Xanadu Quantum Technologies Limited (XNDU)

XNDU Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023
Revenue	4.62	1.59	2.48
Revenue Growth (YoY)	190.56%	-35.90%	-
Cost of Revenue	0.36	0.47	0.61
Gross Profit	4.26	1.12	1.87
Selling, General & Admin	16.61	7.91	6.64
Research & Development	55.24	39.22	35.72
Other Operating Expenses	-4.11	-0.29	-2.52
Operating Expenses	73.58	51.72	43.57
Operating Income	-69.32	-50.6	-41.7
Interest Expense	-0.85	-0.55	-0.28
Interest & Investment Income	2.06	5.22	6.79
Other Non Operating Income (Expenses)	-2.55	-0.04	-0.4
Pretax Income	-70.67	-45.97	-35.59
Net Income	-70.67	-45.97	-35.59
Net Income to Common	-70.67	-45.97	-35.59
Shares Outstanding (Basic)	5	5	5
Shares Outstanding (Diluted)	5	5	5
Shares Change (YoY)	0.56%	0.50%	-
EPS (Basic)	-14.29	-9.35	-7.27
EPS (Diluted)	-14.29	-9.35	-7.27
Free Cash Flow	-74.22	-46.5	-38.45
Free Cash Flow Per Share	-15.01	-9.46	-7.86
Gross Margin	92.18%	70.67%	75.59%
Operating Margin	-1501.45%	-3184.14%	-1682.01%
Profit Margin	-1530.58%	-2892.89%	-1435.74%
Free Cash Flow Margin	-1607.62%	-2926.62%	-1550.95%
EBITDA	-63.47	-45.73	-37.97
D&A For EBITDA	5.85	4.87	3.73
EBIT	-69.32	-50.6	-41.7

Source: S&P Global Market Intelligence. Standard template. Financial Sources.