Infleqtion, Inc. (INFQ) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 18, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the INFQ SEC filings page.
Infleqtion, Inc. (INFQ) reported $31.1M in revenue for fiscal year 2025. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 2 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Infleqtion turns modest revenue into a large operating loss, while financing inflows—not operations—funded FY2025 cash needs.
The cash-flow pattern points to a company using external capital to support investment: financing provided$416.0M while investing consumed$413.0M , and operations still used$24.1M . That combination means reported activity was funded primarily outside the operating engine rather than by customer-generated cash.
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The balance sheet combines short-term liquidity with long-term balance-sheet strain: a 3.2x current ratio contrasts with
Financial Health Signals
Infleqtion, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Infleqtion, Inc. scores 2.16, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($2.9B) relative to total liabilities ($323.9M). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Infleqtion, Inc. reported a net loss of $32.2M while operations used $24.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Infleqtion, Inc. generated $13.5M in revenue in Q2 2026. This represents an increase of 156.5% from the same quarter a year earlier. Against the prior quarter it is up 43.1%.
Infleqtion, Inc.'s EBITDA was -$28.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 203.4% from the same quarter a year earlier. Against the prior quarter it is up 10.1%.
Infleqtion, Inc. reported -$24.7M in net income in Q2 2026. This represents a decrease of 168.8% from the same quarter a year earlier. Against the prior quarter it is up 16.9%.
Cash & Balance Sheet
Infleqtion, Inc. held $59.3M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Infleqtion, Inc.'s gross margin was 16.0% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 3.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.8 percentage points.
Infleqtion, Inc.'s ROE was -4.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is up 0.8 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Infleqtion, Inc. invested $12.7M in research and development in Q2 2026. This represents an increase of 138.7% from the same quarter a year earlier. Against the prior quarter it is up 27.4%.
Not reported for Q2 2026.
Not reported for Q2 2026.
INFQ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $13.5M+156.5% | $9.5M | N/A | N/A | $5.3M | N/A | N/A | N/A |
| Cost of Revenue | $11.4M+147.2% | $7.4M | N/A | N/A | $4.6M | N/A | N/A | N/A |
| Gross Profit | $2.2M+219.6% | $2.5M | N/A | N/A | $678K | N/A | N/A | N/A |
| R&D Expenses | $12.7M+138.7% | $10.0M | N/A | N/A | $5.3M | N/A | N/A | N/A |
| SG&A Expenses | $19.8M+217.1% | $26.3M | N/A | $1.2M+1789094.2% | $6.3M+86345.4% | N/A | N/A | $69 |
| Operating Income | -$29.9M-186.8% | -$33.0M | N/A | -$7.3M-10549943.5% | -$10.4M-143911.1% | N/A | N/A | -$69 |
| EBITDA | -$28.9M-203.4% | -$32.1M | N/A | N/A | -$9.5M | N/A | N/A | N/A |
| Income Tax | $0 | $0 | N/A | N/A | $0 | $0 | N/A | N/A |
| Net Income | -$24.7M-168.8% | -$29.7M | N/A | -$33.4M-48383684.1% | -$9.2M-126953.9% | N/A | N/A | -$69 |
| EPS (Basic) | -$0.11+81.4% | -$0.25+39.0% | $0.47 | N/A | -$0.59 | -$0.41 | N/A | N/A |
| EPS (Diluted) | -$0.11 | -$0.25+39.0% | $0.47 | N/A | -$0.59 | -$0.41 | N/A | N/A |
| Diluted Shares (Avg) | 220M | 118M+701.8% | N/A | N/A | 16M | 15M+63.8% | N/A | N/A |
Not reported in any period shown, so not listed: Interest Expense.
