Second-Quarter Revenue Grew 279% Year-Over-Year; Increased FY2026 Outlook Demonstrated Near Five-Nines Logical Fidelity on Helios, Extending Leadership in Fault Tolerance Announced Industry-First Partnership with Oracle to Deploy Helios as an Oracle Cloud Infrastructure (OCI) Service Strengthened Supply Chain Through Strategic Collaboration with Major Global Electronics Manufacturer
Broomfiled, CO, August 11th, 2026 — ԹϺ Inc. (Nasdaq: QNT) (the “Company”), a leading quantum computing company, today announced financial results for the second quarter ended June 30, 2026.
"Our second quarter performance demonstrated strong execution against our strategy. We delivered critical R&D breakthroughs to advance our platform roadmap and enhance our competitive position, strengthened our supply chain and manufacturing capabilities, and increased our developer ecosystem engagement," said Rajeeb Hazra, President and CEO of ԹϺ. "As a result, we are seeing accelerating commercial momentum for the business, reflected in the second quarter results and the improved full-year outlook. With over $2 billion in cash, we have the capability to invest to accelerate our business plans, while maintaining a disciplined approach to capital allocation to ensure sustainable long-term growth and profitability."
Second Quarter 2026 Financial Highlights
• Completed industry’s first traditional initial public offering, raising $1.7 billion in gross proceeds
• Revenue was $8 million, +279% year-over-year, versus $2 million in the prior-year period
• GAAP gross margin was (64.4%), up 27 percentage points versus the prior-year period
• Adjusted gross margin was 62%, down 60 basis points versus the prior-year period
• GAAP net loss was $597 million, compared with a net loss of $57 million in the prior-year period
• Adjusted EBITDA loss was $68 million, compared with a loss of $43 million in the prior-year period
• GAAP net loss per share attributable to Class A common stockholders was $1.93
• Adjusted net loss per share was $0.28
• Cash & cash equivalents, and short-term investments were $2.1 billion as of June 30, 2026
Adjusted EBITDA, Adjusted Gross Margin and Adjusted net loss per share are non-GAAP financial measures defined under “Non-GAAP Financial Measures.” For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, refer to the Appendix tables at the end of this press release.
Second Quarter and Recent Business Highlights
Commercial Highlights
• Announced an industry-first strategic partnership with Oracle to deploy Helios on Oracle Cloud Infrastructure’s (OCI) AI data center to enable hybrid quantum-AI workloads as an OCI service. By operating on-premises within OCI’s infrastructure, Helios is anticipated to be able to integrate seamlessly with existing OCI compute, networking, storage, identity, and data services under the same governance and access controls customers already use.
• Announced strategic collaboration with HPE to establish a framework for combining quantum computing with HPC and AI environments and engage enterprise customers on hybrid quantum-classical solutions for high-value scientific and industrial use cases.
R&D Milestones
Product Technology and Supply Chain
• Demonstrated industry-leading near five-nines logical fidelity on Helios, with a novel QEC code family, reinforcing ԹϺ’s leadership in fault tolerance.
• Progressing towards the launch of Sol in 2027, with Sol’s trap chip back from fabrication and advancing through product validation.
• Apollo remains on schedule for 2029, with significant progress made across key architectural subsystems through prototyping.
• Signed a new joint development agreement with a leading global electronics manufacturer to co-develop the infrastructure, systems engineering, and manufacturing capabilities required for future generations of quantum computers.
• Entered into a letter of intent with the U.S. Department of Commerce’s CHIPS R&D Office to strengthen onshore supply chains and accelerate U.S. leadership in trapped-ion quantum computing.
Ecosystem
• Accelerated Nexus adoption, with 180 organizations now using the cloud-based developer platform to build new quantum applications.
• Launched Guppy Playpond, a frictionless web-based environment set up for developers to learn writing and testing code in Guppy, to increase adoption of this next-generation quantum programming language.
