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Equity · Technology

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU) perpetual futures

XNDU perpetual futures on 1 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade XNDUUSDT.

Xanadu Quantum Technologies develops photonic quantum computing hardware, including cloud-accessible x-series quantum computers, and software such as the PennyLane, Catalyst and Lightning tools for quantum programming, compilation and simulation.

$2.69+12.2%NASDAQ closed
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Collecting venue price data...
venue perp mark · Bitget (XNDU/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

1/2 live markets
Venues
2
Live markets
1/2
24h volume
$13.4K
Open interest
$145.2K
Best liquidity
-
Tightest spread
+14.9 bps
Bitget
Highest volume
$13.4K
Bitget
Settlement mix
USDT · 2/2
Perp/spot vol.
0.00x
Spot volume $10.6M
OI / float
+0.34%
Float $42.7M
Spot performance
1D+12.18%
5D-9.49%
1M-40.53%
6M-84.64%
YTD-68.81%
1Y-68.81%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
BitgetTradeXNDU/USDTTrading$2.690.0% APR
0.000% every 8h
+14.9 bps-$13.4K$145.2KUSDT20x
BingXTradeXNDU-USDTPlanned------USDT-

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

No sufficient depth · 0 of 1 venues absorb $10k

No fresh book data: Bitget

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

-
No live data-

Tightest spread

XNDU

Highest volume

XNDU

Funding history

Stored venue snapshots by market

Company financials

Financials at a glance

Last report Q2 '26 · filed 2026-08-05 · next report 2026-12-02 · Updated 7h ago
All financials →

Valuation & key figures

Market cap
$148.6M
Updated 7h ago
Revenue
$5.6M
Trailing 12 months
Revenue growth
+100%
Next fiscal year
Profit margin
-1,577.3%
P/E
-0.9
Peer P/E -0.9
P/S
26.7
Peer P/E
-0.9
Similar listed perps
Free cash flow
-$53.5M
Trailing 12 months
Net income
-$87.7M
Trailing 12 months
Revenue estimate
$6.6M
Next fiscal year
Earnings
2026-12-02
Revenue est. $2.8M · Updated 7h ago
Dividend
-
Revenue (TTM)CA$7.84M+314.4% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)-1,363.6%+549.3 pp vs a year agoOperating income -CA$107M
Net income (TTM)-CA$124M-283.3% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-CA$75.5M-53.7% vs a year agoCapex CA$11.6M
Diluted EPS (TTM)-CA$4.13-20,244.8% vs a year agoSum of the last 4 quarters
Net cashCA$360M+24,147.8% vs a year agoCash + short-term investments - debt
  • Operating margin -1,363.6% (TTM), +549.3 pp on a year agoOperating income grew -195.4% while revenue grew 314.4%.
  • Capex 148.6% of revenue (a year ago 286.0%)CA$11.6M invested in the last 4 quarters (+115.3% on a year earlier). Free cash flow -CA$75.5M.
  • Diluted share count up 0.0% in a year30M diluted shares in Q2 '26, 30M a year earlier.
  • Net cash CA$360MCash + short-term investments CA$444M, debt incl. leases CA$84.1M; a year ago net cash CA$1.49M.

Revenue, operating income and growth

quarterly
In the full financialsIncome statement, balance sheet and cash flow (12 quarters / 10 years) · margins and cost structure · capital allocation and buybacks · valuation against the 5-year range · analyst estimates

Next catalyst

Catalysts

Earnings
2026-12-02
Revenue est. $2.8M · Updated 7h ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 2026-0.31$6.6M+100%2
FY 2027-0.27$8.1M+146%2
FY 2028-0.32$11.7M+259%1
FY 2029-0.47$36.5M+1,013%1
FY 2030-0.35$105.6M+3,124%1
Q1 2027-0.07$2.5M+24%1

Company events

5
2026-12-02EarningsActual - / Estimate -0.08-
2026-08-13EarningsActual -0.14 / Estimate -0.37Beat
2026-08-05EarningsActual -0.14 / Estimate -0.37Beat
2026-05-14EarningsActual -0.28 / Estimate -0.08Miss
2026-02-06EarningsActual -0.39 / Estimate --

Peer comparison

Similar listed perps

Company data

Company intelligence

Updated: Nov 2, 2026, 08:58 PM UTC

Company profile

Sector
Technology
Industry
Software - Infrastructure
Chief executive
Christian Weedbrook
Employees
252
IPO date
Mar 27, 2026
Country
CA
Exchange
NASDAQ Global Market
Website
Altman Z-scorei0.72
Piotroski scorei4/9
Overall ratingiC+
Owner earningsi-CA$36.64M-CA$1.22 per share

