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High materiality7/10

Pasqal reports 14% H1 revenue growth; strong QPU services momentum

Sep 24, 2026, 7:21 AM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Strengthening QPU services growth, a solid backlog, and significant partnerships reduce execution risk and may drive multiple expansion if enterprise traction accelerates.

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What happened, with direct paths to the underlying reporting

Pasqal posted first-half 2026 revenue of €4.9 million, up 14% YoY, with QPU-related services growing 34% to €3.9 million. Backlog reached €70.4 million as of June 30, and cash rose to €110.8 million, with pro forma liquidity near €313 million after the business combination. The company highlights enterprise traction, scale milestones in qubits and a roadmap to fault-tolerant quantum computing, supporting a constructive view on near- to mid-term growth optionality.

H1 revenue €4.9m, up 14% YoY; QPU services €3.9m, +34%.
Booked and awarded business €70.4m as of 6/30/2026.
Cash €110.8m as of 6/30/2026; pro forma €312.9m post-combination.
NVIDIA, Google, Saudi Aramco and Crédit Agricole CIB cited as key partners.
Milestones include >1,000 physical qubits, 1,024-atom register, and logical qubits progress.

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