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STOCKHOLDERS' EQUITY - Amendment and Restatement of Certificate of Incorporation (Details) - $ / shares	Jun. 30, 2026	Jun. 05, 2026	Jun. 03, 2026
Class of Stock [Line Items]
Common stock, par value (in usd per share)			$ 0.0001
Preferred stock authorized (in shares)	20,000,000
Preferred stock, par value (in usd per share)	$ 0.0001
Class A
Class of Stock [Line Items]
Common stock authorized (in shares)	2,000,000,000
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Class B
Class of Stock [Line Items]
Common stock authorized (in shares)	2,000,000,000
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Schedule of Product Information

Significant customers that represent 10% or more of the Company’s Revenue—net are set forth in the following table:


	Three months ended June 30				Six months ended June 30
	2026		2025		2026		2025
Customer A	18	%	*		29	%	*
Customer B	21	%	22	%	16	%	84	%
U.S. Government	32	%	26	%	29	%	*
Customer D	*		25	%	*		*

* Customer accounted for less than 10% of revenue in the respective periods.

LEASES - Lessor, Operating Leases, Additional Information (Details)	Jun. 30, 2026
Leases [Abstract]
Sublease term	19 months

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock-Based Compensation Plan (Details) - $ / shares	Jun. 05, 2026	Jun. 03, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, par value (in usd per share)		$ 0.0001
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award service period	4 years
RSUs \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period	3 years
RSUs \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period	4 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Unaudited Condensed Consolidated Statements of Temporary Equity and Shareholders' Equity - USD ($) $ in Thousands	Total	Balance prior to the Transactions	Effects of the Transactions	Activity subsequent to the Transactions	Class A	Class B	Quantinuum (Cayman) Shareholders' Equity Balance prior to the Transactions	Quantinuum (Cayman) Shareholders' Equity Effects of the Transactions	Common Stock	Common Stock Class A Effects of the Transactions	Common Stock Class A Activity subsequent to the Transactions	Common Stock Class B Effects of the Transactions	Common Stock Class B Activity subsequent to the Transactions	Additional paid-in-capital	Additional paid-in-capital Effects of the Transactions	Additional paid-in-capital Activity subsequent to the Transactions	Accumulated other comprehensive (loss)/income	Accumulated other comprehensive (loss)/income Effects of the Transactions	Accumulated other comprehensive (loss)/income Activity subsequent to the Transactions	Accumulated deficit	Accumulated deficit Effects of the Transactions	Accumulated deficit Activity subsequent to the Transactions	Non-controlling interest Effects of the Transactions	Non-controlling interest Activity subsequent to the Transactions
Beginning balance at Dec. 31, 2024	$ 689,107
Ending balance at Mar. 31, 2025	689,107
Beginning balance at Dec. 31, 2024	309,526								$ 30					$ 917,902			$ (56,203)			$ (552,203)
Beginning balance (in shares) at Dec. 31, 2024									300,000,001
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(30,489)																			(30,489)
Foreign exchange translation adjustment	25,707																25,707
Ending balance (in shares) at Mar. 31, 2025									300,000,001
Ending balance at Mar. 31, 2025	304,744								$ 30					917,902			(30,496)			(582,692)
Beginning balance at Dec. 31, 2024	689,107
Ending balance at Jun. 30, 2025	689,107
Beginning balance at Dec. 31, 2024	309,526								$ 30					917,902			(56,203)			(552,203)
Beginning balance (in shares) at Dec. 31, 2024									300,000,001
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(87,406)
Foreign exchange translation adjustment	77,025
Ending balance (in shares) at Jun. 30, 2025									300,000,001
Ending balance at Jun. 30, 2025	299,145								$ 30					917,902			20,822			(639,609)
Beginning balance at Mar. 31, 2025	689,107
Ending balance at Jun. 30, 2025	689,107
Beginning balance at Mar. 31, 2025	304,744								$ 30					917,902			(30,496)			(582,692)
Beginning balance (in shares) at Mar. 31, 2025									300,000,001
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(56,917)																			(56,917)
Foreign exchange translation adjustment	51,318																51,318
Ending balance (in shares) at Jun. 30, 2025									300,000,001
Ending balance at Jun. 30, 2025	299,145								$ 30					$ 917,902			$ 20,822			$ (639,609)
Beginning balance at Dec. 31, 2025		$ 1,513,941
Ending balance at Mar. 31, 2026		1,513,941
Beginning balance at Dec. 31, 2025	173,652	173,652					$ 173,652
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(136,593)					(136,593)
Foreign exchange translation adjustment		(11,415)					(11,415)
Ending balance at Mar. 31, 2026		25,644					25,644
Beginning balance at Dec. 31, 2025		1,513,941
Beginning balance at Dec. 31, 2025	173,652	173,652					173,652
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(733,113)
Foreign exchange translation adjustment	(15,711)
Warrant exercise	150,215
Ending balance (in shares) at Jun. 30, 2026					36,134,196	226,771,877					36,134,196		226,771,877
Ending balance at Jun. 30, 2026	3,005,354			$ 3,005,354							$ 3		$ 23			$ 480,105			$ (1,631)			$ (65,418)		$ 2,592,272
Beginning balance at Mar. 31, 2026		1,513,941
Ending balance at Jun. 04, 2026		1,513,941
Beginning balance at Mar. 31, 2026		25,644					25,644
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(110,087)					(110,087)
Foreign exchange translation adjustment		9,669					9,669
Ending balance at Jun. 04, 2026		(74,774)					(74,774)
Beginning balance at Mar. 31, 2026		1,513,941
Beginning balance at Mar. 31, 2026		25,644					25,644
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(596,520)
Foreign exchange translation adjustment	(4,296)
Ending balance (in shares) at Jun. 30, 2026					36,134,196	226,771,877					36,134,196		226,771,877
Ending balance at Jun. 30, 2026	3,005,354			3,005,354							$ 3		$ 23			480,105			(1,631)			(65,418)		2,592,272
Beginning balance at Jun. 04, 2026		1,513,941
Increase (Decrease) in Temporary Equity [Roll Forward]
Effect of Reorganization Transactions			$ (1,513,941)
Beginning balance at Jun. 04, 2026		$ (74,774)					$ (74,774)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss				(54,782)																		(7,367)		(47,415)
Foreign exchange translation adjustment				(13,965)															(1,878)					(12,087)
Effect of Reorganization Transactions (in shares)										1,963,991		228,107,842
Effect of Reorganization Transactions			1,513,963					$ (75,441)				$ 23			$ 1,587,585			$ 1,796
Stock-based compensation expense recognized in connection with the Transactions			(431,651)																		$ (58,051)		$ (373,600)
Stock-based compensation (in shares)										3,180,065
Stock-based compensation			300,975	15,802											300,975	2,172								13,630
Warrant exercise	150,215		150,215
Issuance of unvested legally outstanding shares (in shares)										1,154,175
Issuance of Class A common stock sold in initial public offering and the underwriters' option to purchase additional shares of Class A common stock, net of underwriting discounts, commissions and offering costs (in shares)										28,500,000
Issuance of Class A common stock sold in initial public offering and the underwriters' option to purchase additional shares of Class A common stock, net of underwriting discounts, commissions and offering costs			1,599,571							$ 3					1,599,568
Allocation of equity to Non-controlling interests			$ 0												$ (3,024,911)			$ (1,558)					$ 3,026,469
Exchange of Non-controlling interests and cancellation of Class B Common stock (in shares)											1,335,965		(1,335,965)
Non-controlling interest adjustment for changes in proportionate ownership in Quantinuum Holdings				0												14,716			9					(14,725)
Ending balance (in shares) at Jun. 30, 2026					36,134,196	226,771,877					36,134,196		226,771,877
Ending balance at Jun. 30, 2026	$ 3,005,354			$ 3,005,354							$ 3		$ 23			$ 480,105			$ (1,631)			$ (65,418)		$ 2,592,272

LEASES - Lessor, Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Feb. 28, 2025
Leases [Abstract]
Net investment in lease, current portion	$ 5,773	$ 5,773
Net investment in lease, non-current portion	7,216	10,102
Total assets	$ 12,989	$ 15,875	$ 21,600

STOCK-BASED COMPENSATION - IPO Equity Awards (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 05, 2026	Jun. 03, 2026	Jun. 30, 2026	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation expense			$ 6,900	$ 447,460	$ 0	$ 447,460	$ 0
Payment for taxes for the net share settlement of awards						91,984	$ 0
2026 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense			194,800	$ 194,800		$ 194,800
Weighted-average period of recognition						2 years 3 months 18 days
Class A \| IPO
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Sale of stock, price per share (in usd per share)	$ 60.00
Class A \| Chief Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, percentage of total awards granted		50.00%
Nonvested common stock (in shares)		122,791
Class A \| Chief Executive Officer \| IPO
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Sale of stock, price per share (in usd per share)		$ 60
Hazra IPO Equity Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation expense	$ 327,900		$ 8,900
Nonvested common stock (in shares)			122,791	122,791		122,791		0
Hazra IPO Equity Awards \| Chief Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Cumulative value		$ 9,400
Nonvested restricted stock units (in shares)		78,333
Award vesting period		4 years
RSUs \| 2026 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Nonvested restricted stock units (in shares)			5,702,509	5,702,509		5,702,509		0
RSUs \| Chief Executive Officer
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
RSUs, percentage of total awards granted		50.00%

STOCK-BASED COMPENSATION

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

NOTE. 15 STOCK-BASED COMPENSATION

Quantinuum 2023 Equity Incentive Plan

Prior to the Reorganization Transactions, Quantinuum (Cayman) maintained a stock-based incentive plan (“2023 Plan”) for eligible Quantinuum employees. The 2023 Plan, which was assumed by the Company as part of the Reorganization Transactions, authorized the grant of 6,443,305 Quantinuum (Cayman) Class C shares, including stock options, restricted shares and RSUs. Following the IPO, the number of shares of Class A common stock reserved for issuance under the 2023 Plan is 3,845,117. The restricted Quantinuum (Cayman) Class C shares granted under the 2023 Plan were converted into 2,898,904 restricted shares of our Class A common stock and the RSU awards granted under the 2023 Plan covering Quantinuum (Cayman) Class C shares were converted into RSU awards covering 757,816 shares of our Class A common stock. No stock options were issued under the 2023 Plan. The 2023 Plan terminated in connection with the Reorganization Transactions, such that the Company cannot grant new awards under the 2023 Plan. However, any outstanding awards granted under the 2023 Plan as of the Reorganization Transactions remained outstanding following those transactions, subject to the terms of the 2023 Plan and applicable award agreements.

The RSUs and restricted stock vest subject to a dual-contingency structure, requiring the satisfaction of both a service or annual performance condition and a liquidity event condition. The service-based vesting condition and the annual performance-based vesting condition, which are expected to be tied to the achievement of corporate objectives, are satisfied over a period of four years. The liquidity event condition is an additional performance condition that would be satisfied upon a qualifying liquidity event. Prior to the IPO, no Stock compensation expense was recognized for any restricted shares and RSUs under the 2023 Plan, as the qualifying liquidity event was not considered probable.

The liquidity event condition was satisfied upon completion of the IPO. Modification accounting is not required for the awards assumed under the 2023 Plan as (i) the fair value of the modified awards does not exceed the fair value of the original award immediately before the original award was modified, (ii) the vesting conditions of the modified awards are the same as the original award immediately before the original award is modified and (iii) the classification of the modified

award is the same as the original award immediately before the original award is modified. As a result, there is no incremental compensation cost resulting from the assumption of the 2023 Plan.

Upon completion of the IPO, the Company recorded a cumulative adjustment to Stock compensation expense totaling $103.8 million using the accelerated attribution method for the 2023 Plan. For the period from June 5, 2026 to June 30, 2026, the Company recognized Stock compensation expense totaling $6.9 million using the accelerated attribution method.

For the restricted shares and RSUs subject to the annual performance-based vesting condition for the 2026 performance period, an accounting grant date is only established when key terms and conditions of the awards are communicated to the recipients. As of June 30, 2026, a total of 400,791 of restricted shares and 151,562 of RSUs had no accounting grant date as the annual performance conditions were not yet communicated. However, the service inception date precedes the establishment of the grant date, therefore, compensation cost is recognized based on the fair value of the Company’s common stock at each reporting period until the grant date is established. Once the grant date is established, the cumulative compensation cost is adjusted to reflect the grant-date fair value of the award.

The following table is a summary of the restricted share and RSU awards activity under the 2023 Plan on a post-conversion basis and related information for the six months ended June 30, 2026:


	RSUs			Restricted Shares
	Number of Shares	Weighted-Average Grant-Date Fair Value		Number of Shares	Weighted-Average Grant-Date Fair Value
Outstanding and unvested—January 1	189,453	$	11.04	659,867	$	16.13
Granted	416,799	49.23		1,665,525	47.10
Vested	(568,362)	39.05		(1,744,726)	39.21
Forfeited	—	—		(41,702)	11.04
Outstanding and unvested—June 30	37,890	$	11.04	538,964	$	37.51

As of June 30, 2026, unrecognized Stock compensation expense related to the 2023 Plan awards that are expected to vest was $38.7 million, which is expected to be recognized over a weighted-average period of 1.3 years.

Quantinuum 2026 Equity Incentive Plan

In connection with the IPO, the Company adopted the 2026 Incentive Award Plan (the “2026 Plan”) in order to facilitate the grant of cash and equity incentives to our employees, consultants, directors and consultants of our affiliates in order to attract, motivate and retain the talent for which we compete. Through the 2026 Plan, the Company assumed the contractual obligations to grant RSU awards under the conditions set forth in two stock-based compensation plans contingent upon a qualifying liquidation event such as an IPO: the Parent-Quantinuum Plan (the “Parent-Quantinuum Plan”) and the Series A Common Stock Pool Plan (the “SACSP”, and together with the Parent-Quantinuum Plan, the “Contractual Obligations”). In addition to assuming the Contractual Obligations, the Company’s Board of Directors also approved the grant of new awards pursuant to the 2026 Plan to certain employees and non-employee directors and executive officers, which became effective in connection with the consummation of the offering (“IPO Equity Awards” and together with the “Contractual Obligations”, the “2026 Plan Awards”). The 2026 Plan authorizes the grant of awards, including stock options, restricted shares and RSUs, covering up to 40,899,555 shares of Class A common stock.

The details of the plans assumed by the Company under the 2026 Plan are as follows:

Parent-Quantinuum Plan

On November 29, 2021, Honeywell announced a stock-based incentive plan for eligible Company employees to receive awards of Company equity shares which will be granted upon a qualifying liquidity event. The promised RSUs vested in four equal annual installments on the first through fourth anniversaries of November 29, 2021 and were fully vested prior to the IPO.

Series A Common Stock Pool Plan

On March 1, 2022, Quantinuum (Cayman) authorized and approved a pool of Class A common stock for employees to be issued upon a qualifying liquidity event. These awards were granted to multiple employees, on many different dates into 2026. The RSUs issued in settlement of the SACSP awards are scheduled to vest in four equal annual installments on the first through fourth anniversaries of the applicable date on which the letter communicating the award was issued to eligible

employees. At the date of the IPO, the RSUs issued in settlement of awards under the SACSP were a mix of fully vested and partially vested awards.

IPO Equity Awards

The IPO Equity Awards are comprised of both RSUs and options to acquire shares of the Company’s Class A common stock. Most of the IPO Equity Awards will vest in equal annual installments on the first through fourth anniversaries of the applicable vesting commencement date, except for awards issued to board members, which will vest on the first anniversary of the IPO date.

The liquidity event condition was satisfied upon completion of the IPO, and the Company recorded a cumulative adjustment to Stock compensation expense totaling $327.9 million using the accelerated attribution method for the 2026 Plan. For the period from June 5, 2026 to June 30, 2026, the Company recognized Stock compensation expense totaling $8.9 million using the accelerated attribution method.

The following table is a summary of the RSU awards activity under the 2026 Plan and related information for the six months ended June 30, 2026:


	RSUs
	Number of Shares	Weighted-Average Grant-Date Fair Value
Outstanding and unvested—January 1	—	$	—
Granted	8,800,759	61.79
Vested	(3,098,250)	60.00
Forfeited	—	—
Outstanding and unvested—June 30	5,702,509	$	62.77

The IPO Equity Awards granted to our CEO, Dr. Rajeeb Hazra are 50% in the form of RSUs and the remaining 50% in the form of options to acquire shares of our Class A common stock (the “Hazra IPO Equity Awards”). The Hazra IPO Equity Awards have a cumulative dollar-denominated value of $9.4 million. The number of shares of Class A common stock subject to such RSUs and options (and the exercise price per share applicable to such option) was based on the initial public offering price of $60 per share and, with respect to the option, was determined utilizing a Black-Scholes model. The Hazra IPO Equity Awards cover 78,333 shares (for the RSUs, which are included in the table above) and 122,791 shares for the options of Class A common stock. The Hazra IPO Equity Awards vest ratably in annual installments over a four year period, subject to his continued employment through the applicable vesting date.

