Infleqtion reported second-quarter 2026 revenue of $12.6 million, up 116% from one year earlier. The neutral-atom computing and sensing company raised full-year revenue guidance to about $43 million.
GAAP operating loss reached $30.6 million, compared with $10.1 million in Q2 2025. Non-GAAP operating loss was $17 million, up from $7.3 million.
Revenue and cash
Infleqtion described all quarterly revenue as organic and quantum-related. NASA's Quantum Gravity Gradiometer program drove part of the annual increase. The company also sells Tiqker optical atomic clocks and works on computing projects for energy and government customers.
Cash, restricted cash, short-term investments, and available-for-sale securities totaled $582 million. Infleqtion reported no debt.
Operating cash flow was positive $13.2 million, but this figure included a temporary $27.4 million working-capital benefit. The company collected payroll taxes linked to stock-option exercises without remitting them before quarter end. Infleqtion expects payment during Q3. Excluding this timing effect, quarterly operating cash burn was about $14 million.
Hardware targets stay unchanged
Infleqtion reiterated its target of 30 logical qubits during 2026. The company also plans a neutral-atom system for Illinois in 2027, designed for modular growth beyond 50 logical qubits.
These targets remain forward-looking. Revenue from clocks, sensing contracts, and research programs does not verify fault-tolerant computing performance.
The company also cited a US Department of Commerce letter of intent covering up to $100 million in proposed funding. A letter of intent differs from received funding. Technical reviews and final agreements still govern any award.
Reading the quarter
Revenue growth was strong from a small base. Spending grew faster in absolute dollars, pushing GAAP operating loss to more than twice quarterly revenue.
The cash balance gives Infleqtion time to fund hardware and sensing programs. Investors should separate reported cash generation from the temporary payroll-tax benefit, which reverses in Q3.
Infleqtion's company announcement supplies every figure in this report. The quarterly filing and later hardware benchmarks will provide stronger tests of financial and technical progress.