• Expanded the ԹϺ Startup Partner Program with Qedma, integrating its error suppression and mitigation software into ԹϺ’s Nexus platform, giving enterprise and scientific users an additional optimization layer that can improve accuracy for large, complex workloads.
Application Research
• Invented a new parallel quantum phase-estimation algorithm for faster and more precise determination of molecular properties, with broad applications including pharmaceuticals, life-sciences, and energy.
• Demonstrated, with NVIDIA and a Fortune 100 pharma company, how AI-driven quantum simulation can potentially enhance molecular property characterization in pharmaceutical applications.
• Simulated complex magnetic materials with accuracy beyond the practical capabilities of the most advanced classical computers, with applicability to improving maglev and MRI systems.
Financial Outlook
• Establishing first formal guidance as a public company, with 2026 revenue expected to be in the range of $28 to $32 million.
Second Quarter 2026 Conference Call
ԹϺ will host a conference call at 5 PM Eastern time on Tuesday, August 11, 2026, to discuss its results for the second quarter ended June 30, 2026, and provide a business update. The call will be available live via webcast
An archived replay of the webcast will be made available on the ԹϺ Investor Relations following the call and will remain available for one year.
Non-GAAP Financial Measures
To supplement ԹϺ’s condensed consolidated financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”), the Company uses the following non-GAAP financial measures presented in this release: Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Loss, fully distributed, Adjusted EBITDA, and Adjusted Net Loss Per Share, fully distributed.
Adjusted Gross Profit starts with GAAP gross profit and adds back equity compensation and related employer taxes attributable to cost of revenue and depreciation and amortization attributable to cost of revenue.
Adjusted Gross Margin is calculated as Adjusted Gross Profit divided by revenue, net.
Adjusted Net Loss, fully distributed starts with GAAP net loss on an as-converted basis, adds back GAAP income tax expense, adjusts for equity compensation and related employer taxes, costs of the initial public offering and the transition to public company reporting, the change in fair value of liability-classified warrants, and loss on disposal and write down of assets, and then applies an assumed statutory tax rate to the resulting adjusted pre-tax loss. No tax benefit is recognized in respect of losses subject to a full valuation allowance, and accordingly no tax benefit is reflected in the periods presented.
Adjusted EBITDA starts with Adjusted Net Loss, fully distributed, and further excludes interest income, net, depreciation, and amortization of acquired intangibles.
Adjusted Net Loss Per Share, fully distributed is calculated as Adjusted Net Loss, fully distributed, divided by adjusted shares, fully distributed, basic and diluted, comprising weighted-average Class A common shares outstanding and Common Units of ԹϺ Holdings.
Management believes these measures provide investors with additional information useful in evaluating the Company’s operating performance and trends across periods. ԹϺ’s results include large non-cash charges that do not reflect the cost of operating the business in the period, principally stock-based compensation recognized on completion of the Reorganization and remeasurement of liability-classified warrants. Both are driven by accounting triggers and external inputs rather than operating activity. As an early commercial-stage business, ԹϺ’s period-to-period results also are affected by the timing of individual contracts. Measures that isolate underlying operating performance from non-cash and transition items help investors assess trends across periods.
ԹϺ’s Up-C structure means that GAAP net loss attributable to ԹϺ Inc. reflects only the Class A share of the economics. Presenting adjusted results on an as-converted, fully distributed basis describes the whole economic enterprise, which is how management assesses performance and how the business is managed. Management uses these measures for internal planning and forecasting, evaluating operating performance, and preparing budgets.
These non-GAAP financial measures are supplemental and are not prepared in accordance with GAAP. They are not intended to be considered in isolation or as a substitute for the most directly comparable financial information prepared in accordance with GAAP. ԹϺ’s non-GAAP measures may differ from similarly titled measures used by other companies and, therefore, may not be comparable. Investors should review the reconciliations and should not rely on any single financial measure to evaluate the Company’s business.