The following table is a summary of the stock option activity under the IPO Equity Awards and related information for the six months ended June 30, 2026:


	Options
	Number of Options	Weighted-Average Grant-Date Fair Value
Outstanding and unvested—January 1	—	$	—
Granted	122,791	38.28
Vested	—	—
Forfeited	—	—
Outstanding and unvested—June 30	122,791	$	38.28

We estimate the fair value of stock options using the Black-Scholes option-pricing model consistent with the provisions of ASC Topic 718, “Compensation-Stock Compensation” (Topic 718) and SEC Staff Accounting Bulletin No. 107. The option-pricing models require input of subjective assumptions, including the estimated life of the option and the

expected volatility of the underlying stock over the estimated life of the option. Expected volatility was estimated based on historical and implied stock price volatility from several guideline companies over a period equivalent to the expected term.

We believe that the valuation techniques and the approach utilized to develop the underlying assumptions are appropriate in calculating the fair value of our stock option grants. Estimates of fair value are not intended, however, to predict actual future events or the value ultimately realized by employees who receive equity awards.

The Hazra IPO Equity Awards, issued in the form of options, were granted on June 3, 2026, and represent the only options outstanding as of June 30, 2026. The assumptions used for the Black-Scholes option-pricing model were as follows:


Assumptions:
Expected volatility	65.00		%
Risk-free interest rate	4.33		%
Expected dividend yield	—		%
Expected life (in years)	6.25
Exercise price	$	60.00

As of June 30, 2026, unrecognized Stock compensation expense related to the 2026 Plan awards that are expected to vest was $194.8 million, which is expected to be recognized over a weighted-average period of 2.3 years.

The following table is a summary of the total Stock compensation expense for the 2023 Plan and 2026 Plan awards, which is included in the Condensed Consolidated Financial Statements as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of revenue	$	6,331	$	—	$	6,331	$	—
Research and development expenses—net	294,901		—		294,901		—
Sales and marketing expenses	17,217		—		17,217		—
General and administrative expenses	129,011		—		129,011		—
Total Stock compensation expense	$	447,460	$	—	$	447,460	$	—

The Company paid $92.0 million in taxes for the net share settlement of incentive equity awards that vested during the six months ended June 30, 2026. Such amounts are included within Financing activities on the Condensed Consolidated Statements of Cash Flows.

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (733,113)	$ (87,406)
Adjustments to reconcile to net cash used for operating activities
Depreciation and amortization	18,460	14,851
Noncash lease expense	230	1,395
Sales under sales-type lease	0	(16,526)
Stock compensation expense	447,454	0
Loss on change in fair value of warrant liabilities	111,815	7,800
(Gain)/Loss on disposal and write down of assets	(10)	901
Interest expense	4	4
Foreign exchange (gain)/loss—net	62	(15)
Access to quantum computing hardware	4,648	2,991
Changes in operating assets and liabilities
Accounts receivable	1,690	1,843
Due from related parties	38	229
Other current assets	(11,082)	565
Net investment in leases	2,886	2,886
Prepayment to related parties, non-current	(14,136)	0
Other assets—net	472	1,516
Accounts payable	15,463	4,387
Due to related parties	(710)	(534)
Accrued liabilities	26,943	(746)
Other liabilities	(199)	79
Net cash used for operating activities	(129,085)	(65,780)
Cash flows from investing activities:
Capital expenditures	(39,177)	(37,721)
Net cash used for investing activities	(39,177)	(37,721)
Cash flows from financing activities:
Proceeds from issuance of common stock	1,628,774	0
Common stock issuance costs	(23,534)	0
Withholding taxes paid on stock compensation	(91,984)	0
Net cash provided by financing activities	1,513,256	0
Effect of exchange rate changes on cash and cash equivalents	(950)	23
Net increase (decrease) in cash and cash equivalents	1,344,044	(103,478)
Cash and cash equivalents at beginning of period	762,642	172,343
Cash and cash equivalents at end of period	2,106,686	68,865
Non-cash investing and financing activities:
Unpaid purchases of property and equipment	9,227	8,348
Unpaid withholding taxes on stock compensation	38,692	0
Unpaid issuance costs	5,672	0
Value of shares issued via cashless warrant exercise	$ 150,215	$ 0

LEASES - Lessor, Future Minimum Lease Payments to be Received Under the Sub-Lease (Details) $ in Thousands	Jun. 30, 2026 USD ($)
Leases [Abstract]
Remainder of 2026	$ 190
2027	390
Total future minimum lease payments	$ 580

LEASES - Maturities of Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Remainder of 2026	$ 2,344
2027	4,647
2028	4,307
2029	4,102
2030	3,685
Thereafter	27,782
Total lease payments	46,867
Less - interest	(14,214)
Total	$ 32,653	$ 10,456

SEGMENTS (Details)	6 Months Ended
SEGMENTS (Details)	Jun. 30, 2026 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

DESCRIPTION OF ORGANIZATION - Reorganization Transaction (Details)	Jun. 05, 2026 segment $ / shares shares	Jun. 30, 2026 $ / shares	Jun. 04, 2026 shares	Jun. 03, 2026 $ / shares
Subsidiary or Equity Method Investee [Line Items]
Common stock, par value (in usd per share) \| $ / shares				$ 0.0001
Class A
Subsidiary or Equity Method Investee [Line Items]
Common stock, number of votes per share held \| segment	1
Common stock, par value (in usd per share) \| $ / shares	$ 0.0001	$ 0.0001
Class B
Subsidiary or Equity Method Investee [Line Items]
Common stock, number of votes per share held \| segment	1
Common stock, par value (in usd per share) \| $ / shares	$ 0.0001	$ 0.0001
Shares issued (in shares)	228,107,842
Warrant exercise (in shares)	2,503,576
Preferred shares
Subsidiary or Equity Method Investee [Line Items]
Warrant exercise (in shares)	6,988,121
2023 Plan
Subsidiary or Equity Method Investee [Line Items]
Shares granted (in shares)	8,475,115
2023 Plan \| Class C
Subsidiary or Equity Method Investee [Line Items]
Awards available for grant (in shares)	3,845,117		6,443,305

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS - Disaggregation of Revenue by Timing of Transfer of Goods or Services (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation of Revenue [Line Items]
Total revenue—net	$ 7,998	$ 2,108	$ 13,235	$ 21,193
Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue—net	135	0	135	16,526
Revenue recognized over time
Disaggregation of Revenue [Line Items]
Total revenue—net	$ 7,863	$ 2,108	$ 13,100	$ 4,667

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (a)
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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-Section 55
-Paragraph 91
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-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

+ Details

STOCK-BASED COMPENSATION - Summary of Total Stock Compensation Expense (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Stock compensation expense	$ 6,900	$ 447,460	$ 0	$ 447,460	$ 0
Location, Statement of Income, Balance [Axis]: us-gaap:CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Stock compensation expense		6,331	0	6,331	0
Location, Statement of Income, Balance [Axis]: us-gaap:GeneralAndAdministrativeExpense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Stock compensation expense		129,011	0	129,011	0
Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Stock compensation expense		294,901	0	294,901	0
Location, Statement of Income, Balance [Axis]: us-gaap:SellingAndMarketingExpense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total Stock compensation expense		$ 17,217	$ 0	$ 17,217	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025	Dec. 31, 2024
Disaggregation of Revenue [Line Items]
Payment term	30 days
Remaining performance obligations	$ 74,200
Contract liability recognized as revenue	5,579	$ 6,608	$ 1,020	$ 1,401
Quantum Computing Service \| Short-Term Contract with Customer
Disaggregation of Revenue [Line Items]
Contract liability recognized as revenue	5,300
Quantum Computing Service \| Long-Term Contract with Customer
Disaggregation of Revenue [Line Items]
Contract liability recognized as revenue	$ 300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, percentage	39.60%
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-07-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, percentage	64.80%
Remaining performance obligation, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-07-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, percentage	85.30%
Remaining performance obligation, period	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-07-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, percentage	97.50%
Remaining performance obligation, period	4 years

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Related Party Transaction [Line Items]
Revenue —net	$ 7,998	$ 2,108	$ 13,235	$ 21,193
Honeywell Aerospace Inc.
Related Party Transaction [Line Items]
Due to related parties	1,000		1,000
Related Party
Related Party Transaction [Line Items]
Revenue —net	0	100	0	300
Due to related parties	52		52		$ 1,273
Due from related parties	532		532		$ 604
Related Party \| Non-Officer Vice President
Related Party Transaction [Line Items]
Due from related parties	2,200		2,200
Related Party \| Purchase Of Products And Services
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	$ 2,200	$ 800	$ 4,100	$ 2,500

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(7)(e)(1)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(16))
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-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.9-03(15)(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 970
-SubTopic 810
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477383/970-810-45-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (d)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 1,005	$ 686	$ 1,996	$ 1,348
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 8,061	$ 489	$ 22,114	$ 823

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS - Contract Liability Balances (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Movement In Contract With Customer Liability [Roll Forward]
Contract liabilities—January 1	$ 6,608	$ 1,401
Additions	4,294	390
Revenue recognized	(5,323)	(771)
Contract liabilities—June 30	$ 5,579	$ 1,020

DESCRIPTION OF ORGANIZATION - Initial Public Offering (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 05, 2026	Jun. 30, 2026	Jun. 03, 2026
Subsidiary or Equity Method Investee [Line Items]
Common stock, par value (in usd per share)			$ 0.0001
IPO
Subsidiary or Equity Method Investee [Line Items]
Aggregate net proceeds from stock offering	$ 1,628.8
Class A
Subsidiary or Equity Method Investee [Line Items]
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Class A \| IPO
Subsidiary or Equity Method Investee [Line Items]
Shares issued (in shares)	28,500,000
Sale of stock, price per share (in usd per share)	$ 60.00
Over-Allotment Option \| Class A
Subsidiary or Equity Method Investee [Line Items]
Shares issued (in shares)	500,000

NON-CONTROLLING INTERESTS

6 Months Ended

Jun. 30, 2026

Noncontrolling Interest [Abstract]

NON-CONTROLLING INTERESTS

NOTE. 11 NON-CONTROLLING INTERESTS

In connection with the Transactions, Quantinuum Inc. became the sole managing member of Quantinuum Holdings and accordingly consolidates the results of operations of Quantinuum Holdings. The Non-controlling interest balance on the Company’s Condensed Consolidated Balance Sheets represents the economic interest in Quantinuum Holdings attributable to the Common Units held by the Continuing Common Unitholders. Net loss attributable to the non-controlling interest represents the portion of consolidated Net loss allocated to Continuing Common Unitholders based on their weighted‑average ownership interest in Quantinuum Holdings during the period.

As of June 30, 2026, Continuing Common Unitholders owned 226,771,877 Common Units, representing 86.3% of the economic interest in Quantinuum Holdings, and Quantinuum Inc. owned 36,134,196 Common Units, representing the remaining 13.7%.

The ownership of the Common Units is summarized as follows:


	Ownership			Ownership Percentage
	Quantinuum Inc.	Continuing Common Unitholders	Total	Quantinuum Inc.		Continuing Common Unitholders		Total
Balances as of June 5, 2026	34,798,231	228,107,842	262,906,073	13.2	%	86.8	%	100.0	%
Exchange of Non-controlling interests	1,335,965	(1,335,965)	—	0.5	%	(0.5)	%	—	%
Balances as of June 30, 2026	36,134,196	226,771,877	262,906,073	13.7	%	86.3	%	100.0	%

The following table summarizes the effect of changes in ownership of Quantinuum Inc. on the Company's equity for the period during the Transactions through June 30, 2026 (in thousands):


Net loss attributable to Quantinuum Inc.	$	(65,418)
Accumulated other comprehensive (loss) income:
Foreign exchange translation adjustment	(1,878)
Increase (decrease) as a result of non-controlling interest adjustment for changes in proportionate ownership in Quantinuum Holdings	9
Additional paid-in capital:
Increase as a result of stock-based compensation	316,777
Increase (decrease) as a result of non-controlling interest adjustment for stock-based compensation	(273,239)
Increase (decrease) as a result of non-controlling interest adjustment for changes in proportionate ownership in Quantinuum Holdings	14,716
Total effect of changes in ownership interest on equity attributable to Quantinuum Inc.	$	(9,033)

Continuing Common Unitholders may exchange Common Units, together with corresponding shares of Class B common stock, for cash or shares of Class A common stock, at the discretion of independent directors who are disinterested, subject to the terms of the Quantinuum Holdings LLCA. Future exchanges will increase Quantinuum Inc.’s ownership in Quantinuum Holdings and correspondingly reduce the Non-controlling interest.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE. 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION

The accompanying Unaudited Condensed Consolidated Financial Statements reflect the historical results of operations and comprehensive loss, financial position, and cash flows in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial reporting and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments considered necessary for a fair presentation of the Company’s Condensed Consolidated Financial Statements have been included. Interim results should not be regarded as indicative of results that may be expected for any other period or the entire year. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and accompanying notes for the year ended December 31, 2025 (the “2025 Consolidated Financial Statements”) included in the final prospectus the Company filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended

(the “Securities Act”), on June 5, 2026 (the “Prospectus”). Unless otherwise noted, the Company continues to apply the same accounting policies as described in Note 2 — Summary of Significant Accounting Policies of the 2025 Consolidated Financial Statements included in the Prospectus.

Quantinuum (Cayman) is the predecessor entity of Quantinuum Inc. for financial reporting purposes. The reorganization of entities under common control and related consolidation is described in Note 1 — Description of Organization.

The Company reports its quarterly financial information using a calendar convention; the first, second, and third quarters are consistently reported as ending March 31, June 30, and September 30, respectively. It is the Company’s practice to establish actual quarterly closing dates using a predetermined fiscal calendar, which requires the Company’s businesses to close their books on a Saturday in order to minimize the potentially disruptive effects of quarterly closing on the Company’s business processes. The effects of this practice are generally not significant to reported results for any quarter and only exist within a reporting year. In the event differences in actual closing dates are material to year-over-year comparisons of quarterly or year-to-date results, the Company will provide appropriate disclosures. The Company’s closing dates for the three months ended June 30, 2026 and 2025, were June 27, 2026, and June 28, 2025, respectively.

The Condensed Consolidated Financial Statements include the accounts of Quantinuum Inc., Quantinuum Holdings, and its subsidiaries. Quantinuum Holdings is a Variable Interest Entity (“VIE”) as defined in ASC 810 which requires the consolidation of VIEs when the entity is determined to be the primary beneficiary. To be a primary beneficiary, an entity must have the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance, among other factors. The Company assessed its variable interests in Quantinuum Holdings and determined that the Company is the primary beneficiary. In completing the assessment, the Company identified the activities that it considers most significant to the economic performance of the VIE and determined that the Company has the power to direct those activities, as it is the sole managing member of Quantinuum Holdings. Accordingly, the Company consolidates Quantinuum Holdings, and the economic interest in the Quantinuum Holdings held by the Continuing Common Unitholders is represented as Non-controlling interest. All intercompany transactions and balances have been eliminated upon consolidation.

RECENT ACCOUNTING PRONOUNCEMENTS

The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Condensed Consolidated Financial Statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures, to require greater disaggregation of income tax disclosures. The new standard requires additional disclosure requirements pertaining to the income tax rate reconciliation and income taxes paid disaggregated by jurisdiction. ASU 2023-09 should be applied prospectively for fiscal years beginning after December 15, 2024, for public business entities, with application of the standard on a retrospective basis permitted. Given our status as an emerging growth company, the ASU is effective for the Company for fiscal years beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued. The Company is currently assessing the impact, if any, that ASU 2023-09 would have on its Consolidated Financial Statements.

In March 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), to enhance the transparency of income statement expenses for public business entities. The new standard requires public companies to provide new annual and interim disclosures with a detailed disaggregation of specific expense categories, such as employee compensation, depreciation, and amortization, within relevant expense captions. ASU 2024-03 is effective for the Company for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, and is to be applied on a retrospective basis, with early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2024-03 would have on its interim and annual Consolidated Financial Statements.

