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Xanadu Quantum Technologies Ltd (XNDU)

Xanadu Quantum Technologies Inc. specializes in the creation and delivery of photonic quantum computing solutions, encompassing both sophisticated hardware and versatile software platforms. Their hardware offerings include cloud-accessible "x-series" photonic quantum computers, which boast features such as programmable quantum gates and advanced photon-number resolving detectors. On the software front, Xanadu provides a suite of tools: Pennylane: A Python library for quantum programming that supports differentiable quantum programming, facilitating integration with machine learning frameworks and enabling the development of hybrid quantum-classical applications. Catalyst: Designed for just-in-time compilation, it optimizes quantum algorithms for enhanced performance. Lightning: A high-performance quantum simulator built for both CPU and GPU architectures, engineered to integrate seamlessly with Pennylane. The company ensures robust support for its users, offering extensive documentation, instructional tutorials, practical guides, and community-driven resources that cover areas like quantum machine learning, quantum chemistry simulations, and various other quantum computing applications. Users also gain access to collaborative opportunities and expert assistance from their team of quantum specialists. Xanadu targets a broad professional audience, including clients in the quantum computing, software development, and machine learning sectors, as well as advanced research and development professionals who utilize high-performance computing and quantum hardware. The company was established in 2016 and operates from its headquarters in Toronto, Canada.