Rating factors

Return on equityi
1
Return on assetsi
1
Debt to equityi
3
Price to earningsi
1
Price to booki
5
Market cap history
$81.65M-75.9%Aug 26 – Nov 26
$76.73M$1.73B$3.37BHigh: $3.37B · 2026-08-17Low: $76.73M · 2026-10-26Latest: $81.65M · 2026-11-02Aug 26Sep 26Oct 26Nov 26
Latest: $81.65M · 2026-11-02High: $3.37B · 2026-08-17Low: $76.73M · 2026-10-26
Largest fund holders
FundWeightShares held
WQTM1.5%1.5M
QWTM.L1.38%1.4M
PBW0.89%856.6K
QTUP7.51%435.1K
CQTM1.47%75.2K
QCN.TO0%53.3K

Analyst track record

How the analysts covering XNDU have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings1111
Analysts55
Buy / hold / sell10 / 1 / 010 / 1 / 0
Upgrades / downgrades / initiations0 / 0 / 50 / 0 / 5
Price targets hit / missed0 / 11 (0%)0 / 11 (0%)
Avg. return after a rating (TipRanks)-85.9%-85.9%
Best / worst call-30.1% / -94.2%-30.1% / -94.2%

After buy calls on this stock: not enough measured cases yet

Latest ratings

DateAnalystCallTarget
Oct 15, 2026Joseph MooreMorgan StanleyHoldInitiated$3.75
Sep 28, 2026Paul TreiberRBC CapitalBuyInitiated$16.00
Sep 28, 2026Paul TreiberRBC CapitalBuyInitiated$16.00
Sep 2, 2026Todd CouplandCIBCBuyMaintained$22.00
Sep 1, 2026Nehal ChokshiNorthland SecuritiesBuyReiterated$43.00
Consensus over the last 12 months buy hold sell avg. target month-end close
Monthly buy, hold and sell shares of analyst ratings with the average price target and the month-end close$0.00$10.00$20.00$30.00$40.00Dec 25 · Buy 0 · Hold 0 · Sell 0Dec 25Jan 26 · Buy 0 · Hold 0 · Sell 0Feb 26 · Buy 0 · Hold 0 · Sell 0Feb 26Mar 26 · Buy 0 · Hold 0 · Sell 0Apr 26 · Buy 2 · Hold 0 · Sell 0Apr 26May 26 · Buy 2 · Hold 0 · Sell 0Jun 26 · Buy 2 · Hold 0 · Sell 0Jun 26Jul 26 · Buy 3 · Hold 0 · Sell 0Aug 26 · Buy 3 · Hold 0 · Sell 0Aug 26Sep 26 · Buy 4 · Hold 0 · Sell 0Oct 26 · Buy 4 · Hold 1 · Sell 0Oct 26Nov 26 · Buy 4 · Hold 1 · Sell 0Apr 26 · avg. target $44.00May 26 · avg. target $44.00Jun 26 · avg. target $44.00Jul 26 · avg. target $36.67Aug 26 · avg. target $33.00Sep 26 · avg. target $28.75Oct 26 · avg. target $23.75Nov 26 · avg. target $23.75Mar 26 · month-end close $7.66Apr 26 · month-end close $29.10May 26 · month-end close $16.17Jun 26 · month-end close $12.11Jul 26 · month-end close $10.76Aug 26 · month-end close $10.76Sep 26 · month-end close $4.58Oct 26 · month-end close $2.89Nov 26 · month-end close $2.89

Share of analysts per call each month (latest call per analyst within 180 days). Targets and closes in USD.

TipRanks data · computed Nov 4, 2026 · 11 ratings

Frequently asked questions

Where can I trade XNDU perpetual futures?

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU) perpetual futures trade on 1 crypto venues, including Bitget. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade XNDU around the clock?

Yes. Unlike the underlying stock, XNDU perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on XNDU perpetuals?

Right now the XNDU perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to 0.0% across 1 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the XNDU perp price compare to the Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares stock?

The venue-median XNDU perp mark is $2.69 versus a reference stock price of $2.69, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a XNDU perpetual future?

A XNDU perpetual is a derivative that tracks the price of Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares with no expiry date. It lets you take long or short exposure to Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares on crypto venues, around the clock.

What is XNDUUSDT perpetual?

XNDUUSDT is the symbol most crypto exchanges use for the Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares perpetual settled in USDT (Tether). It tracks the XNDU share price through an index, trades 24/7 with leverage and never expires.

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