Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU) financials
NASDAQ · Technology · Software - Infrastructure · 252 employees · CEO Christian Weedbrook
- Price
- $2.89 -7.07%
- Market cap
- $161M
- Enterprise value
- -CA$136M
- Last report
- Q2 '26 filed 2026-08-05
- Next report
- 2026-12-02
Valuation & key figures
- Market cap
- $161M EV -CA$136M
- Revenue
- CA$7.84M Trailing 12 months
- Revenue growth
- – Next fiscal year
- Profit margin
- -1,577.3% Net income / revenue, TTM
- P/E
- -1.0×
- P/S
- 28.6× Price / sales, TTM
- EV / EBITDA
- 1.4× TTM
- Free cash flow
- -CA$75.5M Trailing 12 months
- Net income
- -CA$124M Trailing 12 months
- Revenue estimate
- – Next fiscal year
- Earnings
- 2026-12-02
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- 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.
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 | CA$2.15M | CA$0 | – |
| Gross margin | 91.5% | – | – |
| Operating income | -CA$42.6M | -CA$199K | -21,369.4% |
| Operating margin | -1,984.8% | – | – |
| Net income | -CA$59.8M | CA$1.22M | -5,000.4% |
| Diluted EPS | -CA$1.99 | CA$0.06 | -3,672.7% |
| Operating cash flow | -CA$33.5M | -CA$603K | -5,457.5% |
| Capex | CA$9.42M | -CA$5.47 | +172,295,090.9% |
| Free cash flow | -CA$43M | -CA$603K | -7,019.7% |
| R&D | CA$28M | CA$0 | – |
| Stock-based compensation | CA$6.65M | CA$0 | – |
Revenue
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- Operating cash flow
- -CA$63.8M
- Capex
- -CA$11.6M
- Buybacks
- CA$0
- Dividends
- CA$0
- Acquisitions
- CA$0
- Net debt issued
- CA$5.12M
- Stock-based compensation
- CA$8.37M
- Free cash flow
- -CA$75.5M
- Returned to shareholders / FCF
- 0.0%
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) | -1.0× | – | – |
| EV / EBITDA | 1.4× | – | – |
| EV / Sales | -17.3× | 1,224.4× | 76.2× – 2,275.4× |
| Price / FCF | -3.0× | – | – |
| Price / Book | 0.3× | 22.9× | 1.2× – 41.9× |
| FCF yield | -33.6% | -1.1% | -1.3% – -0.8% |
| Return on invested capital | -20.2% | -31.8% | -45.0% – -22.5% |
| Return on equity | -47.3% | -34.4% | -52.5% – -23.8% |
Analysts
Consensus target $17.92 (+520.1%)
range $3.75 – $34.00 · rating Buy
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.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings.
Data as of 2026-11-02 · Amounts in CAD as reported; price and market cap in USD.