Infleqtion, Inc.

Infleqtion, Inc. reported record second-quarter 2026 revenue of $12.6 million, a 116% increase year over year, and raised its full-year 2026 revenue outlook to approximately $43 million. The company ended the quarter with a strong balance sheet, holding $582 million in cash and no debt. Key business highlights include a Letter of Intent from the U.S. Department of Commerce for up to $100 million in proposed funding and continued progress towards 30 logical qubits in 2026, with plans for a quantum computer in Illinois by 2027.

Infleqtion reported a total revenue of $9.46 million for the first quarter of 2026, an increase from $8.30 million in Q1 2025, but its net loss widened significantly to $(30.26) million. The company's financial position was substantially transformed by the Business Combination with Churchill Capital Corp X on February 13, 2026, leading to a surge in cash and total assets, and turning stockholders' equity positive. Despite the operational loss, the merger recapitalization provided a strong balance sheet improvement.

Infleqtion reported record Q1 2026 revenue of $9.5 million, a 14% increase year-over-year, driven by expanding customer activity across its quantum portfolio. Despite a GAAP operating loss of $33.6 million, the company updated its 2026 revenue guidance to at least $40 million. Key commercial progress includes collaborations with NASA JPL and Safran, acceleration of its Quantum Spectrum platform, and new quantum software programs.

Infleqtion, Inc. appointed Nicholas Johnson as a Class III director, with his term expiring at the Company's 2029 annual meeting of stockholders. Mr. Johnson, a Partner at Archimedes Advisor Group and Managing Director at M. Klein & Company, was designated by Churchill Sponsor X LLC as per the Merger Agreement. He is not considered independent under NYSE listing standards due to M. Klein & Company's advisory agreement with Infleqtion, and consequently, will not receive director compensation while that agreement is in effect.

Infleqtion, Inc. announced its financial results for the year ended December 31, 2025, and provided forward-looking guidance. The company anticipates achieving $40 million in revenue for the year 2026. This optimistic outlook is primarily driven by increasing customer demand for Infleqtion's advanced quantum sensing and computing solutions, signaling potential growth in this emerging technology sector. Investors will likely view this guidance as a key indicator of the company's trajectory and market penetration in the quantum space.