The company has failed to generate any top-line revenue over the past ten quarters, while maintaining a consistent quarterly operating loss that reached $1.9 million in 2026Q1.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | - | - | - | - | - | - |
| Operating Expenses | 9.23M | 9.85M | 10.17M | 17.12M | 15.28M | 28.81M | 9.49M |
| OpEx % of Revenue | - | - | - | - | - | - | - |
| Selling, General & Admin | 6.11M | 5.91M | 5.22M | 8.49M | 6.22M | 21.46M | 5.81M |
| SG&A % of Revenue | - | - | - | - | - | - | - |
| Research & Development | 2.44M | 3.47M | 3.44M | 7.87M | 9.07M | 6.75M | 2.47M |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 683.87K | 464.47K | 1.51M | 762.83K | 0 | 608.46K | 1.21M |
| Operating Income | -9.23M | -9.85M | -10.17M | -17.12M | -15.28M | -28.81M | -9.49M |
| Operating Margin % | - | - | - | - | - | - | - |
| Operating Income Growth % | - | 3.16% | 40.61% | -12.04% | 46.95% | -203.64% | - |
| EBITDA | -7.91M | -9.85M | -8.66M | -16.36M | -15.28M | -29.28M | -9.47M |
| EBITDA Margin % | - | - | - | - | - | - | - |
| EBITDA Growth % | 5.28% | -13.71% | 47.07% | -7.05% | 47.81% | -209.21% | - |
| D&A (Non-Cash Add-back) | 1.32M | 0 | 0 | 0 | 0 | 0 | 18.33K |
| EBIT | -8.77M | -9.85M | -8.66M | -16.36M | -15.28M | -29.28M | -8.3M |
| Net Interest Income | 234.22K | 225.39K | 351.81K | 455.57K | 83.99K | -599.55K | 119.05K |
| Interest Income | 234.22K | 225.39K | 351.81K | 455.57K | 83.99K | 8.91K | 119.05K |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 608.46K | 0 |
| Other Income/Expense | -2.51M | -1.78M | -13.19M | 13.12M | 85.43K | -1.08M | 141 |
| Pretax Income | -11.75M | -11.63M | -23.36M | -4M | -15.2M | -29.89M | -9.49M |
| Pretax Margin % | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -11.75M | -11.63M | -23.36M | -4M | -15.2M | -29.89M | -9.49M |
| Net Margin % | - | - | - | - | - | - | - |
| Net Income Growth % | 20.01% | 50.22% | -483.99% | 73.68% | 49.15% | -215.03% | - |
| Net Income (Continuing) | -11.75M | -11.63M | -23.36M | -4M | -15.2M | -29.89M | -9.49M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.46 | -8.66 | -1114.54 | -532.80 | -1174.26 | -2560.65 | -14956.00 |
| EPS Growth % | 96.95% | 99.22% | -109.18% | 54.63% | 54.14% | 82.88% | - |
| EPS (Basic) | - | -8.66 | -1114.54 | -532.80 | -1174.26 | -2560.65 | -14956.00 |
| Diluted Shares Outstanding | 8.06M | 1.73M | 24.37K | 15.42K | 12.94K | 11.67K | 1.18K |
| Basic Shares Outstanding | 8.06M | 1.73M | 24.37K | 15.42K | 12.94K | 11.67K | 1.18K |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Imminent liquidity and solvency risk
As indicated by the company's historical financial statements, QCLS has failed to generate any top-line revenue over the past ten quarters, confirming its status as a pre-operational entity that remains entirely dependent on external capital to fund its ongoing research and development and administrative overhead requirements.
The complete lack of revenue suggests that the company has yet to successfully commercialize its photonic computing technology or establish a viable mining operation. Investors should monitor for any shift from R&D-focused spending to actual product sales, as the current trajectory provides no evidence of market adoption or product-market fit.
Based on reported figures, QCLS maintains a consistent quarterly burn rate, with combined R&D and SG&A expenses frequently exceeding $1.5 million, which appears unsustainable given the company's minimal cash reserves of less than $1 million as of the most recent reporting period for the firm.
The cost structure is dominated by high fixed operating expenses, which are typical for early-stage hardware developers but dangerous without a clear path to revenue. This expense discipline, or lack thereof, suggests that management is prioritizing technical development over fiscal preservation, which may necessitate further dilutive financing rounds.
According to the provided income statement data, the company's EPS figures exhibit extreme volatility, often influenced by significant stock-based compensation charges, which suggests that shareholders may face substantial dilution as the firm attempts to preserve its limited cash position through equity-based incentives for its engineering talent.
The reliance on stock-based compensation to manage liquidity implies that the true cost of operations is higher than the cash-based burn rate suggests. Investors should be wary of the potential for ongoing share count expansion, which may continue to depress per-share value even if the company eventually achieves operational milestones.
While the market may assign value to the company's exclusive licensing rights, the financial data reveals a precarious situation where the firm has consistently reported net losses, with no clear evidence that its photonic hardware can achieve the energy efficiency required to compete in the mining sector.
The primary risk is that the company's technology remains a theoretical concept rather than a deployable industrial solution. If the integration of the LPU into data center environments proves technically unfeasible, the company's intangible assets may face significant impairment, leaving little residual value for equity holders.
Quick answers to the most common questions about buying QCLS stock.
For fiscal year 2025, Q/C Technologies, Inc. (QCLS) reported total revenue of $0.0M.
Q/C Technologies, Inc. (QCLS) reported a net loss of $11.6M for the fiscal year ending 2025.