Quantinuum (QNT) Q2 2026 earnings summary

Executive summary

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

• Achieved 279% year-over-year revenue growth in Q2 2026, reaching $8 million, driven by strong cloud business and diversified customer base.

• Strategy centers on technology, ecosystem, and commercial leadership, focusing on performant quantum hardware and a widely adopted hybrid developer platform.

• Demonstrated near five-nines logical fidelity on Helios, reinforcing leadership in quantum error correction and fault tolerance.

• Announced strategic partnerships with Oracle, HPE, and others to expand hybrid quantum-classical solutions and cloud deployment.

Financial highlights

• Q2 2026 revenue was $8 million, up from $2 million in Q2 2025, with adjusted EBITDA loss of $68 million and GAAP net loss of $596.5 million.

• Bookings for Q2 were $4.3 million; year-to-date bookings reached $81 million, with expectations to achieve at least $120 million for full year 2026.

• Ended the quarter with $2.1 billion in cash and equivalents, bolstered by IPO proceeds.

• Non-GAAP gross margin was 62%, while GAAP gross margin improved to (64.4%), up 27 percentage points year-over-year.

• Adjusted net loss per share was $0.28; GAAP net loss per share was $1.93.

Outlook and guidance

• Issued first formal guidance as a public company: 2026 revenue expected in the range of $28–$32 million, an increase from prior expectations.

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

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