Technology · Software - Infrastructure
Price
$26.66
Market Cap
$463.9M
Employees
82
Beta
2.35
Avg Volume
790,890
CEO
Andrew James Leaver
Business Description
Arqit Quantum Inc. is a London, UK-based company that provides cutting-edge cybersecurity solutions, leveraging both satellite and ground-based infrastructure to protect its clients. A core component of its service portfolio is QuantumCloud, an innovative platform that facilitates the download of a compact software agent onto any device. This agent's primary purpose is to cooperatively generate strong encryption keys by interacting with other connected devices.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-10.41
Stock Price: $26.66
EPS (Diluted): -2.56
EPS (Diluted): -2.56
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
19.62
Stock Price: $26.66
Total Equity: $27.24M
Shares: 13,788,250
Total Equity: $27.24M
Shares: 13,788,250
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-13.53
Market Cap: $463.95M
Total Debt: $0.00
Cash: $36.98M
EBITDA: -$36.81M
Total Debt: $0.00
Cash: $36.98M
EBITDA: -$36.81M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$498.0M
Market Cap: $463.95M
Total Debt: $0.00
Cash: $36.98M
Total Debt: $0.00
Cash: $36.98M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
1,008.10
Stock Price: $26.66
Revenue: $530,000
Shares: 13,788,250
Revenue: $530,000
Shares: 13,788,250
EV/Sales (Total value vs revenue — works when P/E can't)
API939.69
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
-43.4%
Gross Profit: -$230,000
Revenue: $530,000
Revenue: $530,000
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-6,636.0%
Operating Income: -$35.17M
Revenue: $530,000
Revenue: $530,000
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-6,668.5%
Net Income: -$35.34M
Revenue: $530,000
Revenue: $530,000
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-129.8%
Net Income: -$35.34M
Total Equity: $27.24M
Total Equity: $27.24M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
340.0%
Operating Income: -$35.17M
Tax Rate: 5.8%
Equity: $27.24M
Total Debt: $0.00
Cash: $36.98M
Tax Rate: 5.8%
Equity: $27.24M
Total Debt: $0.00
Cash: $36.98M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
2.69
Current Assets: $40.02M
Current Liabilities: $14.90M
Current Liabilities: $14.90M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $27.24M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $27.24M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.04
Revenue: $530,000
Shares: 13,788,250
Shares: 13,788,250
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$1.98
Total Equity: $27.24M
Shares: 13,788,250
Shares: 13,788,250
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-2.15
Operating CF: -$29.55M
CapEx: -$33,000
Shares: 13,788,250
CapEx: -$33,000
Shares: 13,788,250
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $26.66
Stock Price: $26.66
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$35.34M
Net Income: -$35.34M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares ARQQ against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 2:49pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $47,910 | $7.2M | $640,000 | $293,000 | $530,000 |
| Cost of Revenue | $187,000 | $1.3M | $2.3M | $1.9M | $760,000 |
| Gross Profit | $-139,000 | $5.9M | -$1.6M | -$1.6M | $-230,000 |
| Operating Expenses | $172.6M | $71.0M | $82.8M | $23.1M | $34.9M |
| Operating Income | -$172.6M | -$52.1M | -$54.5M | -$24.7M | -$35.2M |
| Net Income | -$271.7M | $65.1M | -$70.4M | -$54.6M | -$35.3M |
| EBITDA | -$270.6M | $54.9M | -$41.2M | -$20.2M | -$36.8M |
| EPS | $-99.42 | $13.43 | $-13.39 | $-10.79 | $-2.56 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 2:49pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $87.0M | $49.0M | $44.5M | $18.7M | $37.0M |
| Total Current Assets | $90.3M | $56.6M | $86.3M | $23.7M | $40.0M |
| Total Assets | $113.7M | $123.9M | $99.8M | $26.7M | $42.9M |
| Current Liabilities | $17.1M | $23.8M | $26.8M | $12.2M | $14.9M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $147.6M | $45.3M | $33.1M | $14.9M | $15.6M |
| Total Equity | -$33.8M | $78.6M | $66.7M | $11.8M | $27.2M |
| Retained Earnings | -$272.2M | -$207.1M | -$277.5M | -$332.1M | -$373.8M |
Cash Flow (Annual)
Last updated: Jun 24, 2026 2:49pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$24.0M | -$26.9M | -$32.8M | -$34.1M | -$29.6M |
| Capital Expenditure | -$9.3M | -$24.4M | -$16.1M | -$3.3M | $-33,000 |
| Free Cash Flow | -$33.3M | -$51.3M | -$48.9M | -$37.5M | -$29.6M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $86.8M | -$38.0M | -$4.5M | -$25.8M | $18.3M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 10:17am (23h ago)| Metric | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|
| Revenue |
$400,000 $400,000 – $400,000
|
$537,000 $537,000 – $537,000
|
$2.5M $2.5M – $2.5M
|
$7.8M $7.8M – $7.8M
|
| EBITDA |
$-240,000 $-240,000 – $-240,000
|
$-322,200 $-322,200 – $-322,200
|
-$1.5M -$1.5M – -$1.5M
|
-$4.7M -$4.7M – -$4.7M
|
| Net Income |
-$62.3M -$62.3M – -$62.3M
|
-$35.2M -$35.2M – -$35.2M
|
-$21.0M -$21.0M – -$21.0M
|
-$14.6M -$14.6M – -$14.6M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 2:49pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +14,953.2% | -91.1% | -54.2% | +80.9% |
| Gross Profit Growth | +4,359.0% | -127.9% | +3.5% | +85.5% |
| Operating Income Growth | +69.8% | -4.6% | +54.7% | -42.5% |
| Net Income Growth | +123.9% | -208.2% | +22.5% | +35.2% |
| EBITDA Growth | +120.3% | -175.0% | +51.0% | -82.3% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for ARQQ — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30