PSIQUANTUM·Quantum Computing — silicon-photonic, fusion-based fault-tolerant (full-stack hardware)Pre-IPO · Private

PsiQuantum Corp.

ConvictionWeak

Capital-intensive deep-tech hardware: builds and operates utility-scale fault-tolerant quantum computers; revenue model is pre-commercial today (government R&D contracts, deployment partnerships, future QCaaS / system sales), funded primarily by venture equity + sovereign-government capital (equity/grants/loans).

Revenue

not disclosedprivate; no audited revenue published — secondary aggregator marks of ~$10.8M and ~$240.3M conflict and are not primary-sourced

Rev growth

not disclosed

Gross margin

not disclosedpre-commercial

Op margin

not discloseddeeply cash-burning, pre-revenue at scale

Capex intensity

very high — multi-site fab/datacenter buildoutsChicago IQMP, Moreton Bay QLD) running into the high hundreds of millions to billions per site

Valuation

~$7BSeries E post-money, Sep 2025

Valuation trail

$7B2.2× since Jul 2021

3 marks · Jul 2021–Sep 2025

private — no public price

Priced round

Quantum-computing pre-revenue; only 3 priced points have a disclosed valuation. Series C (Nov 2019) and seed valuations were never disclosed (omitted); a ~$10.5B May-2026 mark appears on aggregators (Sacra/Tracxn) but is uncorroborated by primary news, so omitted. Mar-2025 $6B is Reuters 'sources say' pre-announcement.

The read

Where our coverage leans

Coverage leans bullish

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Full financial intelligence for PsiQuantum Corp.

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
SWOT, moats & dependency map
Supplier–customer ecosystem graph
Signals, trends & valuation range

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