Acquired business delivers first post-pivot revenue
Quantum Cyber reported $966,833 in revenue for the third quarter of 2026, its first revenue from continuing operations since its defense pivot. The entire amount came from precision metal stamping and fabrication at its Bridgeport, Connecticut facility, acquired from Arcade Technology LLC and Arcade Realty LLC on July 15, 2026.
Four customers each contributed between 10% and 15% of quarterly revenue. None accounted for more than 15%.
Previously known as Mainz Biomed N.V., the German cancer-diagnostics company shifted its focus to autonomous defense and quantum technology. Its Nasdaq symbol switched from MYNZ to QUCY on March 12, 2026; shareholders subsequently approved the Quantum Cyber N.V. name on April 22.
Wider losses and additional financing
The company lost $5,381,441 in the third quarter, compared with $2,919,346 a year earlier. Its loss for the first nine months of 2026 totaled $21,479,903, bringing the accumulated deficit to $126,382,278 as of September 30.
Shareholders' equity nevertheless increased to approximately $16.2 million at September 30 from $0.6 million at December 31, 2025, helped by about $15.2 million raised through warrant exercises during the first nine months of 2026.
Quantum Cyber also arranged two sources of potential funding. It established a $100 million at-the-market offering facility with Titan Partners Securities on October 9, though it had sold no shares through that facility as of November 12, 2026. Separately, CEO and board chair David Lazar committed on November 11 to provide up to $8.0 million through November 30, 2027, to supplement working capital during the Bridgeport facility's build-out.
Management reported ineffective disclosure controls and internal controls over financial reporting. The material weaknesses involved documentation, segregation of duties and financial review procedures, affecting both the legacy operations and the acquired metal stamping business.
Investing.com reported a closing share price of $0.56, with the stock down 61.74% over the past three months and 61.34% over the past 12 months. InvestingPro assigned the company a Financial Health score of "weak performance."
Drone production remains a plan for early 2027
Quantum Cyber has yet to manufacture or sell a drone and has received no drone purchase orders. It installed an 80-unit 3D printing production farm at Bridgeport in August 2026, but its expected early-2027 start for drone manufacturing and sales remains contingent on further production-line build-out, equipment procurement and completion of commercial prototypes.
The company has also broadened the scope of its technology license. On November 6, 2026, subsidiary Quantum Drones Corporation amended its exclusive worldwide agreement with Project LightShift, originally signed in June 2026. Beyond unmanned aerial vehicles, the licensed uses now include unmanned surface and underwater vehicles, maritime platforms, homeland security and law enforcement applications.
