XNDU - Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares
Price:
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PRICE TARGET:
$44.00
DETAILS
HIGH:
$45.00
LOW:
$43.00
MEDIAN:
$44.00
CONSENSUS:
$44.00
UPSIDE:
328.02%
| Metric | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2024 Q4 | 2024 Q3 |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| Revenue | 2.8 | 1.9 | 1.0 | 0 | 0.7 | 0.5 |
| Cost of Revenue | 0.1 | 0.2 | 0.1 | 0 | 0.4 | 0.0 |
| Gross Profit | 2.7 | 1.7 | 0.9 | 0 | 0.3 | 0.4 |
| Operating Expenses | ||||||
| R&D Expenses | 17.3 | 16.9 | 15.3 | 0 | 8.8 | 8.8 |
| SG&A Expenses | 11.2 | 7.6 | 4.3 | 0.2 | 1.9 | 1.9 |
| Other Expenses | (2.5) | (2.5) | 2.1 | 0 | 1.3 | 1.2 |
| Operating Expenses | 26.0 | 22.0 | 21.6 | 0.2 | 12.0 | 11.9 |
| Operating Income | ||||||
| Operating Income | (23.3) | (20.3) | (20.7) | (0.2) | (11.7) | (11.5) |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 1.4 | 0 | 0 |
| Profitability | ||||||
| EBITDA | (18.8) | (21.2) | (18.6) | 1.2 | (9.4) | (9.2) |
| EBIT | (20.6) | (23.0) | (20.3) | 1.2 | (10.8) | (10.4) |
| Income Before Tax | (20.6) | (23.0) | (20.3) | 1.2 | (10.8) | (10.4) |
| Income Tax Expense | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Income | (20.6) | (23.0) | (20.3) | 1.2 | (10.8) | (10.4) |
| Per Share Data | ||||||
| EPS (Basic) | -0.69 | 0.02 | 0.09 | 0.06 | – | -0.04 |
| EPS (Diluted) | -0.69 | 0.02 | 0.09 | 0.06 | – | -0.04 |
| Shares Outstanding | 30.0 | 30.0 | 30.0 | 30.0 | 298.0 | 298.0 |
| Metric | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2024 Q4 |
|---|---|---|---|---|---|
| Current Assets | |||||
| Cash & Cash Equivalents | 272.5 | 0.4 | 36.1 | 1.5 | 77.6 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 3.7 | 0 | 1.6 | 0 | 1.3 |
| Inventory | 6.1 | 0 | 9.1 | 0 | 3.2 |
| Other Current Assets | 3.3 | 0 | 3.7 | 0 | 1.6 |
| Total Current Assets | 290.4 | 0.6 | 57.2 | 1.7 | 90.4 |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 23.8 | 0 | 25.4 | 0 | 22.9 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 4.8 | 0 | 4.8 | 0 | 3.5 |
| Long-Term Investments | 0 | 310.2 | 0 | 302.9 | 0 |
| Other Non-Current Assets | 0 | 0.0 | 0 | 0.1 | 0 |
| Total Non-Current Assets | 28.6 | 310.3 | 30.1 | 303.1 | 26.4 |
| Total Assets | 319.0 | 310.8 | 87.3 | 304.8 | 116.8 |
| Current Liabilities | |||||
| Account Payables | 2.9 | 0 | 2.8 | 0 | 1.7 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 5.8 | 0 | 1.5 | 0 | 0.3 |
| Other Current Liabilities | 7.2 | 2.1 | 1.1 | 0.2 | 0.3 |
| Total Current Liabilities | 20.2 | 2.1 | 10.7 | 0.2 | 5.4 |
| Non-Current Liabilities | |||||
