Overview
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- TickerINFQ on NYSE1
- IndustryServices-Computer Processing & Data Preparation1
- HeadquartersLouisville, Colorado1
- Incorporated inDE2
- Business address1315 West Century Drive, Suite 150, Louisville, Co 800272
- Filer category, Emerging growth company2
- Legal formCorporation
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“ coherence ” refers to the ability of a quantum system to maintain a well-defined phase relationship between different states in a superposition (when qubits are in multiple states at the same time).4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue63¢$19.7M
- Other costs37¢$11.4M
Out of $31.1M in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| General and administrative costs | $2.0M | $51.9K |
| Subscription agreement expense | $6.0M | $0 |
| Loss from operations | -$8.0M | -$51.9K |
| Income earned on cash and marketable securities held in Trust Account | $10.7M | $0 |
| Change of fair value of subscription agreement liability | -$69.6M | $0 |
| Total other loss | -$58.9M | $0 |
| NET LOSS | -$66.9M | -$51.9K |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.7
| Period ending | 2025-12-31 | 2025-04-30 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash | $702.2K | $0 | ||
| Prepaid expenses | $46.0K | $0 | ||
| Prepaid insurance | $321.4K | $0 | ||
| Total Current Assets | $1.1M | $0 | ||
| Deferred offering costs | $0 | $157.9K | ||
| Prepaid insurance- long term | $107.1K | $0 | ||
| Cash and marketable securities held in Trust Account | $423.7M | $0 | ||
| Total Assets | $424.9M | $157.9K | ||
| Accrued expenses | $80.2K | $0 | ||
| Accrued offering costs | $85.0K | $0 | ||
| Promissory note-related party | $0 | $184.8K | ||
| Subscription agreement liability | $75.6M | $0 | ||
| Total Current Liabilities | $75.8M | $184.8K | ||
| Deferred Underwriting Fee Payable | $3.0M | $0 | ||
| Total Liabilities | $78.8M | $184.8K | ||
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding | $0 | $0 | ||
| Additional paid-in capital | $0 | $24.0K | ||
| Accumulated deficit | $77.6M | $51.9K | ||
| Total Shareholders' Deficit | -$77.6M | -$26.9K | $0 | |
| Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit | $424.9M | $157.9K | ||
| Preferred stock, par value | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value | $10.00 | |||
| Sale of stock, number of shares issued in transaction | 414.0M shares | |||
| Sale of stock, price per share | $10.00 |
| Period ending | 2025-12-31 | 2025-04-30 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash | $702.2K | $0 | ||
| Prepaid expenses | $46.0K | $0 | ||
| Prepaid insurance | $321.4K | $0 | ||
| Total Current Assets | $1.1M | $0 | ||
| Deferred offering costs | $0 | $157.9K | ||
| Prepaid insurance- long term | $107.1K | $0 | ||
| Cash and marketable securities held in Trust Account | $423.7M | $0 | ||
| Total Assets | $424.9M | $157.9K | ||
| Accrued expenses | $80.2K | $0 | ||
| Accrued offering costs | $85.0K | $0 | ||
| Promissory note-related party | $0 | $184.8K | ||
| Subscription agreement liability | $75.6M | $0 | ||
| Total Current Liabilities | $75.8M | $184.8K | ||
| Deferred Underwriting Fee Payable | $3.0M | $0 | ||
| Total Liabilities | $78.8M | $184.8K | ||
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued or outstanding | $0 | $0 | ||
| Additional paid-in capital | $0 | $24.0K | ||
| Accumulated deficit | $77.6M | $51.9K | ||
