Quantum Computing, Inc. (QUBT) Balance Sheet
QUBT balance sheet, 2025
December 31, 2025 · U.S. dollars$1.62B assets = $20.7M liabilities + $1.60B equity
Both columns are drawn to the same scale: what QUBT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
QUBT financial health
Descriptive bands, not a rating. Fiscal 2025.
QUBT balance sheet trends, 2011–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $408,3672011 | $1.62B2025 | +151.1%/yr | |
| Total liabilities | $1.3M2011 | $20.7M2025 | +36.5%/yr | |
| Shareholders’ equity | −$846,5382011 | $1.60B2025 | — | |
| Cash & short-term investments | $6,3882011 | $1.12B2025 | +282.4%/yr | |
| Total debt | $271,9732011 | $1.8M2025 | +23.4%/yr | |
| Net cash (debt) | −$265,5852011 | $1.12B2025 | +$1.1B | |
| Working capital | −$851,9592011 | $1.12B2025 | +$1.1B | |
| Book value per share | $1.162022 | $9.722025 | +102.9%/yr | |
| Debt / equity | 0.012020 | 0.002025 | −0.01 | |
| Shares outstanding | 56.0M2022 | 164.5M2025 | +43.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
QUBT assets
QUBT liabilities and equity
QUBT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
QUBT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.12B | $78.9M | $2.1M | $5.3M | $16.7M | $15.2M | $101,100 | $1.8M | $95,090 | $6,388 |
| Cash & equivalents | $737.9M | $78.9M | $2.1M | $5.3M | $16.7M | $15.2M | $101,100 | $1.8M | $95,090 | $6,388 |
| Short-term investments | $379.4M | $0 | — | — | — | — | — | — | — | — |
| Receivables | $4.2M | $27,000 | $344,000 | $13,000 | $0 | $0 | $0 | $0 | $159,512 | $281,446 |
| Inventory | $352,000 | $18,000 | $73,000 | $284,573 | $0 | $0 | $0 | $0 | $114,400 | $103,176 |
| Other current assets | $11.9M | $161,000 | $180,000 | $0 | $482,998 | $40,773 | $21,549 | $23,179 | $11,938 | $11,938 |
| Total current assets | $1.13B | $79.2M | $2.7M | $5.5M | $17.2M | $15.2M | $122,649 | $1.8M | $380,940 | $402,948 |
| Property, plant & equipment (net) | $15.3M | $9.7M | $3.9M | $2.2M | $59,432 | $30,956 | $25,596 | $6,897 | $13,362 | $4,419 |
| Goodwill & intangible assets | $62.1M | $64.5M | $67.6M | $70.8M | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $403.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.7M | $129,000 | $129,000 | $59,000 | $3,109 | $0 | $0 | $100,000 | $1,000 | $1,000 |
| Total assets | $1.62B | $153.6M | $74.4M | $78.5M | $17.3M | $15.3M | $148,245 | $1.9M | $395,302 | $408,367 |
| Liabilities | ||||||||||
| Accounts payable | $778,000 | $1.4M | $1.5M | $872,000 | $464,870 | $366,706 | $218,261 | $54,018 | $384,421 | $326,969 |
| Short-term debt | — | $2.0M | $1.9M | $1.9M | $18,084 | $218,371 | $1.6M | $3.2M | $14,226 | $271,973 |
| Deferred revenue | $395,000 | $79,000 | $458,000 | — | $595,959 | — | $152,547 | $1 | — | — |
| Total current liabilities | $11.1M | $4.6M | $4.8M | $4.6M | $1.1M | $693,207 | $3.0M | $3.3M | $987,508 | $1.3M |
| Long-term debt | $0 | $0 | $0 | $7.6M | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $1.8M | $1.2M | $840,085 | $1.4M | $18,084 | $0 | $0 | — | — | — |
| Other long-term liabilities | $9.6M | $41.7M | $840,000 | $1.2M | $599.3M | $326.5M | $2.7M | $3.3M | $0 | $0 |
| Total liabilities | $20.7M | $46.3M | $5.7M | $13.4M | $1.1M | $693,207 | $3.0M | $3.3M | $987,508 | $1.3M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $22,000 | $13,000 | $8,000 | $6,000 | $2,916 | $2,797 | $736 | $472 | $70,100 | $70,100 |
| Retained earnings (deficit) | −$219.2M | −$200.5M | −$131.9M | −$104.1M | −$81.4M | −$53.5M | −$28.8M | −$20.4M | −$10.3M | −$10.5M |
| Accumulated other comprehensive income | $905,000 | — | $55.0M | $43.7M | $30.2M | $20.3M | $9.0M | $8.0M | — | — |