Sector: Electronic Computers

Industry: Software - Infrastructure

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares logo

Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

NASDAQ:XNDUTechnology
Pre+1.87%$2.72
Close$2.67+12.18%AH$2.74-0.73%since
Mkt Cap$812.73M
Float20.68M
O/S304.39M
PM VOL153K sh
$ Vol≈$417K
RVOL1.48×
Inst Own20.0%
SI38.6%
Dilution
Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares logoNASDAQ:XNDUPre$2.72+1.87%
Financials Summary
Revenue$3.28M
Net Income-$50.24M
Total Assets$220.98M
Free Cash Flow-$1.94M
Debt & Equity
Equity 100%
Total Debt$0
Total Equity$210.92M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
  1. 1:25Reverse split
    Mar 15, 200725 shares → 1
Balance Sheet Details
Assets$220.98M
Liabilities$10.06M
Accounts Receivable$0
Accounts Payable$0
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
PeriodFY 2025FY 2024FY 2023
CurrencyUSDUSDUSD
Period Ending2025-12-312024-12-312023-12-31
Revenue$3.28M$1.13M$1.76M
YoY Growth190.6%-35.9%-
Cost of Revenue$257K$331K$430K
Gross Profit$3.03M$798K$1.33M
Gross Margin92.2%70.7%75.6%
Research and Development$39.27M$27.88M$25.39M
Selling, General, and Administrative$11.8M$5.63M$4.72M
Other$1.23M$3.26M$862K
Total Operating Expenses$52.31M$36.77M$30.98M
Operating Income (EBIT)-$49.28M-$35.97M-$29.64M
Operating Margin-1501.5%-3184.1%-1682.0%
Interest Expense$0$0$0
Interest Income$5.95M$0$0
Other Income (Expense)-$956K$3.29M$4.34M
Income Before Tax (EBT)-$50.24M-$32.68M-$25.3M
Income Tax Expense$0$0$0
Net Income-$50.24M-$32.68M-$25.3M
Net Income Margin-1530.6%-2892.9%-1435.7%
Supplementary Data
EPS-2.36-0.15-0.12
Diluted EPS-2.36-0.15-0.12
Weighted Average OS29.97M297.99M297.99M
EBITDA-$45.48M-$28.64M-$22.09M
EBITDA Margin-1385.5%-2535.2%-1253.5%
Balance Sheet
PeriodFY 2025FY 2024FY 2023
CurrencyUSDUSDUSD
Period Ending2025-12-312024-12-312023-12-31
Assets
Current Assets
Cash and Cash Equivalents$261K$55.18M$83.5M
Short-Term Investments$0$0$0
Cash and Short-Term Investments$261K$55.18M$83.5M
Accounts Receivable$0$895K$1.03M
Inventory$0$2.27M$8K
Other Current Assets$0$1.12M$1.17M
Total Current Assets$394K$64.24M$87.89M
Long-Term Assets
Property, Plant & Equipment Net$0$16.26M$17.33M
Goodwill$0$0$0
Intangible Assets$0$2.51M$2.12M
Long-Term Investments$220.55M$0$0
Deferred Tax Assets$0$0$0
Other Long-Term Assets$36K$0$0
Total Long-Term Assets$220.59M$18.77M$19.45M
Other Assets$0$0$0
Total Assets$220.98M$83.01M$107.34M
Liabilities
Current Liabilities
Accounts Payable$0$1.17M$299K
Short-Term Debt$0$0$0
Current Income Tax Payable$0$0$0
Current Unearned Revenue$0$220K$28K
Other Current Liabilities$1.48M$183K$192K
Total Current Liabilities$1.48M$3.83M$2.2M
Long-Term Liabilities
Long-Term Debt$0$11.38M$4.84M
Long-Term Unearned Revenue$8.58M$0$0
Long-Term Deferred Tax Liabilities$0$0$0
Other Long-Term Liabilities$0$0$0
Total Long-Term Liabilities$8.58M$16.98M$11.37M
Other Liabilities$0$0$0
Total Liabilities$10.06M$20.81M$13.57M
Stockholders' Equity
Preferred Stock$0$151.43M$151.43M
Common Stock$220.55M$5.26M$5.18M
Retained Earnings-$9.63M-$96.43M-$63.75M
Comprehensive Income & Other$0-$2.28M-$1.27M
Other Stockholders' Equity-$1$153.37M$152.34M
Total Equity$210.92M$62.2M$93.77M
Minority Interest$0$0$0
Total Liabilities and Equity$220.98M$83.01M$107.34M
Supplementary Data
Total Debt$0$17.69M$12.08M
Net Debt-$261K-$37.49M-$71.42M
Cash Flow Statement
PeriodFY 2025FY 2024FY 2023
CurrencyUSDUSDUSD
Period Ending2025-12-312024-12-312023-12-31
Operating Activities
Net Income$3.5M-$32.68M-$25.3M
Depreciation & Amortization$4.76M$4.04M$3.21M
Deferred Income Tax$0$0$0
Stock-Based Compensation$0$2.06M$1.57M
Changes in Working Capital:
  Accounts Receivable$0$33K$65K
  Inventory$0-$2.27M-$8K
  Accounts Payable$0$901K$117K
  Other Working Capital$553K-$2.52M-$1.77M
Total Working Capital Change$553K-$3.85M-$1.6M
Other Non-Cash Items-$10.75M$763K$1.11M
Net Cash from Operating-$1.94M-$29.67M-$21.01M
Investing Activities
Capital Expenditures$0-$3.39M-$6.33M
Acquisitions$0$0$0
Purchases of Investments-$214.6M$0$0
Sales of Investments$0$0$0
Other Investing Activities$0-$1.36M-$761K
Net Cash from Investing-$214.6M-$4.75M-$7.09M
Financing Activities
Debt Repaid$48K-$6.55M-$2.98M
Common Stock Issuance$216.17M$0$0
Common Stock Repurchases$0$0$0
Dividends Paid$0$0$0
Other Financing Activities$683K$58K$82K
Net Cash from Financing$216.8M$6.61M$3.07M
Forex Effect$0-$514K$475K
Net Change in Cash$261K-$28.32M-$24.55M
Supplementary Data
Operating Cash Flow-$1.94M-$29.67M-$21.01M
Capital Expenditure$0-$4.75M-$7.41M
Free Cash Flow-$1.94M-$34.42M-$28.41M
Cash at Beginning$0$83.5M$108.06M
Cash at End$261K$55.18M$83.5M