Atom Computing, Inc.
ConvictionWeak
Pre-revenue deep-tech hardware: sells on-premises full-stack quantum systems to government/enterprise/sovereign buyers and provides cloud access via Microsoft Azure Quantum; revenue today is grants, partnership/co-development, and the first commercial system sales rather than recurring product revenue.
Revenue
not disclosedpre-meaningful-revenue; one commercial on-prem system sold to QuNorth in 2025, plus NSF/DARPA grant fundingRev growth
not disclosedGross margin
not disclosedOp margin
not disclosedloss-making R&D-stageCapex intensity
High — physical quantum-hardware fabrication and lab buildout are capital-intensiveatom arrays, lasers, vacuum, control electronicsValuation
~$300M+ cumulative capital raisedimplied post-money valuation not disclosed (Series C, Jun 2026). Last priced round = $100M Series C led by Third Point Ventures (announced 2026-06-16); a separate $100M U.S. Dept. of Commerce CHIPS LOI is non-dilutive and non-binding.The read
Where our coverage leans
Coverage leans bullish
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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.
- Income statement & margin structure
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- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Q2 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence