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
- 1:25Reverse splitMar 15, 200725 shares → 1
| Period | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Currency | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Revenue | $3.28M | $1.13M | $1.76M |
| YoY Growth | 190.6% | -35.9% | - |
| Cost of Revenue | $257K | $331K | $430K |
| Gross Profit | $3.03M | $798K | $1.33M |
| Gross Margin | 92.2% | 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 OS | 29.97M | 297.99M | 297.99M |
| EBITDA | -$45.48M | -$28.64M | -$22.09M |
| EBITDA Margin | -1385.5% | -2535.2% | -1253.5% |
| Period | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Currency | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| 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 |
| Period | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Currency | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| 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 |