Pasqal Holding SA reports €3.1 million in quantum processing unit services revenue, a 53% increase year-over-year, even as overall revenue decreased to €3.3 million. This shift indicates a growing focus on ongoing service contracts rather than hardware sales for the neutral-atom based quantum computing company. As of September 30, 2026, Pasqal has booked and awarded business totaling €69.8 million, suggesting substantial future potential. “Although the order book and revenue do not show it yet, we have made important progress in our technology roadmap,” said Dr. Wasiq Bokhari, Chief Executive Officer of Pasqal.
53% Growth in QPU Services Revenue Drives Third Quarter Results
Quantum processing unit services revenue increased by 53% year-over-year for Pasqal, reaching €3.1 million from €2.0 million during the same period last year. Pasqal is actively broadening its reach across enterprise, sovereign and public sector customers, increasing its pipeline of opportunities and bolstering its position in the emerging quantum computing market. This expansion is supported by a robust financial foundation, with cash and cash equivalents totaling €312.8 million at the end of the quarter.
This financial stability allows Pasqal to pursue key technological advancements, including scaling on-chip photonic control and bringing AI-assisted workflows to Pasqal Cloud, according to Dr. Recent progress includes the successful trapping of individual atoms using a photonic integrated circuit, a platform co-developed with Aeponyx, which reduces the optical footprint by up to a factor of 50. This innovation addresses a critical constraint in manufacturing neutral-atom processors at industrial scale.
Pasqal also launched an AI-assisted workflow on its cloud platform, integrating with leading agentic coding environments to streamline the process of translating scientific ideas into running experiments on their hardware. Pasqal’s commitment to standardization and security is emphasised by its recent ISO/IEC 27001:2022 certification, providing customers with independent assurance as they transition quantum computing from pilot projects to production deployments.
The company’s collaborative efforts extend beyond technological development, with recent agreements including a research partnership with King Abdulaziz City for Science & Technology and a memorandum of understanding with LG CNS to integrate Pasqal’s quantum computers with AI platforms in South Korea. Bokhari stated that Pasqal will maintain a disciplined investment approach to scale its capital-efficient business, signaling a continued focus on sustainable growth and technological innovation.
See today’s quantum computing news on Quantum Zeitgeist for the latest breakthroughs in qubits, hardware, algorithms, and industry deals.