| Total Shareholders' Deficit | -$77.6M | -$26.9K | $0 | |
| Total Liabilities, Class A Ordinary Shares Subject to Possible Redemption and Shareholders' Deficit | $424.9M | $157.9K | ||
| Preferred stock, par value | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, par value | $10.00 | |||
| Sale of stock, number of shares issued in transaction | 414.0M shares | |||
| Sale of stock, price per share | $10.00 |
Every line of the cash flow as filed: the last 2 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$66.9M | -$51.9K |
| Payment of formation costs through issuance of Class B Ordinary Shares | $0 | $4.8K |
| Payment of operating costs through Promissory note | $36.8K | $47.1K |
| Subscription agreement expense | $6.0M | $0 |
| Change of fair value of subscription agreement liability | $69.6M | $0 |
| Income earned on cash and marketable securities held in Trust | -$10.7M | $0 |
| Prepaid expenses | $29.0K | $0 |
| Prepaid insurance | -$428.6K | $0 |
| Accrued expenses | $80.2K | $0 |
| Net cash used in operating activities | -$2.3M | $0 |
| Investment of cash into Trust Account | -$414.0M | $0 |
| Cash withdrawn from Trust Account for working capital purposes | $1.0M | $0 |
| Net cash used in investing activities | -$413.0M | $0 |
| Proceeds from sale of Public Units | $414.0M | $0 |
| Proceeds from sale of Private Placement Units | $3.0M | $0 |
| Repayment of Promissory noterelated party | -$420.7K | $0 |
| Payment of offering costs | -$604.4K | $0 |
| Net cash provided by financing activities | $416.0M | $0 |
| Net Change in Cash | $702.2K | $0 |
| Offering costs included in accrued offering costs | $85.0K | $0 |
| Deferred offering costs paid by Sponsor in exchange for issuance of Class B Ordinary Shares | $0 | $20.2K |
| Deferred offering costs paid through Promissory noterelated party | $124.0K | $137.8K |
| Prepaid services contributed by Sponsor through Promissory noterelated party | $75.0K | $0 |
No quarter-by-quarter statement was filed.
Corporate structure
Infleqtion, Inc. sits at the top of its group. 4 entities, 4 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Infleqtion, Inc.
- S&G Foundation Filed SCHEDULE 13G on Infleqtion, Inc., latest Jun 11, 2026
- Global Frontier Investments LLC Filed SCHEDULE 13G/A on Infleqtion, Inc., latest Jun 9, 2026 (2 filings since Feb 23, 2026)
- MAVERICK CAPITAL LTD Filed SCHEDULE 13D/A on Infleqtion, Inc., latest May 26, 2026 (2 filings since Feb 18, 2026)
- Tyler Brous Filed SCHEDULE 13G/A on Infleqtion, Inc., latest Apr 28, 2026 (2 filings since Feb 27, 2026)
- BOKA Group Holdings I LP Filed SCHEDULE 13G on Infleqtion, Inc., latest Mar 10, 2026
- Churchill Sponsor X LLC Filed SCHEDULE 13D/A on Infleqtion, Inc., latest Feb 17, 2026
- Citadel Securities GP LLC Filed SCHEDULE 13G/A on Infleqtion, Inc., latest Feb 17, 2026 (2 filings since Oct 30, 2025)
- Empyrean Capital Partners, LP Filed SCHEDULE 13G/A on Infleqtion, Inc., latest Feb 17, 2026 (2 filings since Aug 14, 2025)
- Barclays Filed SCHEDULE 13G/A on Infleqtion, Inc., latest Feb 11, 2026 (3 filings since Aug 12, 2025)
- Fort Baker Capital Management LP Filed SCHEDULE 13G/A on Infleqtion, Inc., latest Nov 14, 2025 (2 filings since Aug 14, 2025)
- MERUS GLOBAL INVESTMENTS, LLC Filed SCHEDULE 13G on Infleqtion, Inc., latest Oct 7, 2025
- Michael Stuart Klein Filed SCHEDULE 13D/A on Infleqtion, Inc., latest Sep 11, 2025 (2 filings since May 21, 2025)
- Infleqtion, Inc. Louisville, Colorado
