NASDAQ : XNDU
Xanadu Quantum Technologies Limited — Financial statements
Technology · Software - Infrastructure · Canada
Last price 2.89 USD (Oct 30, 2026, 3:08 PM EDT) · Market cap 879.96M
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Financial statements
Xanadu Quantum Technologies Limited (XNDU) reported revenue of 7.21M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | 7.21M | 4.62M | 1.59M | 2.48M |
| Cost of Revenue | 491.00K | 361.00K | 466.00K | 605.00K |
| Gross Profit | 6.71M | 4.26M | 1.12M | 1.87M |
| Selling, General & Admin | 34.32M | 16.61M | 7.91M | 6.64M |
| Research & Development | 69.64M | 55.24M | 39.22M | 35.72M |
| Other Operating Expenses | -9.52M | -4.11M | -287.00K | -2.52M |
| Operating Expenses | 101.00M | 73.58M | 51.72M | 43.57M |
| Operating Income | -94.29M | -69.32M | -50.60M | -41.70M |
| Interest Expense | -851.00K | -851.00K | -552.00K | -282.00K |
| Interest & Investment Income | 3.29M | 2.06M | 5.22M | 6.79M |
| Other Non Operating Income (Expenses) | -4.46M | -2.55M | -42.00K | -402.00K |
| Pretax Income | -105.98M | -70.67M | -45.97M | -35.59M |
| Net Income | -105.98M | -70.67M | -45.97M | -35.59M |
| Net Income to Common | -105.98M | -70.67M | -45.97M | -35.59M |
| Shares Outstanding (Basic) | 70.36M | 4.94M | 4.92M | 4.89M |
| Shares Outstanding (Diluted) | 70.36M | 4.94M | 4.92M | 4.89M |
| EPS (Basic) | -1.51 | -14.29 | -9.35 | -7.27 |
| EPS (Diluted) | -1.51 | -14.29 | -9.35 | -7.27 |
| Free Cash Flow | -79.56M | -74.22M | -46.50M | -38.45M |
| Free Cash Flow Per Share | -1.13 | -15.01 | -9.46 | -7.86 |
| Gross Margin | 93.19% | 92.18% | 70.67% | 75.59% |
| Operating Margin | -1,308.69% | -1,501.45% | -3,184.14% | -1,682.01% |
| Profit Margin | -1,470.88% | -1,530.58% | -2,892.89% | -1,435.74% |
| Free Cash Flow Margin | -1,104.22% | -1,607.62% | -2,926.62% | -1,550.95% |
| EBITDA | -87.72M | -63.47M | -45.73M | -37.97M |
| D&A For EBITDA | 6.57M | 5.85M | 4.87M | 3.73M |
| EBIT | -94.29M | -69.32M | -50.60M | -41.70M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Cash & Equivalents | 312.78M | 16.16M | 77.62M | 117.46M |
| Cash & Short-Term Investments | 312.78M | 16.16M | 77.62M | 117.46M |
| Accounts Receivable | 1.28M | 1.60M | 814.00K | 665.00K |
| Other Receivables | 2.15M | 6.06M | 445.00K | 786.00K |
| Receivables | 3.43M | 7.66M | 1.26M | 1.45M |
| Inventory | 10.93M | 12.02M | 9.04M | 2.97M |
| Prepaid Expenses | 2.97M | 2.55M | 2.45M | 1.74M |
| Other Current Assets | 1.10M | 1.82M | ||
| Total Current Assets | 331.22M | 40.21M | 90.37M | 123.62M |
| Property, Plant & Equipment | 42.61M | 25.26M | 22.87M | 24.38M |
| Other Intangible Assets | 4.95M | 5.13M | 3.53M | 2.98M |
| Total Assets | 384.01M | 70.60M | 116.77M | 150.98M |
| Accounts Payable | 1.54M | 2.80M | 1.65M | 420.00K |
| Accrued Expenses | 6.72M | 2.19M | 2.17M | 1.36M |
| Current Portion of Leases | 1.18M | 1.07M | 996.00K | 1.01M |
| Current Unearned Revenue | 3.53M | 1.04M | 309.00K | 39.00K |
| Other Current Liabilities | 1.87M | 258.00K | 270.00K | |
| Total Current Liabilities | 12.97M | 8.98M | 5.38M | 3.10M |
| Long-Term Debt | 32.41M | 30.00M | 16.01M | 6.81M |
| Long-Term Leases | 25.56M | 7.18M | 7.88M | 9.18M |
| Total Liabilities | 70.93M | 46.16M | 29.27M | 19.08M |
| Common Stock | 566.17M | 7.58M | 7.40M | 7.29M |
| Additional Paid-In Capital | 17.03M | 10.15M | 5.94M | 3.06M |
| Retained Earnings | -270.37M | -206.30M | -135.64M | -89.67M |
