Finnish quantum computer maker IQM reported third-quarter 2026 revenue of €8.9 million, up from €5.9 million a year earlier, and €42.2 million in new orders. Its order backlog reached €102.5 million at the end of September.
The quarter's largest contract, €33 million, is for the Halocene platform for the LUMI AI Factory of Finland's CSC computing center. According to IQM, the system is on track to become Europe's first superconducting quantum computer with logical qubits, which combine several physical qubits to detect and correct errors. The company also made its first sale in South America, to the Eldorado Research Institute in Brazil, and a second system sale to TOYO in Japan.
IQM said it has sold 31 quantum computers and delivered 17, and kept its full-year order forecast of €65 million to €75 million. Its quarterly net loss widened sharply, partly because of a €127.1 million share-listing expense. The company is aiming for its first error-correction demonstrators in 2027.