Shares of Quantum Computing Inc. (QUBT) soared 10.61% in after-hours trading on Thursday following the release of its impressive first-quarter 2025 financial results. The company, which specializes in innovative integrated photonics and quantum optics technology, reported earnings that significantly surpassed analyst expectations.

Quantum Computing Inc. announced quarterly earnings of $0.11 per share, beating the analyst consensus estimate of $(0.07) by 257.14%. This marks a substantial improvement from the $0.08 loss per share reported in the same period last year. The company's net income for Q1 2025 reached $17 million, or $0.13 per basic share, compared to a net loss of $6.4 million or $(0.08) per basic share in the previous year.

While the company's quarterly sales of $39,000 fell short of the analyst estimate of $100,000, it still represented a 44.44% increase from the $27,000 reported in the same quarter last year. The strong bottom-line performance was primarily attributed to a $23.6 million non-cash gain on the mark-to-market valuation of the company's warrant liability. Additionally, Quantum Computing Inc. reported a strengthened balance sheet, with cash and cash equivalents increasing by $87.5 million to $166.4 million from year-end 2024, bolstered by net proceeds of $93.6 million raised through a private placement offering of common stock.