In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which introduces targeted improvements to the accounting for the costs of developing internal-use software. The new standard provides new guidance on how to evaluate whether the project probable-to-complete recognition threshold has been met in order to capitalize certain costs. ASU 2025-06 is effective for all entities for annual periods beginning after December 15, 2027, including

interim periods within those annual periods, with early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2025-06 would have on its interim and annual Consolidated Financial Statements.

In December 2025, the FASB issued ASU 2025‑10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, which establishes comprehensive authoritative guidance on the recognition, measurement, presentation, and disclosure of government grants received by business entities. The new standard provides a structured framework for determining when a grant should be recognized, how it should be measured, and how related information should be presented within the financial statements. ASU 2025‑10 is effective for public business entities for annual periods beginning after December 15, 2028, including interim periods within those annual periods. For all other entities, the ASU is effective for annual periods beginning after December 15, 2029, and early adoption is permitted. The Company is currently assessing the impact, if any, that ASU 2025-10 would have on its interim and annual Consolidated Financial Statements.

In December 2025, the FASB issued ASU 2025‑11, Interim Reporting (Topic 270): Narrow‑Scope Improvements, which clarifies the application of interim reporting requirements and reorganizes existing disclosure guidance to improve navigability within the Codification. The amendments specify the form and content requirements for interim financial statements, provide a comprehensive list of required interim disclosures, and introduce a principle requiring disclosure of events occurring after the prior annual period that materially impact the entity. ASU 2025‑11 is effective for interim periods within annual reporting periods beginning after December 15, 2027 for public business entities, with a one‑year deferral for all other entities, and early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2025-11 would have on its interim and annual Consolidated Financial Statements.

In December 2025, the FASB issued ASU 2025‑12, Codification Improvements, which includes a collection of clarifications and technical corrections intended to enhance the consistency and operability of various areas of U.S. GAAP. The amendments address a wide range of topics, including clarifications related to diluted earnings per share, disclosures for lease receivables, and improvements to guidance involving credit loss calculations and treasury stock transactions. ASU 2025‑12 is effective for annual reporting periods beginning after December 15, 2026, including interim periods within those annual periods, with early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2025-12 would have on its interim and annual Consolidated Financial Statements.

USE OF ESTIMATES

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and Notes to the Unaudited Condensed Consolidated Financial Statements. Estimates, judgments and assumptions are used in the accounting and disclosure related to, among other items:

•the valuation of deferred income tax assets and uncertain tax positions,

•assumptions used to measure Stock compensation expense, including the fair value of our Class A common stock and stock options,

•useful lives of Property and equipment—net and Other intangible assets—net,

•the assessment for impairment of long-lived assets and Goodwill,

•the fair value valuation of warrant liabilities,

•revenue recognition, including the allocation of transaction price to performance obligations in contracts with customers,

•the determination of the incremental borrowing rate for leases,

•and the determination of the discount rate to estimate the present value of the future payments for license technology.

Actual amounts could ultimately differ from these estimated amounts. Changes in estimates will be reflected in the period in which the estimates are revised.

CUSTOMER CONCENTRATION

Concentrations of credit risk with respect to receivables are limited to the customers of the Company, and the Company performs ongoing credit evaluation of its customers. Significant customers that represent 10% or more of the Company’s Revenue—net are set forth in the following table:


	Three months ended June 30				Six months ended June 30
	2026		2025		2026		2025
Customer A	18	%	*		29	%	*
Customer B	21	%	22	%	16	%	84	%
U.S. Government	32	%	26	%	29	%	*
Customer D	*		25	%	*		*

* Customer accounted for less than 10% of revenue in the respective periods.

GOVERNMENT GRANTS

The Company receives government grants in support of research and development activities. Because there is no authoritative guidance under U.S. GAAP on accounting for government grants received, the Company applies IAS 20, Accounting for Government Grants and Disclosure of Government Assistance by analogy. Government grants associated with contracts where the government is a customer are invoiced and Revenue—net is recognized as milestones are achieved and conditions are satisfied. Government grants not associated with contracts are recorded in Other (income)/expense.

The Company benefits from using the Research and Development Expenditure Credit (“RDEC”) program in the United Kingdom. The credit is recognized as an offset to Research and development expenses—net in the Unaudited Condensed Consolidated Statements of Operations, with a corresponding amount recognized as a tax receivable in Other current assets in the Condensed Consolidated Balance Sheets. For the three months ended June 30, 2026 and 2025, the Company recognized $0.6 million and $0.4 million of RDEC credit, respectively. For the six months ended June 30, 2026 and 2025, the Company recognized $1.1 million and $0.8 million of RDEC credit, respectively. The net position of the tax receivable in Other current assets in the Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025 was $3.7 million and $4.4 million, respectively.

STOCK-BASED COMPENSATION PLAN

Certain employees and non-employee directors of the Company participate in the stock-based compensation plans sponsored by the Company. The awards issued prior to the IPO, as described in Note 15 — Stock-Based Compensation, consist of RSUs and restricted stock that are subject to a dual-contingency structure, requiring the satisfaction of both a service or annual performance condition and a liquidity event condition. The service-based vesting condition and the annual performance condition, which generally is tied to the achievement of corporate objectives, are satisfied over a period of four years. The liquidity event condition was satisfied upon the IPO. Additionally, the Company issued further awards, in the form of RSUs and options, which generally vest upon satisfaction of a service condition over a three or four year service period. The Company accounts for stock-based compensation awards at their grant date fair values.

For the portion of the awards subject to annual performance conditions, the Company determined that a grant date for accounting purposes does not occur until the specific performance metrics are approved and communicated to the employee. The Company remeasures the fair value of these awards at each reporting date until an accounting grant date is achieved, as the service inception date precedes the grant date.

The Company records Stock compensation expense for RSUs and restricted stock on an accelerated attribution method over the requisite service period and only if all vesting conditions are considered probable to be satisfied. Upon the IPO, the Company recorded cumulative Stock compensation expense determined using grant-date fair values for awards that satisfied or partially satisfied the service-based or other performance-based vesting conditions. Following the IPO, Stock compensation expense related to any remaining service-based or other performance-based vesting conditions will be recorded over the remaining requisite service period.

The fair value of awards granted prior to the IPO, was based on the fair value of Quantinuum (Cayman)’s common stock, par value $0.0001 per share (“Quantinuum (Cayman)’s common stock”). The fair value of the shares of Quantinuum (Cayman)’s common stock underlying RSUs and restricted stock was required to be estimated, as the shares were not traded on a public market on the grant date. The fair value of Quantinuum (Cayman)’s common stock was determined by

considering a number of objective and subjective factors including: the valuation of comparable companies, sales of Quantinuum (Cayman)’s convertible redeemable preferred stock or common stock, Quantinuum (Cayman)’s operating and financial performance, the lack of liquidity of Quantinuum (Cayman)’s common stock, and general and industry specific economic outlook, amongst other factors.

The fair value of RSU awards that were granted in connection with and subsequent to the IPO, are based on the fair value of Class A common stock at the time of grant. The fair value of option awards that were granted in connection with the IPO was determined using the Black-Scholes-Merton (“Black-Scholes”) option-pricing model.

OTHER INTANGIBLE ASSET—NET

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

OTHER INTANGIBLE ASSET—NET

NOTE. 5 OTHER INTANGIBLE ASSETS—NET

Other intangible assets—net are comprised of (in thousands):


	June 30, 2026						December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Determinable life intangibles:
Patents and technology	$	79,209	$	(45,424)	$	33,785	$	80,768	$	(41,269)	$	39,499
Licensed technology	69,952		(2,690)		67,262		69,952		—		69,952
Customer relationships	4,951		(1,302)		3,649		5,048		(1,138)		3,910
Trademarks	4,951		(4,542)		409		5,048		(4,127)		921
Total	$	159,063	$	(53,958)	$	105,105	$	160,816	$	(46,534)	$	114,282

Intangible assets Amortization expense was $4.2 million and $2.8 million for the three months ended June 30, 2026 and 2025. Intangible assets Amortization expense was $8.4 million and $5.7 million for the six months ended June 30, 2026 and 2025.

RELATED PARTY TRANSACTIONS	6 Months Ended
RELATED PARTY TRANSACTIONS	Jun. 30, 2026
Related Party Transactions [Abstract]
Related Party Transactions Disclosure	NOTE. 17 RELATED PARTY TRANSACTIONS For the three and six months ended June 30, 2026, the Company recorded no material gross Revenue—net from related parties. For the three and six months ended June 30, 2025 the Company recorded $0.1 million and $0.3 million of gross Revenue—net from Honeywell, respectively, for research projects and software subscription. The Company purchased $2.2 million and $0.8 million of products and services from related parties for the three months ended June 30, 2026 and 2025, respectively. The Company purchased $4.1 million and $2.5 million of products and services from related parties for the six months ended June 30, 2026 and 2025, respectively. As of June 30, 2026 and December 31, 2025, outstanding balances Due to related parties for all transactions were $0.1 million and $1.3 million, respectively; balances Due from related parties for all transactions were $0.5 million and $0.6 million, respectively. TRANSITION SERVICE AGREEMENT Prior to the Transactions, Honeywell was the controlling majority owner of the Company. Honeywell continues to hold a significant ownership interest in the Company and remains a related party. The Company and Honeywell entered into a transition service agreement (“TSA”) in which certain services performed by Honeywell are cash settled by the Company. For the three months ended June 30, 2026 and 2025, the Company was charged $0.2 million and $0.2 million, respectively, of corporate expenses which are required to be cash-settled to Honeywell. For the six months ended June 30, 2026 and 2025, the Company was charged $0.3 million and $0.3 million, respectively, of corporate expenses which are required to be cash-settled to Honeywell. Upon the occurrence of the IPO the TSA was terminated. STRATEGIC SERVICES AND SUPPLY AGREEMENTS The Company utilizes Honeywell’s facilities for fabrication of ion traps, a component of the quantum computers. In November 2021, the Company entered into a Strategic Services and Supply Agreement with Honeywell to continue the fabrication of ion traps (“the 2021 SSSA”). The agreement term was ten years and included reimbursement of labor and materials upon mutually agreed statements of work throughout the term and a prioritization incentive payment not exceeding 1.5% applied to annual revenues generated by the H-series quantum hardware. The Company incurred no material incentive for the three months ended June 30, 2026 and 2025 and $0.1 million and $0.3 million of incentive for the six months ended June 30, 2026 and 2025, respectively, which are reflected as a reduction of Revenue—net in the Unaudited Condensed Consolidated Statements of Operations. In March of 2026, the 2021 SSSA was terminated and the Company entered into a Strategic Services and Supply Agreement with Honeywell Aerospace Inc. (“AERO”) under which AERO will provide goods, services, and deliverables in relation to the fabrication of ion traps (“the 2026 SSSA”). Prior to AERO’s spin-off from Honeywell on June 29, 2026, AERO was considered a related party as a wholly owned subsidiary of Honeywell. On June 29, 2026, AERO completed its spin-off and ceased to be a related party as of that date. The agreement term is ten years, with automatic five-year renewals, and includes reimbursement of labor and materials plus a 15% markup upon mutually agreed statements of work and purchase orders. The Company is not obligated to purchase any minimum amount of goods, services, or deliverables under the 2026 SSSA and the agreement does not include a prioritization incentive payment. For the three months ended June 30, 2026 and 2025, the Company incurred $2.1 million and $0.6 million, respectively, of fabrication costs which are required to be cash-settled. For the six months ended June 30, 2026 and 2025, the Company incurred $3.7 million and $2.0 million, respectively, of fabrication costs which are required to be cash-settled. As of June 30, 2026 and December 31, 2025, outstanding balances due to Honeywell for fabrication costs were $0.1 million and $0.2 million, which are included in Due to related parties in the Condensed Consolidated Balance Sheets. Since AERO is no longer a related party as of June 29, 2026, the outstanding balance due to AERO for fabrication costs of $1.0 million as of June 30, 2026 is included in Accounts payable in the Condensed Consolidated Balance Sheets. Additionally, in connection with the 2026 SSSA, the Company has a prepayment to AERO balance of $14.1 million as of June 30, 2026 which is included in Prepayment to related parties, non-current in the Condensed Consolidated Balance Sheets and will make additional prepayments of $1.6 million during the remainder of 2026. LEASES In the second quarter of 2026, the Company completed a restructuring of its existing subleased office space in Broomfield, Colorado. As part of this restructuring, the Company's existing sublease arrangement with Honeywell was terminated, the Company assumed the related head lease, and the Company entered into a sublease arrangement with AERO for a portion of the premises. As a result of these transactions, the Company became both the lessee under the head lease and the lessor under the sublease. Accordingly, the Company accounts for the head lease and sublease as separate contracts. The underlying head lease associated with the restructuring was executed with an independent third-party lessor and does not constitute a related party transaction. Additionally, as of June 29, 2026, AERO, the lessee under the sublease agreement, is no longer a related party. Therefore, the related party relationship pertains solely to the terminated original sublease agreement with Honeywell, under which the Company acted as the lessee. In connection with the Company’s original sublease agreement with Honeywell to rent a portion of the building, the Company has included $1.7 million as the right-of-use asset, $0.6 million as the current portion of operating lease liabilities, and $1.2 million, as the non-current portion of operating lease liabilities in the Condensed Consolidated Balance Sheets as of December 31, 2025. Upon termination in the second quarter of 2026, the Company derecognized the right-of-use asset and corresponding lease liability associated with the sublease. For the three months ended June 30, 2026 and 2025, the Company recognized $0.1 million and $0.1 million, respectively, of operating lease cost and $0.5 million and $0.5 million, respectively, of variable lease cost in the Unaudited Condensed Consolidated Statements of Operations. For the six months ended June 30, 2026 and 2025, the Company recognized $0.3 million and $0.2 million, respectively, of operating lease cost and $1.1 million and $1.1 million, respectively, of variable lease cost in the Unaudited Condensed Consolidated Statements of Operations. OTHER RELATED PARTY TRANSACTIONS In connection with a Cooperative Research and Development Agreement with Honeywell Aerospace Technologies, the Company entered into statements of work with National Technology and Engineering Solutions of Sandia (“NTESS”), a wholly owned subsidiary of Honeywell, relating to collaborative research and development activities. Under these arrangements, the Company provides cost‑reimbursable funding for agreed research activities. The Company incurred $0.3 million and $0.1 million of costs related to these arrangements for the three months ended June 30, 2026 and 2025, respectively. The Company incurred $0.5 million and $0.1 million of costs related to these arrangements for the six months ended June 30, 2026 and 2025. Additionally, there were no material amounts payable to or receivable from NTESS as of June 30, 2026 and December 31, 2025. As of June 30, 2026 the Company had an outstanding receivable balance of $2.2 million due from a non-officer vice president of the Company.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
-Section S45
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

STOCK-BASED COMPENSATION - Summary of 2023 Awards (Details) - 2023 Plan	6 Months Ended
	Jun. 30, 2026 $ / shares shares
RSUs
Number of Shares
Outstanding and unvested—January 1 (in shares) \| shares	189,453
Granted (in shares) \| shares	416,799
Vested (in shares) \| shares	(568,362)
Forfeited (in shares) \| shares	0
Outstanding and unvested—December 31 (in shares) \| shares	37,890
Weighted-Average Grant-Date Fair Value
Outstanding and unvested—January 1 (in usd per share) \| $ / shares	$ 11.04
Granted (in usd per share) \| $ / shares	49.23
Vested (in usd per share) \| $ / shares	39.05
Forfeited (in usd per share) \| $ / shares	0
Outstanding and unvested—December 31 (in usd per share) \| $ / shares	$ 11.04
Restricted shares
Number of Shares
Outstanding and unvested—January 1 (in shares) \| shares	659,867
Granted (in shares) \| shares	1,665,525
Vested (in shares) \| shares	(1,744,726)
Forfeited (in shares) \| shares	(41,702)
Outstanding and unvested—December 31 (in shares) \| shares	538,964
Weighted-Average Grant-Date Fair Value
Outstanding and unvested—January 1 (in usd per share) \| $ / shares	$ 16.13
Granted (in usd per share) \| $ / shares	47.10
Vested (in usd per share) \| $ / shares	39.21
Forfeited (in usd per share) \| $ / shares	11.04
Outstanding and unvested—December 31 (in usd per share) \| $ / shares	$ 37.51

