Canada · Delayed Price · Currency is CAD Xanadu Quantum Technologies Earnings Call Transcripts
Fiscal Year 2026
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The roadmap targets over 1,000 logical qubits by 2031, with aggressive loss reduction and error rate goals supported by new manufacturing capabilities and strong government funding. PennyLane's broad adoption and hardware-agnostic design underpin a robust ecosystem, while commercialization focuses on cloud access, system sales, IP, and software.
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Q2 saw advances in photonic chip packaging, expanded U.S. operations, and deepened industry partnerships. Revenue declined sequentially but rose year-over-year, with increased R&D and CapEx supporting growth. Cash position remains strong at CAD 312.8 million.
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Revenue grew to CAD 2.8 million, driven by DARPA and government grants, while R&D investment accelerated to support quantum hardware and software milestones. Strong cash position and new partnerships position the company for scaling toward a quantum data center by 2029-2030.
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A major transaction will provide significant capital and public market access, supporting the build-out of a utility-scale photonic quantum computer by 2029–2030. The company’s differentiated technology, strong partnerships, and robust financial backing position it as a leader in scalable, room-temperature quantum computing, with broad industry impact expected.
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A business combination will provide over $499 million in funding to accelerate the deployment of a scalable, photonic quantum computer and the commercialization of PennyLane software. Xanadu is positioned as the only public photonic quantum computing company, with strong government support, industry partnerships, and a leading software platform.