Quantinuum (QNT) Q2 2026 earnings summary

Executive summary

• Completed first quarter as a public company after IPO in June 2026, marking the first pure-play quantum computing company to go public via traditional IPO and raising $1.7 billion in gross proceeds.

• Achieved 279% year-over-year revenue growth in Q2 2026, reaching $8 million, and demonstrated near five-nines logical fidelity on Helios, reinforcing leadership in quantum fault tolerance.

• Strategy centers on technology, ecosystem, and commercial leadership, with disciplined capital investment driving major milestones and partnerships with Oracle and HPE.

• Strengthened supply chain via collaboration with a major electronics manufacturer and the U.S. Department of Commerce.

Financial highlights

• Q2 2026 revenue was $8 million, up 279% year-over-year, driven by significant growth in the cloud business and diversified across geographies.

• Bookings in Q2 were $4.3 million; year-to-date bookings stand at $81 million, with a target of at least $120 million for full year 2026.

• Adjusted EBITDA loss was $68 million, compared to a $43.5 million loss in the prior year.

• Total GAAP net loss was $597 million, including significant one-time IPO-related stock-based compensation expenses.

• Ended the quarter with $2.1 billion in cash and equivalents, with strong IPO demand and upsized offering.

Outlook and guidance

• 2026 revenue guidance set at $28–$32 million, an increase from prior expectations and establishing the first formal outlook as a public company.

• Initial visibility into 2027 suggests revenue growth of more than 100% year-over-year from 2026.

• Long-term goal to achieve billions in revenue and positive free cash flow by 2030, targeting a $10+ billion end-user quantum market.