Each non-GAAP financial measure is reconciled to its most directly comparable GAAP financial measure in the tables at the end of this release.
About ԹϺ
ԹϺ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of trapped-ion based quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity.1 ԹϺ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets, as well as academic and research institutions globally. The company has a global workforce of approximately 800 employees, including top scientists and researchers. Over 70% of its technology team holds PhDs or Master’s degrees. ԹϺ’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore. For more information, please visit www.quantinuum.com.
Availability of Information on ԹϺ’s Website
Investors and others should note that ԹϺ routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the ԹϺ Investor Relations website. While not all of the information that the Company posts to the ԹϺ Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in ԹϺ to review the information that it shares on.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of ԹϺ’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs, expectations and outlook are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. These statements often include words such as “anticipate,” “expect,” “guidance,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” “outlook,” “potential,” “continues,” “seeks,” “predicts,” or the negatives of these words and other similar expressions.
Factors that could cause actual results to differ materially from those described in forward-looking statements include, but are not limited to: our ability to develop, commercialize and achieve market acceptance of our quantum computing hardware and software products; the pace of development of the quantum computing industry and the timing of commercial quantum advantage; our ability to attract and retain customers for our quantum computing systems and quantum computing as a service offerings; the risk of technological obsolescence or the emergence of competing quantum computing approaches, including superconducting, photonic, or other modalities; our dependence on key suppliers and manufacturers of specialized components, including those necessary for our trapped-ion quantum systems; our ability to scale production of our quantum computers and related systems; our ability to protect our intellectual property and proprietary technology; the significant research and development costs inherent in developing next-generation quantum computing capabilities; our ability to attract and retain highly skilled scientists, engineers and other personnel in a competitive labor market; changes in government funding, export controls, or regulations affecting quantum technologies; uncertainty regarding the timing and extent of commercial applications; cybersecurity risks and the protection of sensitive customer data; and macroeconomic conditions, geopolitical instability and their potential effects on our business and operations. For additional information on these and other risks that could affect the Company's forward-looking statements, see the Company's risk factors discussed in its filings with the U.S. Securities and Exchange Commission, as such risk factors may be updated from time to time. You should evaluate all forward-looking statements made in this press release in the context of these risks and uncertainties. The Company disclaims any intent or obligation to update, revise or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation.
ԹϺ, the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. ԹϺ’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, ԹϺ leads the quantum computing revolution across continents.
September 11, 2026
ԹϺ to Participate in the Piper Sandler 5th Annual Growth Frontiers Conference
BROOMFIELD, Colo., September 11, 2026 - ԹϺ Inc. (Nasdaq: QNT) (the “Company”), a leading quantum computing company, today announced that members of its management team will participate in the Piper Sandler 5th Annual Growth Frontiers Conference, taking place September 14–16, 2026, in Nashville, Tennessee.
ԹϺ will participate in a fireside chat and host one-on-one meetings with investors during the conference.
About ԹϺ
ԹϺ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of trapped-ion based quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity. ԹϺ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets, as well as academic and research institutions globally.
The company has a global workforce of approximately 800 employees, including top scientists and researchers. Over 70% of its technology team holds PhDs or Master’s degrees. ԹϺ’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore.
ԹϺ Finalizes $100 Million CHIPS R&D Award with U.S. Department of Commerce to Advance Trapped-Ion Quantum Computer Manufacturing in the US
The federal funding supports critical R&D and U.S. quantum semiconductor manufacturing capabilities needed to scale fault-tolerant trapped-ion quantum computing.
Company partnering with GlobalFoundries to fabricate next-gen ion traps and control electronics, and Monarch Quantum to develop and manufacture reliable lasers and optical components.