| Comprehensive Income & Other | 246.00K | 9.00K | -3.21M | -1.78M |
| Total Common Equity | 313.07M | -188.56M | -125.51M | -81.10M |
| Shareholders' Equity | 313.07M | 24.44M | 87.50M | 131.90M |
| Total Liabilities & Equity | 384.01M | 70.60M | 116.77M | 150.98M |
| Total Debt | 59.15M | 38.26M | 24.88M | 16.99M |
| Net Cash (Debt) | 253.63M | -22.09M | 52.74M | 100.47M |
| Net Cash Per Share | 3.60 | -4.47 | 10.72 | 20.53 |
| Filing Date Shares Outstanding | 304.39M | 298.51M | 4.92M | 4.89M |
| Total Common Shares Outstanding | 304.22M | 4.96M | 4.92M | 4.89M |
| Working Capital | 318.25M | 31.24M | 84.98M | 120.53M |
| Book Value Per Share | 1.03 | -38.02 | -25.49 | -16.58 |
| Tangible Book Value | 308.13M | -193.69M | -129.04M | -84.08M |
| Tangible Book Value Per Share | 1.01 | -39.05 | -26.20 | -17.18 |
| Machinery | 28.41M | 27.96M | 21.26M | 19.12M |
| Leasehold Improvements | 3.88M | 3.64M | 2.87M | 2.85M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Net Income | -105.98M | -70.67M | -45.97M | -35.59M |
| Depreciation & Amortization | 7.51M | 6.74M | 5.68M | 4.52M |
| Other Amortization | 9.00K | 135.00K | 159.00K | |
| Stock-Based Compensation | 8.34M | 4.02M | 2.89M | 2.21M |
| Other Operating Activities | 14.76M | 2.47M | 938.00K | 578.00K |
| Change in Accounts Receivable | -2.17M | -8.00M | 47.00K | 91.00K |
| Change in Inventory | 2.19M | -4.88M | -3.19M | -11.00K |
| Change in Accounts Payable | 134.00K | 1.04M | 1.27M | 165.00K |
| Change in Unearned Revenue | 3.24M | 697.00K | 308.00K | -713.00K |
| Change in Other Net Operating Assets | 658.00K | 537.00K | -3.85M | -950.00K |
| Operating Cash Flow | -71.30M | -68.05M | -41.74M | -29.55M |
| Capital Expenditures | -8.26M | -6.18M | -4.77M | -8.90M |
| Sale of Property, Plant & Equipment | 449.00K | |||
| Sale (Purchase) of Intangibles | -1.88M | -2.68M | -1.91M | -1.52M |
| Investing Cash Flow | -10.13M | -8.86M | -6.67M | -9.97M |
| Long-Term Debt Issued | 12.11M | 9.21M | 6.71M | |
| Long-Term Debt Repaid | -2.51M | |||
| Net Debt Issued (Repaid) | 9.53M | 12.11M | 9.21M | 4.20M |
| Issuance of Common Stock | 331.26M | 124.00K | 82.00K | 115.00K |
| Financing Cash Flow | 340.80M | 12.24M | 9.29M | 4.31M |
| Foreign Exchange Rate Adjustments | 2.82M | 3.22M | -723.00K | 668.00K |
| Net Cash Flow | 262.19M | -61.45M | -39.84M | -34.54M |
| Free Cash Flow | -79.56M | -74.22M | -46.50M | -38.45M |
| Free Cash Flow Margin | -1,104.22% | -1,607.62% | -2,926.62% | -1,550.95% |
| Free Cash Flow Per Share | -1.13 | -15.01 | -9.46 | -7.86 |
| Levered Free Cash Flow | -47.41M | -49.75M | -34.21M | |
| Unlevered Free Cash Flow | -46.88M | -49.22M | -34.00M | |
| Change in Working Capital | 4.06M | -10.61M | -5.42M | -1.42M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Last Close Price | 2.89 | 10.77 | ||
| Debt / Equity Ratio | 0.19 | 1.56 | 0.28 | 0.13 |
| Net Debt / Equity Ratio | -0.81 | 0.90 | -0.60 | -0.76 |
| Net Debt / EBITDA Ratio | 2.89 | -0.35 | 1.15 | 2.65 |
| Net Debt / FCF Ratio | 3.19 | -0.30 | 1.13 | 2.61 |
| Asset Turnover | 0.03 | 0.05 | 0.01 | |
| Inventory Turnover | 0.04 | 0.03 | 0.08 | |
| Quick Ratio | 24.38 | 2.65 | 14.65 | 38.41 |
| Current Ratio | 25.54 | 4.48 | 16.78 | 39.93 |
| Return on Equity (ROE) | -56.37% | -126.26% | -41.90% | |
| Return on Assets (ROA) | -24.37% | -46.25% | -23.62% | |
| Return on Capital Employed (ROCE) | -25.40% | -112.50% | -45.40% | -28.20% |
| Buyback Yield / Dilution | -132.06% | -0.56% | -0.50% |