- ColdQuanta Australia Pty Ltd Subsidiary · Australia
- ColdQuanta UK Ltd Subsidiary · United Kingdom
- Infleqtion Japan GK Subsidiary · Japan
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
Leadership
Who has led Infleqtion, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerMatthew John Kinsella Feb 18, 2026 to now8
- Chief financial officerIlan Hart Feb 18, 2026 to now9
- Chief financial officerLee Jay Taragin May 13, 2025 to Feb 18, 202610
Board members and other officers (13)
- Chief Revenue OfficerPaul Lipman Feb 18, 2026 to now11
- Chief Technology OfficerPranav Gokhale Feb 18, 2026 to now12
- OfficerMichael Stuart Klein May 14, 2025 to now13
- Board memberCatherine P. Lego Feb 18, 2026 to now14
- Board memberJames Eric Bjornholt Feb 18, 2026 to now15
- Board memberKristina M. Johnson Feb 18, 2026 to now16
- Board memberLee S. Ainslie Iii. Feb 18, 2026 to now17
- Board memberMatthew John Kinsella Feb 18, 2026 to now8
- Board memberNicholas A. Johnson May 14, 2026 to now18
- Board memberWilliam M. Sherman May 13, 2025 to now19
- Board memberMichael Stuart Klein May 14, 2025 to now13
- Board memberPaul Lapping Aug 11, 2025 to now20
- General counselJason Dean Hall Feb 18, 2026 to now21
Named in SEC Form D filings
People the company listed in its private-offering notices.
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- ColdQuanta Australia Pty Ltd Australia3
- ColdQuanta UK Ltd England and Wales3
- Infleqtion Japan GK Japan3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
- Churchill Capital Corp X/CaymanMar 8, 2024 to Feb 18, 20262
Timeline
- Sep 24, 20268-K Regulation FD disclosure23
- Aug 18, 20268-K Results of operations24
- Aug 12, 20268-K Results of operations25
- May 14, 20268-K Executive or director change26
- May 14, 20268-K Results of operations27
- Apr 8, 20268-K Results of operations28
- Mar 31, 20268-K Change of auditor29
- Mar 31, 20268-K Results of operations30
- Mar 26, 20268-K Change of auditor31
- Feb 18, 2026New chief executive Matthew John Kinsella becomes CEO8
- Feb 17, 20268-K Entered a material agreement; Completed an acquisition or sale; Unregistered sale of shares32
- Feb 12, 20268-K Shareholder vote; Regulation FD disclosure; Other events33
- Feb 3, 20268-K Listing notice or transfer; Regulation FD disclosure34
Calendar
Coming up
- Nov 11, 2026Reports results for the quarter ending Sep/202635
When it reported results
- Aug 18, 2026Reported quarterly or annual results24
- Aug 12, 2026Reported quarterly or annual results25
- May 14, 2026Reported quarterly or annual results27
- Apr 8, 2026Reported quarterly or annual results28
- Mar 31, 2026Reported quarterly or annual results30
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
177 filings to the SEC since October 2021: 1 annual reports, 5 quarterly reports, 18 major events, 57 insider forms, 25 large holders, 1 private raises, 70 other. The latest 20:
- Sep 24, 20268-K EDGAR
- Aug 26, 2026424B3 EDGAR
- Aug 21, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 18, 2026424B3 EDGAR
- Aug 18, 20268-K/A EDGAR
- Aug 18, 202610-Q EDGAR
- Aug 17, 2026NT 10-Q EDGAR
- Aug 14, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- Aug 12, 20268-K EDGAR
- Jul 15, 2026424B3 EDGAR
- Jun 11, 2026SCHEDULE 13G EDGAR
- Jun 9, 2026SCHEDULE 13G/A EDGAR
- Jun 8, 2026424B3 EDGAR
- Jun 5, 20264 EDGAR
- Jun 1, 20264 EDGAR
