Infleqtion, Inc. · NYSE:INFQ
Infleqtion — Q1 2026 Earnings Presentation
31 slides from Infleqtion's earnings presentation, May 14, 2026
Slide 1: Q1’26 Conference Call
Q1’26 Conference Call May 14, 2026 investors@infleqtion.com 1 | 2026 Infleqtion. All rights reserved
Slide 2: Disclaimers and Forward-Looking Statements
Disclaimers and Forward-Looking Statements This presentation and the related webcast contain forward-looking statements. All statements other than statements of historical fact contained in this presentation and the related webcast are forward-looking statements, including but not limited to: statem
Slide 3: Disclaimers and Forward-Looking Statements (cont.)
Disclaimers and Forward-Looking Statements (cont.) Forward-looking statements represent Infleqtion management’s beliefs and assumptions only as of the date such statements are made. The Company does not undertake, and expressly disclaims any duty, to update any statements made in this presentation a
Slide 4: The Neutral-Atom Platform for the Quantum Era
The Neutral-Atom Platform for the Quantum Era 4 | 2026 Infleqtion. All rights reserved
Slide 5: Infleqtion at a Glance
INFLEQTION Infleqtion at a Glance IS BUILDING One core technology platform powers quantum computing, NEUTRAL-ATOM sensing, and software QUANTUM SYSTEMS FOR THE Nobel Prize Winning Hundreds of Quantum REAL WORLD Physics Customers engineered for Across government, enterprise and real-world systems res
Slide 6: Quantum Momentum
Quantum Momentum Multiple tailwinds are accelerating the industry The Deployment Era Neutral Atom ~$55B Global Government Leadership Quantum Investments Operational Quantum Commercial Ecosystem Systems Expansion Velocity The quantum market is maturing as quantum moves closer to useful applications 6
Slide 7: The Power of Neutral Atoms
The Power of Neutral Atoms Maintain high performance while shrinking systems to chip-scale Uniform by nature Controlled with light Reconfigurable Identical atoms create a repeatable foundation Optical control enables flexible trapping, Layouts can adapt to algorithms, missions, and for scalable syst
Slide 8: One Platform, Powered by Neutral Atoms
One Platform, Powered by Neutral Atoms Scalable to multiple applications and end markets Quantum Precision Quantum Inertial & Quantum Computing Timing Spectrum Gravity Sensing Software Atoms are organized into different structures for quantum applications 8 | 2026 Infleqtion. All rights reserved
Slide 9: Proven Across Real World Domains
Proven Across Real World Domains UNDER SEA IN SPACE IN THE SKY ON THE GROUND IN DATA CENTERS Optical quantum clock NQCC 100-qubit NVQLink, Royal Navy autonomous Cold Atom Lab on ISS flight trials operational system submarine quantum clock QGGPf gravity sensor CUDA-Q demo Aerospace timing mission Qua
Slide 10: Commercial and Strategic Momentum
Commercial and Strategic Momentum Financial Strength Compute Leadership Platform Leverage Field & Application Pull $569M 1,600 100 40× cash & equivalents demonstrated neutral- physical-qubit operational timing improvement over balance March 2026* atom sites system at NQCC GPS in live fiber demo $40M
Slide 11: Scaling Toward Commercially-Useful Logical Qubits
Scaling Toward Commercially-Useful Logical Qubits Through hardware and software innovation Hardware Leadership Logical Qubit Roadmap Commercial Deployment 2 On-Prem 1,600 99.73% 12 System Sales Atom Array 2Q Gate 2024 2025 Private Cloud Services Fidelity(1) Applications on Logical Qubits Commercial
Slide 12: Real World Deployments
Real World Deployments Delivered Quantum NVQLink Showcase First and Only 100 qubit machine Delivered Only foreign company selected for Moonshot program Planned 50+ Logical Qubit System anticipated 12 | 2026 Infleqtion. All rights reserved
Slide 13: Quantum Software Powers More Than Applications
Quantum Software Powers More Than Applications Software Innovation Designing with end users to run on: APPLICATION Energy • Sqale now (technology Application Healthcare development) and Layer ALGORITHM • Sqale at 100+ LQs (commercially- Material Science relevant) RESOURCE Compiles and optimizes quan
Slide 14: Evidence of our Execution and Innovation
Evidence of our Execution and Innovation Announcement Innovation APPLICATION Application Layer ALGORITHM RESOURCE Enable applications to estimate hardware requirements ESTIMATOR and dictate allocation of qubits1 Middleware Layer Compiler enabling individual applications to use multiple COMPILER qubi
Slide 15: Evidence of our Execution and Innovation
Evidence of our Execution and Innovation Announcement Innovation Quantum-inspired AI/ML to analyze high-volume data AI/ML APPLICATION QuIRC streams, reducing computational and storage requirements Application 2 Logical Qubits (materials science application) Layer QUANTUM 6 Logical Qubits (Shor’s Alg
Slide 16: Quantum Applications Emerging Across Critical Industries
