Quantinuum Inc. (NASDAQ: QNT) has reported its financial results for the second quarter ended June 30, 2026. This release marks Quantinuum’s inaugural quarterly financial report as a public company following the successful completion of its traditional initial public offering (IPO), which raised $1.7 billion in gross proceeds.

Because of Quantinuum’s Up-C corporate structure following its public offering reorganization, GAAP net loss attributable to Quantinuum Inc. covers the period from June 5, 2026 through June 30, 2026. Management evaluates the overall enterprise on an as-converted, fully distributed basis. The table below summarizes key financial metrics for Q2 2026 compared with the year-ago quarter (Q2 2025).

Amounts in $M (except per share)Q2’2026Q2’2025% YoY
Revenue$8.00$2.11+279.4%
Gross Profit (GAAP)($5.15)($1.94)+166.2%
Adjusted Gross Profit (Non-GAAP)$4.94$1.31+276.1%
Operating Expenses$563.02$53.20+958.4%
Operating Loss($555.03)($51.09)+986.4%
GAAP Net Loss (As-Converted)($596.52)($56.92)+948.0%
Adjusted Net Loss (Fully Distributed)($73.11)($49.92)+46.4%
Adjusted EBITDA Loss($68.31)($43.45)+57.2%
GAAP Loss Per Share (Class A)($1.93)N/A—
Adjusted EPS (Fully Distributed)($0.28)N/A—
Cash and Short-Term Investments$2,106.69$762.64*+176.2%

*Note: Baseline cash comparison reflects December 31, 2025 ($762.64M). The $2.11 billion balance as of June 30, 2026, reflects the net proceeds from the $1.7 billion IPO completed in June 2026.

Financial Overview and FY2026 Guidance

Quantinuum generated $8.00 million in revenue for Q2 2026, representing a 279.4% increase year-over-year compared to $2.11 million in Q2 2025. Top-line expansion was driven by accelerating enterprise adoption across cloud access, professional services, and developer ecosystem tools.

GAAP Net Loss was ($596.52) million on an as-converted basis, heavily impacted by one-time non-cash stock compensation charges ($464.59M) triggered by the reorganization and public listing, $10.62M in IPO transaction costs, and a $47.62M non-cash fair-value adjustment on warrant liabilities. On a non-GAAP basis:

  • Adjusted Gross Profit reached $4.94 million (61.7% Adjusted Gross Margin).
  • Adjusted EBITDA Loss stood at ($68.31) million.
  • Adjusted Net Loss Per Share (fully distributed across 261.5M adjusted shares) was ($0.28).

The company closed the quarter with $2.11 billion in cash, cash equivalents, and short-term investments.

Full-Year 2026 Guidance

Quantinuum established its first formal financial guidance as a public company, forecasting full-year 2026 revenue to be in the range of $28 million to $32 million.

Commercial Highlights & Major Partnerships

  • Oracle Cloud Infrastructure (OCI) Deployment: Announced an industry-first strategic partnership with Oracle to deploy its next-generation Helios system directly within OCI’s AI data centers. Running on-premises within OCI allows Helios to integrate directly with OCI compute, storage, networking, and security services for hybrid quantum-AI workloads.
  • HPE Hybrid Supercomputing: Partnered with Hewlett Packard Enterprise to combine trapped-ion quantum processing with high-performance computing (HPC) and AI environments for scientific and industrial workflows.
  • Global Electronics Manufacturing Partner: Signed a joint development agreement with a major global electronics manufacturer to co-develop supply chain, systems engineering, and volume manufacturing infrastructure for future QCCD systems.
  • CHIPS Act LOI: Entered into a letter of intent with the U.S. Department of Commerce’s CHIPS R&D Office to accelerate onshore manufacturing and trapped-ion supply chain resilience.

R&D Milestones & Hardware Roadmap

  • Helios Five-Nines Logical Fidelity: Demonstrated near “five-nines” (99.999%) logical qubit fidelity on Helios utilizing a novel quantum error correction (QEC) code family.
  • Sol (2027) Progress: The trap chip for Sol (scheduled for 2027 launch) returned from fabrication and entered product validation testing.
  • Apollo (2029) Progress: Prototyping advanced across key architectural subsystems for Apollo.
  • Developer Ecosystem Expansion: Reached 180 active organizations on the Nexus cloud platform; launched Guppy Playpond for developer onboarding; and integrated Qedma’s error suppression tools into Nexus.
  • Application Advances: Invented a new parallel quantum phase-estimation algorithm for molecular property calculations; demonstrated AI-driven quantum simulation with NVIDIA and a Fortune 100 pharmaceutical firm; and simulated complex magnetic materials beyond classical compute limits.

Resources and Further Reading

Additional details regarding this report can be found in the Quantinuum Q2 2026 press release here, the Q2 2026 Earnings Call Transcript here, and the company’s SEC Form 8-K filing here.

August 12, 2026

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