Quantum Computing Inc. Plans Up to $80 Million for NHanced by March 2027

Quantum Computing Inc. expects to ship its first Dirac-3S system to a customer in Q4 2026 and plans to spend $70 million to $80 million on NHanced expansion by March 31, 2027, as the company advances product delivery and manufacturing capacity.

QCi reported a $39.1 million backlog. QCi said it typically takes 12 to 18 months for backlog to convert into revenue, while orders and deliveries can be uneven. Management pointed to backlog growth and broader customer orders as measures of progress.

QCi recorded $9.5 million in third-quarter 2026 revenue, primarily from its expanded photonics business. CEO, President and Chairman Yuping Huang described photonics as the quarter’s main revenue driver. The company also said acquisitions completed during the year brought established products and customer relationships.

Gross margin was 4.5% for the quarter. Management said higher revenue and greater manufacturing utilization could create opportunities to improve the margin. The company ended the quarter with about $1.3 billion in cash, cash equivalents and investments, and management considers its liquidity sufficient to fund operations for at least the next 12 months.

The planned NHanced spending and Dirac-3S shipment are prospective milestones. The shipment is expected in Q4 2026; the stated spending period runs through March 31, 2027.