Quantum Applications Emerging Across Critical Industries Commercial quantum workloads are gaining traction Emerging quantum Energy Sector Leadership applications Energy Dept of Energy Dept of Energy IQMP & NQAC AI Infrastructure ARPA-E ENCODE ARPA-E QC³ Materials Science Finance 1st ARPA-E quantum p
Slide 17: Quantum Inspired AI Today
Quantum Inspired AI Today Quantum-inspired AI running on classical infrastructure AI Infrastructure Quantum-Inspired Strategic High Value AI Challenge Models Customers Applications Conventional AI struggles CML models improve Navy QuIRC (RF signal processing) RF signal classification with noisy, dyn
Slide 18: Quantum Sensing: First Commercial Wave
Quantum Sensing: First Commercial Wave The Broadest Portfolio Optical clocks for GPS-independent Precision Timing >$30B time and synchronization 2040 sensing market Quantum Spectrum RF sensing for contested and congested electromagnetic environments Assured Positioning, Navigation & Timing Gravity S
Slide 19: Quantum Timing: First Quantum Infrastructure
Quantum Timing: First Quantum Infrastructure Tiqker Prime Tiqker-C Tiqker-HD/S Tiqker Blade Chip Scale Commercially available Radar Space Ready Data Center addressing legacy Critical Infrastructure National Security install base SWaP-C model drives adoption and more use cases 19 | 2026 Infleqtion. A
Slide 20: Deploying Quantum in Space
Deploying Quantum in Space Quantum Missions With Nasa JPL Cold Atom Lab on ISS NASA QGG PathFinder Infleqtion technology on orbit since 2018, upgraded in 2026 World’s first quantum gravity sensor mission in space Artemis II Astronaut Cold Atom Lab Launch & Delivery to ISS Christina Koch installing N
Slide 21: Trusted Quantum Partner To Leading Institutions
Trusted Quantum Partner To Leading Institutions State of Illinois Leading partners across diverse industries Infleqtion has sold hundreds of quantum cores through sensors & computing systems and many more… 21 | 2026 Infleqtion. All rights reserved
Slide 22: UK Government: up to £2B Quantum Commitment
UK Government: up to £2B Quantum Commitment Quantum Quantum Quantum Quantum Skills & Computing Sensing Networking Life Sciences Infrastructure • £1B procurement • £400m for sensing & • £125m quantum • £205m · diagnostics & • TechFirst: 100 funded program navigation networking medical applications in
Slide 23: Pioneering Team Building the Future of Quantum
Pioneering Team Building the Future of Quantum Dana Anderson Pranav Gokhale Paul Lipman Ilan Hart Matt Kinsella Chief Science Officer Chief Technology Officer Chief Revenue Officer Chief Financial Officer Chief Executive Officer Founder Co-founder Founding Investor Karl Pendergast Mark Saffman Jim C
Slide 24: The Infleqtion Advantage
The Infleqtion Advantage Scalable architecture for commercial Neutral-Atom Leadership quantum systems Computing, Timing, Spectrum, Sensing & >$160B One Platform, Multiple Markets Software from one platform 2040 TAM quantum computing + sensing Deployed Quantum Systems Across land, sea, sky, space, an
Slide 25: Q1 Results
Q1 Results 25 | 2026 Infleqtion. All rights reserved
Slide 26: Q1’26 Financial Recap: All quantum, all organic
Q1’26 Financial Recap: All quantum, all organic Net Revenue ($ in millions) +14% 8.3 9.5 Q1’25 Q1’26 • Growth led by NASA QGG & Quantum Spectrum • ~70% Q1 revenue from U.S. 26 | 2026 Infleqtion. All rights reserved
Slide 27: Q1’26 Financial Recap: All quantum, all organic
Q1’26 Financial Recap: All quantum, all organic Net Revenue Non-GAAP Operating Loss ($ in millions) ($ in millions) +14% Q1’25 Q1’26 (5.8) (1.1) (13.2) 8.3 9.5 (12.1) (8.3) N-G Operating Loss SBC Q1’25 Q1’26 1x Deal/Other • Growth led by NASA QGG & Quantum • Non-GAAP operating expenses +$7M YoY Spec
Slide 28: Q1’26 Financial Recap: All quantum, all organic
Q1’26 Financial Recap: All quantum, all organic Net Revenue Non-GAAP Operating Loss Operating Cash Burn ($ in millions) ($ in millions) ($ in millions) +14% Q1’25 Q1’26 Q1’25 Q1’26 (5.8) 92.5 (1.1) (13.2) (7.0) 8.3 9.5 (12.1) (0.4) (19.2) (8.3) (0.3) N-G Operating Loss SBC Operating Cashflow Capex Q
Slide 29: Cost of Revenue
Three Months ended March 31, Three Months ended March 31, 2026 2025 2026 2025 Cost of Revenue $ 7,470 $ 4,926 Loss from operations $ (33,575) $ (6,950) Adjustments: Adjustments: Stock-based compensation 1,017 92 Stock-based compensation 8,293 1,118 Acquisition and integration costs - Acquisition and
Slide 30: Upcoming Conferences, Speaking Engagements, & Events
Upcoming Conferences, Speaking Engagements, & Events May 19 May 21 June 1-5 June 2 June 10-12 June 16-17 July 21-23 JP Morgan Canaccord Evercore Quantum Economist Global Quantum American Global TMT Virtual Quantum Global TMT Fringe Impact Forum Physical Society Conference Symposium Conference Commer
Slide 31: | 2025
31 | 2025 Infleqtion. All rights reserved