DESCRIPTION OF ORGANIZATION	6 Months Ended
DESCRIPTION OF ORGANIZATION	Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF ORGANIZATION	NOTE. 1 DESCRIPTION OF ORGANIZATION DESCRIPTION OF BUSINESS Quantinuum Inc. was formed as a Delaware corporation on January 20, 2026 for the purpose of completing an initial public offering and related transactions in order to carry on the business of Quantinuum, an exempted company incorporated with limited liability under the laws of the Cayman Islands (“Quantinuum (Cayman)”). Unless the context otherwise requires, all references to the “Company” we,” “us,” and “our,” refer to Quantinuum (Cayman), together with its consolidated subsidiaries, including Quantinuum Holdings, LLC, a Delaware limited liability company (Quantinuum Holdings”). Quantinuum Inc. is the sole managing member of Quantinuum Holdings and operates and controls all of the business and affairs of Quantinuum Holdings, and its direct and indirect subsidiaries, and Quantinuum Inc. conducts its business through Quantinuum Holdings and its subsidiaries. Quantinuum (Cayman) was formed in 2021 from a business combination of Honeywell Quantum Solutions and Cambridge Quantum Computing Limited. The Company is an integrated quantum computing company, providing a full-stack quantum technology solution in order to scale quantum computing and develop applications. The Company is headquartered in Broomfield, Colorado and has operations in the United Kingdom, Germany, Japan, Qatar, and Singapore. Prior to the IPO, we were a majority owned subsidiary and controlled affiliate of Honeywell International Inc. (“Honeywell”). INITIAL PUBLIC OFFERING The Company successfully closed its initial public offering on June 5, 2026 (the “IPO”), upon which the Company issued and sold 28,500,000 shares of Class A common stock, par value $0.0001 per share (the “Class A common stock”) at a public offering price of $60.00 per share, which included 500,000 shares of Class A common stock issued pursuant to the underwriters' option to purchase additional shares of Class A common stock. The IPO generated proceeds of approximately $1,628.8 million, net of underwriting discounts and commissions, which the Company used to purchase newly issued membership units (“Common Units”) from Quantinuum Holdings at a price per unit equal to the public offering price per share of Class A common stock. REORGANIZATION TRANSACTIONS In connection with the completion of the IPO, the Company executed a series of structural corporate transactions (“Reorganization Transactions” and together with the IPO, the “Transactions”): •Quantinuum Merger Sub Ltd. (“Merger Sub”), a newly formed exempted company incorporated with limited liability under the laws of the Cayman Islands, merged with and into Quantinuum (Cayman), with Quantinuum (Cayman) surviving the merger as a direct, wholly owned subsidiary of Quantinuum Holdings, pursuant to which the holders of equity interests in Quantinuum (Cayman) received membership units of Quantinuum Holdings Common Units in exchange for such interests; •Immediately following the merger of Merger Sub with and into Quantinuum (Cayman), Colorado Holdco, an exempted company incorporated with limited liability under the laws of the Cayman Islands that is taxable as a corporation for U.S. federal income tax purposes (the “Blocker Company”) merged with and into Quantinuum Inc., with Quantinuum Inc. surviving the merger (the “Blocker Merger”) in order for the unrelated third-party holders of Class A shares of the Blocker Company prior to the Reorganization Transactions that received shares of our Class A common stock in exchange for their equity interests in the aggregator Blocker Merger (the “Blocker Shareholders” (i.e., the indirect shareholders of Quantinuum (Cayman)) to hold shares of Class A common stock directly in Quantinuum Inc., to simplify both the Quantinuum (Cayman) and Quantinuum Inc. corporate structures in a tax-efficient manner and to eliminate the administrative costs associated with maintaining the Blocker Company as a standalone entity, which entity was formed solely for the purpose of aggregating the Blocker Shareholders’ investment in Quantinuum (Cayman). Pursuant to the Blocker Merger, the Blocker Shareholders received shares of our Class A common stock in exchange for their equity interests in the Blocker Company and, by virtue of the Blocker Merger, Quantinuum Inc. acquired the Common Units held by the Blocker Company. Our affiliate Honeywell had voting control over the Blocker Company prior to the Blocker Merger through its previous ownership of one non-economic voting share of the Blocker Company (for which Honeywell received nominal consideration in the Blocker Merger). Following the Blocker Merger, Honeywell does not have voting control over the shares of our Class A common stock held directly by the Blocker Shareholders; •The Company amended and restated the limited liability company agreement of Quantinuum Holdings (the “Quantinuum Holdings LLCA”) to, among other things, (i) appoint Quantinuum Inc. as the sole managing member of Quantinuum Holdings upon its acquisition of Common Units in the Blocker Merger, and (ii) provide certain redemption rights to certain pre-IPO holders of equity interests in Quantinuum (Cayman) (“Continuing Common Unitholders”); •The Company amended and restated Quantinuum Inc.’s certificate of incorporation to, among other things, provide (i) for Class A common stock, with each share of our Class A common stock entitling its holder to one vote per share on matters presented to our stockholders and on which the holders of the Class A common stock are entitled to vote; (ii) for Class B common stock, $0.0001 par value per share (the “Class B common stock”) with each share of our Class B common stock entitling its holder to one vote per share on matters presented to our stockholders and on which the holders of the Class B common stock are entitled to vote; (iii) that shares of our Class B common stock may only be held by the Continuing Common Unitholders and their respective permitted transferees and (iv) for preferred stock, which can be issued by our board of directors (the “Board of Directors”) in one or more series without stockholder approval; •The Company issued 228,107,842 shares of our Class B common stock to the Continuing Common Unitholders in exchange for nominal consideration, which is equal to the number of Common Units held by such Continuing Common Unitholders following the Transactions; •Quantinuum Inc. entered into (i) a Registration Rights Agreement with certain holders of Class A common stock and certain of the Continuing Common Unitholders and (ii) the Tax Receivable Agreement (the “Tax Receivable Agreement”) with Quantinuum Holdings and Cambridge Quantum Holdings Limited (“Cambridge Quantum”), Honeywell, Honeywell Holdings International Inc. and certain other Continuing Common Unitholders (the “TRA Parties”), as discussed in Note 13 — Income Taxes; •The Company assumed the Quantinuum (Cayman) 2023 Equity Incentive Plan, as amended (the “2023 Plan”), which originally authorized the grant of 6,443,305 Quantinuum (Cayman) Class C shares that, following the IPO were converted into 3,845,117 shares of Class A common stock reserved for issuance, and we assumed contractual obligations to grant RSU awards. In connection with these assumptions, (i) restricted Quantinuum (Cayman) Class C shares granted under the 2023 Plan were converted into 2,898,904 restricted shares of our Class A common stock, (ii) RSU awards granted under the 2023 Plan covering Quantinuum Class C shares were converted into RSU awards covering 757,816 shares of our Class A common stock and (iii) RSU awards covering 8,475,115 shares of our Class A common stock were granted to our employees pursuant to contractual obligations to grant RSU awards. Refer to Note 15 — Stock-Based Compensation for further details; and •The Company’s 6,988,121 preferred equity warrants automatically net exercised, and the resulting preferred stock was converted into 2,503,576 Common Units, and Class B common stock was issued to the Continuing Common Unitholders. The historical Warrant liability was adjusted for the final remeasurement to fair value based on the IPO price before exercise. Refer to Note 7 — Fair Value for further details. Immediately following the Transactions, Quantinuum Inc. became a holding company and its sole material assets are its equity interests in Quantinuum Holdings. As the managing member of Quantinuum Holdings, Quantinuum Inc. operates and controls all the business and affairs of Quantinuum Holdings and conducts its business through Quantinuum Holdings and its subsidiaries. The Reorganization Transactions lacked economic substance and therefore were accounted for in a manner consistent with a reorganization of entities under common control. As a result, the consolidated financial statements of Quantinuum Inc. recognize the assets and liabilities received in the Reorganization Transactions at their historical carrying amounts. Quantinuum Inc. consolidates Quantinuum Holdings in its consolidated financial statements and records a Non-controlling interest related to the Common Units held by the Continuing Common Unitholders on its Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations.

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2024
Statement [Line Items]
Temporary equity, shares outstanding (in shares)			51,135,967	51,135,967	51,135,967
Preferred stock, par value (in usd per share)	$ 0.0001
Preferred stock authorized (in shares)	20,000,000
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0
Series A Convertible Redeemable Preferred Stock
Statement [Line Items]
Temporary equity, par value (in usd per share)		$ 0.0001
Temporary equity, shares authorized (in shares)		31,983,034
Temporary equity, shares issued (in shares)		23,119,001
Temporary equity, shares outstanding (in shares)		23,119,001
Temporary equity, liquidation preference		$ 423,540,000
Series A-1 Convertible Redeemable Preferred Stock
Statement [Line Items]
Temporary equity, par value (in usd per share)		$ 0.0001
Temporary equity, shares authorized (in shares)		28,016,966
Temporary equity, shares issued (in shares)		28,016,966
Temporary equity, shares outstanding (in shares)		28,016,966
Temporary equity, liquidation preference		$ 479,930,628
Series B Convertible Redeemable Preferred Stock
Statement [Line Items]
Temporary equity, par value (in usd per share)		$ 0.0001
Temporary equity, shares authorized (in shares)		31,753,266
Temporary equity, shares issued (in shares)		31,336,698
Temporary equity, shares outstanding (in shares)		31,336,698
Temporary equity, liquidation preference		$ 878,367,645
Class A
Statement [Line Items]
Common stock, par value (in usd per share)	$ 0.0001
Common stock authorized (in shares)	2,000,000,000
Common stock, shares outstanding (in shares)	36,134,196
Common stock, shares issued (in shares)	36,134,196
Class B
Statement [Line Items]
Common stock, par value (in usd per share)	$ 0.0001
Common stock authorized (in shares)	2,000,000,000
Common stock, shares outstanding (in shares)	226,771,877
Common stock, shares issued (in shares)	226,771,877

OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Access to quantum computing hardware	$ 4,493	$ 9,141
Prepayments to vendors	17,458	9,079
Other receivables	2,154	2,422
Deferred issuance costs	0	1,741
Tax receivable	4,678	5,215
Other	3,574	156
Total other current assets	$ 32,357	$ 27,754

PROPERTY AND EQUIPMENT — NET (Tables)

6 Months Ended

Jun. 30, 2026

Property, Plant, and Equipment [Abstract]

Schedule of Property and Equipment — Net

Property and equipment—net is composed of the following (in thousands):


	June 30,		December 31,
	2026		2025
Machinery and equipment	$	119,319	$	109,533
Building improvements	97,440		23,675
Construction in progress	27,602		72,275
	244,361		205,483
Less—Accumulated depreciation	(93,750)		(84,518)
	$	150,611	$	120,965

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE. 9 COMMITMENTS AND CONTINGENCIES Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount within a range of loss can be reasonably estimated. When no amount within the range is a better estimate than any other amount, the Company accrues for the minimum amount within the range. Legal costs incurred in connection with loss contingencies are expensed as incurred. No such contingencies were recorded as of June 30, 2026 and December 31, 2025. The Company has entered into software license and subscription commitments that require future payments of $0.5 million, $1.3 million, and $0.7 million for the remainder of 2026, the year ended 2027, and the year ended 2028, respectively.

LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Operating leases:
Right-of-use asset	$ 30,911	$ 10,000
Accrued liabilities	2,793	3,313
Operating lease liabilities, non-current	29,860	7,143
Total operating lease liabilities	$ 32,653	$ 10,456
Weighted-average remaining lease term in years
Operating leases	11 years 1 month 6 days	4 years 3 months 18 days
Weighted-average discount rate
Operating leases	6.20%	3.70%

NON-CONTROLLING INTERESTS - Ownership of Common Units (Details)	1 Months Ended
	Jun. 30, 2026 shares
Ownership
Common units owned, ending balance (in shares)	262,906,073
Class A \| Quantinuum Inc.
Ownership
Exchange of Non-controlling interests (in shares)	1,335,965
Common units owned, ending balance (in shares)	36,134,196
Ownership Percentage
Exchange of Non-controlling interests	0.50%
Ownership percentage, ending balance	13.70%
Class B \| Continuing Common Unitholders
Ownership
Exchange of Non-controlling interests (in shares)	(1,335,965)
Common units owned, ending balance (in shares)	226,771,877
Ownership Percentage
Exchange of Non-controlling interests	(0.50%)
Ownership percentage, ending balance	86.30%

STOCK-BASED COMPENSATION - Quantinuum 2026 Equity Incentive Plan (Details)	Jun. 30, 2026 plan shares	Mar. 01, 2022 segment	Nov. 29, 2021 segment
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of plans \| plan	2
2026 Plan \| Class A
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards available for grant (in shares) \| shares	40,899,555
Parent-Quantinuum Plan \| RSUs \| Honeywell International Inc.
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of installments			4
Series A Common Stock Pool Plan \| Class A
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of installments		4

Unaudited Condensed Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Foreign exchange translation adjustment, tax	$ 0.0	$ 0.0	$ 0.0	$ 0.0

STOCK-BASED COMPENSATION - Quantinuum 2023 Equity Incentive Plan (Details) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 05, 2026	Dec. 20, 2023	Jun. 30, 2026	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Jun. 04, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock compensation expense			$ 6,900	$ 447,460	$ 0	$ 447,460	$ 0
Restricted shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares with not grant date (in shares)			400,791	400,791		400,791
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award service period	4 years
Shares with not grant date (in shares)			151,562	151,562		151,562
2023 Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award service period		4 years
Stock compensation expense	$ 103,800
2023 Plan \| Restricted Stock Units (RSUs) And Restricted Shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense			$ 38,700	$ 38,700		$ 38,700
Weighted-average period of recognition						1 year 3 months 18 days
2023 Plan \| Class C
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards available for grant (in shares)	3,845,117							6,443,305
2023 Plan \| Class C \| RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards available for grant (in shares)	757,816
2023 Plan \| Class A \| Restricted shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Awards available for grant (in shares)	2,898,904

FAIR VALUE - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Fair Value Disclosures [Abstract]
Loss on change in fair value of warrant liabilities	$ 47,615	$ 6,400	$ 111,815	$ 7,800

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 2,106,686	$ 762,642
Net investment in lease, current portion	5,773	5,773
Other current assets	32,357	27,754
Total current assets	2,148,696	801,841
Property and equipment—net	150,611	120,965
Right-of-use assets	30,911	10,000
Goodwill	769,631	784,822
Other intangible assets—net	105,105	114,282
Net investment in lease, non-current portion	7,216	10,102
Other assets—net	3,665	3,613
Total assets	3,229,971	1,845,625
Current liabilities:
Accrued liabilities	109,286	44,358
Total current liabilities	138,731	56,251
Warrant liability	0	38,400
License payable, non-current portion	55,345	55,345
Operating lease liabilities, non-current	29,860	7,143
Other liabilities	681	893
SHAREHOLDERS' EQUITY / QUANTINUUM (CAYMAN) EQUITY
Common stock		173,652
Preferred stock	0
Additional paid-in-capital	480,105	0
Accumulated other comprehensive (loss) income	(1,631)	0
Accumulated deficit	(65,418)	0
Total equity attributable to Quantinuum Inc. / Quantinuum (Cayman)	413,082	173,652
Non-controlling interest	2,592,272	0
Total equity	3,005,354	173,652
Total liabilities and equity	3,229,971	1,845,625
Series A Convertible Redeemable Preferred Stock
TEMPORARY EQUITY
Temporary equity		288,129
Series A-1 Convertible Redeemable Preferred Stock
TEMPORARY EQUITY
Temporary equity		400,978
Series B Convertible Redeemable Preferred Stock
TEMPORARY EQUITY
Temporary equity		824,834
Class A
SHAREHOLDERS' EQUITY / QUANTINUUM (CAYMAN) EQUITY
Common stock	3
Class B
SHAREHOLDERS' EQUITY / QUANTINUUM (CAYMAN) EQUITY
Common stock	23
Nonrelated Party
Current assets:
Accounts receivable and due from related parties	3,348	5,068
Current liabilities:
Accounts payable and due to related parties	29,393	10,620
Related Party
Current assets:
Accounts receivable and due from related parties	532	604
Right-of-use assets		1,700
Prepayment balance	14,136	0
Current liabilities:
Accounts payable and due to related parties	$ 52	1,273
Operating lease liabilities, non-current		$ 1,200

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue by Product or Service and Timing of Transfer of Goods or Services

The following table depicts the disaggregation of revenue by products or services (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Specialized quantum computing hardware	$	—	$	—	$	—	$	16,526
Cloud platform, research and support services	7,966		2,119		13,268		4,970
Prioritization incentive payment	—		$	(11)	(65)		$	(303)
Lease income	32		—		32		—
Total revenue—net	$	7,998	$	2,108	$	13,235	$	21,193

The following table depicts the disaggregation of revenue by timing of transfer of goods or services (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Revenue recognized at a point in time	$	135	$	—	$	135	$	16,526
Revenue recognized over time	7,863		2,108		13,100		4,667
	$	7,998	$	2,108	$	13,235	$	21,193

Summary of Contract Liability Balances and Accounts Receivable and Contract Asset Balances

The following table summarizes the Company’s contract liability balances (in thousands):


	June 30,
	2026		2025
Contract liabilities—January 1	$	6,608	$	1,401
Additions	4,294		390
Revenue recognized	(5,323)		(771)
Contract liabilities—June 30	$	5,579	$	1,020

The following table summarizes the Company's accounts receivable and contract asset balances (in thousands):


	June 30,		December 31,		December 31,
	2026		2025		2024
Trade receivables	2,531		3,303		1,758
Contract assets	817		1,765		2,964
Accounts receivable	$	3,348	$	5,068	$	4,722

Unaudited Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net loss	$ (596,520)	$ (56,917)	$ (733,113)	$ (87,406)
Foreign exchange translation adjustment, net of tax of zero	(4,296)	51,318	(15,711)	77,025
Comprehensive loss	(600,816)	$ (5,599)	(748,824)	$ (10,381)
Less: Comprehensive loss attributable to Quantinuum (Cayman) prior to the Transactions	(100,418)		(248,426)
Less: Comprehensive loss attributable to the non-controlling interest	(433,102)		(433,102)
Comprehensive loss attributable to Quantinuum Inc.	$ (67,296)		$ (67,296)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

LEASES - Lessor, Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Feb. 28, 2025
Leases [Abstract]
Sales-type lease term	45 months
Total assets	$ 12,989	$ 15,875	$ 21,600

STOCKHOLDERS' EQUITY - Preferred Stock (Details)	Jun. 30, 2026 shares
Equity [Abstract]
Preferred stock, shares outstanding (in shares)	0

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

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-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 946
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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Customer Concentration (Details) - Revenue Benchmark - Customer Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Customer A
Concentration Risk [Line Items]
Percentage of total revenue	18.00%		29.00%
Customer B
Concentration Risk [Line Items]
Percentage of total revenue	21.00%	22.00%	16.00%	84.00%
U.S. Government
Concentration Risk [Line Items]
Percentage of total revenue	32.00%	26.00%	29.00%
Customer D
Concentration Risk [Line Items]
Percentage of total revenue		25.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 275
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 275
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 954
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-Name Accounting Standards Codification
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+ Details

- Definition

For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.