- May 29, 20264/A AMENDED STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- May 29, 20264/A AMENDED STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- May 29, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- May 29, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
- May 28, 20264 EDGAR
The 177 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
25 open-market trades by officers, directors and large owners since October 2021: 3 buys and 22 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | MAVERICK CAPITAL MANAGEMENT LLCDirector | Sale | 164,824 | $13.02 | $2.1M | Form 4 |
| Aug 19, 2026 | MAVERICK CAPITAL MANAGEMENT LLCDirector | Sale | 33,405 | $12.62 | $421.6K | Form 4 |
| Aug 14, 2026 | AINSLIE LEE S IIIDirector | Buy | 52,071 | $12.42 | $646.7K | Form 4 |
| Aug 13, 2026 | AINSLIE LEE S IIIDirector | Sale | 1,609 | $12.19 | $19.6K | Form 4 |
| Aug 11, 2026 | AINSLIE LEE S IIIDirector | Sale | 1,079 | $11.82 | $12.8K | Form 4 |
| Aug 10, 2026 | AINSLIE LEE S IIIDirector | Sale | 5,488 | $11.69 | $64.2K | Form 4 |
| Aug 7, 2026 | AINSLIE LEE S IIIDirector | Sale | 6,346 | $11.87 | $75.3K | Form 4 |
| Aug 6, 2026 | AINSLIE LEE S IIIDirector | Sale | 8,057 | $11.09 | $89.4K | Form 4 |
| Aug 5, 2026 | AINSLIE LEE S IIIDirector | Sale | 1,324 | $10.88 | $14.4K | Form 4 |
| Aug 4, 2026 | AINSLIE LEE S IIIDirector | Sale | 28,168 | $11.44 | $322.2K | Form 4 |
| Jun 4, 2026 | Gokhale PranavChief Technology Officer | Sale | 120,000 | $17.73 | $2.1M | Form 4 |
| May 29, 2026 | SINGER DAVID BDirector | Sale | 1,797,637 | $16.10 | $28.9M | Form 4 |
| May 29, 2026 | MAVERICK CAPITAL MANAGEMENT LLCDirector | Sale | 1,797,637 | $16.10 | $28.9M | Form 4 |
| May 28, 2026 | JOHNSON KRISTINA MDirector | Sale | 50,000 | $17.07 | $853.5K | Form 4 |
| May 27, 2026 | SINGER DAVID BDirector | Sale | 3,071,623 | $15.50 | $47.6M | Form 4 |
| May 27, 2026 | MAVERICK CAPITAL MANAGEMENT LLCDirector | Sale | 3,071,623 | $15.50 | $47.6M | Form 4 |
| May 26, 2026 | Kinsella Matthew JohnChief Executive Officer | Sale | 112,065 | $15.56 | $1.7M | Form 4 |
| May 26, 2026 | Lipman PaulChief Revenue Officer | Sale | 100,000 | $15.83 | $1.6M | Form 4 |
| May 22, 2026 | Kinsella Matthew JohnChief Executive Officer | Sale | 657,889 | $17.29 | $11.4M | Form 4 |
| May 22, 2026 | SINGER DAVID BDirector | Sale | 5,249,967 | $16.76 | $88.0M | Form 4 |
All 25 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- S&G FoundationSCHEDULE 13G, 1 filing Jun 11, 202636
- Global Frontier Investments LLCSCHEDULE 13G/A, 2 filings Feb 23, 2026 to Jun 9, 202637
- MAVERICK CAPITAL LTDSCHEDULE 13D/A, 2 filings Feb 18, 2026 to May 26, 202638
- Tyler BrousSCHEDULE 13G/A, 2 filings Feb 27, 2026 to Apr 28, 202639
- BOKA Group Holdings I LPSCHEDULE 13G, 1 filing Mar 10, 202640
- Churchill Sponsor X LLCSCHEDULE 13D/A, 1 filing Feb 17, 202641
- Citadel Securities GP LLCSCHEDULE 13G/A, 2 filings Oct 30, 2025 to Feb 17, 202642
- Empyrean Capital Partners, LPSCHEDULE 13G/A, 2 filings Aug 14, 2025 to Feb 17, 202643
- BarclaysSCHEDULE 13G/A, 3 filings Aug 12, 2025 to Feb 11, 202644
- Fort Baker Capital Management LPSCHEDULE 13G/A, 2 filings Aug 14, 2025 to Nov 14, 202545
- MERUS GLOBAL INVESTMENTS, LLCSCHEDULE 13G, 1 filing Oct 7, 202546
- Michael Stuart KleinSCHEDULE 13D/A, 2 filings May 21, 2025 to Sep 11, 202547
- Sculptor Capital LPSCHEDULE 13G/A, 2 filings May 21, 2025 to Aug 14, 202548
- MMCAP International Inc. SPCSCHEDULE 13G/A, 2 filings May 20, 2025 to Aug 12, 202549
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Private raises (Form D) $126.5M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2026 | $126.5M | $126.5M |
