ARQQ

MKT CAP:$230M

Arqit Quantum Inc.

Market Cap

$230M

Technology·Software - Infrastructure·🇬🇧 United Kingdom·NASDAQ

Technology·Software Infra·🇬🇧·NASDAQ

Stock Price

$14.45-$10.09 (-41.12%)

Apr 23, 2026

Company Details

Arqit Quantum Inc. provides cybersecurity services through satellite and terrestrial platforms in the United Kingdom. It offers QuantumCloud that enables any device to download a lightweight software agent, which can create encryption keys ...

CEO

Andrew James Leaver

IPO Date

Apr 1, 2021

Website

arqit.uk

Key Metrics TTM

Revenue

$6M

— YoY

Net Income

-$29M

EPS (Diluted)

-$1.25

Free Cash Flow

-$71M

Revenue / Share

$1.11

Gross Margin

55.5%

Operating Margin

-1324.2%

Net Margin

-511.3%

FCF Margin

-1276.0%

P/S

41.0x

P/E

—

Earnings Reports

Q2 2025

Mar 30, 2025

$168.0K+41.2%EPS -$3.39

Q2 2024

Mar 30, 2024

$119.0K+526.3%EPS -$7.34

FY 2023

Nov 21, 2023

$640.0K-91.1%EPS -$13.39

Q2 2023

Mar 30, 2023

$19.0K-99.6%EPS -$2.52

FY 2022

Dec 14, 2022

$7M+14953.2%EPS $13.34

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 19	$0	-$154	-$414.0K
Q4 19	$0	-$154	-$414.0K
Q2 21	$0	$0	-$5M
Q2 22	$5M	$5M	-$14M
Q2 23	$19.0K	-$1M	-$25M
Q2 24	$119.0K	-$1M	-$17M
Q2 25	$168.0K	$168.0K	-$18M

Valuation

Quarter	P/S	P/E
Q2 19	—	—
Q4 19	—	—
Q2 21	—	—
Q2 22	368.3x	36.7x
Q2 23	31.0x	5.4x
Q2 24	15.7x	—
Q2 25	31.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 19	$2M	$104.7K
Q4 19	$2M	$104.7K
Q2 21	-$2M	-$6M
Q2 22	-$13M	-$27M
Q2 23	-$9M	-$10M
Q2 24	-$23M	-$23M
Q2 25	-$12M	-$13M

Capital Expenditures

Quarter	CapEx
Q2 19	$2M
Q4 19	$2M
Q2 21	$4M
Q2 22	$13M
Q2 23	$207.0K
Q2 24	$6.0K
Q2 25	$30.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 23	—	+6031.2%
Q2 24	—	+3947.6%
Q2 25	—	+229.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 19	$7.6K	—
Q4 19	$7.6K	—
Q2 21	$0	—
Q2 22	$5M	95.7%
Q2 23	$9M	47368.4%
Q2 24	-$2M	-1260.5%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 19	$487.1K	$64.5K
Q4 19	$487.1K	$64.5K
Q2 21	$5M	—
Q2 22	$27M	—
Q2 23	$19M	$12M
Q2 24	$6M	$12M
Q2 25	$18M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 19	$1M	$0	$1M
Q4 19	$1M	$0	$1M
Q2 20	$48.8K	$0	$48.8K
Q4 20	$48.8K	$0	$48.8K
Q2 21	$22M	$0	$22M
Q4 21	$87M	$0	$87M
Q2 22	$82M	$0	$82M
Q4 22	$49M	$0	$49M
Q2 23	$42M	$0	$42M
Q4 23	$44M	$0	$44M
Q2 24	$21M	$0	$21M
Q4 24	$19M	$0	$19M
Q2 25	$25M	$0	$25M
Q4 25	$37M	$0	$37M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 19	2M	—	—
Q4 19	2M	0.0%	—
Q2 21	2M	+0.0%	—
Q2 22	5M	+104.0%	—
Q2 23	5M	+3.7%	+111.7%
Q2 24	6M	+29.4%	+173.8%
Q2 25	5M	-22.0%	+113.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 19	—	—
Q4 19	—	—
Q2 21	—	—
Q2 22	$71.5K	74
Q2 23	$136	140
Q2 24	$856	139
Q2 25	$2.3K	74

Revenue / Employee