IQM Quantum Computers Reports First Earnings as Public Company, Reporting First Half and Second Quarter 2026 Results, and Initiates FY 2026 Guidance Supported by Over EUR 102 million Order Backlog
Rhea-AI Summary
IQM Quantum Computers (Nasdaq: IQMX) reported its first results as a public company for the first half of 2026. Total revenues for the six months ended June 30, 2026 were EUR 8.9 million, with an operating loss of EUR 60.5 million. Order backlog was EUR 69.1 million at June 30, 2026, and increased by EUR 33.0 million to exceed EUR 102.1 million by August 3, 2026. IQM reported a cash balance of EUR 309.4 million as of July 2, 2026, including listing proceeds, which the company said provides runway into the second quarter of 2028.
For full-year 2026, IQM targets new order intake of EUR 65–75 million and revenue of EUR 42–47 million. Since founding, 26 full-stack quantum computers have been sold and 17 delivered globally. The company highlighted more than EUR 40 million invested to double cleanroom capacity, new market entries in Japan and Spain, and collaborations with partners including CSC, NVIDIA, HPE and Oak Ridge National Laboratory.
Positive
- Order backlog >EUR 102.1 million after EUR 33.0 million added post-June 30, 2026
- Cash balance EUR 309.4 million as of July 2, 2026, including listing proceeds
- Full-year 2026 revenue guidance of EUR 42–47 million issued
- New order intake target of EUR 65–75 million for full-year 2026
- More than EUR 40 million invested to double proprietary fab cleanroom capacity
- 26 full-stack quantum computers sold, with 17 delivered to customers globally
Negative
- Operating loss EUR 60.5 million for the six months ended June 30, 2026
News Explained
The release clarifies that the
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 22 | earnings scheduling | Neutral | -4.0% | Results-release scheduling notice preceded a negative 24-hour reaction. |
| Jul 20 | technical collaboration | Positive | +0.9% | Deutsche Bahn collaboration demonstrated railway scheduling using real operational data. |
| Jul 16 | warrant registration | Negative | -12.9% | Warrant exercise registered 577,237 new shares and increased total shares outstanding. |
| Jul 14 | insider incentive | Positive | +7.3% | Board member received 11,383 shares as a share-based incentive. |
| Jul 14 | insider incentive | Positive | +7.3% | Board member received 11,383 shares as a share-based incentive. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Historical reactions were mixed, with four aligned moves and one divergence across recent company news.
Key Terms
order backlog financial
dual listing financial
qldpc error correction codes technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
IQM Quantum Computers Plc, Stock Exchange Release, Half year financial report August 4, 2026 at 08:00 (EEST)
ESPOO, FINLAND | August 4, 2026 | IQM Quantum Computers Plc (Nasdaq: IQMX) (“IQM”, “IQM Quantum Computers” or the “Company”), a global leader in full-stack superconducting quantum computers, today announced its financial results for the first half and second quarter of 2026, ended on June 30, 2026.
First Half and Year to Date 2026 Financial Highlights
- Order backlog of EUR 69.1 million as of June 30, 2026
- EUR 33.0 million added to backlog since June 30, 2026, bringing total order backlog to over EUR 102.1 million as of August 3, 2026
- Total revenues for the six months ended June 30, 2026, were EUR 8.9 million
- Operating loss for the six months ended June 30, 2026, was EUR 60.5 million
- Cash Balance of EUR 309.4 million as of July 2, 2026, inclusive of listing proceeds
- 2026 Financial Outlook:
- Full-Year New Order Intake Target: EUR 65 million to EUR 75 million
- Full-Year 2026 Revenue Target: EUR 42 million to EUR 47 million
First Half and Year to Date 2026 Operational Highlights
- Expansion into several new markets, including Japan and Spain, through new customer wins and customer engagements
- 17 systems in total delivered globally to customers since founding, with 26 total systems sold
- Notably, first US delivery to US Department of Energy's Oak Ridge National Laboratory in Tennessee in June 2026
- Strong new sales momentum with a landmark deal announced with CSC, where IQM was selected to integrate a quantum computer into the LUMI AI Factory, connected to one of the world’s leading supercomputers
- Concrete use-cases exploration with Deutsche Bahn that demonstrated a hybrid quantum-classical railway scheduling solution using real operational data on today's IQM hardware
- Significant advancements in error correction, first introducing tile codes and further refining them with the "barbell codes"—a novel family of qLDPC error correction codes customized for the IQM Constellation topology, showing strong improvement in efficiency
- More than EUR 40 million investment into industrial expansion of our proprietary fab, doubling cleanroom capacity to enable the production of up to 30 full-stack quantum computers per year
- Key ecosystem partnerships and collaborations including with NVIDIA, conducting AI-driven parallel qubit calibration using the NVIDIA Ising open family of AI models, helping automate system tuning and improve system uptime
- Collaboration with HPE including integrating IQM’s superconducting quantum computers with HPE Cray HPC infrastructure for hybrid enterprise environments
- Significantly strengthened and expanded board with independent industry professionals as board members
- Expanded management team with experienced key new hires, including CTO, COO and promoting Chief Scientist
- Hosted successful inaugural Capital Markets Day in June 2026. Materials are available on IQM’s website - Link
"Our public debut marks a historic milestone, demonstrating how technology leadership can capture global capital to transition quantum computing from research excellence into customer-ready computing infrastructure. IQM is operating from a position of verified commercial scale with 26 full-stack quantum computers sold, 17 delivered globally, and proven integration directly alongside AI supercomputers and high-performance data centers. As we execute our product roadmap and scale toward fault-tolerant quantum computing, our focus remains squarely on operational discipline, delivering real-world value, and strengthening our proposition as the partner of choice for sovereign and enterprise compute infrastructure," said Dr. Jan Goetz, CEO.
