SeeQC (SEQC) Q2 2026 earnings summary

Executive summary

• Focused on developing scalable, fault-tolerant quantum computing systems, integrating quantum and classical environments, with operations in the US, UK, and Italy.

• Accumulated deficit reached $65.3 million as of June 30, 2026, with a net loss of $9.6 million for the six months ended June 30, 2026.

• Terminated a planned merger with Allegro Merger Corp. in August 2026, agreeing to potential future payments and stock issuance upon certain trigger events.

Financial highlights

• Revenue for Q2 2026 was $0.9 million, up from $0.5 million in Q2 2025; six-month revenue was $1.8 million, up from $1.5 million year-over-year.

• Net loss for Q2 2026 was $4.7 million, compared to $3.6 million in Q2 2025; six-month net loss was $9.6 million, up from $5.6 million year-over-year.

• Cash and cash equivalents were $18.1 million as of June 30, 2026.

• Operating expenses increased, with selling, general, and administrative costs rising to $3.1 million in Q2 2026 from $1.5 million in Q2 2025.

Outlook and guidance

• Management expects continued operating losses and negative cash flows as investments in R&D and commercialization continue.

• Plans to seek additional equity financing, including a potential IPO, to fund operations and capital needs for at least the next twelve months.

• Substantial doubt exists about the ability to continue as a going concern without new funding.