+ References + Details

INCOME TAXES (Details)	Jun. 30, 2026
Income Tax Disclosure [Abstract]
Tax receivable agreement, tax savings retained	15.00%
Tax receivable agreement, tax savings paid to third parties	85.00%

FAIR VALUE - Assumptions used to Estimate Fair Value (Details) $ in Thousands	Jun. 30, 2026 USD ($)	Jun. 05, 2026 USD ($) shares $ / shares	Dec. 31, 2025 USD ($) yr
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant liability \| $	$ 0	$ 150,215	$ 38,400
Probability of completing an initial public offering
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input			0.70
Probability of completing a merger and acquisition transaction
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input			0.30
Term (in years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input \| yr			0.5
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input			0.65
Dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input			0
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input			0.0359
Quantinuum Inc. Class A shares issued upon net exercise
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input \| shares		2,503,576
IPO share price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input \| $ / shares		60.00

Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Jun. 30, 2026

Jun. 30, 2025

Income Statement [Abstract]

Revenue —net

$ 7,998

$ 2,108

$ 13,235

$ 21,193

Costs and expenses:

Cost of revenue

10,312

1,205

11,424

2,670

Amortization expense

4,185

2,839

8,370

5,678

Research and development expenses—net

367,292

39,667

421,951

75,440

Sales and marketing expenses

29,328

3,413

43,064

6,802

General and administrative expenses

151,907

6,071

160,603

11,569

Total costs and expenses

563,024

53,195

645,412

102,159

Loss from operations

(555,026)

(51,087)

(632,177)

(80,966)

Interest income—net

(4,719)

(999)

(9,483)

(2,343)

Loss on change in fair value of warrant liabilities

47,615

6,400

111,815

7,800

Other (income)/expense—net

(1,971)

429

(2,013)

800

Loss before taxes

(595,951)

(56,917)

(732,496)

(87,223)

Tax expense

569

617

183

Net loss

(596,520)

$ (56,917)

(733,113)

$ (87,406)

Less: Net loss attributable to Quantinuum (Cayman) prior to the Transactions

(110,087)

(246,680)

Less: Net loss attributable to the non-controlling interest

(421,015)

Net loss attributable to Quantinuum Inc.

$ (65,418)

Net loss per share attributable to common Class A shareholders - basic

^[1]

$ (1.93)

Net loss per share attributable to Class A common shareholders - diluted

^[1]

$ (1.93)

Weighted average shares used in computing net loss per share attributable to Class A common stockholders - basic

^[1]

33,914,995

Weighted average shares used in computing net loss per share attributable to Class A common stockholders - diluted

^[1]

33,914,995

[1]

Represents net loss per share of Class A common stock and weighted-average shares of Class A common stock for the period during the Transactions through June 30, 2026, which is the period effective with and following the Transactions as defined in Note 1 — Description of Organization. Refer to Note 14 — Net Earnings Per Share for additional details.

STOCKHOLDERS' EQUITY	6 Months Ended
STOCKHOLDERS' EQUITY	Jun. 30, 2026
Equity [Abstract]
STOCKHOLDERS' EQUITY	NOTE. 10 STOCKHOLDERS' EQUITY Amendment and Restatement of Certificate of Incorporation In connection with the Reorganization Transactions, the certificate of incorporation of Quantinuum, Inc. was amended and restated to, among other things, provide for the authorization of (i) 2,000,000,000 shares of Class A common stock with a par value of $0.0001 per share, (ii) 2,000,000,000 shares of Class B common stock with a par value of $0.0001 per share, and (iii) 20,000,000 shares of preferred stock with a par value of $0.0001 per share. The voting rights of the holders of Class A common stock and Class B common stock are identical. Each share of Class A common stock has economic rights. Each share of Class B common stock is cancellable upon the redemption or exchange of one Common Unit for, at Quantinuum Inc.’s election, cash or one share of Class A common stock and has no economic rights. Recapitalization from the Reorganization Transactions In connection with the Reorganization Transactions, all equity interests in Quantinuum (Cayman) were reclassified Common Units of Quantinuum Holdings. The following is a summary of the securities reclassified in connection with the Reorganization Transactions: •All issued and outstanding common stock of Quantinuum (Cayman) prior to the Reorganization Transactions were converted or exchanged into Common Units. The Continuing Common Unitholders also received Class B common stock of Quantinuum Inc. on a one-to-one basis with their Common Unit ownership, which grants voting rights identical to Class A common stock but does not entitle holders to receive any distributions or participate in any dividends. •All issued and outstanding Series A, Series A‑1 and Series B convertible redeemable preferred stock of Quantinuum (Cayman) prior to the Reorganization Transactions were converted or exchanged into Common Units. The Continuing Common Unitholders also received Class B common stock on a one-to-one basis with their Common Unit ownership. •All issued and outstanding restricted Class C share awards and RSUs of Quantinuum (Cayman) were converted into Quantinuum Inc. Class A common stock or RSUs. •All preferred equity warrants automatically exercised, with the resulting Series A convertible redeemable preferred stock of Quantinuum (Cayman) converting into Common Units consistent with other preferred holders. Following the Reorganization Transactions, Continuing Common Unitholders received 228,107,842 Common Units of Quantinuum Holdings and a corresponding number of shares of Class B common stock on a one‑for‑one basis. Blocker shareholders received 1,963,991 shares of Class A common stock in exchange for their interests in the Blocker entity. As of June 30, 2026, 36,134,196 shares of Class A common stock and 226,771,877 shares of Class B common stock were issued and outstanding. The amended and restated certificate of incorporation and the Quantinuum Holdings LLCA require the Company to, at all times, maintain (i) a one‑to‑one ratio between the number of Common Units owned by the Company and the number of shares of Class A common stock outstanding and (ii) a one‑to‑one ratio between the number of shares of Class B common stock and the number of Common Units owned by the Continuing Common Unitholders. Additional information regarding Common Units of Quantinuum Holdings is included in Note 11 — Non-Controlling Interests. Initial Public Offering As described in Note 1 — Description of Organization, in connection with the IPO, the Company issued 28,500,000 shares of Class A common stock (including 500,000 shares sold pursuant to the exercise of the underwriters option to purchase additional shares) and used the net proceeds to acquire an equivalent number of newly issued Common Units of Quantinuum Holdings. Preferred Stock As of June 30, 2026, there are no shares of preferred stock outstanding. Under the terms of the Company’s amended and restated certificate of incorporation, the Board of Directors is authorized, without further stockholder approval, to issue shares of preferred stock in one or more series. The Board of Directors has the discretion to determine the number and designation of such series and the powers, rights, preferences, privileges, including voting rights, dividend rights, conversion rights, redemption privileges and liquidation preferences, and the qualifications, limitations, or restrictions, of each series of preferred stock.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 20
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

FAIR VALUE - Warrant Liability Roll Forward (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Warrant Liability Balance [Roll Forward]
Warrant liability—January 1				$ 38,400
Warrants issued				0
Warrants exercised	$ (150,215)			(150,215)
Fair market evaluation		$ 47,615	$ 6,400	111,815	$ 7,800
Warrant liability—June 30	$ 0	$ 0		$ 0

STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Shares Awards and RSU Awards Activity

The following table is a summary of the restricted share and RSU awards activity under the 2023 Plan on a post-conversion basis and related information for the six months ended June 30, 2026:


	RSUs			Restricted Shares
	Number of Shares	Weighted-Average Grant-Date Fair Value		Number of Shares	Weighted-Average Grant-Date Fair Value
Outstanding and unvested—January 1	189,453	$	11.04	659,867	$	16.13
Granted	416,799	49.23		1,665,525	47.10
Vested	(568,362)	39.05		(1,744,726)	39.21
Forfeited	—	—		(41,702)	11.04
Outstanding and unvested—June 30	37,890	$	11.04	538,964	$	37.51

The following table is a summary of the RSU awards activity under the 2026 Plan and related information for the six months ended June 30, 2026:


	RSUs
	Number of Shares	Weighted-Average Grant-Date Fair Value
Outstanding and unvested—January 1	—	$	—
Granted	8,800,759	61.79
Vested	(3,098,250)	60.00
Forfeited	—	—
Outstanding and unvested—June 30	5,702,509	$	62.77

The following table is a summary of the stock option activity under the IPO Equity Awards and related information for the six months ended June 30, 2026:


	Options
	Number of Options	Weighted-Average Grant-Date Fair Value
Outstanding and unvested—January 1	—	$	—
Granted	122,791	38.28
Vested	—	—
Forfeited	—	—
Outstanding and unvested—June 30	122,791	$	38.28


Assumptions:
Expected volatility	65.00		%
Risk-free interest rate	4.33		%
Expected dividend yield	—		%
Expected life (in years)	6.25
Exercise price	$	60.00

Summary of the Total Stock Compensation Expense


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cost of revenue	$	6,331	$	—	$	6,331	$	—
Research and development expenses—net	294,901		—		294,901		—
Sales and marketing expenses	17,217		—		17,217		—
General and administrative expenses	129,011		—		129,011		—
Total Stock compensation expense	$	447,460	$	—	$	447,460	$	—

LEASES (Tables)

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Summary of Lease Costs and Supplemental Cash Flow Information

The following table summarizes the Company’s lease costs (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating lease cost	$	1,130	$	748	$	2,194	$	1,457
Variable lease cost	1,011		1,099		1,778		1,817
Short-term lease cost	262		33		304		141
Total lease cost	$	2,403	$	1,880	$	4,276	$	3,415

Supplemental cash flow information related to leases was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,005	$	686	$	1,996	$	1,348
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	8,061	$	489	$	22,114	$	823

Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases was as follows (in thousands):


	June 30,		December 31,
	2026		2025
Operating leases:
Right-of-use assets	$	30,911	$	10,000
Total assets	30,911		10,000
Accrued liabilities	2,793		3,313
Operating lease liabilities, non-current	29,860		7,143
Total operating lease liabilities	$	32,653	$	10,456


	June 30,		December 31,
	2026		2025
Weighted-average remaining lease term in years
Operating leases	11.1		4.3
Weighted-average discount rate
Operating leases	6.2	%	3.7	%

Summary of Maturities of Operating Leases

As of June 30, 2026, maturities of operating lease liabilities were as follows (in thousands):


	June 30,
	2026
Remainder of 2026	$	2,344
2027	4,647
2028	4,307
2029	4,102
2030	3,685
Thereafter	27,782
Total lease payments	46,867
Less - interest	(14,214)
Total	$	32,653

Summary of Lease Income

The lease income was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Revenue—net	$	32	$	—	$	32	$	—
Total lease income	$	32	$	—	$	32	$	—

The lease income was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Revenue—net	$	—	$	—	$	—	$	16,526
Total lease income	$	—	$	—	$	—	$	16,526

Summary of Future Minimum Lease Payments to be Received Under the Sublease

As of June 30, 2026, future minimum lease payments to be received under the sublease are as follows (in thousands):


Remainder of 2026	$	190
2027	390
Total future minimum lease payments	$	580

Supplemental Balance Sheet Information Related to Sales-Type Lease

Supplemental balance sheet information related to sales-type lease was as follows (in thousands):


	June 30,		December 31,
	2026		2025
Net investment in lease, current portion	$	5,773	$	5,773
Net investment in lease, non-current portion	7,216		10,102
Total assets	$	12,989	$	15,875

Summary of Future Minimum Lease Payments to be Received Under the Sales-Type Lease

As of June 30, 2026, future minimum lease payments to be received under the sales-type lease are as follows (in thousands):


Remainder of 2026	$	2,887
2027	5,773
2028	4,329
Total future minimum lease payments	$	12,989

NON-CONTROLLING INTERESTS - Summary of the Effect Of Changes in Ownership on the Company's Equity (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			6 Months Ended
	Jun. 30, 2026	Jun. 30, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Noncontrolling Interest [Line Items]
Net loss		$ (596,520)	$ (56,917)	$ (30,489)	$ (733,113)	$ (87,406)
Accumulated other comprehensive (loss) income:
Foreign exchange translation adjustment, net of tax of zero		$ (4,296)	51,318	25,707	$ (15,711)	$ 77,025
Accumulated other comprehensive (loss)/income
Accumulated other comprehensive (loss) income:
Foreign exchange translation adjustment, net of tax of zero			$ 51,318	$ 25,707
Quantinuum Inc.
Noncontrolling Interest [Line Items]
Net loss	$ (65,418)
Additional paid-in capital:
Total effect of changes in ownership interest on equity attributable to Quantinuum Inc.	(9,033)
Quantinuum Inc. \| Accumulated other comprehensive (loss)/income
Accumulated other comprehensive (loss) income:
Foreign exchange translation adjustment, net of tax of zero	(1,878)
Non-controlling interest adjustment for changes in proportionate ownership in Quantinuum Holdings	9
Quantinuum Inc. \| Additional paid-in-capital
Accumulated other comprehensive (loss) income:
Non-controlling interest adjustment for changes in proportionate ownership in Quantinuum Holdings	14,716
Additional paid-in capital:
Stock-based compensation	316,777
Increase (decrease) as a result of non-controlling interest adjustment for stock-based compensation	$ (273,239)

STOCK-BASED COMPENSATION - Summary of Assumptions Used (Details) - Hazra IPO Equity Awards	Jun. 03, 2026 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected volatility	65.00%
Risk-free interest rate	4.33%
Expected dividend yield	0.00%
Expected life (in years)	6 years 3 months
Exercise price	$ 60.00

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

STOCKHOLDERS' EQUITY - Recapitalization from the Reorganization Transactions (Details)	6 Months Ended
	Jun. 30, 2026 shares
Class B
Class of Stock [Line Items]
Common stock, recapitalization exchange ratio	1
Temporary equity, recapitalization exchange ratio	1
Shares received (in shares)	228,107,842
Common stock, shares issued (in shares)	226,771,877
Common stock, shares outstanding (in shares)	226,771,877
Common stock to common units owned	1
Class A
Class of Stock [Line Items]
Common stock, shares issued (in shares)	36,134,196
Common stock, shares outstanding (in shares)	36,134,196
Common stock to common units owned	1
Class A \| Blocker
Class of Stock [Line Items]
Shares received (in shares)	1,963,991

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

OTHER INTANGIBLE ASSET—NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Intangible Asset, Finite-Lived [Line Items]
Gross Carrying Amount	$ 159,063		$ 159,063		$ 160,816
Accumulated Amortization	(53,958)		(53,958)		(46,534)
Net Carrying Amount	105,105		105,105		114,282
Intangible assets amortization expense	4,185	$ 2,839	8,370	$ 5,678
Patents and technology
Intangible Asset, Finite-Lived [Line Items]
Gross Carrying Amount	79,209		79,209		80,768
Accumulated Amortization	(45,424)		(45,424)		(41,269)
Net Carrying Amount	33,785		33,785		39,499
Licensed technology
Intangible Asset, Finite-Lived [Line Items]
Gross Carrying Amount	69,952		69,952		69,952
Accumulated Amortization	(2,690)		(2,690)		0
Net Carrying Amount	67,262		67,262		69,952
Customer relationships
Intangible Asset, Finite-Lived [Line Items]
Gross Carrying Amount	4,951		4,951		5,048
Accumulated Amortization	(1,302)		(1,302)		(1,138)
Net Carrying Amount	3,649		3,649		3,910
Trademarks
Intangible Asset, Finite-Lived [Line Items]
Gross Carrying Amount	4,951		4,951		5,048
Accumulated Amortization	(4,542)		(4,542)		(4,127)
Net Carrying Amount	$ 409		$ 409		$ 921

- Definition

Amount of amortization expense for finite-lived intangible asset. Excludes goodwill and capitalized cost for software to be sold, leased, or marketed.

