IQM Quantum Computers reported third quarter 2026 revenue of €8.9 million, a 51% increase year-over-year that nonetheless fell short of analyst expectations due to the timing of customer acceptances. The company recorded a substantial net loss of €152.6 million, though this was primarily driven by non-recurring technical accounting charges related to its recent Nasdaq listing. Commercial momentum remained robust, with the order backlog reaching a record €102.5 million, providing strong visibility into the 2027-2029 technology roadmap.
Key Highlights
- Revenue grew 51% to €8.9 million, although results were lower than projected as revenue recognition for standardized systems depends on customer-side site readiness.
- Order backlog surged to €102.5 million, up 52% from the start of the year, following record new orders of €42.2 million in the quarter.
- The operating loss of €171.2 million was largely impacted by a one-time, non-cash share listing expense of €127.1 million and €13.5 million in transaction costs.
- Secured the company’s largest contract to date, a €33 million deal with CSC’s LUMI AI Factory to deliver an error-correction platform with logical qubits.
- Management reaffirmed full-year 2026 guidance for revenue between €42 million and €47 million and order intake between €65 million and €75 million.