Quantinuum Inc.
ConvictionWeak
Full-stack quantum: hardware-as-a-service (cloud + on-prem system access), enterprise software/middleware (Guppy, Quantum Origin cybersecurity keys), and large strategic/government partnerships; pre-profit, R&D- and capex-heavy with lumpy contract-driven revenue.
Revenue
$30.9MFY2025); $5.2M (Q1 2026Rev growth
+34% FY25 vs FY24$23.0M); Q1 2026 -73% YoY ($5.2M vs $19.1M Q1 2025) — revenue is lumpy/contract-driven, not a clean growth curveGross margin
not disclosedearly-stage; revenue dominated by a few large contractsOp margin
deeply negative — FY2025 net loss $192.6M on $30.9M revenueCapex intensity
High — capital-intensive ion-trap fabrication + system buildoutnet loss far exceeds revenueMarket cap
~$14-15B IPO valuationJun 4 2026, $60/sh, 28M shares, $1.68B raised); traded ~$56-76 through late Jun 2026 (last private round was ~$10B, Jan 2024). Reported market caps vary widely by share-count basis ($15B-$20B+).Price · 1-year trend
real · weekly$76+34% 1yUSD
52-week range
$55 – $76
52w lowas of 2026-06-28 · Yahoo Finance52w high
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
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