News & Events zu Qtrex Quantum Ltd (QTEX)QTEXQtrex Quantum Ltd

QTREX Reports 1H Revenue of $1.55M

Reports 1H revenue $1.55M vs $289,000 last year. Dagi Ben-Noon, Chief Executive Officer of QTREX, commented: "Less than two months after entering quantum computing, QTREX had already begun a joint technical evaluation with one of the world's five leading quantum computing companies. Since then, we have agreed additional requirements and completed several testing stages addressing specific parameters of its systems, advancing toward the performance and integration requirements of a partner at this level. In less than six months, we have built a network of customers and collaborators that includes Qarakal Quantum, U.S. government laboratories, defense companies and organizations, and academic institutions. This pace is the direct result of acquiring a business our leadership knows inside and out. That operational knowledge enabled seamless integration of its technology, people and manufacturing capabilities into QTREX and immediate execution of our quantum strategy."

D-Wave Quantum CFO Markovich Retires, Greg Golkov Takes Over

Welcome to the latest edition of "Quantum Leap" where The Fly decodes news and activity in the quantum computing space.CFO TRANSITION:D-Wave Quantumannounced that John Markovich is retiring and thus resigning from his position as CFO, effective September 2. Greg Golkov, the company's senior vice president of finance, will become the company's acting CFO and principal financial and principal accounting officer.BOARD ADDITIONS:IonQannounced the appointment of two new board members: technology finance expert Eric Ball, and former SkyWater Technology chairman and SamsungNorth America CEO Timothy Baxter.EXTREME ULTRAVIOLET LITHOGRAPHY:Xanadu Quantumhas announced the next phase of its collaboration with Mitsubishi Chemical to advance semiconductor fabrication technologies using quantum computing algorithms. This next phase is supported by national innovation programs from both the Canadian and Japanese governments, aiming to scale Xanadu and Mitsubishi's previous work in simulating a process in next-generation semiconductor fabrication: extreme ultraviolet lithography. In phase one of Xanadu and Mitsubishi's collaboration, the two companies demonstrated that quantum algorithms can accurately model key aspects of EUV lithography, specifically the optical properties of the photoresists used to etch lithographic patterns. The next phase of the collaboration aims to develop a production-ready workflow that will take parameters derived from Xanadu's quantum computing simulations and integrate them directly into Mitsubishi's multi-scale models to predict blur. Xanadu plans to provide a demonstration and roadmap for how quantum computing can contribute to the development of EUV resist materials through this collaboration. This second phase of the collaboration is being advanced with support from the National Research Council of Canada Industrial Research Assistance Program and Japan's Strategic Innovation Promotion Program. The relevant SIP project is led by the National Institute of Advanced Industrial Science and Technology and the Global Research and Development Center for Business by Quantum-AI Technology. Xanadu has previously received advisory services and more than $800,000 in funding from NRC IRAP, supporting its R&D in quantum computing across several projects.QUANTUM MOONSHOT:Infleqtionsaid it has helped Japan reach a major quantum milestone, supporting a research team led by Professor Kenji Ohmori at the Institute for Molecular Science, part of the National Institutes of Natural Sciences, in launching the country's first operational neutral-atom full-stack quantum computer. Infleqtion was also the only foreign quantum partner selected by the Japan Science and Technology Agency for its Quantum Moonshot program. "This milestone marks a pivotal moment for Japan's quantum ambitions as well as Infleqtion's role in advancing production-ready quantum platforms at scale," said Pranav Gokhale, Chief Technology Officer at Infleqtion. "Bringing a full-stack quantum system into production operation is a meaningful step toward fault-tolerant quantum computing that also serves as strong validation of neutral-atom architecture. Our quantum processing unit delivers the programmability, scalability and fidelity control that next-generation systems demand." As part of the next phase of the Ohmori Moonshot project that has just started in April 2026, the IMS team will focus on improving system integration, stability, and scalability, with the goal of realizing a high-performance neutral-atom fault-tolerant quantum computer with up to 10,000 physical qubits and quantum error detection and correction capabilities. The system is also expected to be made available to external users to support the development of applications and advance quantum error correction research across academia and industry.OCT DEPLOYMENT:Skyloom Global, an IonQ company specializing in the development of space-based optical technology, announced that dozens of additional optical communication terminals, OCTs, have been successfully deployed on orbit. The OCTs were aboard York Space Systems satellites supporting the Space Development Agency's, SDA, Proliferated Warfighter Space Architecture, PWSAERROR CORRECTION PROGRAM:Quantum X Labsannounced new results from its AI-driven quantum error-correction program. The company said, "Quantum computers are highly sensitive to noise, and quantum error correction is widely viewed as a necessary foundation for scaling quantum systems from experimental demonstrations toward reliable, useful computation. QXL's work is focused on one of the central challenges in this transition: developing AI-assisted decoders that can interpret quantum syndrome data efficiently and accurately, and that can continue improving as quantum hardware advances. The latest results were generated using Google'spublic surface-code dataset from a real quantum-hardware experiment. QXL evaluated its updated decoder on a public surface-code configuration using the same cross-validation approach used for Google's published decoder comparisons. In this test, QXL's updated decoder demonstrated improved performance against matching-family benchmarks, including Google's published correlated-matching and PyMatching benchmark results for the same configuration. Importantly, QXL's model was trained exclusively on synthetic samples and was not trained on real hardware shots from the Google dataset. The result supports a key principle behind QXL's technical roadmap: quantum error-correction decoders should not only perform well in controlled simulations, but should also be able to generalize toward real experimental syndrome data. This synthetic-to-real transition is a critical step toward practical QEC workflows that can support future low-latency and eventually real-time decoding. QXL's updated decoder combines quantum-code structure, syndrome information and AI-based error weighting to improve decoder performance while preserving a practical path toward efficient implementation. The latest result supports the relevance of this approach for real-hardware syndrome data and scalable QEC workflows. The AI component is designed for GPU acceleration and integration into broader QEC workflows, supporting QXL's roadmap toward low-latency and eventually real-time decoding. This roadmap includes real-hardware data evaluation, workflows with Nvidiaaccelerated computing and Nvidia CUDA-Q and planned IQCC syndrome experiments to advance more reliable and scalable quantum-computing systems."REGISTERED DIRECT OFFERING:Qtrex Quantumannounced that it has entered into a definitive securities purchase agreement with an existing institutional investor as well as a new global institutional investor for the purchase and sale of 11,111,111 ordinary shares in a registered direct offering. The gross proceeds to the company from the offering are expected to be approximately $10M, before deducting placement agent fees and other estimated offering expenses. The closing of the offering is expected to occur on or about August 21. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.ANALYST COMMENTARY:Ascendiant raised the firm's price target on Quantum Computingto $32 from $30 and keeps a Buy rating on the shares. The company reported strong growth in Q2 and issued a strong 2026 outlook, the analyst tells investors in a research note. The firm sees Quantum's revenue growth in 2026 and 2027 being a positive for the stock.Citi increased its price target on Infleqtion to $22 from $20 and keeps a Buy rating on the shares.BMO Capital initiated coverage of D-Wave Quantum with an Outperform rating and $35 price target. The firm told investors that the company is a revolutionary quantum computing company and one of the few in the world that currently has true commercial revenues. BMO Capital believes D-Wave is best positioned in the quantum space to have commercial success given industry first-mover advantage and dual-pronged technology approach.