Quantinuum Inc. (QNT) financials
NASDAQ · Technology · Computer Hardware · 700 employees · CEO Rajeeb Hazra
- Price
- $33.60 -10.39%
- Market cap
- $8.85B
- Enterprise value
- $6.77B
- Last report
- Q2 '26 filed 2026-08-13
- Next report
- 2026-11-05 EPS est. -$0.37
Valuation & key figures
- Market cap
- $8.85B EV $6.77B
- Revenue
- – Trailing 12 months
- Revenue growth
- -3% FY2026 consensus
- Profit margin
- – Net income / revenue, TTM
- P/E
- -13.9× Forward -21.1× (FY2026)
- P/S
- 668.5× Price / sales, TTM
- EV / EBITDA
- -10.1× TTM
- Free cash flow
- – Trailing 12 months
- Net income
- – Trailing 12 months
- Revenue estimate
- $30.1M FY2026 consensus
- Earnings
- 2026-11-05 Revenue est. $8.07M
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-08-11): revenue beat by 5.0%, EPS missed by 8.0%Revenue $8M vs $7.61M expected (+5.0%); EPS -$0.28 vs -$0.26 (-8.0%).
- Revenue growth accelerating: 279.4% year on yearQ2 '26 revenue $8M, against an average of -72.6% over the four quarters before.
- Diluted share count down 2.2% in a year33.9M diluted shares in Q2 '26, 34.7M a year earlier.
- Net cash $2.08BCash + short-term investments $2.11B, debt incl. leases $29.9M.
Last quarter: Q2 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $8M | $2.11M | +279.4% |
| Gross margin | -28.9% | 42.8% | -71.8 pp |
| Operating income | -$555M | -$51.1M | -986.4% |
| Operating margin | -6,939.6% | -2,423.5% | -4,516.1 pp |
| Net income | -$176M | -$56.9M | -208.4% |
| Diluted EPS | -$1.93 | -$1.64 | -17.7% |
| Operating cash flow | -$66.2M | -$33M | -100.3% |
| Capex | $16.5M | $22.3M | -25.9% |
| Free cash flow | -$82.7M | -$55.3M | -49.4% |
| R&D | $367M | $39.7M | +825.9% |
| Stock-based compensation | $0 | $0 | – |
Reported vs consensus
2026-08-11| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $8M | $7.61M | +5.0% |
| EPS (as estimated) | -$0.28 | -$0.26 | -8.0% |
From the report of 2026-08-11 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyMargins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Free cash flow
- –
- Returned to shareholders / FCF
- –
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | -13.9× | – | – |
| EV / EBITDA | -10.1× | – | – |
| EV / Sales | 511.5× | 540.6× | 438.3× – 642.9× |
| Price / FCF | -52.6× | – | – |
| Price / Book | 2.8× | 1.6× | 1.2× – 2.1× |
| FCF yield | -1.9% | -9.1% | -11.7% – -6.4% |
| Return on invested capital | -22.4% | -22.1% | -29.6% – -14.7% |
| Return on equity | -46.9% | -9.3% | -14.4% – -4.2% |
Analysts
Consensus target $90.33 (+168.8%)
range $62.00 – $100.00 · rating Buy
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $30.1M | -2.8% | -$1.59 | +26.0% | -21.1× | 7 |
| FY2027 | $61.2M | +103.4% | -$1.56 | +1.9% | -21.5× | 7 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 106 figures Quantinuum Inc. Class A Common Stock tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| $13M | – | – | – | – | – | |
| $5.77M | – | – | – | – | – | |
| $7.22M | – | – | – | – | – | |
| Accrued Liabilities, Current | $109M | – | – | – | – | – |
| Accrued Professional Fees, Current | $21M | – | – | – | – | – |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $93.8M | – | – | – | – | – |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.63M | – | – | – | – | – |
| Additional Paid in Capital | $480M | – | – | – | – | – |
| Amortization of Intangible Assets | $4.19M | $2.84M | +47.4% | – | – | – |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 234M | – | – | – | – | – |
| Assets | $3.23B | – | – | – | – | – |
| Assets, Current | $2.15B | – | – | – | – | – |
| Cash and Cash Equivalents, at Carrying Value | $2.11B | – | – | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.11B | $68.9M | +2,959.2% | – | – | – |
