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Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares

Xanadu Quantum Technologies Limited develops photonic quantum computing technology and related software, including cloud access to quantum computers and tools for quantum programming and simulation. Its x-series devices provide cloud-based photonic quantum computers with programmable quantum gates and photon-number resolving detectors. The company offers PennyLane, a cross-platform Python library for quantum differentiable programming and integration with machine learning tools, and Catalyst for just-in-time compilation and optimization of quantum algorithms. It also provides documentation, guides, and community resources for quantum machine learning, quantum chemistry simulations, and other applications. The company serves professional clients in quantum computing, software development, and machine learning, as well as advanced users in research and development. It has a collaboration with Mitsubishi Chemical to advance semiconductor fabrication technologies using quantum computing algorithms. Incorporated in 2016, the company is based in Toronto, Canada.

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Quantum Computing▲

Xanadu and ASML Collaborate on Lithography for Quantum Hardware

Xanadu Quantum Technologies and ASML have announced a collaboration to develop advanced lithography processes for Xanadu's photonic quantum hardware, aiming to reduce optical losses in quantum computing chips and accelerate the path to utility-scale quantum computing. The partnership will explore how lithography innovations can improve patterning control and lower-loss photonic structures, addressing the technical challenge of optical loss influenced by line edge roughness. Xanadu's CEO, Dr. Christian Weedbrook, emphasized the importance of fault tolerance and error correction, while ASML's Stan Baron expressed enthusiasm for supporting next-generation photonics applications. This collaboration marks a significant step for Xanadu in advancing its photonic quantum technology and solidifying its position in the semiconductor and quantum computing ecosystem.
XNDU ▲ASML.AS ▲
Quantum Computing ▲Semiconductors ▲
About megatrends
Quantum Computing › Photonic & Other Modalities ▲Technology
Semiconductors › Lithography Systems ▲Technology
Quantum Computing › Cryogenic, Control & Photonic Components ▲Technology
Semiconductors › Wafer-Fab Equipment & Lithography ▲Technology
XNDU · Technology · Positive Collaboration with ASML to develop lithography for photonic quantum hardware advances Xanadu's technology.
ASML.AS · Demand · Positive Partnership with Xanadu expands ASML's lithography applications into quantum computing, potentially increasing demand for its systems.
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GlobeNewswire·25dRead more →
Canada
Quantum Computing▲

Xanadu Accelerates Chip Production, Narrows Optical-Loss Gap in Quantum Computing Push

Xanadu Quantum Technologies advanced its hardware roadmap by achieving 0.085 dB edge-coupling loss while increasing thin-film lithium niobate and silicon nitride fabrication by 75% and 50%, respectively. The aggregate optical-loss gap has been reduced by up to 200x over roughly four years, with a further 5-10x reduction still required to reach the threshold for scalable fault-tolerant operation. The company ended 2Q26 with $312.8 million of cash and raised $67.2 million through a synthetic ATM facility, supporting faster roadmap investment. Revenue increased 43% year-over-year to $1.5 million, though it declined sequentially from $2.8 million in 1Q26 due to the timing of DARPA Stage B revenue. Xanadu expects to provide a more detailed loss and hardware roadmap around the end of summer or Analyst Day, which could serve as a near-term catalyst.
XNDU ▲
Quantum Computing ▲
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Quantum Computing › Photonic & Other Modalities ▲Technology
XNDU · Technology · Positive Xanadu advanced its hardware roadmap with reduced optical loss and increased fabrication, supporting its quantum computing push.
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ExecEdge·57dRead more →
Quantum Computing▼2

