0001193125-26-227206
SEC filingQ1 2026 reflected post-Business Combination transition with $9.5M revenue and 21.0% gross margin offset by substantial operating losses from one-time public company costs, enabling strategic investments in innovation while maintaining 12-month liquidity runway.
Churchill Capital Corp X's Q1 2026 results capture the transformative impact of the recent Business Combination, which introduced significant non-recurring expenses while establishing a robust capital foundation for quantum technology advancement.
Revenue of $9.5 million generated a solid gross profit of $2.0 million, representing a 21.0% gross margin. This performance underscores the Company's ability to execute on government contracts amid the operational ramp-up following the public company transition.
Net income was -$30.3 million, a sharp deterioration from -$18 thousand in Q1 2025, yielding diluted EPS of -$0.26. The year-over-year swing stemmed from the Business Combination-related expense surge and public company ramp-up costs, including stock-based compensation.
These dynamics position CCCX to leverage its public status for quantum ambitions despite near-term losses from transformation costs.