| Total shareholders' equity | $1.60B | $107.3M | $68.7M | $65.1M | $16.2M | $14.6M | −$2.8M | −$1.4M | −$592,205 | −$846,538 |
| Key figures | ||||||||||
| Total debt | $1.8M | $1.2M | $2.8M | $10.2M | $18,084 | $218,371 | $1.6M | $3.2M | $14,226 | $271,973 |
| Net cash (debt) | $1.12B | $77.8M | −$706,000 | −$4.9M | $16.7M | $15.0M | −$1.5M | −$1.4M | $80,864 | −$265,585 |
| Working capital | $1.12B | $74.6M | −$2.2M | $857,000 | $16.1M | $14.5M | −$2.8M | −$1.5M | −$606,568 | −$851,959 |
| Tangible book value | $1.54B | $42.7M | $1.1M | −$5.6M | $16.2M | $14.6M | −$2.8M | −$1.4M | −$592,205 | −$846,538 |
| Book value per share | $9.72 | $1.14 | $1.03 | $1.16 | — | — | — | — | — | — |
| Shares outstanding | 164.5M | 93.9M | 66.6M | 56.0M | — | — | — | — | — | — |
| Current ratio | 102.38 | 17.36 | 0.55 | 1.19 | 15.91 | 21.98 | 0.04 | 0.54 | 0.39 | 0.32 |
| Quick ratio | 101.27 | 17.32 | 0.50 | 1.16 | 15.47 | 21.92 | 0.03 | 0.53 | 0.26 | 0.23 |
| Debt / equity | 0.00 | 0.01 | 0.04 | 0.16 | 0.00 | 0.01 | — | — | — | — |
| Equity / assets | 98.7% | 69.9% | 92.4% | 82.9% | 93.7% | 95.5% | −1,897.1% | −74.7% | −149.8% | −207.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $954.2M | $986.1M | $1.12B | $555.6M | $348.8M | $166.4M | $78.9M | $3.1M | $2.5M | $2.1M | $2.1M | $7.4M |
| Cash & equivalents | $189.2M | $257.7M | $737.9M | $352.4M | $348.8M | $166.4M | $78.9M | $3.1M | $2.5M | $2.1M | $2.1M | $7.4M |
| Short-term investments | $765.0M | $728.4M | $379.4M | $203.1M | — | — | $0 | — | — | — | — | — |
| Receivables | $14.4M | $9.6M | $4.2M | $491,000 | $96,000 | $20,000 | $27,000 | $369,000 | $56,000 | $344,000 | $65,000 | $545,613 |
| Inventory | $12.8M | $4.1M | $352,000 | $956,000 | $366,000 | $131,000 | $18,000 | $241,000 | $266,000 | $73,000 | $73,000 | $167,201 |
| Other current assets | $6.9M | $5.2M | $11.9M | $5.8M | $1.0M | $660,000 | $161,000 | $238,000 | $567,000 | $180,000 | $459,000 | $17,339 |
| Total current assets | $988.3M | $1.01B | $1.13B | $562.8M | $350.2M | $167.2M | $79.2M | $3.9M | $3.4M | $2.7M | $2.7M | $8.1M |
| Property, plant & equipment (net) | $66.0M | $22.1M | $15.3M | $15.2M | $12.6M | $11.4M | $9.7M | $7.4M | $6.3M | $3.9M | $3.9M | $4.1M |
| Goodwill & intangible assets | $210.6M | $165.7M | $62.1M | $62.6M | $63.1M | $63.8M | $64.5M | $65.3M | $66.1M | $67.6M | $67.6M | $77.0M |
| Long-term investments | $369.3M | $422.8M | $403.1M | $257.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $5.0M | $4.8M | $4.7M | $131,000 | $131,000 | $129,000 | $129,000 | $129,000 | $133,000 | $129,000 | $129,000 | $129,045 |
| Total assets | $1.64B | $1.62B | $1.62B | $898.2M | $426.1M | $242.5M | $153.6M | $76.8M | $76.0M | $74.4M | $74.4M | $89.3M |
| Liabilities | ||||||||||||
| Accounts payable | $4.1M | $2.7M | $778,000 | $1.2M | $1.4M | $2.0M | $1.4M | $923,000 | $1.7M | $1.5M | $1.5M | $1.1M |
| Short-term debt | $2.3M | — | — | $641,000 | $635,000 | — | — | $327,000 | — | $1.9M | — | $5.7M |
| Deferred revenue | $3.8M | $1.9M | $395,000 | $323,000 | $181,000 | $83,000 | $79,000 | $48,000 | — | $458,000 | — | $12,000 |
| Total current liabilities | $18.6M | $15.1M | $11.1M | $3.6M | $4.0M | $3.7M | $4.6M | $2.4M | $2.9M | $4.8M | $4.8M | $8.1M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.5M | $0 | $0 | $0 | $0 |
| Lease obligations | $21.1M | $3.7M | $1.8M | $1.9M | $1.5M | $1.1M | $1.2M | $1.3M | $708,000 | $775,000 | $840,000 | $1.2M |
| Other long-term liabilities | $28.6M | $8.3M | $9.6M | $16.7M | $26.1M | $18.0M | $41.7M | $2.0M | $708,000 | $840,000 | $840,000 | $0 |