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- Definition

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+ Details

FAIR VALUE

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

FAIR VALUE

NOTE. 7 FAIR VALUE

Due to their short-term nature, the carrying amounts reported in the Company’s Condensed Consolidated Financial Statements approximate the fair value for Cash and cash equivalents, Accounts receivable, Accounts payable, and Accrued liabilities.

The Company utilized a hybrid method allocation model consisting of probability-weighted scenarios and an option pricing model to calculate the fair value of the warrants at the issuance date, December 22, 2023 and subsequent measurement dates. The Company recognized a change in fair value of the warrant liability of a loss of $47.6 million and $6.4 million for the three months ended June 30, 2026 and 2025, respectively. The Company recognized a change in fair value of the warrant liability of a loss of $111.8 million and $7.8 million for the six months ended June 30, 2026 and 2025, respectively.

The estimated fair value of the Warrant liability is determined using Level 3 inputs. Inherent in an option pricing model are assumptions related to expected share-price volatility, expected life, risk-free interest rate and dividend yield. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the warrants. The expected life of the warrants is assumed to be equivalent to the expected

time to liquidity. The warrants were net exercised upon the IPO transaction date and converted to equity.


	2026
Warrant liability—January 1	$	38,400
Warrants issued	—
Warrants exercised	(150,215)
Fair market evaluation	111,815
Warrant liability—June 30	$	—

The following table summarizes the assumptions used in estimating the fair value of the Warrant liability as of December 31, 2025 (dollars in thousands):


	December 31,
	2025
Probability of completing an initial public offering	70		%
Probability of completing a merger and acquisition transaction	30		%
Term (in years)	0.5
Volatility	65		%
Dividend yield	—		%
Risk-free rate	3.59		%
Fair value of warrants	$	38,400

The following table summarizes the assumptions used in estimating the fair value of the Warrant liability prior to the Transactions (dollars in thousands, except per share data):




Exercise type	Net (cashless)
Quantinuum Inc. Class A shares issued upon net exercise	2,503,576
IPO share price	$	60.00
Fair value upon net exercise	$	150,215

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2026
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE. 13 INCOME TAXES The Company is treated as a corporation for tax purposes and is subject to federal, state, local and foreign taxes with respect to allocable share of any net taxable income from Quantinuum Holdings. Quantinuum Holdings is a limited liability company treated as a partnership for income tax purposes and its taxable income or loss is passed through to its members, including the Company. Quantinuum Holdings’ foreign subsidiaries are taxed in the foreign jurisdictions in which they operate, and accruals for such taxes are included in the Company’s condensed consolidated financial statements. For the periods presented prior to the Reorganization Transactions and IPO, the reported income taxes represent those of Quantinuum Holdings. For the three and six months ended June 30, 2026, the Company’s effective tax rate differed from the U.S. statutory tax rate of 21% primarily due to non-controlling interest and having a full valuation allowance in the U.S. and UK. For the three and six months ended June 30, 2025, the Company’s effective tax rate differed from the U.S. statutory tax rate of 21% primarily due to the pass-through income generated at Quantinuum Holdings. The Company has deferred tax assets as a result of temporary differences between the taxable income on its foreign tax returns and U.S. GAAP income and foreign net operating loss carry forwards. A deferred tax asset generally represents future tax benefits to be received when temporary differences previously reported in the Company’s consolidated financial statements become deductible for income tax purposes, when net operating loss carry forwards could be applied against future taxable income, or when tax credit carry forwards are utilized in the Company’s tax returns. Realization of deferred tax assets is based, in part, on the Company’s judgment and various factors including reversal of deferred tax liabilities, and the Company’s ability to generate future taxable income in jurisdictions where such assets have arisen and potential tax planning strategies. Valuation allowances are recorded in order to reduce the deferred tax assets to the amount expected to be realized in the future. As of June 30, 2026 and December 31, 2025, there were no unrecognized tax benefits that if recognized would be recorded as a component of Tax expense. Estimated interest and penalties related to the underpayment of income taxes is classified as a component of Tax expense in the Unaudited Condensed Consolidated Statements of Operations. There were no accrued interest and penalties as of June 30, 2026 and December 31, 2025. Tax Receivable Agreement In connection with the Reorganization Transactions, the Company entered into a Tax Receivable Agreement with Quantinuum Holdings and the TRA Parties. Under the Tax Receivable Agreement, the Company will retain 15% of certain available tax savings, and will be required to pay the Members (as defined in the Tax Receivable Agreement) the remaining 85% of such tax savings, if any, that are realized or deemed realized as a result of tax attributes (i.e., deferred tax assets (“DTA”)). The amounts of any tax benefit to the Company that arises from future exchanges or redemptions of Common Units will vary depending on a number of factors, including, but not limited to, the timing of any future redemptions or exchanges and the price of shares of Class A common stock at the time of such future redemption or exchange. The Company will only recognize a DTA for financial reporting purposes when it is “more-likely-than-not” that the tax benefit will be realized. Based on the Company’s assessment, it is more likely than not that we will not realize the tax benefit of any DTA resulting from the Reorganization Transactions, and therefore, we have established a full valuation against our U.S. DTA. The liability for the Tax Receivable Agreement arrangement is in the scope of ASC 450, Contingencies; however, since the U.S. DTA is not considered to be realizable, the Tax Receivable Agreement liability is not recognized in the Condensed Consolidated Financial Statements as of June 30, 2026.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 12C
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 270
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-Section 50
-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Jun. 30, 2026 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Payment for software license and subscription commitments, remainder of fiscal year	$ 0.5
Payment for software license and subscription commitments, 2027	1.3
Payment for software license and subscription commitments, 2028	$ 0.7

SUBSEQUENT EVENTS (Details)	1 Months Ended
SUBSEQUENT EVENTS (Details)	Jul. 31, 2026 shares
Class A \| Subsequent Event
Subsequent Event [Line Items]
Shares issued (in shares)	357,592

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2026
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE. 18 SUBSEQUENT EVENTS In preparing the Condensed Consolidated Financial Statements, the Company has evaluated the events and transactions for their recognition or disclosure subsequent to June 30, 2026, and through August 13, 2026, the date the Condensed Consolidated Financial Statements were available for issuance. In July 2026, the Company entered into a statement of work (“SOW”) with Oracle under which the Company will provide quantum computing services including the installation of a quantum computing system. The SOW is multi-year and the value will be recognized as performance obligations are completed over the term of the arrangement. During July 2026, an aggregate of 357,592 shares of Class A common stock were issued to Quantinuum Holdings members in connection with such members’ redemptions of an equivalent number of Common Units and corresponding cancellation and retirement of an equivalent number of Class B common stock. Such retired shares of Class B common stock may not be reissued. The redemptions occurred pursuant to the terms of the Quantinuum Holdings LLC Agreement.

OTHER CURRENT ASSETS (Tables)

6 Months Ended

Jun. 30, 2026

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Current Assets

Other current assets is composed of the following (in thousands):


	June 30,		December 31,
	2026		2025
Access to quantum computing hardware	$	4,493	$	9,141
Prepayments to vendors	17,458		9,079
Other receivables	2,154		2,422
Deferred issuance costs	—		1,741
Tax receivable	4,678		5,215
Other	3,574		156
	$	32,357	$	27,754

PROPERTY AND EQUIPMENT — NET

6 Months Ended

Jun. 30, 2026

Property, Plant, and Equipment [Abstract]

PROPERTY AND EQUIPMENT — NET

NOTE. 4 PROPERTY AND EQUIPMENT—NET

Property and equipment—net is composed of the following (in thousands):


	June 30,		December 31,
	2026		2025
Machinery and equipment	$	119,319	$	109,533
Building improvements	97,440		23,675
Construction in progress	27,602		72,275
	244,361		205,483
Less—Accumulated depreciation	(93,750)		(84,518)
	$	150,611	$	120,965

Depreciation expense was $5.3 million and $4.6 million for the three months ended June 30, 2026 and 2025, respectively. Depreciation expense was $10.0 million and $9.0 million for the six months ended June 30, 2026 and 2025, respectively. Depreciation is included within Cost of revenue, Research and development expenses—net, Sales and marketing expenses, and General and administrative expenses in the Unaudited Condensed Consolidated Statements of Operations.

- Definition

The entire disclosure for property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/360/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-7

+ Details

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
LEASES - Lease Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Leases [Abstract]
Operating lease cost	$ 1,130	$ 748	$ 2,194	$ 1,457
Variable lease cost	1,011	1,099	1,778	1,817
Short-term lease cost	262	33	304	141
Total lease cost	$ 2,403	$ 1,880	$ 4,276	$ 3,415

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS - Accounts Receivable and Contract Asset Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Dec. 31, 2024
Disaggregation of Revenue [Line Items]
Trade receivables	$ 2,531	$ 3,303	$ 1,758
Contract assets	817	1,765	2,964
Nonrelated Party
Disaggregation of Revenue [Line Items]
Accounts receivable	$ 3,348	$ 5,068	$ 4,722

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

LEASES

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

LEASES

NOTE. 8 LEASES

LESSEE

The Company's lease portfolio consists of operating leases primarily for office space and research and development sites. The majority of our leases have remaining lease terms of 1-14 years. The current portion of operating lease liabilities are included in Accrued liabilities, and the non-current portion of operating lease liabilities are included in Operating lease liabilities, non-current in the Condensed Consolidated Balance Sheets.

In the first quarter of 2026, the Company extended an existing lease in Broomfield, Colorado, resulting in an additional right-of-use asset of $14.1 million and an increase in operating lease liabilities of $15.2 million.

In the second quarter of 2026, the Company assumed the head lease of its existing sublease with a related party, refer to Note 17 — Related Party Transactions for further details. As a result, the Company recorded an increase in right-of-use assets of $9.5 million and a corresponding increase in operating lease liabilities of $9.5 million.

The following table summarizes the Company’s lease costs (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating lease cost	$	1,130	$	748	$	2,194	$	1,457
Variable lease cost	1,011		1,099		1,778		1,817
Short-term lease cost	262		33		304		141
Total lease cost	$	2,403	$	1,880	$	4,276	$	3,415

Supplemental cash flow information related to leases was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,005	$	686	$	1,996	$	1,348
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	8,061	$	489	$	22,114	$	823

Supplemental balance sheet information related to leases was as follows (in thousands):


	June 30,		December 31,
	2026		2025
Operating leases:
Right-of-use assets	$	30,911	$	10,000
Total assets	30,911		10,000
Accrued liabilities	2,793		3,313
Operating lease liabilities, non-current	29,860		7,143
Total operating lease liabilities	$	32,653	$	10,456


	June 30,		December 31,
	2026		2025
Weighted-average remaining lease term in years
Operating leases	11.1		4.3
Weighted-average discount rate
Operating leases	6.2	%	3.7	%

As of June 30, 2026, maturities of operating lease liabilities were as follows (in thousands):


	June 30,
	2026
Remainder of 2026	$	2,344
2027	4,647
2028	4,307
2029	4,102
2030	3,685
Thereafter	27,782
Total lease payments	46,867
Less - interest	(14,214)
Total	$	32,653

LESSOR

Operating Leases

During the second quarter of 2026, the Company entered into a sublease arrangement, refer to Note 17 — Related Party Transactions for further details. The sublease is classified as an operating lease and has a term of 19 months , with fixed monthly payments.

The lease income was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Revenue—net	$	32	$	—	$	32	$	—
Total lease income	$	32	$	—	$	32	$	—

As of June 30, 2026, future minimum lease payments to be received under the sublease are as follows (in thousands):


Remainder of 2026	$	190
2027	390
Total future minimum lease payments	$	580

Sales-type lease

The Company has an agreement with a customer to provide exclusive on premises access to a quantum processing unit, which is classified as a sales-type lease. The lease term is 45 months with fixed quarterly payments.

At lease commencement in 2025, the Company recorded a total of $21.6 million in net investment in lease and derecognized the underlying asset. The difference between the carrying amount of the derecognized asset and the net investment in the lease was recognized as a point in time Revenue—net. No interest income is accrued over the lease term.

There is no guaranteed or unguaranteed residual value associated with this sales-type lease. The current portion of sales-type lease is included in Net investment in lease, current, and the non-current portion of sales-type lease is included in Net investment in lease, non-current in the Condensed Consolidated Balance Sheets.

The lease income was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Revenue—net	$	—	$	—	$	—	$	16,526
Total lease income	$	—	$	—	$	—	$	16,526

Supplemental balance sheet information related to sales-type lease was as follows (in thousands):


	June 30,		December 31,
	2026		2025
Net investment in lease, current portion	$	5,773	$	5,773
Net investment in lease, non-current portion	7,216		10,102
Total assets	$	12,989	$	15,875

As of June 30, 2026, future minimum lease payments to be received under the sales-type lease are as follows (in thousands):


Remainder of 2026	$	2,887
2027	5,773
2028	4,329
Total future minimum lease payments	$	12,989

LEASES

NOTE. 8 LEASES

LESSEE

The following table summarizes the Company’s lease costs (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating lease cost	$	1,130	$	748	$	2,194	$	1,457
Variable lease cost	1,011		1,099		1,778		1,817
Short-term lease cost	262		33		304		141
Total lease cost	$	2,403	$	1,880	$	4,276	$	3,415

Supplemental cash flow information related to leases was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,005	$	686	$	1,996	$	1,348
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	8,061	$	489	$	22,114	$	823

Supplemental balance sheet information related to leases was as follows (in thousands):


	June 30,		December 31,
	2026		2025
Operating leases:
Right-of-use assets	$	30,911	$	10,000
Total assets	30,911		10,000
Accrued liabilities	2,793		3,313
Operating lease liabilities, non-current	29,860		7,143
Total operating lease liabilities	$	32,653	$	10,456


	June 30,		December 31,
	2026		2025
Weighted-average remaining lease term in years
Operating leases	11.1		4.3
Weighted-average discount rate
Operating leases	6.2	%	3.7	%

As of June 30, 2026, maturities of operating lease liabilities were as follows (in thousands):


	June 30,
	2026
Remainder of 2026	$	2,344
2027	4,647
2028	4,307
2029	4,102
2030	3,685
Thereafter	27,782
Total lease payments	46,867
Less - interest	(14,214)
Total	$	32,653

LESSOR

Operating Leases

The lease income was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Revenue—net	$	32	$	—	$	32	$	—
Total lease income	$	32	$	—	$	32	$	—

As of June 30, 2026, future minimum lease payments to be received under the sublease are as follows (in thousands):


Remainder of 2026	$	190
2027	390
Total future minimum lease payments	$	580

Sales-type lease

The lease income was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Revenue—net	$	—	$	—	$	—	$	16,526
Total lease income	$	—	$	—	$	—	$	16,526

Supplemental balance sheet information related to sales-type lease was as follows (in thousands):


	June 30,		December 31,
	2026		2025
Net investment in lease, current portion	$	5,773	$	5,773
Net investment in lease, non-current portion	7,216		10,102
Total assets	$	12,989	$	15,875

As of June 30, 2026, future minimum lease payments to be received under the sales-type lease are as follows (in thousands):


Remainder of 2026	$	2,887
2027	5,773
2028	4,329
Total future minimum lease payments	$	12,989

NET EARNINGS PER SHARE - Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Mar. 31, 2025

Jun. 30, 2026

Jun. 30, 2025

Numerator:

Net loss

$ (596,520)

$ (56,917)

$ (30,489)

$ (733,113)

$ (87,406)

Less: Net loss attributable to Quantinuum (Cayman) prior to the Transactions

(110,087)

(246,680)

Less: Net loss attributable to the non-controlling interest

(421,015)

Net loss attributable to Quantinuum Inc.

