Infleqtion, Inc. · NYSE:INFQ
Infleqtion — Q2 2026 Earnings Presentation
24 slides from Infleqtion's earnings presentation, Aug 12, 2026
Slide 1: Q2 2026 Business & Financial Update
Q2 2026 Business & Financial Update August 12, 2026
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: One Neutral-Atom Platform
One Neutral-Atom Platform Multiple Paths to Commercial Value Systems Deployed Computing & Sensing Globally Revenue U.S. • U.K. • Japan • Australia Growing commercial traction 20 Years of Neutral-Atom 100s of quantum Innovation customers 248+ patents issued & pending Government • enterprise • 175+ ph
Slide 5: Q2 Business Highlights
Q2 Business Highlights $12.6M $100M 2027 Space Energy Record Dept of IQMP First Mover Commercial Revenue Commerce* Deployment Advantage Momentum 116% YoY growth Selected for 3 Dept Fault-tolerant America’s Application of Energy Genesis neutral-atom Quantum Space development 2026 outlook projects sys
Slide 6: Accelerating the Quantum Economy
Accelerating the Quantum Economy Governments are putting dates and dollars behind quantum U.S. Quantum Executive Orders Global momentum Up to £2B Government quantum investment Top Tech Priorities Quantum in top 6 defence spending priorities Mat Kinsella in the O val O ffice June 17, 2026 Infleq tio
Slide 7: Roadmap Validation, Accelerating Deployment
Roadmap Validation, Accelerating Deployment Commerce Executive Order Independent Validation Federal actions and deadlines Selected after technical review of our Computing • Sensing • Supply Chain technology and roadmap Now It’s About Execution 7 | 2026 Infleq tion. All rights reserved
Slide 8: The Infleqtion Advantage
The Infleqtion Advantage Neutral-Atom Complete Systems Deployment Technology & Software Experience Identical qubits by nature Hardware • Controls • Software More than a decade operating Optical control Designed as an integrated quantum systems Reconfigurable arrays system in demanding environments F
Slide 9: The Neutral-Atom Advantage
The Neutral-Atom Advantage Efficient operating profile across footprint, power, and cost Nature Made Qubits Flexible Architecture Efficient Path to Commercial Scale Large atom arrays Low power Identical by nature Reconfigurable geometry Compact footprint Common optional control Lower system complexi
Slide 10: From Neutral Atoms to Complete Quantum Systems
From Neutral Atoms to Complete Quantum Systems Applications Customer workloads Software Full-System Optimization Superstaq • compilation • optimization From qubits to applications Controls Orchestration • calibration Built to Integrate With the computing environments Quantum Hardware customers alrea
Slide 11: Deployment Experience Sets Us Apart
Deployment Experience Sets Us Apart In Space Under the Sea In the Sky On the Ground International Royal Navy BAE + QinetiQ Safran Space Station Excalibur Indiana → Illinois Technology operating Optical atomic clock Quantum navigation Precision timing across since 2018 demonstrated on flight demonstr
Slide 12: Advancing the Computing Roadmap
Advancing the Computing Roadmap: Performance • Deployment • Adoption Performance Deployment Adoption 30 logical qubits Illinois quantum computer Eaton selects Infleqtion On track for 2026 Delivery planned for 2027 Multi-year, multi-million- dollar program + Integrated with NVIDIA NVQLink U.S. grid r
Slide 13: Advancing the Sensing Portfolio
Advancing the Sensing Portfolio: Space • Spectrum • AI • Timing QGG / Gravity Quantum Spectrum QuIRC Tiqker Developing the first-ever New RF sensing AI for complex sensor Data Commercializing Now quantum gravity sensor to architecture orbit Co-selling with Safran global Critical-minerals application
Slide 14: Building Infleqtion to Scale
Building Infleqtion to Scale Technical Talent Leadership Depth Innovation Capacity +25% Dr. Joe Buck Chicago • Oxford • Louisville Headcount growth SVP, Quantum Computing Systems Expanded R&D and since January 2026 manufacturing capacity 23+ years at Lockheed Martin Most in technical roles Neutral-a
Slide 15: Q2 2026 Financial Results & Outlook
Q2 2026 Financial Results & Outlook
Slide 16: Q2'26 Financial Recap: All quantum, all organic
Q2’26 Financial Recap: All quantum, all organic Total Revenue ($ in millions) +116% 12.6 5.8 Q2’25 Q2’26 • Growth led primarily by NASA QGG • ~92% Q2 revenue from U.S. (80% from U.S. government and agencies) 16 | 2026 Infleq tion. All rights reserved
Slide 17: Q2'26 Financial Recap: All quantum, all organic
Q2’26 Financial Recap: All quantum, all organic Total Revenue Non-GAAP Operating Loss ($ in millions) ($ in millions) +116% Q2’25 Q2’26 (7.3) (2.0) (0.8) (17.0) 12.6 (1.6) (12.1) 5.8 N-G Operating Loss SBC Q2’25 Q2’26 1x Deal/Other • Growth led primarily by NASA QGG • Non-GAAP operating expenses +$1
Slide 18: Q2'26 Financial Recap: All quantum, all organic
Q2’26 Financial Recap: All quantum, all organic Total Revenue Non-GAAP Operating Loss Operating Cash Burn ($ in millions) ($ in millions) ($ in millions) +116% Q2’25 Q2’26 Q2’25 Q2’26 (7.3) 50.1 (2.0) (0.8) (17.0) 13.2 (2.8) 12.6 (1.6) (0.7) (36.3) (12.1) 5.8 (1.4) N-G Operating Loss SBC Operating C
Slide 19: Long-Term Perspective
Long-Term Perspective 2026 2027 Long Term Model Accelerating Activity Visibility Improving Operating Leverage More customer activity Greater visibility into ‘27 revenue Revenue scales faster than costs The opportunity is large, and we are investing to win 19 | 2026 Infleq tion. All rights reserved
Slide 20: Upcoming Conferences, Speaking Engagements & Events
Upcoming Conferences, Speaking Engagements & Events Aug 18 Aug 26 Sep 9 Sep 15 Sep 13–17 Sep 14–16 Sep 23–25 Nov 15–20 Piper Sandler Quantum Rosenblatt Jefferies Citi TMT IEEE Quantum Air, Space & Supercomputing Growth World Conference Technology Conference Week Cyber Frontiers Congress Virtual Chic
Slide 21: 21 | 2026 Infleq tion. All rights reserved
21 | 2026 Infleq tion. All rights reserved
Slide 22: Non-GAAP Reconciliation
Three Months ended June 30, Three Months ended June 30, 2026 2025 2026 2025 Cost of Revenue $ 11,244 $ 4,820 Loss from operations $ (30,636) $ (10,073) Adjustments: Adjustments: Stock-based compensation 1,821 109 Stock-based compensation 12,066 769 Acquisition and integration costs - - Acquisition a
Slide 23: 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 23 | 2026 Infleqtion. All rights reserv ed
Slide 24: Trusted Quantum Partner To Leading Organizations
Trusted Quantum Partner To Leading Organizations State of Illinois Leading partners across diverse industries Infleqtion has sold hundreds of quantum cores through sensors & computing systems and many more… Sophisticated customers are selecting Infleqtion 24 | 2026 Infleqtion. All rights reserv ed