Finnish superconducting quantum computing company IQM Quantum Computers (Nasdaq: IQMX) has posted its first earnings report as a public company, with H1 2026 revenue rising 47% year-on-year to EUR 8.9 million and its order backlog jumping to more than EUR 102.1 million by 3 August.
Cash runway into 2028
Operating loss for the six months to 30 June 2026 was EUR 60.5 million, offset by a EUR 309.4 million cash balance that includes proceeds from IQM's June IPO on Nasdaq. CFO Jan Kuerschner said the balance provides financial runway "well into the second quarter of 2028" as IQM invests more than EUR 40 million to double cleanroom capacity for up to 30 full-stack quantum computers a year.
17 systems delivered, first US install at Oak Ridge
IQM says it has sold 26 full-stack quantum computers and delivered 17 globally since founding. Highlights in the first half included a first US delivery to the US Department of Energy's Oak Ridge National Laboratory in Tennessee, a landmark deal with Finland's CSC to integrate an IQM system into the LUMI AI Factory, and hybrid quantum-classical railway scheduling pilots with Deutsche Bahn.
Full-year guidance
IQM confirmed full-year 2026 revenue guidance of EUR 42-47 million and new order intake of EUR 65-75 million. CEO Jan Goetz called the results proof that "technology leadership can capture global capital to transition quantum computing from research excellence into customer-ready computing infrastructure." The debut comes as peers including IonQ and Xanadu also reported Q2 results this week.
Reporting based on coverage from GlobeNewswire, Quiver Quantitative and IQM Quantum Computers.