The massive revenue beat and raised guidance are strong bullish signals for a pre-revenue quantum company, but the EPS miss and widening losses introduce caution. Monitor the Q3 2026 earnings for the remittance of the $27.4M payroll tax benefit and any updates on the $100M Commerce LOI, which are key catalysts.
Price Chart
Executive Summary
Infleqtion reported Q2 2026 revenue of $12.6M, up 116% YoY, and raised its full-year 2026 revenue outlook to approximately $43M. The GAAP net loss per share was -$0.12, which is a miss vs the consensus estimate of -$0.05. The strong revenue beat and raised guidance are offset by a significant EPS miss and widening operating losses, driven by heavy investment in R&D and go-public costs.
Key Financial Metrics
Key Facts
- Q2 2026 revenue of $12.6M, up 116% YoY from $5.8M.
- Full-year 2026 revenue outlook raised to approximately $43M.
- GAAP net loss per share of -$0.12 vs consensus estimate of -$0.05.
- GAAP operating loss of $30.6M, compared to $10.1M in Q2 2025.
- Ended Q2 with $582M in cash and no debt.
- U.S. Department of Commerce LOI for up to $100M in proposed funding.
- On track for 30 logical qubits in 2026.
- Cash from operations was $13.2M, including a $27.4M temporary working-capital benefit.
Financial Impact
Revenue beat of $2.0M (18.9%) vs $10.6M consensus; EPS miss of -$0.07 (140%) vs -$0.05 consensus.
Risk Factors
- EPS miss of 140% vs consensus indicates costs are growing faster than revenue.
- GAAP operating loss nearly tripled YoY to $30.6M, driven by R&D and SG&A investment.
- Revenue growth is from a small base and may not be linear.
- The $100M Commerce LOI is non-binding and subject to definitive agreements.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-056222 |
| Document: infq-20260812.htm | 0001628280-26-056222 |
| Document: 0001628280-26-056222-index-headers.html | 0001628280-26-056222 |
| Document: 0001628280-26-056222-index.html | 0001628280-26-056222 |
| Document: 0001628280-26-056222.txt | 0001628280-26-056222 |
| 8-K Data (Synthetic) | 0001628280-26-056222 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 24, 2026 4w ago | 8-K | $14.30 | awaiting T+60 | — | $8.63 (−39.65%) |
Aug 12, 2026 10w ago | 8-K | $12.18 | awaiting T+60 | — | $8.63 (−29.15%) |
Jun 1, 2026 21w ago | Insider Cluster | $19.87 $13.53 | ▲ +31.91% | ▲ +33.02% | $8.63 (+56.57%) |
May 29, 2026 21w ago | Insider Cluster | $17.69 $13.83 | ▲ +21.82% | ▲ +23.05% | $8.63 (+51.22%) |
May 28, 2026 21w ago | Insider Cluster | $16.22 $13.05 | ▲ +19.54% | ▲ +20.73% | $8.63 (+46.79%) |
May 28, 2026 21w ago | Insider Cluster | $16.22 $13.05 | ▼ −19.54% | ▼ −20.73% | $8.63 (−46.79%) |
May 27, 2026 21w ago | Insider Cluster | $17.77 $14.12 | ▼ −20.54% | ▼ −22.28% | $8.63 (−51.44%) |
May 14, 2026 23w ago | 8-K | — | awaiting T+60 | — | — |
May 14, 2026 23w ago | 8-K | $6.83 | awaiting T+60 | — | $8.63 (+26.35%) |
Apr 8, 2026 28w ago | 8-K | — | awaiting T+60 | — | — |
US Market Status
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