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In photonic integrated circuit manufacturing, gross margin is almost entirely a function of fab throughput.
A foundry running at low utilization spreads its fixed overhead across fewer wafers, compressing margins regardless of the quality of the photonics on the chip.
That structural cost problem is the constraint sitting directly underneath Quantum Computing Inc. (NASDAQ: QUBT) as the company prepares to report Q2 2026 results on Aug.
What the Q1 numbers actually show QCI's first-quarter 2026 revenue came in at $3.7 million, up from $39,000 in the year-ago period.
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