Infleqtion, Inc. (NYSE: INFQ) has announced its financial results for the second quarter ended June 30, 2026. The Louisville-based neutral-atom quantum computing and quantum sensing leader delivered record quarterly performance driven by 100% organic growth across its dual computing and sensing verticals.
The table below summarizes key GAAP financial metrics for Q2 2026 compared with the prior quarter (Q1 2026) and the year-ago quarter (Q2 2025).
| Amounts in $M (except per share) | Q2’2026 | Q1’2026 | Q2’2025 | % vs Q1’2026 | % vs Q2’2025 |
| Revenue | $12.63 | $9.46 | $5.84 | +33.5% | +116.3% |
| Operating Expenses | $32.49 | $31.72 | $11.56 | +2.4% | +181.1% |
| Operating Loss | ($30.64) | ($33.58) | ($10.07) | -8.8% | +204.3% |
| Net Loss | ($25.47) | ($30.26) | ($8.85) | -15.8% | +187.8% |
| Cash and Short-Term Investments | $476.96* | $488.10* | $46.01* | -2.3% | +936.6% |
*Note: Cash and Short-Term Investments aggregates Cash and Cash Equivalents ($59.29M) and Current Available-for-Sale Securities ($417.67M), totaling $476.96M as of June 30, 2026. Adding non-current securities ($104.78M) and restricted cash brings total liquid capital reserves to $582.0 million (zero debt). Q2 balance includes a temporary $27.4 million working-capital benefit from collected stock option payroll taxes remitted in Q3. Historical baselines reflect QCR’s published figures.
Financial Highlights & Raised FY 2026 Guidance
Infleqtion generated record quarterly revenue of $12.63 million, representing a 116.3% increase year-over-year ($5.84M in Q2 2025) and a 33.5% sequential gain over Q1 2026 ($9.46M). Top-line expansion was entirely organic and derived 100% from quantum hardware, software, and sensing deployments.
Operating expenses for the quarter totaled $32.49 million ($12.68M R&D, $19.82M SG&A, offset by $0.47M grant income). GAAP Net Loss was ($25.47) million, or ($0.12) per share, compared to ($8.85) million in Q2 2025. On a non-GAAP basis, Non-GAAP Loss from Operations stood at ($16.98) million, excluding $12.07M in stock-based compensation and transaction-related expenses.
Driven by strong customer demand, Infleqtion raised its full-year 2026 revenue outlook to approximately $43 million.
Strategic U.S. Government LOI ($100M CHIPS Act Proposed Funding)
The U.S. Department of Commerce selected Infleqtion for a Letter of Intent (LOI) providing up to $100 million in proposed funding under CHIPS Act programs to accelerate neutral-atom commercialization following a technical review of the company’s hardware roadmap. The proposed funding contemplates the Department of Commerce receiving common stock in Infleqtion.
Computing Roadmap & Commercial Deployments
- Logical Qubit Target: On track to demonstrate 30 logical qubits in 2026, with defined circuits for enterprise customer workloads across energy, finance, and precision medicine.
- Illinois Quantum Computer Contract: Under contract to deploy a neutral-atom quantum computer at the Illinois Quantum & Microelectronics Park in 2027. The system features a new modular architecture designed to scale past 50 logical qubits toward a long-term goal of 100 logical qubits.
- Energy Sector Commercialization: Enterprise client Eaton is utilizing private-cloud access to Infleqtion’s Sqale system for complex energy grid applications.
- DOE Genesis Mission Wins: Selected for three U.S. Department of Energy Genesis Mission projects spanning AI, nuclear applications, and fusion research.
- Executive Appointment: Appointed Dr. Joseph Buck (former Lockheed Martin Senior Fellow) as Senior Vice President of Quantum Computing Systems to lead Sqale development.
Quantum Sensing & Defense Infrastructure
- NASA Quantum Gravity Gradiometer: Execution on NASA’s gravity gradiometry program served as a primary revenue driver in Q2.
- Tiqker Atomic Clocks: Commercializing its third-generation Tiqker optical atomic clock systems supported by a global co-selling partnership with Safran.
- Congressional Testimony: CEO Matt Kinsella testified before the U.S. House Committee on Natural Resources regarding the Quantum-Enhanced Critical Minerals Mapping Act of 2026.
Resources and Further Reading
Additional details regarding this report can be found in the Infleqtion Q2 2026 press release here, the Q2 2026 Earnings Presentation here. and the company’s SEC Form 8-K filing here.
August 12, 2026
