IQM Quantum Computers reported Q3 revenue of EUR 8.9 million, a 51% increase year-over-year, driven by a growing order backlog now totaling EUR 102.5 million, up 52% since the start of the year. New orders reached EUR 42.2 million during the quarter, with a significant contribution from the LUMI-IQ Halocene project.
“Q3 was a quarter of strong commercial momentum,” said Dr. Jan Goetz, Co-Founder and Chief Executive Officer, “with record new orders booked, our largest contract to date signed, and an expanded presence across four continents.” The company currently holds EUR 260.4 million in cash and cash equivalents.
51% Q3 Revenue Growth Driven by EUR 8.9 Million in Quantum Gains
IQM Quantum Computers secured new orders totaling EUR 42.2 million during the third quarter, a key driver in the company’s financial performance and a signal of increasing commercial traction for superconducting quantum technology. This influx of orders, largely attributed to the LUMI-IQ Halocene project, propelled the year-to-date order intake to EUR 52.9 million, demonstrating sustained demand for IQM’s systems.
The company’s order backlog reached EUR 102.5 million at the end of September, reflecting a 52% increase since the beginning of the year and providing a solid foundation for future revenue. The financial results reveal a 51% year-over-year increase in Q3 revenue, reaching EUR 8.9 million, a figure entirely derived from commercial contracts without reliance on public funding or grants.
To date, 31 quantum computers sold globally, 17 delivered, 17 in production. The company’s expansion also reached a fourth continent, with the first quantum computer sale in South America, an IQM Spark system for the Eldorado Research Institute in Brazil.
This expansion complements a second full-stack quantum computer sale to TOYO Corporation in Japan, supporting the nation’s goal of ten million quantum users by 2030. IQM’s commitment to advancing quantum error correction is evident in the first order for its Halocene platform, a EUR 33 million contract with CSC’s LUMI AI Factory.
This system is projected to become Europe’s first superconducting quantum computer with logical qubits, an important step toward fault-tolerant quantum computation. Dr. Goetz stated, “For years, the open question was whether quantum computers could work at all. Today, it is whether they can be built, delivered and operated at the pace the world needs them, and that is exactly what IQM was built for.” The company concluded the quarter with EUR 260.4 million in cash and cash equivalents, providing a robust financial position to support ongoing investments in customer deliveries, technology development and expansion of fabrication capacity. IQM is reaffirming its full-year 2026 guidance, anticipating order intake between EUR 65 million and EUR 75 million and revenue between EUR 42 million and EUR 47 million.
Q3 was a quarter of strong commercial momentum, with record new orders booked, our largest contract to date signed, and an expanded presence across four continents.
Dr. Jan Goetz, Co-Founder and Chief Executive Officer
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