Infleqtion : Q1’26 Conference Call

Published: 2026-05-14 16:17:26 ET INFQ

Published on 05/14/2026 at 04:17 pm EDT

Q1'26 Conference Call

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Disclaimers and Forward-Looking Statements (cont.)

Forward-looking statements represent Infleqtion management's beliefs and assumptions only as of the date such statements are made. The Company does not undertake, and expressly disclaims any duty, to update any statements made in this presentation and the related webcast to reflect events or circumstances after the date of this presentation and the related webcast or to reflect new information or the occurrence of unanticipated events, except as required by law.

This presentation also contains estimates and other statistical data made by independent parties and by the Company relating to market size and growth and other industry data. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The Company has not independently verified the statistical and other industry data generated by independent parties and contained in this presentation and, accordingly, it cannot guarantee their accuracy or completeness. In addition, projections, assumptions, and estimates of its future performance and the future performance of the markets in which the Company competes are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause results or outcomes to differ materially from those expressed in the estimates made by the independent parties and by the Company.

To supplement our financial information, which is prepared and presented in accordance with U.S. generally accepted accounting principles ("GAAP"), we use the following non-GAAP financial measures: non-GAAP Operating Income (loss), Non-GAAP Operating Expenses, Non-GAAP Cost of Revenue, Non-GAAP R&D and non-GAAP Net Income (loss). These non-GAAP financial measures are in addition to, and not as a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of the Company's non-GAAP financial measures as tools for comparison. The Company has provided a reconciliation of those measures to the most directly comparable GAAP measures in the Appendix to this presentation, which is available at investors.infleqtion.com.

For further information with respect to the Company, we refer you to the Company's most recent Annual Report on Form 10-K and subsequent filings with the SEC. In addition, the Company is subject to the information and reporting requirements of the Securities Exchange Act of 1934 and, accordingly, files periodic reports, current reports, proxy statements, and other information with the SEC. These periodic reports, current reports, proxy statements, and other information are available for review at the SEC's website at http://www.sec.gov.

The Neutral-Atom Platform for the Quantum Era

Infleqtion at a Glance

One core technology platform powers quantum computing,

sensing, and software

engineered for real-world systems

U.S., U.K., Japan, Australia and beyond

Across government, enterprise and research

235+ patents issued and

pending

Quantum Momentum

Multiple tailwinds are accelerating the industry

Neutral Atom Leadership

Commercial Expansion

~$55B

The Deployment Era

Oper6tiofi6l Qu6fitum Systems

Global Government Quantum Investments

Ecosystem Velocity

The quantum market is maturing as quantum moves closer to useful applications

The Power of Neutral Atoms

Maintain high performance while shrinking systems to chip-scale

Uniform by nature

Identical atoms create a repeatable foundation for scalable systems

Controlled with light

Optical control enables flexible trapping, movement, and addressing

Reconfigurable

Layouts can adapt to algorithms, missions, and use cases

Scalable arrays

Large neutral-atom arrays create a path to useful logical-qubit systems

Field deployable

Can operate beyond controlled environments across ground, air, sea, and space

Low SWaP-C* pathway

Photonics, controls, and packaging advances create a path toward smaller, lower-cost, chip-scale quantum systems

Leadership starts with modality

*SWaP-C (Size, Weight, Power, and Cost) is an engineering framework for optimizing technology by making it smaller, lighter, more efficient, and more affordable

One Platform, Powered by Neutral Atoms

Scalable to multiple applications and end markets

Quantum Computing

Precision Timing

Quantum Spectrum

Inertial & Gravity Sensing

Quantum Software

Atoms are organized into different structures for quantum applications

Proven Across Real World Domains

UNDER SEA

IN SPACE

IN THE SKY

ON THE GROUND

IN DATA CENTERS

Royal Navy autonomous submarine quantum clock demo

Cold Atom Lab on ISS

QGGPf gravity sensor mission

Optical quantum clock

flight trials

Aerospace timing roadmap

NQCC 100-qubit operational system

Quantum Corridor fiber

NVQLink, CUDA-Q

Hybrid QPU/GPU workflows

One quantum platform, Built for the field.

Commercial and Strategic Momentum

$569M

cash & equivalents balance March 2026*

$40M+

2026 revenue guidance

1,600

demonstrated neutral-atom sites

12 30

achieved 2026(e)

logical qubits achieved ahead of prior roadmap

100

physical-qubit operational system at NQCC

1st & Largest

NASA Quantum Mission Contract

40×

timing improvement over GPS in live fiber demo

10×

Superstaq benchmark performance gains

>$160B

2040 TAM across quantum

computing + sensing1

One neutral-atom platform built to scale across both

Financial Strength Compute Leadership Platform Leverage

Field & Application Pull

1st

Publicly listed Neutral

Atom company

99.73%

user-facing neutral-atom

2Q fidelity

10-100×

qLDPC physical-qubit reduction potential

1st

Materials science application on logical qubits

*March 2026 cash & cash equivalents includes restricted cash and available-for-sale securities

1McKinsey Quantum Technology Monitor, April 2026

Scaling Toward Commercially-Useful Logical Qubits

Through hardware and software innovation

Hardware Leadership

1,600

Atom Array

99.73%

2Q Gate Fidelity(1)

Commercial record for neutral atom systems

Industry-leading neutral atom performance

Logical Qubit Roadmap

2024

2025

2026

100*

2028

Delivering Ahead of plan

Commercial Deployment

Ofi-Prem System Sales

Priv6te Cloud Services Applications on Logical Qubits

Materials Science

Chemistry

Healthcare Tech

Energy/Utilities

Cybersecurity

*initial commercial capability

The clearest path to commercial quantum computing

Note: (1) Post-selected for atom loss; Aug 2025 publication in PRX Quantum 6, 030334.