Four Quantum Computing Stocks Went Public This Year—Here’s What’s Next

Four quantum computing companies—Quantinuum, Xanadu Quantum Technologies, Horizon Quantum Computing, and Infleqtion—completed initial public offerings between February and June of this year. Quantinuum, which uses trapped-ion technology, launched its Helios computer commercially in November 2025 and plans to release its Sol system in 2027 and the fault-tolerant Apollo system in 2029, though its first-quarter fiscal 2026 revenue fell 73% year over year to $5.2 million. Infleqtion, focused on neutral-atom sensing, reported $9.5 million in first-quarter revenue, up 14% from a year earlier, and raised its full-year 2026 outlook to at least $40 million after securing over $20 million in additional funding from NASA’s Jet Propulsion Lab. Xanadu, a photonic quantum computing company, posted $4.6 million in 2025 revenue against a $70.7 million net loss and recently expanded its partnership with Lockheed Martin into workforce training. Horizon Quantum, a software provider whose tools enable programs to run across different quantum hardware, agreed to buy one of IonQ’s 256-qubit systems in April but recorded a $6.5 million operating loss in the first quarter of 2026.
HQ ▼INFQ ▲QNT ▼XNDU ▼
Quantum Computing
About megatrends
Quantum Computing › Trapped-Ion Competition
Quantum Computing › Photonic & Other Modalities Capital
Quantum Computing › Quantum Software, Algorithms & Cloud Access Competition
HQ · Capital · Negative Horizon Quantum recorded a $6.5M operating loss in Q1 2026, showing ongoing losses.
INFQ · Demand · Positive Infleqtion reported $9.5M Q1 revenue (up 14% YoY), raised FY2026 outlook to at least $40M, and secured over $20M additional funding from NASA JPL.
QNT · Demand · Negative Quantinuum's Q1 FY2026 revenue fell 73% YoY to $5.2M, indicating weak demand.
XNDU · Capital · Negative Xanadu posted $4.6M revenue against $70.7M net loss in 2025, indicating poor financial performance.
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The Motley Fool·69dRead more →
Quantum Computing▲

Xanadu Quantum Technologies Achieves 0.085 dB/Facet Edge-Coupling Loss in Photonic Chip Packaging

Xanadu Quantum Technologies Limited announced a new industry benchmark in photonic chip packaging, achieving an average 0.085 dB per facet edge-coupling loss. The company said the result reflects advances in integrated photonic chip design, fabrication techniques, and packaging systems, and is linked to its internal advanced photonic chip packaging facility launched last year. Founder and CEO Dr. Christian Weedbrook called the achievement a significant step forward in delivering efficient, scalable quantum hardware, emphasizing that minimizing loss is essential to unlocking photonic quantum computing potential. The milestone was supported by collaborations including a joint development agreement with Corning Inc. on special fiber and fiber array solutions for low-loss chip networking, and a partnership with DISCO for wafer singulation.
XNDU ▲GLW ▲
Quantum Computing ▲
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Quantum Computing › Photonic & Other Modalities ▲Technology
XNDU · Technology · Positive Xanadu announced a new industry benchmark in photonic chip packaging, advancing its quantum hardware capabilities.
GLW · Demand · Positive Corning's joint development agreement for special fiber and fiber array solutions is highlighted as supporting the milestone, potentially boosting demand for its products.
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Insider Monkey·107dRead more →
Quantum Computing▼

IonQ Outpaces Xanadu as the Better Quantum Computing Stock for 2026

IonQ emerges as the more compelling quantum computing investment over newly public Xanadu Quantum Technologies, driven by far higher revenue and a stronger cash position. Xanadu, the first pure-play photonic quantum computing company to go public, reported first-quarter revenue of $2.8 million, quadrupling from the prior year, but posted an operating loss of $23.3 million. IonQ, which uses trapped ions, achieved first-quarter sales of $64.7 million, a 755% year-over-year jump, and raised its full-year revenue outlook to between $260 million and $270 million, though its operating loss widened to $271.5 million. IonQ held $3.1 billion in cash, equivalents, and investments at quarter-end, compared with Xanadu's $272.5 million, and its price-to-sales ratio of 98 is far lower than Xanadu's ratio above 700. The analysis concludes that IonQ's greater market traction, larger cash reserves, and more attractive valuation make it the better long-term buy.
IONQ ▲XNDU ▼
Quantum Computing
About megatrends
Quantum Computing › Photonic & Other Modalities Competition
Quantum Computing › Trapped-Ion Competition
IONQ · Demand · Positive IonQ reported 755% revenue growth and raised full-year outlook, indicating strong customer demand.
XNDU · Capital · Negative Xanadu is compared unfavorably to IonQ, with much lower revenue, higher valuation, and smaller cash reserves.
XNDU · Competition · Negative Article positions IonQ as a better investment than Xanadu, highlighting Xanadu's lower revenue and higher valuation.
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The Motley Fool·108dRead more →
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