$ (65,418)

Denominator:

Weighted average shares used in computing net loss per share attributable to Class A common stockholders - basic

^[1]

33,914,995

Weighted average shares used in computing net loss per share attributable to Class A common stockholders - diluted

^[1]

33,914,995

Net loss per share attributable to common Class A shareholders - basic

^[1]

$ (1.93)

Net loss per share attributable to Class A common shareholders - diluted

^[1]

$ (1.93)

[1]

NET EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

NET EARNINGS PER SHARE

NOTE. 14 NET EARNINGS PER SHARE

The following table presents the calculation of basic and diluted net loss per share for the period following the Reorganization Transactions during the Transactions through June 30, 2026 (in thousands, except share and per share data):


	Three Months Ended June 30,		Six Months Ended June 30,
	2026		2026
Numerator:
Net loss	$	(596,520)	$	(733,113)
Less: Net loss attributable to Quantinuum (Cayman) prior to the Transactions	(110,087)		(246,680)
Less: Net loss attributable to the non-controlling interest	(421,015)		(421,015)
Net loss attributable to Quantinuum Inc.	$	(65,418)	$	(65,418)

Denominator:
Weighted average shares used in computing net loss per share attributable to Class A common stockholders - basic and diluted (1)	33,914,995		33,914,995
Net loss per share attributable to Class A common shareholders - basic and diluted	$	(1.93)	$	(1.93)

(1) For the calculation of weighted-average shares outstanding, the Company assumes that shares issued upon the vesting of share-based compensation awards during the period were outstanding from the midpoint of the reporting period. This practical expedient is applied because the difference between this method and using precise daily vesting dates is immaterial to basic and diluted earnings per share.

Shares of Class B common stock do not share in the earnings or losses of Quantinuum, Inc. and are therefore not participating securities. As such, separate presentation of basic and diluted net loss per share of Class B common stock under the two-class method has not been presented.

During the period during the Transactions through June 30, 2026, the Company incurred net losses and, therefore, the effect of the Company’s potentially dilutive securities were not included in the calculation of diluted loss per share as the effect would be anti-dilutive. The following table contains outstanding weighted-average share totals with a potentially dilutive impact:


	Three Months Ended June 30,	Six Months Ended June 30,
	2026	2026
RSUs	5,756,251	5,756,251
Restricted shares	538,964	538,964
Common Units	227,582,892	227,582,892
Stock options	122,791	122,791
Total	234,000,898	234,000,898

RELATED PARTY TRANSACTIONS - Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Related Party Transaction [Line Items]
Right-of-use asset	$ 30,911		$ 30,911		$ 10,000
Accrued liabilities	2,793		2,793		3,313
Operating lease liabilities, non-current	29,860		29,860		7,143
Operating lease cost	1,130	$ 748	2,194	$ 1,457
Variable lease cost	1,011	1,099	1,778	1,817
Related Party
Related Party Transaction [Line Items]
Right-of-use asset					1,700
Accrued liabilities					600
Operating lease liabilities, non-current					$ 1,200
Operating lease cost	100	100	300	200
Variable lease cost	$ 500	$ 500	$ 1,100	$ 1,100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

LEASES - Lessee (Details) - USD ($) $ in Millions	3 Months Ended
LEASES - Lessee (Details) - USD ($) $ in Millions	Jun. 30, 2026	Mar. 31, 2026
Broomfield, Colorado
Lessee, Lease, Description [Line Items]
Additional right-of-use asset	$ 9.5	$ 14.1
Additional operating lease liability	$ 9.5	$ 15.2
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	14 years

LEASES - Lessor, Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Leases [Abstract]
Revenue—net	$ 0	$ 0	$ 0	$ 16,526
Total lease income	$ 0	$ 0	$ 0	$ 16,526

NON-CONTROLLING INTERESTS - Additional Information (Details) - shares	Jun. 30, 2026	Jun. 05, 2026
Noncontrolling Interest [Line Items]
Common units owned (in shares)	262,906,073	262,906,073
Class B \| Continuing Common Unitholders
Noncontrolling Interest [Line Items]
Common units owned (in shares)	226,771,877	228,107,842
Interest in Quantinuum Holdings held by Quantinuum Inc. (as a percentage)	86.30%	86.80%
Class A \| Quantinuum Inc.
Noncontrolling Interest [Line Items]
Common units owned (in shares)	36,134,196	34,798,231
Interest in Quantinuum Holdings held by Quantinuum Inc. (as a percentage)	13.70%	13.20%

RELATED PARTY TRANSACTIONS - Transition Service Agreement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Related Party \| Transition Service Agreement
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	$ 0.2	$ 0.2	$ 0.3	$ 0.3

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

STOCK-BASED COMPENSATION - Summary of 2026 Plan (Details) - RSUs - 2026 Plan	6 Months Ended
	Jun. 30, 2026 $ / shares shares
Number of Shares
Outstanding and unvested—January 1 (in shares) \| shares	0
Granted (in shares) \| shares	8,800,759
Vested (in shares) \| shares	(3,098,250)
Forfeited (in shares) \| shares	0
Outstanding and unvested—December 31 (in shares) \| shares	5,702,509
Weighted-Average Grant-Date Fair Value
Outstanding and unvested—January 1 (in usd per share) \| $ / shares	$ 0
Granted (in usd per share) \| $ / shares	61.79
Vested (in usd per share) \| $ / shares	60.00
Forfeited (in usd per share) \| $ / shares	0
Outstanding and unvested—December 31 (in usd per share) \| $ / shares	$ 62.77

NET EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Schedule of Earnings Per Share - Basic and Diluted


	Three Months Ended June 30,		Six Months Ended June 30,
	2026		2026
Numerator:
Net loss	$	(596,520)	$	(733,113)
Less: Net loss attributable to Quantinuum (Cayman) prior to the Transactions	(110,087)		(246,680)
Less: Net loss attributable to the non-controlling interest	(421,015)		(421,015)
Net loss attributable to Quantinuum Inc.	$	(65,418)	$	(65,418)

Denominator:
Weighted average shares used in computing net loss per share attributable to Class A common stockholders - basic and diluted (1)	33,914,995		33,914,995
Net loss per share attributable to Class A common shareholders - basic and diluted	$	(1.93)	$	(1.93)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


	Three Months Ended June 30,	Six Months Ended June 30,
	2026	2026
RSUs	5,756,251	5,756,251
Restricted shares	538,964	538,964
Common Units	227,582,892	227,582,892
Stock options	122,791	122,791
Total	234,000,898	234,000,898

ACCRUED LIABILITIES - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Payables and Accruals [Abstract]
Customer advances and deferred income	$ 5,322	$ 6,094
Compensation, benefit and other employee related	14,422	11,028
Employee withholding taxes payable	48,269	817
Operating lease liability	2,793	3,313
Tax liabilities	568	1,943
Accrued legal and professional services	20,982	9,713
Accrued leasehold improvements in progress	0	2,478
Accrued issuance costs	2,353	1,741
License payable, current portion	4,607	4,607
Accrued interest	2,630	0
Other (primarily operating expenses)	7,340	2,624
Total accrued liabilities, current	$ 109,286	$ 44,358

OTHER CURRENT ASSETS

6 Months Ended

Jun. 30, 2026

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

OTHER CURRENT ASSETS

NOTE. 3 OTHER CURRENT ASSETS

Other current assets is composed of the following (in thousands):


	June 30,		December 31,
	2026		2025
Access to quantum computing hardware	$	4,493	$	9,141
Prepayments to vendors	17,458		9,079
Other receivables	2,154		2,422
Deferred issuance costs	—		1,741
Tax receivable	4,678		5,215
Other	3,574		156
	$	32,357	$	27,754

FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Summary of Warrant Liability Balances

The warrants were net exercised upon the IPO transaction date and converted to equity.


	2026
Warrant liability—January 1	$	38,400
Warrants issued	—
Warrants exercised	(150,215)
Fair market evaluation	111,815
Warrant liability—June 30	$	—

Summary of Assumptions used in Estimating Fair Value of Warrant Liability

The following table summarizes the assumptions used in estimating the fair value of the Warrant liability as of December 31, 2025 (dollars in thousands):


	December 31,
	2025
Probability of completing an initial public offering	70		%
Probability of completing a merger and acquisition transaction	30		%
Term (in years)	0.5
Volatility	65		%
Dividend yield	—		%
Risk-free rate	3.59		%
Fair value of warrants	$	38,400

The following table summarizes the assumptions used in estimating the fair value of the Warrant liability prior to the Transactions (dollars in thousands, except per share data):




Exercise type	Net (cashless)
Quantinuum Inc. Class A shares issued upon net exercise	2,503,576
IPO share price	$	60.00
Fair value upon net exercise	$	150,215

PROPERTY AND EQUIPMENT — NET (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Property, Plant, and Equipment [Line Items]
Property and equipment, before accumulated depreciation	$ 244,361		$ 244,361		$ 205,483
Less—Accumulated depreciation	(93,750)		(93,750)		(84,518)
Total property and equipment, after accumulated depreciation	150,611		150,611		120,965
Depreciation	5,300	$ 4,600	10,000	$ 9,000
Machinery and equipment
Property, Plant, and Equipment [Line Items]
Property and equipment, before accumulated depreciation	119,319		119,319		109,533
Building improvements
Property, Plant, and Equipment [Line Items]
Property and equipment, before accumulated depreciation	97,440		97,440		23,675
Construction in progress
Property, Plant, and Equipment [Line Items]
Property and equipment, before accumulated depreciation	$ 27,602		$ 27,602		$ 72,275

- Definition

Amount of accumulated depreciation, depletion, and amortization of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 905
-SubTopic 360
-Name Accounting Standards Codification
-Section 25
-Paragraph 4
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 360
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 40
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482558/350-40-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-7A

+ Details

- Definition

Amount, after accumulated depreciation, depletion, and amortization, of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 360
-Name Accounting Standards Codification
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-Paragraph 1
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

+ Details

LEASES - Lessor, Future Minimum Lease Payments to be Received Under the Sales-Type Lease (Details) $ in Thousands	Jun. 30, 2026 USD ($)
Sales-Type and Direct Financing Leases, Payment to be Received, Fiscal Year Maturity [Abstract]
Remainder of 2026	$ 2,887
2027	5,773
2028	4,329
Total future minimum lease payments	$ 12,989

STOCKHOLDERS' EQUITY - Initial Public Offering (Details)	Jun. 05, 2026 shares
Class A \| IPO
Class of Stock [Line Items]
Shares issued (in shares)	28,500,000
Over-Allotment Option \| Class A
Class of Stock [Line Items]
Shares issued (in shares)	500,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

ACCRUED LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2026

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities is composed of the following (in thousands):


	June 30,		December 31,
	2026		2025
Customer advances and deferred income	$	5,322	$	6,094
Compensation, benefit and other employee related	14,422		11,028
Employee withholding taxes payable	48,269		817
Operating lease liability	2,793		3,313
Tax liabilities	568		1,943
Accrued legal and professional services	20,982		9,713
Accrued leasehold improvements in progress	—		2,478
Accrued issuance costs	2,353		1,741
License payable, current portion	4,607		4,607
Accrued interest	2,630		—
Other (primarily operating expenses)	7,340		2,624
	$	109,286	$	44,358

OTHER INTANGIBLE ASSET—NET (Tables)

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Schedule of Other Intangible Assets

Other intangible assets—net are comprised of (in thousands):


	June 30, 2026						December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Determinable life intangibles:
Patents and technology	$	79,209	$	(45,424)	$	33,785	$	80,768	$	(41,269)	$	39,499
Licensed technology	69,952		(2,690)		67,262		69,952		—		69,952
Customer relationships	4,951		(1,302)		3,649		5,048		(1,138)		3,910
Trademarks	4,951		(4,542)		409		5,048		(4,127)		921
Total	$	159,063	$	(53,958)	$	105,105	$	160,816	$	(46,534)	$	114,282

