Broomfield – November 05, 2026 -- Quantinuum Inc. (Nasdaq: QNT) raised its full-year 2026 revenue outlook to $31 million to $34 million, up from $28 million to $32 million, after third-quarter revenue rose 233% year-over-year to $9.1 million from $2.7 million.
Losses widen as margins improve
GAAP gross margin reached 33.3%, compared with negative 43.5% a year earlier. Adjusted gross margin was 74.6%, up 853 basis points year-over-year.
Losses grew alongside revenue. Adjusted EBITDA loss was $80 million, against $45 million in the prior-year period. GAAP net loss was $118 million, against $52 million, or $0.46 per Class A share. Adjusted net loss per share was $0.29. Cash and cash equivalents stood at $1.94 billion on September 30, 2026.
CEO Rajeeb Hazra said the momentum gives the company "more confidence than ever" in its opportunity.
Largest cloud deal in company history extends financial-sector commitment
Quantinuum signed a multi-year extension with a leading global financial institution that includes committed access through its Apollo and Nexus platforms. The company calls it the largest cloud agreement in its history.
It also signed a top-5 global pharmaceuticals company to apply quantum computing and AI to cancer-therapy materials. GE Vernova will work with it on superconducting materials, and Abu Dhabi Maritime Academy and Quincus on maritime logistics.
On distribution, Quantinuum added a cloud agreement with a leading hyperscaler serving millions of developers. It also launched a joint beta program with Oracle for hybrid quantum-AI applications.
Government work continues under DARPA and Energy Department programs
Quantinuum continues to execute on its DARPA QBI Stage B contract and is discussing a Stage C scope of work. It is participating in four winning proposals under Phase 1 of the Department of Energy's Genesis Mission.
Abroad, Helios assembly is underway in Singapore ahead of spring 2027 commissioning. A Reimei system upgrade at RIKEN in Japan is scheduled for completion in November.
Helios hits 99.9995% logical fidelity in October
Quantinuum reported back-to-back accuracy world records on Helios, using two codes within the same logical architecture. October's 99.9995% logical fidelity carried an error rate ten times lower than September's record. The company says that is 100 times lower than the best published result on other hardware modalities.
The roadmap targets universal, fully fault-tolerant quantum computing by 2029. Sol remains on track for the second half of 2027, with control-system validation complete and integration and assembly targeted for Q1 2027. The goal is 100 logical qubits at a target logical error rate of 10-5. Apollo remains on track for 2029 after validation that its cryogenic system can be deployed at the required scale.
For manufacturing, Quantinuum works with GlobalFoundries, Infineon, Honeywell Aerospace and Monarch Quantum. It also finalized its CHIPS R&D award as the only trapped-ion company selected.
Nexus adoption reaches 215 organizations
Nexus adoption grew nearly 20% quarter-over-quarter to 215 organizations. Total job submissions rose tenfold in the 12 months through August 2026 versus the preceding 12 months. A September release extended Guppy tools for logical-qubit programming and supported error-correction encoding. A December release will add hybrid quantum-classical workflows, more supported error-correction codes and execution analytics.
Quantinuum also introduced the QUOPS benchmark with Sandia National Laboratories and NVIDIA to measure useful computational scale and speed. Its Q-Net ecosystem grew to more than 800 members, with eight new startup partners, and a global quantum challenge organized with Singapore's National Quantum Office drew more than 200 submissions.