Washington, D.C. – September 8, 2026 – ԹϺ (Nasdaq: QNT), a leading quantum computing company, today announced it has finalized an agreement with the U.S. Department of Commerce’s CHIPS Research and Development Office for $100 million in federal funding deployed through the CHIPS and Science Act. The award, which follows a letter of intent announced in May, supports R&D and U.S. quantum semiconductor manufacturing capabilities needed to deploy large-scale, fault-tolerant trapped-ion quantum computers.
ԹϺ, which was the only company with a trapped-ion based architecture to be awarded CHIPS R&D funding, develops the world’s most accurate commercial1 computers with industry-leading error correction fidelity.2 The company leverages established semiconductor manufacturing processes to help ensure reliability, repeatability, and scalability of the company’s current and future quantum computers.
“This award is a validation of ԹϺ’s leadership in trapped-ion quantum computing," said Dr. Rajeeb Hazra, President and CEO of ԹϺ. “Together with our domestic partners, we are building the technology and supply-chain foundation needed to scale fault-tolerant systems and strengthen America's leadership in this strategically important field.”
The award will support R&D that the company expects to help strengthen and diversify its supply chain, adding onshore partners GlobalFoundries and Monarch Quantum. GlobalFoundries will be one of several of ԹϺ’s foundries enlisted to fabricate its next-generation ion traps and other electronics, specifically focused on using 300mm wafer technology; Monarch Quantum plans to develop and manufacture scalable, reliable lasers and optical components required for ԹϺ’s trapped-ion systems.
“As quantum computing moves closer to commercial scale, manufacturing will be critical to unlocking its full potential,” said Tim Breen, CEO of GlobalFoundries. “GlobalFoundries is proud to partner with ԹϺ to help scale their trapped-ion technology. By bringing our expertise in high-volume, differentiated semiconductor manufacturing, we're helping create a path to more scalable, reliable quantum hardware and advancing the next generation of American innovation.”
“The road to large-scale, trapped-ion quantum computers relies on moving away from complex, sprawling optical setups to scalable, reliable integrated photonics engines," said Dr. Timothy Day, CEO of Monarch Quantum. "We are honored to expand our partnership with ԹϺ to advance their hardware roadmap and to help strengthen U.S. leadership in quantum computing manufacturing and supply chain resilience.”
Together, these efforts are intended to reduce system complexity and improve component robustness, reliability, and reproducibility, ultimately supporting the continued scaling of trapped-ion quantum computers, while strengthening domestic capability across critical photonics and semiconductor manufacturing.
About ԹϺ
ԹϺ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of trapped-ion based quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity.3 ԹϺ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets, as well as academic and research institutions globally. The company has a global workforce of over 800 employees, including top scientists and researchers. ԹϺ’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore. For more information, please visit www.quantinuum.com.
This press release contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. Such statements are based on certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. New factors emerge from time to time, and it is not possible for ԹϺ to predict all such factors. For additional information on these and other risks that could affect ԹϺ’s forward-looking statements, see ԹϺ’s risk factors discussed in its filings with the U.S. Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the period ended June 30, 2026, as such risk factors may be updated from time to time. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, ԹϺ does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
1 Based on physical two-qubit gate fidelity as of December 31, 2025, according to the . 2 As of February 25, 2026, according to . 3 As of December 31, 2025.
ԹϺ to Participate in the Bernstein 23rd Annual Pan-European Strategic Decisions Conference
BROOMFIELD, Colo., September 4, 2026 - ԹϺ Inc. (Nasdaq: QNT) (the “Company”), a leading quantum computing company, today announced that members of its management team will participate in the Bernstein 23rd Annual Pan-European Strategic Decisions Conference, taking place September 9–10, 2026, in London, United Kingdom.
ԹϺ will participate in a fireside chat and host one-on-one meetings with investors during the conference.
About ԹϺ
ԹϺ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of trapped-ion based quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity. ԹϺ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets, as well as academic and research institutions globally.
The company has a global workforce of approximately 800 employees, including top scientists and researchers. Over 70% of its technology team holds PhDs or Master’s degrees. ԹϺ’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore.
