IQM Quantum Computers booked EUR 42.2 million in new orders during the third quarter, driven by a EUR 33 million contract with CSC’s LUMI AI Factory for its Halocene error-correction platform. This brings the company’s year-to-date order intake to EUR 52.9 million, increasing the total order backlog to EUR 102.5 million as of September 30, 2026. “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.”
Q3 2026 Order Backlog Growth Driven by LUMI-IQ Halocene
IQM Quantum Computers concluded September 30, 2026, with an order backlog reaching EUR 102.5 million, a 52% increase from the start of the year, demonstrating sustained commercial traction in the rapidly evolving quantum computing sector. This growth is significantly bolstered by a EUR 42.2 million influx of new orders during the third quarter, spurred by demand for the LUMI-IQ Halocene platform.
The company’s strategic focus on delivering commercially viable quantum systems is reflected in a 51% year-over-year revenue increase for the third quarter, totaling EUR 8.9 million, generated entirely from commercial contracts without reliance on public funding or grants. Expansion beyond established markets is evident in IQM’s broadening customer base; the company secured its first quantum computer sale in South America, delivering an IQM Spark system to the Eldorado Research Institute in Brazil.
Simultaneously, a second full-stack quantum computer, also an IQM Spark, was sold to TOYO Corporation in Japan, supporting the nation’s ambition of ten million quantum users by 2030. Dr. Goetz stated, “This quarter, a leading AI factory committed to a multi-year path toward logical qubits on IQM hardware, not just buying today’s machine but investing in a roadmap they trust we will deliver.” The company’s financial position remains robust, with EUR 260.4 million in cash and cash equivalents as of September 30, 2026, providing a solid foundation for continued investment in customer deliveries, technology development and expansion of fabrication capacity.
IQM maintains its full-year 2026 guidance, projecting order intake between EUR 65 million and EUR 75 million and revenue between EUR 42 million and EUR 47 million. The company recognizes revenue from standardized systems upon customer acceptance, a process dependent on factors such as site readiness and procurement sign-off, while larger customized projects are recognized over time as milestones are achieved.
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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