Xanadu Quantum Applied sciences Ltd. (NASDAQ/TSX: XNDU) has introduced its monetary outcomes for the second quarter ended June 30, 2026. The Toronto-based photonic quantum chief highlighted vital {hardware} and algorithmic progress, growth of its U.S. operations, and strategic use of its artificial at-the-market (ATM) fairness facility to fortify its steadiness sheet.
Due to the reverse recapitalization ensuing from its Q1 2026 SPAC merger, historic share counts and per-share metrics have been retroactively recast. The desk under summarizes key GAAP monetary metrics for Q2 2026 in contrast with the prior quarter (Q1 2026) and the year-ago quarter (Q2 2025).
*Notice: Q2 2025 money steadiness displays the pre-merger personal entity baseline.
Monetary Outcomes and ATM Fairness Facility Utilization
Xanadu ended the second quarter in a robust liquidity place with $312.8 million in money and money equivalents, up from $272.5 million on the finish of Q1 2026. This enhance was primarily pushed by the disciplined utilization of its $300 million Standby Fairness Buy Settlement (artificial ATM facility) established with Yorkville Advisors in Could 2026. Throughout Q2, the corporate raised $67.2 million in internet proceeds by issuing 5.5 million Class B subordinate voting shares at a mean internet value of $12.28 per share.
Second-quarter income was $1.51 million, representing a 42.5% enhance year-over-year in comparison with $1.06 million in Q2 2025 (primarily pushed by DARPA Stage B contract income), although down sequentially from $2.83 million in Q1 2026.
GAAP Web Loss for Q2 2026 expanded to ($42.05) million, or ($0.14) per primary and diluted share, in comparison with ($20.60) million in Q1 2026 and ($15.14) million in Q2 2025. The widening loss was pushed by elevated R&D engineering hires ($19.72M vs $17.35M in Q1), larger G&A public firm prices ($11.05M), and a $10.60 million non-cash loss on the honest worth remeasurement of earn-out share liabilities. On a non-GAAP foundation, Adjusted EBITDA loss was ($21.33) million.
Capital expenditures for the quarter rose sharply to $6.4 million (up from $0.3M in Q1 2026), reflecting elevated investments in foundry fabrication runs and laboratory infrastructure.
{Hardware} and Fabrication Breakthroughs
Software program, Algorithms, and Ecosystem Momentum
Sources and Additional Studying
Extra data relating to this report will be discovered within the Xanadu Q2 2026 press launch right here.
August 6, 2026
