Few tech companies have done as well as Quantum Computing (QUBT 3.38%) lately. Over the last year, it's up 1,390% (as of Oct. 31). That's more than Palantir Technologies, more than Nvidia, and much more than the S&P 500 index.
If you'd invested $1,500 in Quantum Computing a year ago, your investment would now be worth $22,380. While this quantum computing company has delivered spectacular returns, the actual results haven't caught up to the appreciation in its share price.
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Revenue has been hard to come by for Quantum Computing
After Quantum Computing's growth, it's now a $3 billion company. But in its most recent earnings report (Q2 2025), it reported just $61,000 in revenue, a 67% year-over-year drop. It's currently trading at over 7,800 times trailing sales.
In fairness, pure-play quantum computing companies tend to have low revenues and high valuations. They've been a popular investment, but they're still early-stage businesses. However, even compared to these other companies, Quantum Computing is an outlier. IonQ, Rigetti Computing, and D-Wave Quantum have all earned significantly more -- ranging from $1.8 million last quarter for Rigetti to $20.7 million for IonQ.
NASDAQ: QUBT
Key Data Points
Paying a premium for a stock is sometimes justifiable, but it's hard to argue that's the case with Quantum Computing since it hasn't been able to grow its income. This is an extremely risky investment. As the results show, those can occasionally pay off, but you should be careful how much you put into companies like this.
