TLDR
- Q2 2026 revenue hit $8 million, up 279% year over year, beating the $7.6 million analyst estimate
- Full-year 2026 revenue guidance set at $28 million to $32 million, above Wall Street’s $26.5 million forecast
- Operating losses widened to $555 million from $51 million a year ago, driven largely by one-time IPO-related stock compensation
- Quantinuum announced a partnership with Oracle (ORCL) to install a Helios quantum system inside an Oracle Cloud data center in the US
- The company ended Q2 with approximately $2.1 billion in cash
Quantinuum delivered its first earnings report as a public company on Tuesday, posting Q2 2026 revenue of $8 million, up 279% from the same period last year and ahead of the $7.6 million analyst consensus tracked by FactSet.
🚨 ethereum:0x4a220e6096b25eadb88358cb44068a3248254675 (Quantinuum) Q2 2026 Earnings
Revenue nearly 4x…
$1.7B IPO + major cloud partnerships are the real story 👀
📊 KEY METRICS (Q2 2026)
🔹 Revenue: $8.0M (+279% YoY) 🟢
🔹 GAAP Gross Margin: –64.4% (improved 27 pts) 🟡
🔹…— Emmanuel – Big Tech & AI Investor (@EmmanuelInvest) August 11, 2026
The stock was up 0.2% in premarket trading Wednesday.
Quantinuum Inc. Class A Common Stock, QNT
Revenue growth was driven primarily by the cloud business, with customers split roughly evenly between inside and outside the US. Management guided full-year 2026 revenue of $28 million to $32 million, with a midpoint above the $26.5 million Wall Street had expected.
Year-to-date bookings reached approximately $81 million, including deals closed after the quarter ended. The company expects at least $120 million in full-year 2026 bookings and more than 100% revenue growth in 2027 relative to its 2026 outlook.
Remaining performance obligations stood at roughly $74 million at quarter end, with management saying that figure would rise in Q3 following post-quarter bookings.
Losses Swell After IPO
Operating losses widened sharply, reaching $555 million compared with $51 million in Q2 2025. The jump was largely tied to $447.5 million in stock-based compensation, most of it a one-time expense triggered by the company’s transition to public ownership.
On a non-GAAP basis, the net loss was $73 million, or $0.28 per share. Adjusted EBITDA came in at a loss of $68 million, compared to a $43.5 million loss a year earlier. Non-GAAP gross margin was 62%.
Quantinuum ended the quarter with approximately $2.1 billion in cash. Cash used in operating activities was $66.2 million and capital expenditures were $16.6 million.
The company’s traditional IPO in June raised $1.7 billion in gross proceeds. The stock rose as much as 19% on its first day of trading before giving back nearly all those gains, closing up less than 1%. It fell below its IPO price the next session.
Oracle Deal and Hardware Roadmap
The headline partnership announcement was with Oracle. Quantinuum will install a Helios quantum system inside an Oracle Cloud Infrastructure data center in the United States, the first Helios deployment outside the company’s own facility beyond a previously disclosed Singapore system. The deal will contribute some cloud revenue in 2026, with more expected when the system is delivered.
Quantinuum also announced a collaboration framework with Hewlett Packard Enterprise to integrate quantum computing with high-performance computing infrastructure.
On the hardware side, the company said it remains on track to launch its Sol system in 2027, designed with 192 physical qubits and 100 logical qubits. Validation testing of the first Sol traps has begun, with no major issues reported.
The fully fault-tolerant Apollo system is still planned for 2029. Jefferies analyst Kevin Garrigan, who initiated coverage in June, has called Apollo a potential “commercial tipping point” for the company.
More than 180 organizations are now developing on Quantinuum’s Nexus cloud platform, up from roughly 150 at the time of the IPO. A letter of intent with the US Department of Commerce could provide up to $100 million in milestone-based funding for US manufacturing of trapped-ion quantum technology.
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