"Our successful dual listing has fundamentally transformed our balance sheet, establishing a cash position of EUR 309.4 million that provides a robust financial runway well into the second quarter of 2028. Supported by strong commercial momentum, with our total order backlog surpassing EUR 102.1 million, we are confirming our full-year 2026 plan, with the momentum providing us confidence in our guidance. We are well-capitalized to strategically deploy cash into expanding our internal manufacturing capacity, accelerating on-premise system deliveries, and building long-term, sustainable market leadership in global quantum infrastructure,” said Jan Kuerschner, CFO.
This release contains a summary of IQM Quantum Computers Oyj’s financial results for the first half and second quarter of 2026. The summary focuses on group-level financial information and the Company’s outlook. Detailed financial information and notes are available in the financial report accompanying this release and on the Company's website at https://investors.iqm.tech/. We encourage investors to review the tables and notes in the full report as well.
Conference Call and Webcast
IQM will host a conference call today, August 4, 2026, at 8:00 AM EDT to discuss its second quarter and first half 2026 financial results and full-year 2026 outlook.
You can listen to a live audio webcast of the conference call at https://edge.media-server.com/mmc/p/k7j4grx5 or the "Events & Presentations" section of the Company's Investor Relations website at https://investors.iqm.tech/. A replay of the conference call will be available at the same locations following the conclusion of the call for one year.
About IQM Quantum Computers
IQM Quantum Computers (Nasdaq: IQMX) is a global leader in superconducting quantum computers, delivering full-stack quantum systems and cloud platform access to enterprises, research institutions, universities, high-performance computing centers, and national laboratories worldwide. IQM’s on-premises deployment model gives customers direct ownership and control of their quantum infrastructure. Founded in 2018 and headquartered in Finland, with major operations in Munich, IQM employs over 400 people and operates across Europe, Asia, and North America. IQM is the first publicly listed European quantum company on the Nasdaq Stock Market.
Contacts
Media contact:
Michael Bruce
PR Manager
press@iqm.tech
Investor contact:
Blair Robertson
Vice President, Strategy & Corporate Development
Investor Relations Officer
investors@iqm.tech
Key Operating Metrics
In addition to the measures presented in our consolidated financial statements, we use Order Backlog and Order Intake as indicators of future revenues from existing signed orders. This approach provides management with a transparent bridge from confirmed orders to revenue, linking sales performance with revenue realization, while remaining consistent with the external definition of backlog as confirmed, not yet recognized orders. We believe these metrics provide useful information for the market to understand and evaluate our results of operations in the same manner as our management team. Order Backlog represents the value of binding customer orders that have been confirmed but not yet recognized as revenue at a point in time. We calculate Order Backlog as the point in time balance of Order Intake less recognized revenue. Order Intake represents the total monetary value of binding customer orders signed during the period, excluding pipeline or expected orders, and reflects new business secured and future revenue generation. These metrics are presented for supplemental informational purposes only, should not be considered substitutes for financial information presented in accordance with IFRS Accounting Standards, and may differ from similarly titled metrics or measures presented by other companies. In this release, we have provided our Order Backlog both as of June 30, 2026 and August 3, 2026. In future releases, we intend to only provide quarterly Order Backlog, and we do not undertake to provide post-quarter updated information.
Cautionary Language and Forward-Looking Statements
Certain statements herein that are not historical facts are forward-looking statements. These forward-looking statements may be identified by the use of terms and phrases such as “believe,” “expect,” “intends,” “outlook,” “may,” “will,” and other similar terms and phrases. Such forward-looking statements include, but are not limited to, statements regarding IQM’s strategies, future or anticipated market or competitive position, business plans and future performance, including IQM’s cash runway and outlook for the third quarter and full-year 2026. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by these forward-looking statements, including, but not limited to: A) expectations, plans, benefits or outlook related to our strategies, projects, programs, product launches, growth management, licenses, intellectual property, sustainability and other ESG targets, operational key performance indicators and decisions on market exits or expansions; B) expectations, plans or benefits related to future performance of our businesses (including the expected impact, timing and duration of potential global pandemics, geopolitical conflicts and the general or regional macroeconomic conditions on our businesses, our supply chain, the timing of market changes or turning points in demand and our customers’ businesses); C) expectations and targets regarding financial performance and results of operations, including market share, prices, net sales, order backlog, order intake, income, margins, cash flows, cost savings, the timing of receivables, operating expenses, provisions, impairments, tariffs, taxes, currency exchange rates, hedging, investment funds, inflation, product cost reductions, competitiveness, value creation, and revenue generation in any specific region; D) our ability to execute, expectations, plans or benefits related to transactions, investments and changes in organizational structure and operating model, including the expansion of our manufacturing and production capacity; E) expectations related to the commercialization and market acceptance of quantum technology and the timing and progress of product development; and F) other risks and uncertainties discussed in the “Risk Factors” section of IQM’s prospectus pursuant to Rule 424(b)(3) filed with the United States Securities and Exchange Commission (the “SEC”) on June 5, 2026, IQM’s prospectus approved by the Finnish Financial Supervisory Authority (the “FIN-FSA”) on 1 July 2026, and in other filings that IQM makes from time to time with the SEC or the FIN-FSA. These statements are based on management's best assumptions and beliefs in light of the information currently available to them. IQM anticipates that subsequent events and developments may cause its views to change. IQM specifically disclaims any obligation to update the forward-looking statements in this press release except as required by law. These forward-looking statements should not be relied upon as representing IQM’s views as of any date subsequent to the date hereof.
Financial statements tables and the full report attached.
Attachments