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| S&G Foundation | 11,573,878 | $154.2M | 7.2% | New |
| BlackRock, Inc. | 9,034,636 | $120.3M | 0.0% | New |
| Defiance ETFs, LLC | 4,937,608 | $63.8M | 0.9% | New |
| Glynn Capital Management LLC | 4,315,260 | $57.5M | 15.8% | New |
| Morgan Stanley | 3,401,767 | $45.3M | 0.0% | +3,176,460 |
| Geode Capital Management, LLC | 3,197,940 | $42.6M | 0.0% | New |
| UBS Group AG | 3,160,098 | $42.1M | 0.0% | +2,528,097 |
| Vanguard Capital Management LLC | 3,123,550 | $41.6M | 0.0% | New |
| State Street Corp | 2,627,458 | $35.0M | 0.0% | New |
| Vanguard Portfolio Management LLC | 2,386,925 | $31.8M | 0.0% | New |
| Citadel Advisors LLC | 2,319,687 | $30.9M | 0.0% | −72,938 |
| Davis Asset Management, L.P. | 2,085,798 | $27.8M | 0.7% | New |
| Viking Global Investors LP | 2,032,649 | $27.1M | 0.1% | New |
| Jpmorgan Chase & Co | 1,788,741 | $24.8M | 0.0% | New |
| Renaissance Technologies LLC | 1,681,200 | $22.4M | 0.0% | +1,463,900 |
| Van Eck Associates Corp | 1,391,877 | $18.5M | 0.0% | New |
| Jane Street Group, LLC | 1,223,144 | $16.3M | 0.0% | New |
| Charles Schwab Investment Management Inc | 1,177,782 | $15.7M | 0.0% | New |
| QVT Financial LP | 1,170,881 | $15.6M | 1.0% | −83,339 |
| Bank of New York Mellon Corp | 1,076,802 | $14.3M | 0.0% | +1,002,576 |
| 1900 Wealth Management LLC | 1,074,977 | $14.3M | 0.8% | +1,027,063 |
| Northern Trust Corp | 1,014,205 | $13.5M | 0.0% | New |
| Susquehanna International Group, Llp | 1,009,487 | $13.4M | 0.0% | +571,005 |
| Vanguard Fiduciary Trust Co | 923,867 | $12.3M | 0.0% | New |
| Bnp Paribas Financial Markets | 814,925 | $10.9M | 0.0% | +810,425 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Infleqtion, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARInfleqtion, Inc.1
- CIK0002007825
- Employer ID (EIN)86-19462914
- Filer statusNon-accelerated filer an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)7374 Services-Computer Processing & Data Preparation1
- SEC reviewing officeOffice of Technology, Division of Corporation Finance1
- Business address1315 West Century Drive, Suite 150, Louisville, CO 800271
- Phone(303) 440-12841
- Shares outstanding225,357,052 as of Aug 14, 20265
- Public float$426.4M as of Jun 30, 20254
- AuditorWithumSmith, New York PCAOB ID 1004
- On EDGAR sinceMar 8, 20241
- Filings177 in all: 4 (34), 425 (29), 3 (19), 8-K (15), SCHEDULE 13G (12), 424B3 (8), SCHEDULE 13G/A (8), 10-Q (5)1
All 31 form types
4/A (4), UPLOAD (4), 8-K/A (3), CORRESP (3), DRS/A (3), DRSLTR (3), EFFECT (3), SCHEDULE 13D/A (3), 8-A12B (2), CERT (2), DRS (2), S-1 (2), S-4/A (2), SCHEDULE 13D (2), 10-K (1), 25 (1), 424B4 (1), D (1), NT 10-Q (1), S-1/A (1), S-1MEF (1), S-4 (1), S-8 (1)
- Latest filingsAnnual report (10-K) Mar 31, 2026
Quarterly report (10-Q) Aug 18, 2026
Latest 8-K (8-K) Sep 24, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share | INFQ WS | The New York Stock Exchange |
| Common Stock, par value $0.0001 per share | INFQ | The New York Stock Exchange |
From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Infleqtion, Inc. names in Item 1A of its 10-K filed Mar 31, 2026: 65 risks under these headings, as written.4
- Risks Related to Our Business
- Our business involves technology that is not mature, and we face significant barriers in our attempts to produce products that meet desired technical specifications.
