Insider Brief
Xanadu reported higher year-over-year second-quarter revenue while increasing investment in photonic quantum computing research, manufacturing and U.S. expansion, ending the quarter with $312.8 million in cash.
The company expanded photonic chip manufacturing, reported an edge-coupling loss of 0.085 decibels per facet, advanced quantum software and algorithms, and broadened collaborations with organizations including Oak Ridge National Laboratory, Rolls-Royce and Lockheed Martin.
Xanadu reported second-quarter revenue of $1.5 million, a net loss of $42.1 million and raised $67.2 million through its synthetic at-the-market equity facility to support continued development of its quantum computing technology roadmap.
Xanadu Quantum Technologies reported higher year-over-year second-quarter revenue while stepping up investment in research, manufacturing and U.S. expansion, as the photonic quantum computing company continued advancing the technologies it says are needed to build large-scale quantum computers.