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2026
Accounting Policies [Abstract]
BASIS OF PRESENTATION	The accompanying Unaudited Condensed Consolidated Financial Statements reflect the historical results of operations and comprehensive loss, financial position, and cash flows in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial reporting and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments considered necessary for a fair presentation of the Company’s Condensed Consolidated Financial Statements have been included. Interim results should not be regarded as indicative of results that may be expected for any other period or the entire year. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and accompanying notes for the year ended December 31, 2025 (the “2025 Consolidated Financial Statements”) included in the final prospectus the Company filed with the SEC pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (the “Securities Act”), on June 5, 2026 (the “Prospectus”). Unless otherwise noted, the Company continues to apply the same accounting policies as described in Note 2 — Summary of Significant Accounting Policies of the 2025 Consolidated Financial Statements included in the Prospectus. Quantinuum (Cayman) is the predecessor entity of Quantinuum Inc. for financial reporting purposes. The reorganization of entities under common control and related consolidation is described in Note 1 — Description of Organization.
CONSOLIDATION	The Condensed Consolidated Financial Statements include the accounts of Quantinuum Inc., Quantinuum Holdings, and its subsidiaries. Quantinuum Holdings is a Variable Interest Entity (“VIE”) as defined in ASC 810 which requires the consolidation of VIEs when the entity is determined to be the primary beneficiary. To be a primary beneficiary, an entity must have the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance, among other factors. The Company assessed its variable interests in Quantinuum Holdings and determined that the Company is the primary beneficiary. In completing the assessment, the Company identified the activities that it considers most significant to the economic performance of the VIE and determined that the Company has the power to direct those activities, as it is the sole managing member of Quantinuum Holdings. Accordingly, the Company consolidates Quantinuum Holdings, and the economic interest in the Quantinuum Holdings held by the Continuing Common Unitholders is represented as Non-controlling interest. All intercompany transactions and balances have been eliminated upon consolidation.
RECENT ACCOUNTING PRONOUNCEMENTS	The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Condensed Consolidated Financial Statements. Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures, to require greater disaggregation of income tax disclosures. The new standard requires additional disclosure requirements pertaining to the income tax rate reconciliation and income taxes paid disaggregated by jurisdiction. ASU 2023-09 should be applied prospectively for fiscal years beginning after December 15, 2024, for public business entities, with application of the standard on a retrospective basis permitted. Given our status as an emerging growth company, the ASU is effective for the Company for fiscal years beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not yet been issued. The Company is currently assessing the impact, if any, that ASU 2023-09 would have on its Consolidated Financial Statements. In March 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40), to enhance the transparency of income statement expenses for public business entities. The new standard requires public companies to provide new annual and interim disclosures with a detailed disaggregation of specific expense categories, such as employee compensation, depreciation, and amortization, within relevant expense captions. ASU 2024-03 is effective for the Company for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, and is to be applied on a retrospective basis, with early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2024-03 would have on its interim and annual Consolidated Financial Statements. In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which introduces targeted improvements to the accounting for the costs of developing internal-use software. The new standard provides new guidance on how to evaluate whether the project probable-to-complete recognition threshold has been met in order to capitalize certain costs. ASU 2025-06 is effective for all entities for annual periods beginning after December 15, 2027, including interim periods within those annual periods, with early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2025-06 would have on its interim and annual Consolidated Financial Statements. In December 2025, the FASB issued ASU 2025‑10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities, which establishes comprehensive authoritative guidance on the recognition, measurement, presentation, and disclosure of government grants received by business entities. The new standard provides a structured framework for determining when a grant should be recognized, how it should be measured, and how related information should be presented within the financial statements. ASU 2025‑10 is effective for public business entities for annual periods beginning after December 15, 2028, including interim periods within those annual periods. For all other entities, the ASU is effective for annual periods beginning after December 15, 2029, and early adoption is permitted. The Company is currently assessing the impact, if any, that ASU 2025-10 would have on its interim and annual Consolidated Financial Statements. In December 2025, the FASB issued ASU 2025‑11, Interim Reporting (Topic 270): Narrow‑Scope Improvements, which clarifies the application of interim reporting requirements and reorganizes existing disclosure guidance to improve navigability within the Codification. The amendments specify the form and content requirements for interim financial statements, provide a comprehensive list of required interim disclosures, and introduce a principle requiring disclosure of events occurring after the prior annual period that materially impact the entity. ASU 2025‑11 is effective for interim periods within annual reporting periods beginning after December 15, 2027 for public business entities, with a one‑year deferral for all other entities, and early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2025-11 would have on its interim and annual Consolidated Financial Statements. In December 2025, the FASB issued ASU 2025‑12, Codification Improvements, which includes a collection of clarifications and technical corrections intended to enhance the consistency and operability of various areas of U.S. GAAP. The amendments address a wide range of topics, including clarifications related to diluted earnings per share, disclosures for lease receivables, and improvements to guidance involving credit loss calculations and treasury stock transactions. ASU 2025‑12 is effective for annual reporting periods beginning after December 15, 2026, including interim periods within those annual periods, with early adoption permitted. The Company is currently assessing the impact, if any, that ASU 2025-12 would have on its interim and annual Consolidated Financial Statements.
USE OF ESTIMATES	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and Notes to the Unaudited Condensed Consolidated Financial Statements. Estimates, judgments and assumptions are used in the accounting and disclosure related to, among other items: •the valuation of deferred income tax assets and uncertain tax positions, •assumptions used to measure Stock compensation expense, including the fair value of our Class A common stock and stock options, •useful lives of Property and equipment—net and Other intangible assets—net, •the assessment for impairment of long-lived assets and Goodwill, •the fair value valuation of warrant liabilities, •revenue recognition, including the allocation of transaction price to performance obligations in contracts with customers, •the determination of the incremental borrowing rate for leases, •and the determination of the discount rate to estimate the present value of the future payments for license technology. Actual amounts could ultimately differ from these estimated amounts. Changes in estimates will be reflected in the period in which the estimates are revised.
CUSTOMER CONCENTRATION	Concentrations of credit risk with respect to receivables are limited to the customers of the Company, and the Company performs ongoing credit evaluation of its customers.
GOVERNMENT GRANTS	The Company receives government grants in support of research and development activities. Because there is no authoritative guidance under U.S. GAAP on accounting for government grants received, the Company applies IAS 20, Accounting for Government Grants and Disclosure of Government Assistance by analogy. Government grants associated with contracts where the government is a customer are invoiced and Revenue—net is recognized as milestones are achieved and conditions are satisfied. Government grants not associated with contracts are recorded in Other (income)/expense. The Company benefits from using the Research and Development Expenditure Credit (“RDEC”) program in the United Kingdom. The credit is recognized as an offset to Research and development expenses—net in the Unaudited Condensed Consolidated Statements of Operations, with a corresponding amount recognized as a tax receivable in Other current assets in the Condensed Consolidated Balance Sheets.
STOCK-BASED COMPENSATION PLAN	Certain employees and non-employee directors of the Company participate in the stock-based compensation plans sponsored by the Company. The awards issued prior to the IPO, as described in Note 15 — Stock-Based Compensation, consist of RSUs and restricted stock that are subject to a dual-contingency structure, requiring the satisfaction of both a service or annual performance condition and a liquidity event condition. The service-based vesting condition and the annual performance condition, which generally is tied to the achievement of corporate objectives, are satisfied over a period of four years. The liquidity event condition was satisfied upon the IPO. Additionally, the Company issued further awards, in the form of RSUs and options, which generally vest upon satisfaction of a service condition over a three or four year service period. The Company accounts for stock-based compensation awards at their grant date fair values. For the portion of the awards subject to annual performance conditions, the Company determined that a grant date for accounting purposes does not occur until the specific performance metrics are approved and communicated to the employee. The Company remeasures the fair value of these awards at each reporting date until an accounting grant date is achieved, as the service inception date precedes the grant date. The Company records Stock compensation expense for RSUs and restricted stock on an accelerated attribution method over the requisite service period and only if all vesting conditions are considered probable to be satisfied. Upon the IPO, the Company recorded cumulative Stock compensation expense determined using grant-date fair values for awards that satisfied or partially satisfied the service-based or other performance-based vesting conditions. Following the IPO, Stock compensation expense related to any remaining service-based or other performance-based vesting conditions will be recorded over the remaining requisite service period. The fair value of awards granted prior to the IPO, was based on the fair value of Quantinuum (Cayman)’s common stock, par value $0.0001 per share (“Quantinuum (Cayman)’s common stock”). The fair value of the shares of Quantinuum (Cayman)’s common stock underlying RSUs and restricted stock was required to be estimated, as the shares were not traded on a public market on the grant date. The fair value of Quantinuum (Cayman)’s common stock was determined by considering a number of objective and subjective factors including: the valuation of comparable companies, sales of Quantinuum (Cayman)’s convertible redeemable preferred stock or common stock, Quantinuum (Cayman)’s operating and financial performance, the lack of liquidity of Quantinuum (Cayman)’s common stock, and general and industry specific economic outlook, amongst other factors. The fair value of RSU awards that were granted in connection with and subsequent to the IPO, are based on the fair value of Class A common stock at the time of grant. The fair value of option awards that were granted in connection with the IPO was determined using the Black-Scholes-Merton (“Black-Scholes”) option-pricing model.

- Definition

Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost.

+ References

+ Details

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

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+ Details

SEGMENTS	6 Months Ended
SEGMENTS	Jun. 30, 2026
Segment Reporting [Abstract]
SEGMENTS	NOTE. 16 SEGMENTS The Company’s Chief Operating Decision Maker (“CODM”), the Chief Executive Officer, manages the business as a single operating and reportable segment. The CODM uses consolidated financial information to allocate resources and assess performance on a consolidated basis. Accordingly, all required financial segment information is presented on a consolidated basis. The Company operates as one operating segment managed on a consolidated basis. The financial information regularly reviewed by the CODM is presented on the same basis as the Company’s Condensed Consolidated Financial Statements. The measure of profit or loss used by the CODM to allocate resources and assess performance is consolidated net loss. There are no significant expense categories provided to the CODM beyond those disclosed in the Unaudited Condensed Consolidated Statements of Operations. The CODM relies on consolidated net loss as a comprehensive measure of the Company's performance, considering all revenues and expenses, including Cost of revenue, Research and development expenses—net, Sales and marketing expenses, and General and administrative expenses, to assess the Company’s overall performance and inform strategic decisions. The Company's core technology, research and development, and service platforms are managed centrally and deployed globally to serve customers in various geographic locations. A measure of segment assets is not disclosed because the CODM does not regularly review asset information for purposes of allocating resources or assessing performance. The CODM also reviews forward-looking information contained in budgets and operating plans to manage operations and allocate resources. As the Company operates as a single operating segment, all required financial information can be found in the Condensed Consolidated Financial Statements.

- Definition

The entire disclosure for segment reporting.

+ References

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+ Details

ACCRUED LIABILITIES

6 Months Ended

Jun. 30, 2026

Payables and Accruals [Abstract]

ACCRUED LIABILITIES

NOTE. 6 ACCRUED LIABILITIES

Accrued liabilities is composed of the following (in thousands):


	June 30,		December 31,
	2026		2025
Customer advances and deferred income	$	5,322	$	6,094
Compensation, benefit and other employee related	14,422		11,028
Employee withholding taxes payable	48,269		817
Operating lease liability	2,793		3,313
Tax liabilities	568		1,943
Accrued legal and professional services	20,982		9,713
Accrued leasehold improvements in progress	—		2,478
Accrued issuance costs	2,353		1,741
License payable, current portion	4,607		4,607
Accrued interest	2,630		—
Other (primarily operating expenses)	7,340		2,624
	$	109,286	$	44,358

As of June 30, 2026 and December 31, 2025, accrued professional services include $16.7 million and $1.9 million related to a contract which allowed for a portion to be settled in equity units contingent upon the completion of the IPO. No equity units were settled as of period end.

LEASES - Lessor, Operating Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Leases [Abstract]
Revenue—net	$ 32	$ 0	$ 32	$ 0
Total lease income	$ 32	$ 0	$ 32	$ 0

RELATED PARTY TRANSACTIONS - Other Related Party Transactions (Details) - Related Party - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Related Party Transaction [Line Items]
Due from related parties	$ 532		$ 532		$ 604
Non-Officer Vice President
Related Party Transaction [Line Items]
Due from related parties	2,200		2,200
Cost‑Reimbursable Funding For Research Activities
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	$ 300	$ 100	$ 500	$ 100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS - Disaggregation of Revenue by Products or Service (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation of Revenue [Line Items]
Total revenue—net	$ 7,998	$ 2,108	$ 13,235	$ 21,193
Specialized quantum computing hardware
Disaggregation of Revenue [Line Items]
Revenue —net	0	0	0	16,526
Cloud platform, research and support services
Disaggregation of Revenue [Line Items]
Revenue —net	7,966	2,119	13,268	4,970
Prioritization incentive payment
Disaggregation of Revenue [Line Items]
Revenue —net	0	(11)	(65)	(303)
Lease income
Disaggregation of Revenue [Line Items]
Lease income	$ 32	$ 0	$ 32	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

STOCK-BASED COMPENSATION - Summary of Stock Option Activity (Details) - Hazra IPO Equity Awards - $ / shares	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Number of Options
Outstanding and unvested—January 1	0
Granted (in shares)	122,791
Vested (in shares)	0
Forfeited (in shares)	0
Outstanding and unvested—June 30	122,791
Weighted-Average Grant-Date Fair Value
Outstanding and unvested—January 1		$ 0
Granted		38.28
Vested		0
Forfeited		0
Outstanding and unvested—June 30		$ 38.28

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2026	Aug. 13, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2026
Document Transition Report	false
Entity File Number	001-43328
Registrant Name	Quantinuum Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-4095842
Entity Address, Address Line One	303 S Technology Court
Entity Address, City or Town	Broomfield
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80021
City Area Code	855
Local Phone Number	888-7686
Title of 12(b) Security	Class A common stock, par value $0.0001 per share
Trading Symbol	QNT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2026
Current Fiscal Year End Date	--12-31
Central Index Key	0002110105
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		36,893,857
Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		226,414,285

NON-CONTROLLING INTERESTS (Tables)

6 Months Ended

Jun. 30, 2026

Noncontrolling Interest [Abstract]

Schedule of Ownership of Common Units

The ownership of the Common Units is summarized as follows:


	Ownership			Ownership Percentage
	Quantinuum Inc.	Continuing Common Unitholders	Total	Quantinuum Inc.		Continuing Common Unitholders		Total
Balances as of June 5, 2026	34,798,231	228,107,842	262,906,073	13.2	%	86.8	%	100.0	%
Exchange of Non-controlling interests	1,335,965	(1,335,965)	—	0.5	%	(0.5)	%	—	%
Balances as of June 30, 2026	36,134,196	226,771,877	262,906,073	13.7	%	86.3	%	100.0	%

Schedule of Effect of Changes In Ownership

The following table summarizes the effect of changes in ownership of Quantinuum Inc. on the Company's equity for the period during the Transactions through June 30, 2026 (in thousands):


Net loss attributable to Quantinuum Inc.	$	(65,418)
Accumulated other comprehensive (loss) income:
Foreign exchange translation adjustment	(1,878)
Increase (decrease) as a result of non-controlling interest adjustment for changes in proportionate ownership in Quantinuum Holdings	9
Additional paid-in capital:
Increase as a result of stock-based compensation	316,777
Increase (decrease) as a result of non-controlling interest adjustment for stock-based compensation	(273,239)
Increase (decrease) as a result of non-controlling interest adjustment for changes in proportionate ownership in Quantinuum Holdings	14,716
Total effect of changes in ownership interest on equity attributable to Quantinuum Inc.	$	(9,033)

NET EARNINGS PER SHARE - Summary of Securities Excluded from the Computation of Diluted Loss Per Share (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2026
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities excluded from computation of earnings per share	234,000,898	234,000,898
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities excluded from computation of earnings per share	5,756,251	5,756,251
Restricted shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities excluded from computation of earnings per share	538,964	538,964
Common Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities excluded from computation of earnings per share	227,582,892	227,582,892
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities excluded from computation of earnings per share	122,791	122,791

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Government Grants (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Accounting Policies [Abstract]
RDEC credit	$ (0.6)	$ (0.4)	$ (0.8)	$ (1.1)
RDEC, net position of tax receivable	$ 3.7		$ 3.7		$ 4.4

ACCRUED LIABILITIES - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Payables And Accruals [Line Items]
Accrued legal and professional fees settled upon initial public offering	$ (16.7)	$ 1.9

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS

NOTE. 12 REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS

The Company derives revenue by providing quantum computing products and solutions. Revenue—net is recognized at a point in time or over time depending on the manner in which the business transfers control of services to customers and revenue is measured as the amount of consideration the Company expects to be entitled in exchange for services rendered.

The following table depicts the disaggregation of revenue by products or services (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Specialized quantum computing hardware	$	—	$	—	$	—	$	16,526
Cloud platform, research and support services	7,966		2,119		13,268		4,970
Prioritization incentive payment	—		$	(11)	(65)		$	(303)
Lease income	32		—		32		—
Total revenue—net	$	7,998	$	2,108	$	13,235	$	21,193

For the six months ended June 30, 2025, specialized quantum computing hardware corresponds to sales-type lease income, as discussed in Note 8 — Leases. For the three and six months ended June 30, 2026, lease income relates to a sublease, as discussed in Note 8 — Leases.

The following table depicts the disaggregation of revenue by timing of transfer of goods or services (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Revenue recognized at a point in time	$	135	$	—	$	135	$	16,526
Revenue recognized over time	7,863		2,108		13,100		4,667
	$	7,998	$	2,108	$	13,235	$	21,193

Sales and use taxes collected on behalf of governmental authorities are excluded from revenues. Payment is generally due and received within 30 days or in some instances, payment is made up front. There is no significant financing component included in the Company's contracts with customers.

PERFORMANCE OBLIGATIONS

A performance obligation is a promise in a contract to transfer a distinct service to the customer and is defined as the unit of account. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied.

As of June 30, 2026, the remaining performance obligations to which enforceable rights exist are $74.2 million, of which approximately 39.6% is expected to be recognized as revenue over the next 12 months, 64.8% is expected to be recognized as revenue in the next two years, 85.3% is expected to be recognized as revenue in the next three years, and 97.5% is expected to be recognized as revenue in the next four years. The estimated timing of this revenue is based, in part, on management’s estimates and assumptions regarding when performance obligations will be completed. As a result, the actual timing of revenue recognition in future periods may vary.

Our disclosure of the timing for satisfying the performance obligation is based on the requirements of contracts with customers. However, from time to time, these contracts may be subject to modifications, impacting the timing of satisfying the performance obligations.

CONTRACT BALANCES

The following table summarizes the Company’s contract liability balances (in thousands):


	June 30,
	2026		2025
Contract liabilities—January 1	$	6,608	$	1,401
Additions	4,294		390
Revenue recognized	(5,323)		(771)
Contract liabilities—June 30	$	5,579	$	1,020

The contract liability as of June 30, 2026 will be recognized as revenue as the quantum computing services are provided to the customer, of which $5.3 million is expected to occur over the next year, and $0.3 million is expected to be recognized beyond one year. The contract liability balances are reflected in the Condensed Consolidated Balance Sheets as components of Accrued liabilities and Other liabilities.

The following table summarizes the Company's accounts receivable and contract asset balances (in thousands):


	June 30,		December 31,		December 31,
	2026		2025		2024
Trade receivables	2,531		3,303		1,758
Contract assets	817		1,765		2,964
Accounts receivable	$	3,348	$	5,068	$	4,722

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

RELATED PARTY TRANSACTIONS - Strategic Services And Supply Agreements (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 29, 2026	Nov. 30, 2021	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2026	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Honeywell Aerospace Inc.
Related Party Transaction [Line Items]
Due to related parties			$ 1,000			$ 1,000
Related Party
Related Party Transaction [Line Items]
Due to related parties			52			52		$ 1,273
Prepayment balance			14,136			14,136		0
2021 Strategic Services And Supply Agreement \| Related Party
Related Party Transaction [Line Items]
Agreement term		10 years
Maximum incentive payment		1.50%
2021 Strategic Services And Supply Agreement, Material Incentive \| Related Party
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction			0	$ 0		100	$ 300
2026 Strategic Services And Supply Agreement \| Related Party
Related Party Transaction [Line Items]
Agreement term	10 years
Automatic renewal term	5 years
Labor and material markup	15.00%
Prepayment balance			14,100			14,100
2026 Strategic Services And Supply Agreement, Fabrication Costs \| Related Party
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction			2,100	$ 600		3,700	$ 2,000
Due to related parties			$ 100			$ 100		$ 200
2026 Strategic Services And Supply Agreement, Additional Prepayments \| Related Party \| Forecast
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction					$ 1,600