INFQ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $641.5M+53.4% | $612.6M+358399.4% | $113.2M+71584.3% | $421.3M | $418.1M | $171K | $158K | N/A |
| Current Assets | $500.3M+30536.2% | $464.9M | $72.5M | $1.5M | $1.6M | N/A | $0 | N/A |
| Cash & Equivalents | $59.3M-32.5% | $84.7M | $11.7M | $1.1M | $87.8M | N/A | N/A | $0 |
| Short-Term Investments | $417.7M | $358.9M | $34.3M | $0 | $0 | N/A | N/A | $0 |
| Inventory | $5.8M | $4.9M | $4.3M | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $5.4M | $6.9M | $9.5M | N/A | N/A | N/A | N/A | N/A |
| Long-Term Investments | $104.8M | $125.1M | $17.2M | $0 | $0 | N/A | N/A | $0 |
| Goodwill | $9.3M | $9.3M | $9.3M | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $67.1M-89.1% | $27.4M-85.5% | $323.9M+74.8% | $459.2M | $615.2M | $189.2M | $185.3M | N/A |
| Current Liabilities | $53.5M+52007.8% | $23.6M+10803.6% | $23.0M+12334.6% | $36.7M | $103K | $216K | $185K | N/A |
| Non-Current Liabilities | $13.5M-97.8% | $3.8M-98.0% | $300.9M+62.5% | $422.6M | $615.0M | $189.0M | $185.1M | N/A |
| Total Equity | $574.4M+391.4% | $583.4M+408.6% | -$210.7M-13.8% | -$38.0M-141038.9% | -$197.1M-734198.3% | -$189.1M-963986.5% | -$185.2M | -$27K |
| Retained Earnings | -$287.9M-141884.3% | -$261.3M-372669.9% | -$233.5M-449709.3% | -$38.0M | -$203K | -$70K | -$52K | N/A |
Not reported in any period shown, so not listed: Long-Term Debt.
INFQ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $13.2M+578.6% | -$19.2M | -$8.2M | -$6.2M | -$2.8M | N/A | N/A | $0 |
| Depreciation & Amortization | $1.0M+11.1% | $948K+35.2% | N/A | N/A | $900K | $701K | N/A | N/A |
| Stock-Based Compensation | $12.1M+1469.1% | $8.3M+641.8% | N/A | N/A | $769K | $1.1M | N/A | N/A |
| Investing Cash Flow | -$41.2M-5868.1% | -$433.1M-106043.4% | $0 | -$411.9M | -$690K | -$408K | $0 | $0 |
| Financing Cash Flow | $4.0M-92.0% | $525.2M+153654.4% | $0 | $366.7M | $49.6M | -$342K | $0 | $0 |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
INFQ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.0%+3.2pp | 26.8% | N/A | N/A | 12.8% | N/A | N/A | N/A |
| Operating Margin | -220.5% | -349.1% | N/A | N/A | -197.3% | N/A | N/A | N/A |
| Net Margin | -182.4% | -314.1% | N/A | N/A | -174.1% | N/A | N/A | N/A |
| Return on Equity | -4.3% | -5.1% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -3.9%-1.7pp | -4.9% | N/A | -7.9% | -2.2% | N/A | N/A | N/A |
| Current Ratio | 9.34-6.5x | 19.74 | 3.16+3.2x | 0.04 | 15.89 | N/A | 0.00 | N/A |
| Debt-to-Equity | 0.12 | 0.05 | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.020.0x | 0.02 | N/A | N/A | 0.01 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Note: Shareholder equity is negative (-$210.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Where Infleqtion, Inc. Ranks
Frequently Asked Questions
What is Infleqtion, Inc.'s annual revenue?
Infleqtion, Inc. (INFQ) reported $31.1M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Infleqtion, Inc. profitable?
No, Infleqtion, Inc. (INFQ) reported a net income of -$32.2M in fiscal year 2025.
What is Infleqtion, Inc.'s gross margin?
Infleqtion, Inc. (INFQ) had a gross margin of 36.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Infleqtion, Inc.'s operating cash flow?
Infleqtion, Inc. (INFQ) recorded an outflow of $24.1M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Infleqtion, Inc.'s total assets?
Infleqtion, Inc. (INFQ) had $113.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Infleqtion, Inc.'s current ratio?
Infleqtion, Inc. (INFQ) had a current ratio of 3.16 as of fiscal year 2025, which is generally considered healthy.
What is Infleqtion, Inc.'s return on assets (ROA)?
Infleqtion, Inc. (INFQ) had a return on assets of -28.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Infleqtion, Inc.'s P/E ratio?
Infleqtion, Inc. (INFQ) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $2.9B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Infleqtion, Inc.'s price-to-sales ratio?
Infleqtion, Inc. (INFQ) trades at 91.7x sales, its market capitalization divided by revenue of $31.1M revenue, FY2025. The market capitalization is $2.9B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Infleqtion, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Infleqtion, Inc. (INFQ) held $63.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $24.1M over that year. Dividing the one by the other, the reported balance equals about 31 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Infleqtion, Inc.'s debt-to-equity ratio negative or not reported?
Infleqtion, Inc. (INFQ) has negative shareholder equity of -$210.7M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Infleqtion, Inc.'s Altman Z-Score?
Infleqtion, Inc. (INFQ) has an Altman Z-Score of 2.16, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
Are Infleqtion, Inc.'s earnings high quality?
Infleqtion, Inc. (INFQ) reported a net loss of $32.2M while operations used $24.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.