| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 45 | — | 17.3x | Around median | |
Growth | 94 | — | 7.1% | Top tier | |
Quality | 19 | — | 4.5% | Bottom tier | |
Safety | 60 | — | 2.6x | Around median | |
Capital Return | 18 | 0.00% | 0.06% | Bottom tier | |
Momentum | 20 | — | -1.6% | Bottom tier | |
Sentiment | 61 | 2 | 3 | Around median |
Infleqtion Inc is a quantum technology company building a single neutral-atom-based platform that serves three interconnected fields: quantum computing, sensing and timing, and software. The company generates revenue from selling quantum systems, executing government and commercial programs, and providing access to its computing platform through Sqale, Superstaq, and CUDA-Q; according to the April 13, 2026 call, historically about two-thirds of revenue came from sensing and about one-third from computing, with the mix potentially fluctuating when a large quantum computer is sold. Fiscal year 2025 revenue was approximately $32.5 million, entirely organic and derived from quantum computing and technology operations, while the business was heavily focused on national security applications.
In the first quarter of fiscal year 2026, revenue rose to $9.5 million from $8.3 million in the first quarter of fiscal year 2025, or approximately 14.5%. However, gross profit declined to $2 million from $3.4 million, causing the calculated gross margin to fall to approximately 21.1% from approximately 41.0%. The net loss widened to $30.3 million from $6.0 million, despite the loss per share improving to $0.26 from $0.41, showing that sales growth has not yet translated into a comparable improvement in profitability.
Fiscal year 2025 showed operational progress before the substantial increase in losses in the first quarter of fiscal year 2026; the GAAP operating loss narrowed to $35.3 million from $53 million in fiscal year 2024, while net cash used in operating activities improved to $24.1 million from $32.5 million. The company ended fiscal year 2025 with $63 million in cash and cash equivalents and no debt, after which its estimated cash balance exceeded $550 million following $515 million in net proceeds from the February 2026 financing. This gives Infleqtion the financial capacity to execute its computing and sensing roadmap, but it does not eliminate the need to control losses and cash spending.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is "Buy," with an average price target of $20.75 and a relatively narrow range of $19 to $22; the average is only approximately 2.5% below the 52-week range high of $21.28, while the highest target exceeds that high. Conversely, there is no price-to-earnings ratio because of the losses, and the sales multiple is 22.80, making the valuation dependent on continued growth following the 116% jump in second-quarter fiscal year 2026 revenue and on margin improvement after the calculated gross margin fell to approximately 21.1% in the first quarter of fiscal year 2026.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Infleqtion generates revenue from quantum computing systems, sensing and timing products, software, and government and commercial programs built on its neutral-atom platform. Fiscal year 2025 revenue was approximately $32.5 million, entirely organic and derived from its quantum operations. Management stated on April 13, 2026 that the historical mix was approximately two-thirds sensing and one-third computing, with computing potentially increasing when a large system sale is completed. Management expected sensing to retain the larger share until the computing system approaches the target of 100 logical qubits in 2028.
Revenue for the first quarter of fiscal year 2026 rose to $9.5 million from $8.3 million in the first quarter of fiscal year 2025, or approximately 14.5%. On August 12, 2026, the company announced that second-quarter fiscal year 2026 revenue grew by 116%, then raised its fiscal year 2026 guidance without the data including the new figure. Conversely, the company missed earnings-per-share estimates in the second quarter of fiscal year 2026. This means commercial acceleration has strengthened, but the path to profitability still needs to be demonstrated.
Infleqtion achieved 2 logical qubits in fiscal year 2024, followed by 12 logical qubits in fiscal year 2025, and is targeting 30 logical qubits in fiscal year 2026. The next target is 100 logical qubits in 2028, the level that management believes could unlock impactful applications in materials science and artificial intelligence. The platform has also recorded 1,600 physical qubits, and the company is working to reduce the ratio of physical qubits required per logical qubit from a known path of 24 to one toward three to five to one. Achieving this roadmap remains one of the two performance indicators management asked investors to monitor, alongside delivering on revenue guidance.
Products include Sqale for computing, Superstaq for software, the Tiqker optical atomic clock, and the QRF platform for radio-frequency sensing. The company has sold two quantum computers, one operating at the National Quantum Computing Center in the United Kingdom and the other a 500-qubit system at the Institute for Molecular Science in Japan. In sensing, Safran integrated Tiqker technology with White Rabbit and Secure Sync, while the Royal Navy tested the clock under the Excalibur program for GPS-independent navigation. NASA selected the company to develop the quantum core for the Quantum Gravity Gradiometer Pathfinder mission, and it also became eligible to compete under the SHIELD program.
Infleqtion ended fiscal year 2025 with $63 million in cash and cash equivalents and no debt. Following $515 million in net proceeds from the February 2026 financing, its estimated cash balance exceeded $550 million. Cash burn was approximately $36 million in fiscal year 2025, while cash used in operating activities improved to $24.1 million from $32.5 million in fiscal year 2024. Nevertheless, management expects a modest increase in cash burn during fiscal year 2026 to fund research and development and marketing.
The stock has no price-to-earnings ratio because Infleqtion remains unprofitable, while its sales multiple is 22.80. The net loss in the first quarter of fiscal year 2026 widened to $30.3 million, and the calculated gross margin fell to approximately 21.1%. The average analyst target is $20.75 within a range of $19 to $22, and the average is close to the 52-week range high of $21.28. Therefore, justifying the valuation depends on continued revenue growth, margin improvement, and achieving 30 logical qubits in fiscal year 2026 followed by 100 logical qubits in 2028.