Quantinuum raises 2026 revenue forecast after 233% quarterly growth

Revenue growth comes with larger losses

Quantinuum reported third-quarter revenue of $9.1 million for the period ended September 30, 2026, compared with $2.7 million in the same quarter a year earlier. Its GAAP gross margin rose to 33.3%, from negative 43.5%, while adjusted gross margin reached 74.6%, an increase of 853 basis points year over year.

The company also reported an adjusted EBITDA loss of $80 million, compared with a $45 million loss in the prior-year period. Its GAAP net loss increased to $118 million, from $52 million, with a GAAP net loss per Class A common share of $0.46 and an adjusted net loss per share of $0.29. Quantinuum had $1.940 billion in cash and cash equivalents as of September 30, 2026.

The company raised its full-year 2026 revenue forecast to between $31 million and $34 million, up from its previous range of between $28 million and $32 million. Rajeeb Hazra, Quantinuum's president and chief executive officer, said the quarter strengthened the company's technology leadership, customer base and sales channels.

Fault-tolerant roadmap advances

Quantinuum said it established successive world records for precision on its Helios system using two different codes within a scalable logical architecture. In October, the company reached 99.9995% logical fidelity, which it said is within Apollo's target range. The reported error rate was ten times lower than in September and 100 times lower than the best result published to date in other hardware modalities, according to Quantinuum.

The company said these results support its path toward universal, fully fault-tolerant quantum computing by 2029. Sol remains on schedule for the second half of 2027. Large-scale validation of its control system has been completed, while integration and assembly are planned for the first quarter of 2027. The system is intended to reach 100 logical qubits with a target logical error rate of 10^-5.

Apollo remains planned for 2029, supported by design milestones including validation that Quantinuum's cryogenic system can be deployed at the required scale. The company also expanded manufacturing partnerships with GlobalFoundries, Infineon, Honeywell Aerospace and Monarch Quantum, and said it was awarded research and development funding under the CHIPS Act.

Nexus adoption and cloud access expand

Quantinuum presented a multi-generation Nexus roadmap extending to Apollo. The roadmap is intended to align application development and hybrid deployment with successive hardware generations. A Nexus version launched in September expanded the Guppy tools for logical-qubit programming and error-correction coding, reducing the need to rewrite applications for specific codes.

Nexus adoption grew by nearly 20% from the previous quarter to 215 organizations. The number of tasks submitted increased tenfold year over year during the 12 months through August 2026. A December launch is expected to expand hybrid quantum-classical workflows, supported error-correction codes and execution analysis for application optimization.

Commercially, Quantinuum signed what it described as the largest cloud agreement in its history, a multiyear extension with a leading global financial institution that includes guaranteed access through Apollo and Nexus. It also reached an agreement with a large cloud service provider serving millions of developers and launched a joint beta program with Oracle for hybrid quantum and AI applications.

For users and the wider market, the developments point to Quantinuum's effort to make fault-tolerant quantum systems accessible through software and cloud channels while it continues developing the underlying hardware. The company also launched QUOPS with Sandia National Laboratories and NVIDIA to benchmark practical computational scale and speed, and said its Q-Net ecosystem had grown to more than 800 members.