Infleqtion Reports $66.9 Million Net Loss for Fiscal Year 2025 Amid Business Transformation

Infleqtion, Inc., formerly known as Churchill Capital Corp X, reported a net loss of $66.9 million for the fiscal year ending December 31, 2025, a significant increase from a loss of $51,910 in the previous year. The company's financial performance was impacted by a change in the fair value of a subscription agreement liability, which accounted for a loss of approximately $69.6 million. General and administrative costs also contributed to the overall loss, totaling $1.99 million. Despite these losses, the company generated $10.7 million in income from cash and marketable securities held in its Trust Account.

The company underwent a significant transformation during the reporting period, culminating in a business combination with ColdQuanta, Inc. on February 13, 2026. This merger resulted in the rebranding of the company to Infleqtion, Inc. and the transition of its stock listing from Nasdaq to the New York Stock Exchange under the ticker symbols "INFQ" for common stock and "INFQ WS" for warrants. The merger was approved by shareholders during a special meeting held on February 12, 2026, and marked a pivotal moment in the company's strategy to commercialize quantum technology.

As of December 31, 2025, Infleqtion had approximately $423.7 million in cash and marketable securities held in its Trust Account, which was established during its initial public offering (IPO) in May 2025. The IPO raised $414 million, with the company issuing 41.4 million public units at $10.00 each. The company also completed a private placement of 300,000 units for $3 million. Following the IPO, Infleqtion's total assets amounted to $424.9 million, reflecting a substantial increase from the previous year when total assets were reported at $157,937.

Operationally, Infleqtion is focused on developing and commercializing quantum technology products, including quantum sensing and computing solutions. The company has established partnerships with various government agencies and organizations, including the U.S. Department of Defense and NASA, to advance its technology. As of the end of 2025, Infleqtion employed 205 individuals, with a significant portion of its workforce dedicated to research and development in quantum technology.

Looking ahead, Infleqtion aims to achieve a milestone of 100 logical qubits by 2028, which is considered essential for achieving quantum advantage in commercially viable applications. The company is optimistic about its growth prospects, driven by increasing demand for quantum technologies across various sectors, including defense, national security, and commercial applications. However, the company also acknowledges the challenges it faces, including the need for substantial capital investment and the competitive landscape of the quantum technology industry.