Quantinuum Inc. (Nasdaq: QNT) has reported its financial results for the third quarter ended September 30, 2026. Following its inaugural public earnings report in Q2 2026, the Broomfield, Colorado-based trapped-ion computing leader announced accelerating commercial traction, its largest cloud contract to date, and new accuracy world records on its hardware roadmap.
The table below summarizes key GAAP financial metrics for Q3 2026 compared with the prior quarter (Q2 2026) and the year-ago quarter (Q3 2025).
| Amounts in $M | Q3’2026 | Q2’2026 | Q3’2025 | % vs Q2’2026 | % vs Q3’2025 |
|---|---|---|---|---|---|
| Revenue | $9.05 | $8.00 | $2.72 | +13.2% | +233.3% |
| Operating Expenses | $141.87 | $563.02 | $55.59 | -74.8% | +155.2% |
| Operating Loss | ($132.82) | ($555.03) | ($52.88) | +76.1% | -151.2% |
| Net Loss | ($117.85) | ($596.52) | ($52.04) | +80.2% | -126.5% |
| Cash and Cash Equivalents | $1,936.11* | $2,106.69* | $617.16 | -8.1% | +213.7% |
*Note: Cash and cash equivalents as of September 30, 2026 stood at $1.94 billion. The sequential change from June 30, 2026 ($2.11B) reflects operational cash deployment, capital expenditures ($25.5M), and tax withholdings on vested equity. Historical baselines align with previously published QCR earnings data.
Financial Highlights & Raised FY 2026 Guidance
Quantinuum generated $9.05 million in revenue for Q3 2026, representing a 233.3% increase year-over-year compared to $2.72 million in Q3 2025 and 13.2% sequential growth over Q2 2026 ($8.00M). Top-line growth was supported by hardware access, expansion of multi-year cloud agreements, and developer platform adoption.
GAAP operating expenses normalized to $141.87 million, a 74.8% sequential reduction following the heavy one-time stock-based compensation charges recognized during the Q2 IPO reorganization. Operating loss stood at ($132.82) million.
On an as-converted basis, GAAP Net Loss was ($117.85) million, or ($0.46) per Class A share. On a non-GAAP basis—excluding stock-based compensation, public transition costs, and asset adjustments—Adjusted EBITDA loss was ($80.50) million, while Adjusted Gross Margin reached 74.6% ($6.75M non-GAAP gross profit).
Raised Full-Year 2026 Outlook
Backed by expanding enterprise demand, Quantinuum raised its full-year 2026 revenue guidance to between $31 million and $34 million (up from its prior $28M–$32M range). Management also projected:
- FY 2026 Bookings: Expected to surpass $120 million.
- FY 2027 Revenue Growth: Targeted at greater than 100% year-over-year growth over updated 2026 revenue.
Commercial Highlights & Strategic Agreements
- Largest Cloud Contract in History: Signed a major multi-year expansion with a leading global financial institution, securing dedicated access through its Nexus cloud platform and future Apollo hardware.
- Enterprise & Hyperscaler Expansion: Expanded cloud distribution through a new agreement with a major hyperscaler and launched a joint beta program with Oracle Cloud Infrastructure (OCI) for hybrid quantum-AI workloads.
- Pharma & Materials Science Wins: Partnered with a top-5 global pharmaceutical enterprise to apply quantum algorithms and AI to cancer-therapy materials. Signed an agreement with GE Vernova for superconducting materials modeling and partnered with the Abu Dhabi Maritime Academy and Quincus for maritime logistics optimization.
- Government Programs: Continued execution on DARPA’s Quantum Benchmarking Initiative (QBI) Stage B with discussions underway for Stage C, while participating in four winning proposals under Phase 1 of the U.S. Department of Energy’s Genesis Mission.
- International Deployments: Advanced on-site assembly of a Helios trapped-ion system in Singapore ahead of its spring 2027 commissioning, and completed the scheduled upgrade of the Reimei system at RIKEN in Japan.
Hardware Roadmap & Error-Correction Breakthroughs
- Record 99.9995% Logical Fidelity: Quantinuum achieved back-to-back world records on Helios using two error-correcting codes within a single architecture. In October 2026, Helios reached 99.9995% logical memory fidelity (an error rate of 5 × 10-6), entering Apollo’s targeted fidelity range and achieving an error rate 100 times lower than the best published result across any other physical modality.
- Sol (2027) on Schedule: Completed full-scale control-system validation, with integration and assembly slated for Q1 2027 ahead of 2H 2027 delivery. Sol targets 100 logical qubits with logical error rates around 10-5.
- Apollo (2029) Subsystems: Validated scalable cryogenic subsystem deployments required for multi-thousand physical qubit scaling.
- CHIPS Act Award & Supply Chain: Finalized its CHIPS Act R&D award from the U.S. Department of Commerce as the sole selected trapped-ion hardware manufacturer, supported by commercial foundry agreements with GlobalFoundries, Infineon, Honeywell Aerospace, and Monarch Quantum.
Software Platform & Ecosystem Growth
- Nexus Multi-Generational Roadmap: Quantinuum recently published its Nexus roadmap to automate fault-tolerant application deployment through 2029. The September release introduced automated logical-qubit encoding tools for the Guppy language, with an upcoming December release expanding hybrid quantum-classical scheduling.
- Platform Adoption: Active organizations on Nexus rose nearly 20% sequentially to 215 organizations (up from 180 in Q2), with total job submissions expanding more than tenfold year-over-year.
- QUOPS Benchmark Initiative: Partnered with Sandia National Laboratories and NVIDIA to launch QUOPS (Quantum Operations Per Second), establishing an objective speed-and-scale benchmark for utility-scale quantum systems.
- User Community: Expanded its global user network to more than 800 members, welcoming eight new startup partners.
Resources and Further Reading
Additional details regarding this report can be found in the Quantinuum Q3 2026 press release here, the Q3 2026 Investor Presentation here, and the company’s SEC Form 8-K filing here.
November 7, 2026