- We have a history of operating losses and may not achieve or sustain profitability in the future.
- If we do not adequately fund our research and development efforts or use research and development teams effectively, we may not be able to achieve our technological goals, build scalable, commercial quantum solutions, or compete effectively, and our business and operating results may be harmed.
- If our computers fail to achieve a broad quantum advantage, our business, financial condition and future prospects may be harmed.
- Our estimates of market opportunity and forecasts of market growth may prove to be inaccurate.
- We may not be able to scale our business quickly enough to meet customer and market demand, which could adversely affect our financial condition and results of operations or cause us to fail to execute on our business strategies.
- Our business could be harmed if we fail to manage growth effectively.
- Even if the market in which we compete achieves the forecasted growth, our business could fail to grow at similar rates, if at all.
- We will require substantial additional capital to pursue our business objectives and respond to business opportunities, challenges or unforeseen circumstances, and we cannot be sure that additional financing will be available.
- We are or may be subject to risks associated with our current or future partnerships or strategic relationships, and we may not be able to maintain our current strategic partnerships, including relationships with certain government entities or prime contractors, or realize the anticipated benefits from any such relationships or opportunities in the future.
- Our ability to use net operating loss carryforwards and certain other tax attributes may be limited.
The other 54 risks
- In the future we may be required to record significant charges for impairment of our long-lived assets, other assets or investments.
- If our quantum solutions are not compatible with some or all industry-standard software and hardware in the future, our business could be harmed.
- The quantum technology industry is competitive on a global scale, and we may not be successful in competing in this industry or establishing and maintaining confidence in our long-term business prospects among current and future partners and customers.
- The quantum technology industry is in its early stages and volatile, and if it does not develop, if it develops slower than we expect, if it develops in a manner that does not require use of our quantum solutions, if it encounters negative publicity or if our solutions do not drive commercial engagement, the growth of our business will be harmed.
- We may not be able to accurately estimate the future supply and demand for our products, including our quantum solutions, which could result in a variety of inefficiencies in our business and hinder our ability to generate revenue. If we fail to accurately predict our manufacturing requirements, we could incur additional costs or experience delays.
- We are highly dependent on our key employees who have specialized knowledge, and our ability to attract and retain senior management and other key employees is critical to our success.
- We rely heavily on sales to certain customers, including the U.S. government.
- Our future growth and success depends in part on our ability to sell effectively to government entities and large enterprises.
- Legacy Infleqtion identified material weaknesses in its internal control over financial reporting. If our remediation of such material weaknesses is not effective, or if we identify additional material weaknesses in the future or otherwise fail to develop and maintain effective internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable laws and regulations could be impaired.
- If our information technology systems or those third parties with whom we work or our data, are or were compromised, we could experience adverse consequences resulting from such compromise, including but not limited to regulatory investigations or actions, litigation, fines and penalties, disruptions of our business operations, reputational harm, loss of revenue or profits, loss of customers or sales and other adverse consequences.
- Our use of generative AI tools may pose risks to our proprietary software and systems and subject us to legal liability.
