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About Infleqtion
Infleqtion (INFQ) has a market cap of $1.92B as of November 2026 — #5 of the 12 pure-play quantum computing stocks by market value.
Infleqtion (formerly ColdQuanta) designs and builds quantum computers, precision sensors, and quantum software using cold atom and neutral atom technology. Its Sqale quantum computer has been commercially deployed at the UK National Quantum Computing Centre.
Sector
Technology
Industry
Software - Infrastructure
Employees
203
Founded
2007
Headquarters
Louisville, CO
Shares Outstanding
224.7M
Quantum Division
https://infleqtion.com/quantum-computing/
Quantum Technology
Physical Qubits
100+
Sqale (2025)
Logical Qubits
30
Sqale (2025)
2Q Gate Fidelity
99.48%
1Q Gate Fidelity
99.98%
Hardware Type
Physical Qubits (Neutral Atom / Cold Atom)
Cloud Access
Roadmap Target
30 logical qubits achieved Sept 2026; Illinois fault-tolerant Sqale system designed to demonstrate more than 50 logical qubits in 2027; 100 logical qubits by 2028; 1,000 by 2030
Sqale neutral atom system: 100+ physical qubits, commercially deployed at the UK National Quantum Computing Centre. The current system specification reports representative 99.48% 2Q CZ fidelity with post-selection (98.8% raw); 99.73% is Infleqtion's best published post-selected result. Demonstrated a 1,600-atom array and, in September 2026, 30 entangled logical qubits using 80 physical qubits in an approximately 1 KiloQuOp circuit. Uses laser-cooled atoms in reconfigurable arrays.
⚠ operating-company figures
Infleqtion's FY2025 10-K covers only its pre-merger SPAC shell, so annual operating-company figures remain guarded and reflect the FY2025/FY2024 restatement in its Q2 2026 Form 10-Q. June 2026 cash, debt, equity and trailing operating cash flow are backfilled from its Q2 statements furnished on Form 8-K; current-assets-only cash excludes non-current securities.
Cash Position & Runway
Total Cashⓘ
$478.09M
TTM Cash Burnⓘ
$20.39M
per year (TTM)
Cash Runwayⓘ
281 mo
Total Debtⓘ
$0.00
Quarterly Operating Cash Flow
Red bars = cash burn (negative operating CF). Green = cash-flow positive. Source: SEC EDGAR 10-Q filings.
Financial Metrics (Annual)
Total Revenueⓘ
$31.11M
Revenue Growth (YoY)ⓘ
+10.7%
Gross Marginsⓘ
—
Operating Marginsⓘ
-25.83%
Net Marginsⓘ
-103.60%
Total Debtⓘ
$0.00
P/E Ratio (TTM)ⓘ
—
EPS (TTM)ⓘ
$-0.1434
Price / Bookⓘ
3.35
Earnings Per Share (TTM)
EPS (TTM)ⓘ
$-0.1434
Unprofitable
P/E Ratioⓘ
—
Price / Bookⓘ
3.35
Price-to-Book
Government Contracts & Grants
Total Obligated
$105.04M
Awards Found
91
Excluded: Subcontracts, state/local funding, classified contracts, awards <~$30k.
