc. (QUBT) operates an integrated photonics and quantum optics business model, generating revenue through cloud-based access to its Dirac-3 entropy quantum optimization systems, custom hardware contracts, and research services. A critical growth driver is its proprietary Thin-Film Lithium Niobate (TFLN) photonic chip foundry, which provides high-performance optical components to commercial and government sectors. Following the February 2026 completion of its $110 million acquisition of Luminar Semiconductor, the company has expanded into the LiDAR and advanced sensing markets, vertically integrating its photonics signal chain from light generation to detection. QUBT competes directly with IonQ, Rigetti Computing, and D-Wave Quantum, distinguishing itself by offering room-temperature, low-power quantum solutions that bypass the cryogenic cooling requirements of superconducting and trapped-ion peers. The company is led by CEO and Chairman Dr. Yuping Huang, a quantum physics expert with over 20 years of R&D experience and a PhD in quantum AMO physics; he previously founded QPhoton, which QUBT acquired in 2022. The executive team includes CFO and General Counsel Christopher Roberts and COO Milan Begliarbekov, who oversees the scaling of industrial manufacturing operations. QUBT was originally pivoted into the quantum sector by a founding group including Robert Liscouski, Stephen P. Garchik, and Michael P. Pope. The board features notable academic and industry figures such as Dr. Javad Shabani, Director of the NYU Center for Quantum Information Physics. The company maintains a strong liquidity position following a $500 million private placement in late 2025, supported by institutional investors including Vanguard and BlackRock.