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Technology · Software - Infrastructure · Canada · Updated May 10, 11:33pm
$15.71
Price
$355.7M
Market Cap
3
Employees
2.76
Beta
Christian Weedbrook
CEO
Business Description
Xanadu Quantum Technologies Inc. develops and provides photonic quantum computing hardware and software platforms, including cloud-based access to quantum computers and tools for quantum programming and simulation. The company provides access to photonic quantum computers through x-series devices available via the cloud, supporting programmable quantum gates and photon-number resolving detectors. It offers Pennylane, a Python library for quantum programming and differentiable quantum programming, enabling integration with machine learning tools and support for quantum-classical applications; Catalyst for just-in-time compilation and optimization of quantum algorithms; and Lightning, a high-performance quantum simulator for CPU and GPU that integrates with Pennylane. Users have access to documentation, tutorials, guides, and community-led resources for quantum machine learning, quantum chemistry simulations, and other quantum computing applications, along with collaboration and support from a team of quantum experts. The company serves professional clients in the quantum computing, software development, and machine learning sectors, as well as advanced users in research and development, including those utilizing high-performance computing and quantum hardware. The company was founded in 2016 and is based in Toronto, Canada.
Business History
Price History (1 Year)
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)
98.19
Stock Price: $15.71
EPS (Diluted): 0.16
EPS (Diluted): 0.16
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.19
Stock Price: $15.71
Total Equity: $296.69M
Shares: 29,973,333
Total Equity: $296.69M
Shares: 29,973,333
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-14.78
Market Cap: $355.67M
Total Debt: $0.00
Cash: $367,345
EBITDA: -$3.45M
Total Debt: $0.00
Cash: $367,345
EBITDA: -$3.45M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$351.7M
Market Cap: $355.67M
Total Debt: $0.00
Cash: $367,345
Total Debt: $0.00
Cash: $367,345
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
0.0%
Gross Profit: $0.00
Revenue: $0.00
Revenue: $0.00
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
0.0%
Operating Income: -$3.45M
Revenue: $0.00
Revenue: $0.00
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
0.0%
Net Income: $4.92M
Revenue: $0.00
Revenue: $0.00
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-16.0%
Net Income: $4.92M
Total Equity: $296.69M
Total Equity: $296.69M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-11.4%
Operating Income: -$3.45M
Tax Rate: 0.0%
Equity: $296.69M
Total Debt: $0.00
Cash: $367,345
Tax Rate: 0.0%
Equity: $296.69M
Total Debt: $0.00
Cash: $367,345
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.27
Current Assets: $554,850
Current Liabilities: $2.08M
Current Liabilities: $2.08M
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: $296.69M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $296.69M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
Revenue / Shares Outstanding
—
Revenue: $0.00
Shares: 29,973,333
Shares: 29,973,333
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$9.90
Total Equity: $296.69M
Shares: 29,973,333
Shares: 29,973,333
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.09
Operating CF: -$2.73M
CapEx: $0.00
Shares: 29,973,333
CapEx: $0.00
Shares: 29,973,333
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $15.71
Stock Price: $15.71
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $4.92M
Net Income: $4.92M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares XNDU 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)
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | $2.5M | $1.6M | $0 |
| Cost of Revenue | $605,000 | $466,000 | $0 |
| Gross Profit | $1.9M | $1.1M | $0 |
| Operating Expenses | $43.6M | $51.7M | $3.4M |
| Operating Income | -$41.7M | -$50.6M | -$3.4M |
| Net Income | -$35.6M | -$46.0M | $4.9M |
| EBITDA | -$37.2M | -$44.9M | -$3.4M |
| EPS | $0.00 | $0.00 | $0.16 |
| EPS (Diluted) | — | — | — |
Balance Sheet (Annual)
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Cash & Equivalents | $117.5M | $77.6M | $367,345 |
| Total Current Assets | $123.6M | $90.4M | $554,850 |
| Total Assets | $151.0M | $116.8M | $310.8M |
| Current Liabilities | $3.1M | $5.4M | $2.1M |
| Long-Term Debt | $6.8M | $16.0M | $0 |
| Total Liabilities | $19.1M | $29.3M | $14.2M |
| Total Equity | $131.9M | $87.5M | $296.7M |
| Retained Earnings | -$89.7M | -$135.6M | -$13.5M |
Cash Flow (Annual)
| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | -$29.5M | -$41.7M | -$2.7M |
| Capital Expenditure | -$10.4M | -$6.7M | $0 |
| Free Cash Flow | -$40.0M | -$48.4M | -$2.7M |
| Acquisitions (net) | $0 | $0 | $0 |
| Debt Repayment | — | — | — |
| Dividends Paid | — | — | — |
| Stock Buybacks | $0 | $0 | $0 |
| Net Change in Cash | -$34.5M | -$39.8M | $367,345 |
Analyst Estimates (Annual)
| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$7.2M $6.0M – $8.3M
|
$14.3M $14.3M – $14.3M
|
$86.1M $72.3M – $99.8M
|
$258.0M $216.8M – $299.3M
|
| EBITDA |
-$2.4M -$2.8M – -$2.0M
|
-$4.8M -$4.8M – -$4.8M
|
-$28.7M -$33.3M – -$24.1M
|
-$86.0M -$99.8M – -$72.3M
|
| Net Income |
-$14.9M -$17.9M – -$11.8M
|
-$17.7M -$21.4M – -$14.0M
|
-$16.5M -$19.9M – -$13.1M
|
-$12.0M -$14.5M – -$9.5M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
| Metric | 2024 | 2025 |
|---|---|---|
| Revenue Growth | -35.9% | -100.0% |
| Gross Profit Growth | -40.1% | -100.0% |
| Operating Income Growth | -21.3% | +93.2% |
| Net Income Growth | -29.2% | +110.7% |
| EBITDA Growth | -20.8% | +92.3% |
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.193 · 1946f027 · 2026-05-08 18:57:27