Source: USAspending.gov · Updated quarterly
Shares Outstanding History
Source: SEC EDGAR XBRL · 10-K and 10-Q filings · Rising trend = dilution
Daily Short Volume (FINRA)
Latest Short Vol %
44.2%
2026-11-04
Short Volume
1,122,110
| Date | Short Vol | Total Vol | Short % |
|---|---|---|---|
| 2026-11-04 | 1,122,110 | 2,535,961 | 44.2% |
| 2026-10-28 | 1,333,937 | 2,612,652 | 51.1% |
| 2026-10-21 | 2,312,268 | 3,543,600 | 65.3% |
| 2026-10-20 | 1,498,146 | 2,564,371 | 58.4% |
| 2026-10-14 | 2,291,224 | 4,882,293 | 46.9% |
| 2026-10-09 | 1,419,800 | 2,203,735 | 64.4% |
| 2026-10-07 | 2,040,443 | 3,718,309 | 54.9% |
| 2026-10-02 | 1,346,290 | 2,948,530 | 45.7% |
| 2026-09-30 | 898,092 | 2,211,612 | 40.6% |
| 2026-09-25 | 1,653,428 | 3,064,629 | 54% |
Source: FINRA CNMS · Not the same as total short interest (outstanding positions) · Updated daily
Research Impact (OpenAlex)
Total Citations
17,021
Indexed Works
168
Avg Citations / Work
101.3
Source: OpenAlex · Citations to papers affiliated with Infleqtion · Updated weekly · View institution ↗
Recent Research Papers (arXiv)
arXiv ↗Affordances and Challenges of Incorporating a Remote, Cloud-accessible Quantum Experiment into Undergraduate Courses
Superstaq: Deep Optimization of Quantum Programs
SupercheQ: Quantum Advantage for Distributed Databases
Source: arXiv.org API · Papers mentioning company name · Updated every 48 hours
StockTwits Sentiment
Source: StockTwits · last 30 messages · updated every 4h
Recent News
Press Releases
GlobeNewswire ↗Source: Company newsroom (direct) + wire services (GlobeNewswire, PR Newswire) via Finnhub
News Mention Volume (30 days)
Articles indexed every 4h · Sentiment scored via Loughran-McDonald financial word lists (bullish/bearish keyword frequency). Not ML-based — scores reflect word presence only and may not capture context or sarcasm.
SEC Filings & Earnings Reports
View annual, quarterly, and material-event filings on SEC EDGAR
No annual summaries available yet.
Summaries are generated automatically. Check back after the next scheduled update.
10-K · 10-Q · 20-F · 40-F · 6-K filings
All Filings ↗| Date Filed | Form | Period Covered | |
|---|---|---|---|
| 2026-08-18 | 10-Q | 2026-06-30 | EDGAR ↗ |
| 2026-05-15 | 10-Q | 2026-03-31 | EDGAR ↗ |
| 2026-03-31 | 10-K | 2025-12-31 | EDGAR ↗ |
| 2025-11-12 | 10-Q | 2025-09-30 | EDGAR ↗ |
| 2025-08-13 | 10-Q | 2025-06-30 | EDGAR ↗ |
| 2025-06-13 | 10-Q | 2025-03-31 | EDGAR ↗ |
Source: SEC EDGAR · Annual: 10-K / 20-F / 40-F · Quarterly: 10-Q / 6-K · AI summaries generated automatically
Earnings releases, contracts, leadership changes, offerings
All 8-Ks ↗Source: SEC EDGAR · Material events, earnings releases, contract announcements · Updated weekly
S-3 shelf registrations, 424B prospectuses, and document-verified foreign-issuer supplements represent potential dilution events. Infleqtion has 8 such filings on record.
