Here are the 10-Q quarterly reports from Quantum X Labs Inc. (QXL) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow QXL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full QXL filings page.
Quantum X Labs Inc. (QXL) reported interim results for the six months ended June 30, 2026, reflecting a major portfolio shift toward quantum technology and AI while its legacy digital advertising business contracts. Total assets rose to $31.2 million from $10.8 million, driven mainly by the March 2026 acquisition of Quantum X Labs Ltd. (Quantum Israel), which added goodwill of $14.3 million and in‑process R&D of $0.5 million.
From continuing operations, revenue declined to $646 thousand from $899 thousand, and the operating loss widened to $1.9 million from $1.1 million as general and administrative and R&D expenses increased. Despite this, QXL posted net income attributable to shareholders of $1.9 million, versus a $15.3 million loss a year earlier, mainly due to a $3.8 million gain on deconsolidation of CliniQuantum and the absence of prior‑year fair‑value losses on derivatives and discontinued operations.
Cash and cash equivalents improved to $2.4 million from $1.0 million, supported by a $1.4 million March 2026 private placement and $2.4 million of warrant exercises, offset by continued operating cash outflows. The company highlights a going‑concern uncertainty due to declining search‑segment revenues, past impairments and limited liquidity, despite recent financings and cost‑cutting measures. The Cortex digital content business was sold in 2025 and is presented as discontinued operations. Management also notes regional geopolitical risks around Israel but reports that customers are mainly in the U.S. and Europe.
Quantum X Labs Inc. reported unaudited results for the quarter ended March 31, 2026, showing a small business focused on quantum technology and digital advertising that is still losing money. Revenue from continuing operations was $353 thousand, down from $529 thousand a year earlier, while net loss attributable to shareholders narrowed to $605 thousand from $3.7 million. Total assets rose to $27.7 million, mainly because of the March 4, 2026 acquisition of Quantum X Labs Ltd. in Israel, which added $14.3 million of goodwill and $1.2 million of in-process R&D.
Cash and cash equivalents were $1.8 million as of March 31, 2026, against bank loans of about $1.4 million and an accumulated deficit of $46.7 million. Management explicitly states that declining revenues, continued losses and reliance on external financing raise substantial doubt about the company’s ability to continue as a going concern, even after raising $1.4 million in a March 2026 private placement and completing its Nasdaq uplisting and earlier 2025 financings.