| Total liabilities | $47.2M | $23.4M | $20.7M | $20.3M | $30.1M | $21.7M | $46.3M | $10.9M | $3.6M | $5.7M | $5.7M | $8.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $23,000 | $23,000 | $22,000 | $19,000 | $16,000 | $14,000 | $13,000 | $9,000 | — | $8,000 | — | $7,510 |
| Retained earnings (deficit) | −$235.0M | −$223.2M | −$219.2M | −$217.6M | −$220.0M | −$183.5M | −$200.5M | −$149.2M | −$143.6M | −$131.9M | −$131.9M | −$141.4M |
| Accumulated other comprehensive income | −$3.9M | −$2.9M | $905,000 | −$26,000 | $0 | — | — | $0 | — | $55.0M | — | $52.2M |
| Total shareholders' equity | $1.59B | $1.60B | $1.60B | $877.9M | $396.0M | $220.8M | $107.3M | $65.9M | $72.4M | $68.7M | $68.7M | $81.2M |
| Key figures | ||||||||||||
| Total debt | $23.4M | $3.7M | $1.8M | $2.6M | $2.2M | $1.1M | $1.2M | $7.8M | — | $2.8M | — | $5.7M |
| Net cash (debt) | $930.8M | $982.4M | $1.12B | $553.0M | $346.6M | $165.4M | $77.8M | −$4.7M | — | −$706,000 | — | $1.7M |
| Working capital | $969.7M | $990.0M | $1.12B | $559.2M | $346.3M | $163.5M | $74.6M | $1.5M | $522,000 | −$2.2M | −$2.2M | $20,589 |
| Tangible book value | $1.38B | $1.43B | $1.54B | $815.3M | $332.9M | $157.1M | $42.7M | $581,000 | $6.3M | $1.1M | $1.1M | $4.2M |
| Book value per share | $7.08 | $7.13 | $7.40 | $5.26 | $2.80 | $1.44 | $1.14 | $0.71 | $0.77 | $1.03 | $0.89 | $1.13 |
| Shares outstanding | 224.7M | 224.0M | 216.1M | 166.8M | 141.4M | 153.0M | 93.9M | 93.0M | 94.4M | 66.6M | 77.5M | 71.6M |
| Current ratio | 53.13 | 66.67 | 102.38 | 154.87 | 88.17 | 44.69 | 17.36 | 1.61 | 1.18 | 0.55 | 0.55 | 1.00 |
| Quick ratio | 52.07 | 66.05 | 101.27 | 153.02 | 87.83 | 44.48 | 17.32 | 1.41 | 0.89 | 0.50 | 0.44 | 0.98 |
| Debt / equity | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 | 0.12 | — | 0.04 | — | 0.07 |
| Equity / assets | 97.1% | 98.6% | 98.7% | 97.7% | 92.9% | 91.1% | 69.9% | 85.8% | 95.3% | 92.4% | 92.4% | 90.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 2, 2026); data from EODHD.
QUBT financial position
At the end of fiscal 2025 (December 31, 2025), Quantum Computing had total assets of $1.6 billion (up 954.3% from a year earlier), total liabilities of $20.7 million and shareholders' equity of $1.6 billion. It held $1.1 billion in cash and short-term investments against $1.8 million of debt, a net cash position of $1.1 billion. Its current ratio was 102.38. In the latest quarter (ended June 30, 2026) total assets were $1.6 billion and equity $1.6 billion.
Related: QUBT income statement, QUBT cash flow statement, QUBT key metrics. See the QUBT stock overview for the latest quote and news.
QUBT balance sheet FAQ
What are Quantum Computing's total assets?
Quantum Computing reported total assets of $1.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $153.6 million a year earlier.
How much debt does Quantum Computing have?
Quantum Computing had $1.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does Quantum Computing have?
Quantum Computing held $1.1 billion in cash and short-term investments at the end of fiscal 2025; with $1.8 million of debt that is net cash of $1.1 billion.
What is Quantum Computing's book value?
Quantum Computing's shareholders' equity (book value) was $1.6 billion at the end of fiscal 2025, or $9.72 per share.
What is Quantum Computing's current ratio?
Quantum Computing had current assets of $1.1 billion and current liabilities of $11.1 million, a current ratio of 102.38 (it can cover its short-term obligations).
How much goodwill does Quantum Computing have?
Quantum Computing carried $62.1 million of goodwill and intangible assets, 3.8% of total assets, at the end of fiscal 2025.