Quantum Computing’s financials ‘simply don’t align,’ says Citron Research

“Small-cap quantum stocks are in a bubble, but Quantum Computing (QUBT) stands out as the most ridiculous,” Citron Research said via X, the platform formerly known as Twitter. “The numbers tell the story. R&D spending is THE critical indicator in this space: last quarter, $IONQ (IONQ) allocated $33M and $RGTI $12M, modest figures next to tech giants like Google. Yet $QUBT spent a mere $2M on R&D-a striking mismatch for a company claiming to ‘offer integrated high-performance quantum systems.’ Let’s not forget the issued equity at $2.50 just a month ago. The financials simply don’t align-follow the data.”