UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2025
QUANTUMAI CORPORATION
| State of Incorporation: | Delaware |
| IRS Employer ID: | 87-4521098 |
| Ticker Symbol: | QAIC (NASDAQ) |
| Fiscal Year End: | December 31 |
ITEM 6. SELECTED FINANCIAL DATA
| Metric | FY 2025 | FY 2024 | Change |
|---|---|---|---|
| Total Revenue | $847.3M | $612.1M | +38.4% |
| Net Income | $142.7M | $89.3M | +59.8% |
| Earnings Per Share | $3.82 | $2.41 | +58.5% |
| R&D Expenditure | $312.5M | $245.8M | +27.1% |
ITEM 1A. RISK FACTORS
AI Regulatory Risk. The Company operates in a rapidly evolving regulatory environment for artificial intelligence. Changes in AI governance frameworks, including the EU AI Act and proposed U.S. federal legislation, could materially impact our operations and require significant compliance expenditures.
Competition. The AI infrastructure market is highly competitive. Our primary competitors include established technology companies with significantly greater financial and engineering resources.
Cybersecurity. Our systems process sensitive customer data and proprietary AI models. A security breach could result in significant financial and reputational harm.