- Unfavorable conditions in our industry, the global economy or other catastrophic events may disrupt our business, could limit our ability to grow and could negatively affect our results of operations.
- The occurrence of adverse events, cancellations of significant projects, delays in project timelines, adjustments in cost structures, and other negative developments announced by competitors could have an impact on our operations, financial performance, and future prospects.
- Government actions and regulations, such as tariffs and trade protection measures may adversely impact our business, including our ability to obtain products from our suppliers.
- Acquisitions, divestitures, strategic investments and strategic partnerships could disrupt our business and harm our financial condition and operating results and our stock price could decline.
- We could suffer future disruptions, outages, defects and other performance and quality problems with our quantum or information systems, and other infrastructure on which it relies.
- An element of our business is currently dependent upon our relationship with our cloud providers. There are no assurances that we will be able to commercialize quantum computers from our relationships with cloud providers.
- Risks Related to Our International Expansion and Future Operations
- Because our success depends, in part, on our ability to expand sales internationally, our business will be susceptible to risks associated with international operations.
- Our international sales and operations subject us to additional risks and costs and exposure to foreign currency exchange rate fluctuations, that can adversely affect our business, financial condition, revenues, results of operations or cash flows.
- Our international operations may subject us to greater than anticipated tax liabilities.
- Risks Related to Compliance with Law, Government Regulation and Litigation
- We are subject to governmental export and import controls and trade and economic sanctions that could impair our ability to compete in global markets and subject us to liability if we are not in full compliance with applicable laws and other controls.
- We are subject to U.S. and foreign anti-corruption, anti-bribery and similar laws, and non-compliance with such laws can subject us to criminal or civil liability and harm our business.
- Contracts with government entities subject us to risks, including early termination, audits, investigations, sanctions and penalties.
- Certain of our activities are subject to regulations relating to use of radioactive material, compliance with which may be costly, and a failure to comply with these regulations may materially and adversely affect our business.
- We are subject to requirements relating to environmental and safety regulations and environmental remediation matters, which could adversely affect our business, results of operation and reputation.
- Changes in tax laws could adversely affect our business prospects and financial results.
- Our operations and business plans could be significantly impacted by changes in federal, state, and local government policies and priorities.
- Our business and operations could be negatively affected if we become subject to litigation, including any securities litigation or stockholder activism, which could cause us to incur significant expense, hinder execution of business and growth strategy and impact our stock price.
- Our business is exposed to risks associated with litigation, investigations and regulatory proceedings.
- Risks Related to Our Intellectual Property
- If we are unable to obtain and maintain patent protection for our products and technology, or if the scope of the patent protection obtained is not sufficiently broad or robust, our competitors could develop and commercialize products and technology similar or identical to ours, and our ability to successfully commercialize our products and technology may be adversely affected. Moreover, our trade secrets could be compromised, which could cause us to lose the competitive advantage resulting from these trade secrets.
- Our patent applications may not result in issued patents or our patent rights may be contested, circumvented, invalidated or limited in scope, any of which could have a material adverse effect on our competitive position.
- Our intellectual property often results from the performance of complex agreements that are subject to interpretation.
- We may face patent infringement and other intellectual property claims that could be costly to defend, result in injunctions and significant damage awards or other costs (including indemnification of third parties or costly licensing arrangements (if licenses are available at all)) and limit our ability to use certain key technologies in the future or require development of non-infringing products, services or technologies, which could result in a significant expenditure and otherwise harm our business.
- Some of our intellectual property and in-licensed intellectual property has been conceived or developed through government-funded research and thus may be subject to federal regulations providing for certain rights for the U.S. government or imposing certain obligations on us, such as a license to the U.S. government covered by such intellectual property, “march-in” rights, certain reporting requirements and a preference for U.S.-based companies, and compliance with such regulations may limit our exclusive rights and our ability to contract with non-U.S. manufacturers.
- Additional Risks Related to Ownership of Our Common Stock and Our Operating as a Public Company
- The market price of our common stock may be volatile, which could cause the value of your investment to decline.
