Infleqtion

Infleqtion reported Q2 2026 revenue of $12.6 million, up 116% year-over-year and entirely organic, driven by quantum computing and sensing products including execution on NASA's Quantum Gravity Gradiometer program. The company raised its full-year 2026 revenue outlook to approximately $43 million. GAAP operating loss widened to $30.6 million from $10.1 million in Q2 2025, primarily due to higher operating expenses and stock-based compensation; non-GAAP operating loss was $17.0 million versus $7.3 million. Q2 operating cash flow was $13.2 million, though it included a $27.4 million temporary working-capital benefit from payroll taxes not yet remitted (expected in Q3). The balance sheet showed $582 million in cash, equivalents, and securities with no debt. Key developments included a U.S. Department of Commerce Letter of Intent offering up to $100 million in proposed funding, selection for three DOE Genesis Mission projects, a contract to deploy a quantum computer at Illinois in 2027 with architecture designed to scale to 50+ logical qubits, and Eaton's private-cloud access to Sqale for energy applications. The company remains on track for 30 logical qubits in 2026.