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GlobeNewsWire
2 months ago
IQM Quantum Computers Reports First Earnings as Public Company, Reporting First Half and Second Quarter 2026 Results, and Initiates FY 2026 Guidance Supported by Over EUR 102 million Order Backlog
IQM Quantum Computers Plc, Stock Exchange Release, Half year financial report August 4, 2026 at 08:00 (EEST) ESPOO, FINLAND | August 4, 2026 | IQM Quantum Computers Plc (Nasdaq: IQMX) (“IQM”, “IQM Quantum Computers” or the “Company”), a global leader in full-stack superconducting quantum computers, today announced its financial results for the first half and second quarter of 2026, ended on June 30, 2026. First Half and Year to Date 2026 Financial Highlights Order backlog of EUR 69.1 million as of June 30, 2026 EUR 33.0 million added to backlog since June 30, 2026, bringing total order backlog to over EUR 102.1 million as of August 3, 2026 Total revenues for the six months ended June 30, 2026, were EUR 8.9 million Operating loss for the six months ended June 30, 2026, was EUR 60.5 million Cash Balance of EUR 309.4 million as of July 2, 2026, inclusive of listing proceeds 2026 Financial Outlook: Full-Year New Order Intake Target: EUR 65 million to EUR 75 million Full-Year 2026 Revenue Target: EUR 42 million to EUR 47 million First Half and Year to Date 2026 Operational Highlight s Expansion into several new markets, including Japan and Spain, through new customer wins and customer engagements 17 systems in total delivered globally to customers since founding, with 26 total systems sold Notably, first US delivery to US Department of Energy's Oak Ridge National Laboratory in Tennessee in June 2026 Strong new sales momentum with a landmark deal announced with CSC, where IQM was selected to integrate a quantum computer into the LUMI AI Factory, connected to one of the world's leading supercomputers Concrete use-cases exploration with Deutsche Bahn that demonstrated a hybrid quantum-classical railway scheduling solution using real operational data on today's IQM hardware Significant advancements in error correction, first introducing tile codes and further refining them with the "barbell codes"—a novel family of qLDPC error correction codes customized for the IQM Constellation topology, showing strong improvement in efficiency More than EUR 40 million investment into industrial expansion of our proprietary fab, doubling cleanroom capacity to enable the production of up to 30 full-stack quantum computers per year Key ecosystem partnerships and collaborations including with NVIDIA, conducting AI-driven parallel qubit calibration using the NVIDIA Ising open family of AI models, helping automate system tuning and improve system uptime Collaboration with HPE including integrating IQM's superconducting quantum computers with HPE Cray HPC infrastructure for hybrid enterprise environments Significantly strengthened and expanded board with independent industry professionals as board members Expanded management team with experienced key new hires, including CTO, COO and promoting Chief Scientist Hosted successful inaugural Capital Markets Day in June 2026.