All Shelf Filings ↗Source: SEC EDGAR · S-3 = shelf registration, 424B3/B5 = active offering (dilutive)
SC 13G/D filers · >5% ownership
All 13G/D ↗| Institution | Form | % Owned | Filed |
|---|---|---|---|
| SC 13G | 5.75% | 2026-03-10 | |
| SC 13G | 6.04% | 2025-05-21 | |
| SC 13G/A | 4.80% | 2025-08-12 | |
| SC 13G | 5.51% | 2025-05-20 | |
| SC 13G/A | 4.32% | 2025-08-14 | |
| SC 13G/A | 4.31% | 2026-02-11 | |
| SC 13G/A | 4.10% | 2025-11-14 |
Source: SEC EDGAR SC 13G/D · Updated monthly
Open-market buys and sells by directors and officers
All Form 4s ↗90-Day Activity
| Filed | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-11-04 | ▼ SELL | 24,365 | $8.88 | |
| 2026-08-21 | ▼ SELL | 164,824 | $13.02 | |
| 2026-08-21 | ▼ SELL | 350,115 | — | |
| 2026-08-21 | ▼ SELL | 33,405 | $12.62 | |
| 2026-08-14 | ▲ BUY | 52,071 | $12.42 | |
| 2026-08-14 | ▼ SELL | 1,609 | $12.19 | |
| 2026-08-14 | ▼ SELL | 1,079 | $11.82 | |
| 2026-08-14 | ▼ SELL | 5,488 | $11.69 | |
| 2026-08-14 | ▼ SELL | 6,346 | $11.87 | |
| 2026-08-14 | ▼ SELL | 8,057 | $11.09 | |
| 2026-08-14 | ▼ SELL | 1,324 | $10.88 | |
| 2026-08-14 | ▼ SELL | 28,168 | $11.44 | |
| 2026-06-05 | ▼ SELL | 120,000 | $17.73 | |
| 2026-06-01 | ▼ SELL | 30,000 | $16.45 | |
| 2026-06-01 | ▲ BUY | 30,000 | $0.9000 | |
| 2026-06-01 | ▼ SELL | 20,000 | $18.00 | |
| 2026-05-29 | ▲ BUY | 350,115 | — | |
| 2026-05-29 | ▼ SELL | 660,901 | — | |
| 2026-05-29 | ▲ BUY | 1,251,263 | — | |
| 2026-05-29 | ▲ BUY | 311,208 | — | |
| 2026-05-29 | ▼ SELL | 12,310 | $17.91 | |
| 2026-05-29 | ▼ SELL | 66,194 | $16.85 | |
| 2026-05-29 | ▼ SELL | 1,541,092 | $16.05 | |
| 2026-05-29 | ▼ SELL | 810,384 | — | |
| 2026-05-29 | ▼ SELL | 1,353 | $17.91 | |
| 2026-05-29 | ▼ SELL | 7,277 | $16.85 | |
| 2026-05-29 | ▼ SELL | 169,411 | $16.05 | |
| 2026-05-29 | ▼ SELL | 1,386,029 | — | |
| 2026-05-29 | ▲ BUY | 350,115 | — | |
| 2026-05-29 | ▼ SELL | 660,901 | — |
Source: SEC EDGAR Form 4 · Open-market buys and sells · Updated daily
Bull vs Bear: Analyst Opinions on Infleqtion (INFQ)
Generated from live analyst targets, SEC filings and market data as of November 2026 — not investment advice.
▲ THE BULL CASE
• Wall Street's mean price target of $20.43 implies 139% upside — consensus rating Strong Buy across 7 analysts.
• 6 of 7 analyst ratings are Buy or Strong Buy.
• Revenue grew 11% year-over-year to $31.11M (latest fiscal year).
• $478.09M in cash gives roughly 281 months of runway at the current burn rate.
• $105.04M in U.S. federal contracts and grants across 91 awards validates the technology with government customers.
▼ THE BEAR CASE
• Auditors have flagged substantial doubt about Infleqtion's ability to continue as a going concern.
• 8 at-the-market / shelf offering filings (S-3 / 424B / SUPPL) on record — an active dilution channel.
• Not yet profitable: net loss of $32.23M in the latest fiscal year.
• The stock is down 45% over the past year.
How long is Infleqtion's (INFQ) cash runway?
Infleqtion has roughly 281 months of cash runway as of November 2026 — $478.09M in cash divided by its trailing-twelve-month operating burn.
How much government funding has Infleqtion received?
Infleqtion has received $105.04M in U.S. federal contracts and grants across 91 tracked awards (USAspending.gov).
Is INFQ stock at risk of shareholder dilution?
Dilution risk is elevated: 8 shelf/ATM offering filings on record, a going-concern flag from auditors.
How many qubits does Infleqtion have?
Infleqtion's Sqale (2025) has 100+ physical qubits and is operational; its roadmap targets 30 logical qubits achieved Sept 2026; Illinois fault-tolerant Sqale system designed to demonstrate more than 50 logical qubits in 2027; 100 logical qubits by 2028; 1,000 by 2030.
What percentage of INFQ's trading volume is short?
44.2% of INFQ's daily trading volume was short selling as of 2026-11-04 (FINRA daily short volume).