IQM Quantum Computers reported second-quarter 2026 revenue of EUR 8.9 million [1] during its first earnings call as a public company.
This financial disclosure follows the company's transition to the public market via a SPAC merger in July 2026 [6]. As a leader in full-stack superconducting quantum computers, the firm's ability to scale revenue against high operational costs is a key indicator for the broader quantum computing industry.
The company reported a gross margin of 46 percent [2] for the second quarter. However, it also recorded an operating loss of EUR 60.5 million [3] for the same period.
Despite the quarterly loss, the company highlighted a significant pipeline of future work. IQM reported an order backlog of over EUR 102 million [5]. This backlog supports the company's financial outlook as it navigates its early stages as a NASDAQ-listed entity.
IQM provided full-year 2026 revenue guidance of EUR 42 million [4]. The results were released and discussed during a webcast on Aug. 4, based in the company's headquarters in Espoo, Finland.
The report marks the first time the company has provided detailed financial transparency to shareholders since its IPO process. The firm continues to focus on the deployment of its superconducting hardware to global clients.
“IQM reported an order backlog of over EUR 102 million.”
The wide gap between IQM's quarterly revenue and its operating loss is typical for deep-tech firms in the quantum sector, where research and development costs far outweigh early commercial returns. However, the EUR 102 million backlog suggests strong market demand for superconducting quantum hardware, indicating that the company's primary challenge is converting its order pipeline into realized revenue while managing its burn rate.