Quantum NVQLink Showcase

First and Only 100 qubit machine

Real World Deployments

Delivered

Only foreign company selected

for Moonshot program

Delivered

50+ Logical Qubit System anticipated

Planned

Quantum Software Powers More Than Applications

Application

Energy

Designing with end users to run on:

Sqale now (technology

Layer

Middleware Layer

Hardware Layer

RESOURCE ESTIMATOR

COMPILER

CONTROL HARDWARE

Healthcare

Material Science

NVQLink &

Error Correction

development) and

Sqale at 100+ LQs (commercially-relevant)

Compiles and optimizes quantum circuits for multiple quantum computing modalities. Up to 10× gains on benchmarks enables applications to use less Computing resources

Realtime co-processing with GPU to supercharge quantum error correction in a hardware-aware fashion

Evidence of our Execution and Innovation

Application

Layer ALGORITHM

Middleware Layer

Hardware

Layer

RESOURCE ESTIMATOR

COMPILER

CONTROL

HARDWARE

Enable applications to estimate hardware requirements and dictate allocation of qubits1

Compiler enabling individual applications to use multiple qubit modalities - scalability & efficiency

Integration of Ising improves efficacy of proprietary Error Correction (reduced time to solution)

Atomic conveyor belts enabling continuous high-performance operations

Note: (1) arXiv 2604.01376 [Apr 1, 2026]; (2) arXiv 2604.08876 [Apr 10, 2026]

Evidence of our Execution and Innovation

QuIRC

Application Layer

Quantum-inspired AI/ML to analyze high-volume data streams, reducing computational and storage requirements

2 Logical Qubits (materials science application)

6 Logical Qubits (Shor's Algorithm)

12 Logical Qubits (chemistry/health tech application)

RESOURCE

Middleware ESTIMATOR

Layer COMPILER

Hardware CONTROL

Layer HARDWARE

Applying quantum principles to optimize power grid management

Quantum Applications Emerging Across Critical Industries

Commercial quantum workloads are gaining traction

Emerging quantum applications

Energy Sector Leadership

Energy

AI Infrastructure Materials Science Finance

Space

National Security Health Tech

Dept of Energy ARPA-E ENCODE

1st ARPA-E quantum project, energy grid optimization

Dept of Energy ARPA-E QC³

Superconductors, batteries, rare-earth magnets and catalysts

IQMP & NQAC

Nuclear reactor designs, power grid optimization

Quantum solutions to address critical challenges of the energy sector

Quantum Inspired AI Today

Quantum-inspired AI running on classical infrastructure

AI Infrastructure

Challenge

Conventional AI struggles with noisy, dynamic sensor data

Quantum-Inspired

Models

CML models improve contextual learning and signal classification

Strategic Customers

Navy QuIRC (RF signal processing)

Army SAPIENT (PNT and sensor fusion)

European Space Agency (sensor integrity)

High Value AI Applications

RF signal classification GPS-denied navigation

Genomics and biomarker discovery

Edge-deployed defense AI

Quantum-inspired AI before fault-tolerant QPUs

Quantum Sensing: First Commercial Wave

>$30B

2040 sensing market

Assured Positioning, Navigation & Timing Threat detection & spectrum awareness

Space & Earth intelligence

Precision Timing

Optical clocks for GPS-independent time and synchronization

Quantum Spectrum

RF sensing for contested and congested electromagnetic environments

The Broadest Portfolio

Inertial Sensing

Navigation and motion sensing when GPS is unavailable or denied

Gravity Sensing

Quantum gravity measurement for space, Earth, and subsurface awareness

Source: McKinsey Quantum Technology Monitor (2025)

Quantum Timing: First Quantum Infrastructure

Tiqker Prime

Commercially available addressing legacy install base

Tiqker-C

Radar

Critical Infrastructure

Tiqker-HD/S

Space Ready

Tiqker Blade

Chip Scale

Data Center National Security

SWaP-C model drives adoption and more use cases

Deploying Quantum in Space

Quantum Missions With Nasa JPL

NASA QGG PathFinder

World's first quantum gravity sensor mission in space

NASA gravity anomaly visualization

Cold Atom Lab on ISS

Infleqtion technology on orbit since 2018, upgraded in 2026

Artemis II Astronaut Christina Koch installing Cold Atom Lab (2018)

Cold Atom Lab Launch & Delivery to ISS (May 2026)

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Disclaimer

Infleqtion Inc. published this content on May 14, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 14, 2026 at 20:16 UTC.