- If our operating and financial performance in any given period does not meet the guidance provided to the public or the expectations of investment analysts, the market price of our common stock may decline.
- Our financial results may vary significantly from quarter to quarter.
- Future resales of common stock may cause the market price of our securities to drop significantly, even if our business is doing well.
- Future issuances of debt securities and equity or equity-linked securities may adversely affect the market price of our common stock and may be dilutive to existing stockholders.
- Our failure to meet the continued listing requirements of NYSE could result in a delisting of our Company’s securities.
- Short sellers may engage in manipulative activity intended to drive down the market price of our common stock, which could also result in related regulatory and governmental scrutiny, among other effects.
- If we fail to establish and maintain proper and effective internal control over financial reporting, as a public company our ability to produce accurate and timely financial statements could be impaired, investors or analysts may lose confidence in our financial reporting, the trading price of our common stock may decline and we could face regulatory investigations or actions.
- If securities or industry analysts do not publish research or reports about our business or publish negative reports about our business, our share price and trading volume could decline.
- We have incurred and will continue to incur significant expenses and administrative burdens as a public company, which may adversely affect our business, prospects, financial condition and results of operations.
- We do not intend to pay cash dividends for the foreseeable future.
- We are an emerging growth company within the meaning of the Securities Act, and to the extent we take advantage of certain exemptions from disclosure requirements available to emerging growth companies, this could make our securities less attractive to investors and may make it more difficult to compare our performance with other public companies.
- Market values of growth-oriented companies like ours, particularly companies that entered into business combination agreements with SPACs, have at times been affected by adverse economic and market forces which may induce downward pressure on the price and trading volume of our common stock.
- General Risk Factors
- Our employees and independent contractors may engage in misconduct or other improper activities, which could have an adverse effect on our business, prospects, financial condition and operating results.
- Claims for indemnification by our directors and officers may reduce our available funds to satisfy successful third-party claims against us and may reduce the amount of money available to us.
- We may redeem the Public Warrants for cash when the price per share of our Common Stock equals or exceeds $18.00.
- There is no guarantee that the Warrants will be in the money at the time they become exercisable, and they may expire worthless.
- The provisions of our Certificate of Incorporation requiring exclusive forum in the Court of Chancery of the State of Delaware and the federal district courts of the United States for certain types of lawsuits may have the effect of discouraging certain lawsuits, including derivative lawsuits and lawsuits against our directors and officers, by limiting plaintiffs’ ability to bring a claim in a judicial forum that they find favorable.
- Uncertain global macroeconomic, political conditions and natural or man-made interruptions could materially adversely affect our business prospects, financial condition, results of operations and cash flows.
Legal proceedings
From time to time, we may become involved in legal proceedings relating to claims arising from the ordinary course of business. Our management believe that there are currently no claims or actions pending against us, the ultimate disposition of which could have a material adverse effect on our results of operations, financial condition or cash flows.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 9SEC EDGARIlan Hart, Chief financial officer
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- 11SEC EDGARPaul Lipman, Chief Revenue Officer
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- 13SEC EDGARMichael Stuart Klein, Officer
- 14SEC EDGARCatherine P. Lego, Board member
- 15SEC EDGARJames Eric Bjornholt, Board member
- 16SEC EDGARKristina M. Johnson, Board member
- 17SEC EDGARLee S. Ainslie Iii., Board member
- 18SEC EDGARNicholas A. Johnson, Board member
- 19SEC EDGARWilliam M. Sherman, Board member
- 20SEC EDGARPaul Lapping, Board member
- 21SEC EDGARJason Dean Hall, General counsel
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- 23SEC EDGARRegulation FD disclosure
- 24SEC EDGARResults of operations
- 25SEC EDGARResults of operations
- 26SEC EDGARExecutive or director change
- 27SEC EDGARResults of operations
- 28SEC EDGARResults of operations
- 29SEC EDGARChange of auditor
- 30SEC EDGARResults of operations
- 31SEC EDGARChange of auditor
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- 35NasdaqNasdaq calendar
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