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ARQQW

Arqit Quantum Inc.

ARQQW

Arqit Quantum Inc. • NASDAQ
$0.33 ▲ 10.00% (+0.03)
Market Cap $498.38 M
52w High $0.75
52w Low $0.29
Dividend Yield 0%
P/E -0.7
Volume 39.61K
Outstanding Shares 1.51B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $168K ▼ $17.964M ▲ $-17.166M ▼ -10.218K% ▼ $-1.34 ▲ $-16.886M ▼
Q4-2024 $174K ▲ $7.476M ▼ $-6.909M ▲ -3.971K% ▲ $-3.45 ▲ $-1.149M ▲
Q2-2024 $119K ▼ $15.623M ▼ $-47.672M ▲ -40.061K% ▼ $-7.34 ▲ $-19.042M ▲
Q4-2023 $621K ▲ $30.37M ▲ $-48.557M ▼ -7.819K% ▲ $-9.45 ▼ $-26.234M ▲
Q2-2023 $19K $24.023M $-21.836M -114.926K% $-2.52 $-31.914M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $24.781M ▲ $29.385M ▲ $13.407M ▼ $15.978M ▲
Q4-2024 $18.705M ▼ $26.719M ▼ $14.901M ▼ $11.818M ▼
Q2-2024 $21.328M ▼ $41.804M ▼ $26.473M ▼ $15.331M ▼
Q4-2023 $44.455M ▲ $99.785M ▼ $33.132M ▼ $66.653M ▼
Q2-2023 $41.504M $114.467M $34.304M $80.163M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-17.166M ▼ $-12.476M ▼ $313K ▲ $18.218M ▲ $0 ▲ $-12.506M ▲
Q4-2024 $-10.333M ▲ $-11.471M ▲ $-1.998M ▼ $11.093M ▲ $-2.623M ▲ $-14.793M ▲
Q2-2024 $-47.672M ▲ $-22.655M ▲ $-400K ▼ $95K ▼ $-23.127M ▼ $-22.661M ▲
Q4-2023 $-52.072M ▼ $-24.707M ▼ $1.014M ▲ $26.493M ▲ $2.951M ▲ $-23.693M ▼
Q2-2023 $-21.836M $-9.356M $-17.137M $19.639M $-7.462M $-9.563M

Five-Year Company Overview

Income Statement

Income Statement The business is still essentially pre‑revenue, with only a token amount of sales over the past several years. That means all the reported results are being driven by spending, not by a mature customer base. Operating losses are steady but much smaller than they were a few years ago, which suggests cost discipline and some restructuring. The one year that shows a profit looks more like an accounting or one‑off item than the result of a healthy, recurring business. Overall, the company is still in the investment and build‑out phase rather than a clear commercial scale‑up phase.

Balance Sheet

Balance Sheet The balance sheet is very lightweight, almost entirely made up of cash and a small amount of other assets. Debt is minimal, which is a positive from a financial risk standpoint, but shareholders’ equity is thin and has moved from negative to positive and then down again. This combination points to a company that has cleaned up past issues but still has only a modest financial cushion. The balance sheet can support a small operation, but sustained losses or a step‑up in investment would likely require fresh capital over time.

Cash Flow

Cash Flow The company has consistently been burning cash in its day‑to‑day operations, which is typical for an early‑stage technology business without meaningful revenue. Investment spending on equipment and development has been modest, so the cash burn is mostly about funding people, research, and product development rather than big hardware projects. There is no sign yet of the business funding itself from customer receipts; it is still reliant on its existing cash and, eventually, potential outside financing to continue executing its plan.

Competitive Edge

Competitive Edge Arqit is positioned in a very specialized niche: quantum‑safe encryption. It benefits from being an early mover, a software‑first approach that can be deployed widely without new hardware, and a growing set of patents. Partnerships with government agencies, defense ecosystems, and large network operators give it credibility and access to demanding customers, which is a real strength. At the same time, the quantum‑security field is crowded with ambitious players, standards are still evolving, and many larger firms are also pushing their own solutions. So Arqit’s moat exists, but it is still being tested in a young and fast‑changing market.

Innovation and R&D

Innovation and R&D The company is clearly innovation‑led. Its core symmetric key agreement platform, lightweight software agents, and flexible mix of terrestrial and optional satellite delivery show a focus on practical, scalable quantum‑safe security rather than pure lab‑style research. New products tailored to telecom, defense, and edge environments suggest active product development and close attention to customer needs. Continued R&D, patenting, and adaptation to evolving cryptography standards will be critical: the firm’s future depends on staying ahead technologically and proving that its approach is both more secure and easier to adopt than alternatives.

Summary

Arqit Quantum is an early‑stage, research‑heavy cybersecurity company aiming to lead in quantum‑safe encryption, but it remains at a very early commercial stage. Financially, it has minimal revenue, ongoing operating losses, a small but mostly cash‑based balance sheet, and persistent cash outflows. Strategically, it combines patented technology, a software‑centric model, and high‑profile partnerships to build a niche in a potentially important future market. The main opportunity lies in successfully converting this technical and partnership position into recurring, scalable revenue. The main risks are continued cash burn, the need for external funding, intense competition, evolving standards, and the uncertainty of how quickly customers will adopt quantum‑safe solutions at scale.