| Common Stock, Par or Stated Value Per Share | $0.002026-06-03 | – | – | – | – | – |
| Common Stock, Value, Issued | $174M2025-12-31 | – | – | – | – | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$67.3M | – | – | – | – | – |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -$601M | -$5.6M | -10,630.8% | – | – | – |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $817K | – | – | – | – | – |
| Contract with Customer, Liability | $5.58M | $1.02M | +447.0% | – | – | – |
| Contract with Customer, Receivable, after Allowance for Credit Loss, Current | $2.53M | – | – | – | – | – |
| Contractual Obligation, to be Paid, Remainder of Fiscal Year | $500K | – | – | – | – | – |
| Contractual Obligation, to be Paid, Year One | $1.3M | – | – | – | – | – |
| Contractual Obligation, to be Paid, Year Two | $700K | – | – | – | – | – |
| Costs and Expenses | $563M | $53.2M | +958.4% | – | – | – |
| Depreciation | $5.3M | $4.6M | +15.2% | – | – | – |
| Earnings Per Share, Basic | -$1.93 | – | – | – | – | – |
| Earnings Per Share, Diluted | -$1.93 | – | – | – | – | – |
| Employee-related Liabilities, Current | $14.4M | – | – | – | – | – |
| Fair Value Adjustment of Warrants | $47.6M | $6.4M | +644.0% | – | – | – |
| Finite-Lived Intangible Assets, Accumulated Amortization | $54M | – | – | – | – | – |
| Finite-Lived Intangible Assets, Gross | $159M | – | – | – | – | – |
| Finite-Lived Intangible Assets, Net | $105M | – | – | – | – | – |
| General and Administrative Expense | $152M | $6.07M | +2,402.2% | – | – | – |
| Goodwill | $770M | – | – | – | – | – |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | -$596M | -$56.9M | -947.1% | – | – | – |
| Income Tax Expense (Benefit) | $569K | $0 | – | – | – | – |
| Income Taxes Receivable, Current | $4.68M | – | – | – | – | – |
| Interest Payable, Current | $2.63M | – | – | – | – | – |
| Investment Income, Interest | $4.72M | $999K | +372.4% | – | – | – |
| Lease, Cost | $2.4M | $1.88M | +27.8% | – | – | – |
| Lessee, Operating Lease, Liability, to be Paid | $46.9M | – | – | – | – | – |
| Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year | $2.34M | – | – | – | – | – |
| Lessee, Operating Lease, Liability, to be Paid, Year Four | $3.69M | – | – | – | – | – |
| Lessee, Operating Lease, Liability, to be Paid, Year One | $4.65M | – | – | – | – | – |
| Lessee, Operating Lease, Liability, to be Paid, Year Three | $4.1M | – | – | – | – | – |
| Lessee, Operating Lease, Liability, to be Paid, Year Two | $4.31M | – | – | – | – | – |
| Lessee, Operating Lease, Liability, Undiscounted Excess Amount | $14.2M | – | – | – | – | – |
| Lessor, Operating Lease, Payment to be Received, Remainder of Fiscal Year | $190K | – | – | – | – | – |
| Lessor, Operating Lease, Payment to be Received, Year One | $390K | – | – | – | – | – |
| Lessor, Operating Lease, Payments to be Received | $580K | – | – | – | – | – |
| Liabilities and Equity | $3.23B | – | – | – | – | – |
| Liabilities, Current | $139M | – | – | – | – | – |
| Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest | -$110M | – | – | – | – | – |
| Net Income (Loss) Attributable to Parent | -$65.4M | – | – | – | – | – |
| Net Income (Loss) Attributable to Redeemable Noncontrolling Interest | -$421M | – | – | – | – | – |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | -$597M | -$56.9M | -948.1% | – | – | – |
| Operating Income (Loss) | -$555M | -$51.1M | -986.4% | – | – | – |
| Operating Lease, Cost | $1.13M | $748K | +51.1% | – | – | – |
| Operating Lease, Lease Income | $32K | $0 | – | – | – | – |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30
Data as of 2026-11-02