Xanadu Reports Q3 2026 Results, With $286M in Cash and Growing R&D Spending

At a glance

Canadian photonic quantum computing company Xanadu reported its third-quarter 2026 results. Revenue rose 32% from a year earlier to $1.31 million, while research and development spending grew to $25.56 million. The company holds about $286.47 million in cash.

Key points

1. 1

   Revenue growth came from contract deliveries under a U.S. DARPA quantum benchmarking program and milestones from commercial partners.

2. 2

   The bigger operating loss came from faster chip design runs, experimental silicon nitride wafer production, and new engineers.

3. 3

   A definitive $140 million interest-free loan from the Government of Canada will help fund a new manufacturing facility in Toronto without diluting shares.

4. 4

   Including a provisional $10 million DARPA extension and $232.8 million of available equity funding, the company says it has a combined capital base of $669 million.

Why it matters

This earnings report shows how much a quantum computing company earns and spends, and how much funding it has left.

Also reported by

• The Quantum InsiderXanadu Reports Revenue Growth as Photonic Partnerships and Government Support Expand