| Long-Term Debt | 30.0 | 0 | 25.9 | 0 | 16.0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Liabilities | 36.8 | 12.1 | 33.2 | 12.0 | 23.9 |
| Total Liabilities | 57.1 | 14.2 | 43.9 | 12.3 | 29.3 |
| Stockholders' Equity | |||||
| Common Stock | 478.2 | 310.2 | 7.5 | 302.9 | 7.4 |
| Retained Earnings | (228.3) | (13.5) | (183.3) | (10.4) | (135.6) |
| Accumulated Other Comprehensive Income | (0.2) | 0 | (2.5) | 0 | (3.2) |
| Total Stockholders' Equity | 262.0 | 296.7 | 43.4 | 292.5 | 87.5 |
| Total Liabilities & Equity | 319.0 | 310.8 | 87.3 | 304.8 | 116.8 |
| Debt Metrics | |||||
| Total Debt | 37.9 | 0 | 34.3 | 0 | 24.9 |
| Net Debt | (234.6) | (0.4) | (1.8) | (1.5) | (52.7) |
| Metric | 2026 Q1 | 2025 Q4 | 2025 Q2 | 2024 Q4 |
|---|---|---|---|---|
| Operating Activities | ||||
| Net Income | (20.6) | 0.7 | 1.7 | (10.8) |
| Depreciation & Amortization | 1.8 | 0 | 0 | 1.4 |
| Stock-Based Compensation | 1.4 | 0 | 0 | 0.8 |
| Change in Working Capital | 12.0 | 1.0 | (0.2) | (3.5) |
| Other Non-Cash Items | (1.7) | (3.1) | (2.0) | 0.3 |
| Operating Cash Flow | (7.0) | (1.4) | (0.6) | (11.9) |
| Investing Activities | ||||
| Capital Expenditure | (0.5) | 0.0 | 0.0 | (2.4) |
| Acquisitions | 0 | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | (301.0) | 0 |
| Sales/Maturities of Investments | 0 | 0 | 0 | 0 |
| Other Investing Activities | (0.2) | 0 | 0 | (0.4) |
| Investing Cash Flow | (0.5) | 0 | (301.0) | (2.4) |
| Financing Activities | ||||
| Net Debt Issuance | 0.2 | 0 | (0.2) | 2.0 |
| Stock Repurchased | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 1.5 | (0.5) | 0.0 |
| Financing Cash Flow | 264.4 | 1.0 | 303.1 | 2.0 |
| Cash Position | ||||
| Net Change in Cash | 256.3 | (0.4) | 1.5 | (12.6) |
| Cash at Beginning | 16.2 | 0.8 | 0.0 | 90.2 |
| Cash at End | 272.5 | 0.4 | 1.5 | 77.6 |
| Free Cash Flow | (7.6) | (1.4) | (0.6) | (14.3) |
| Key Metrics | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2024 Q4 | 2024 Q3 |
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 2.8 | 1.9 | 1.0 | 0 | 0.7 | 0.5 |
| Gross Profit | 2.7 | 1.7 | 0.9 | 0 | 0.3 | 0.4 |
| Operating Income | (23.3) | (20.3) | (20.7) | (0.2) | (11.7) | (11.5) |
| Net Income | (20.6) | (23.0) | (20.3) | 1.2 | (10.8) | (10.4) |
| EPS (Diluted) | -0.69 | 0.02 | 0.09 | 0.06 | – | -0.04 |
| Balance Sheet | ||||||
| Cash & Equivalents | 272.5 | 0.4 | 36.1 | 1.5 | 77.6 | |
| Total Assets | 319.0 | 310.8 | 87.3 | 304.8 | 116.8 | |
| Total Debt | 37.9 | 0 | 34.3 | 0 | 24.9 | |
| Stockholders' Equity | 262.0 | 296.7 | 43.4 | 292.5 | 87.5 | |
| Cash Flow | ||||||
| Operating Cash Flow | (7.0) | (1.4) | (0.6) | (11.9) | ||
| Capital Expenditure | (0.5) | 0.0 | 0.0 | (2.4) | ||
| Free Cash Flow | (7.6) | (1.4) | (0.6) | (14.3) | ||