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Infleqtion (INFQ) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 18, 2026 · Infleqtion (INFQ) Q2 2026 earnings results →
Q2 2026 Revenue up 156% year over year to $13.5M · 182¢ of every $1 of revenue lost · operating margin -220.5%
Infleqtion made $13.5M in Q2 2026 (+156% Y/Y): Service $10.4M, Product $3.2M. Operating margin -220.5%, net loss $24.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 18, 2026.
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Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $13.5M in Q2 2026, up 157% year over year and up 43% from the previous quarter. Service was the largest line at 77% of revenue. Service added $8.6M year over year (up 504%), 105% of the total change. Product declined 11%.
Gross margin was 16.0%, up 3.2 points from Q2 2025. Operating costs exceeded revenue by $29.9M, an operating margin of -220.5%. Operating expenses grew 189% against revenue growth of 157%. The quarter ended with a net loss of $24.7M, narrower than the previous quarter's $29.7M loss. Non-operating items added $5.2M, -21% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $13.2M. Non-cash charges added back $1.0M of depreciation and amortization and $12.1M of share-based compensation. Working capital and other items added $24.8M. Capital expenditures of $1.4M left free cash flow of $11.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 18, 2026 | $13.5M | +156% | -220.5% | −$24.7M | $13.2M |
| Q1 2026 | 10-Q | May 15, 2026 | $9.5M | +14% | -349.1% | −$29.7M | −$19.2M |
| Q4 2025 | 10-K | Mar 31, 2026 | $10.3M | — | -5.3% | −$35.5M | −$433K |
| Q3 2025 | 10-Q | Nov 12, 2025 | $7.3M | — | -99.6% | −$33.4M | −$1.1M |
| Q2 2025 | 10-Q | Aug 13, 2025 | $5.3M | — | -3.5% | $2.0M | −$758K |
| Q1 2025 | 10-Q | Jun 13, 2025 | $8.3M | — | -0.2% | −$18K | $0 |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- U.S. government — 60% of its revenue · Stated in 10-K (sentence) · source
About Infleqtion
As used in this Item 1, unless the context indicates or otherwise requires, the following terms have the following meanings: “ coherence ” refers to the ability of a quantum system to maintain a well-defined phase relationship between different states in a superposition (when qubits are in multiple states at the same time).
In its own words, from its 10-K, filed Mar 31, 2026.
Infleqtion against its Services-Computer Processing & Data Preparation peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +156% against the peers' median +6%. Operating margin: -220.5% against the peers' median 11.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| INFQ Infleqtion | Q2 2026 | $13.5M | +156% | -220.5% |
| ADP Automatic Data Processing | Q1 FY27 | $5.5B | +6% | 23.9% |
| DXC DXC Technology | Q2 FY27 | $3.0B | -4% | 6.2% |
| WDAY Workday | Q2 FY27 | $2.6B | +13% | 11.8% |
| TOST Toast | Q3 2026 | $2.0B | +21% | 8.3% |
| RDDT Reddit | Q3 2026 | $895M | +53% | 29.2% |
| VRSK Verisk Analytics | Q3 2026 | $809M | +5% | 45.2% |
| RNG RingCentral | Q3 2026 | $676M | +6% | 8.0% |
| PLTK Playtika Holding | Q3 2026 | $674M | -0.1% | 17.2% |
Source: Infleqtion 10-Q on SEC EDGAR · CIK 2007825 · Services-Computer Processing & Data Preparation
13F: who owns INFQ and who is buying
More on INFQ
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results