ARQQ Technology

Arqit Quantum Inc.

$15.00+5.26%

Price as of close on Nov 3, 2026 · Financials updated Nov 1, 2026

Basics

Sector: Technology
Industry: Software - Infrastructure
Country: United Kingdom
Market cap: 261.0M USD
Enterprise value: 221.4M USD
Full-time employees: 87

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 2.79 vs a peer median of 0.87)bigger price swings (beta 2.79 vs peers 0.87)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #1,358 of 1,612 technology companies (bottom 16%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 214% from September 2022 to September 2025.
Arqit Quantum had 214% more shares at September 2025 than at September 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Arqit Quantum had 214% more shares at September 2025 than at September 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock-based pay is a large cost. Stock pay was 1071% of revenue in FY Sep 2025.
Arqit Quantum paid employees $6M in stock in FY Sep 2025, 1071% of its $1M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($530K of revenue over 12 months).
Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -7272%).
Financials may be out of date. Latest financial period ended 13 months ago.
The latest financial period we have ended 13 months ago, so the scores may not reflect recent results.

StockQuotient Score

30/ 100

Oct 5 30 → Nov 4 30

Valuation

Is the price right?

10/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-10.2%

SEC filings (IFRS mapped) · 12 months to Sep 2025Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0225 · MAD: 0.0225

EBITDA yield-22.6%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.17Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield-8.6%

SEC filings (IFRS mapped) · 12 months to Sep 2025 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield7.9%

SEC filings (IFRS mapped) · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

70/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 119.9%

Why

Stronger than most peers on:

▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.30Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth-58.1%

SEC filings (IFRS mapped) · 3 years to Sep 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -2.80Sector median: 0.0483 · MAD: 0.0793

Revenue growth80.9%

SEC filings (IFRS mapped) · 12 months to Sep 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.89Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

1/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-7271.5%

SEC filings (IFRS mapped) · 12 months to Sep 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -7.12Sector median: 0.0631 · MAD: 0.0710

Return on assets-82.5%

SEC filings (IFRS mapped) · 12 months to Sep 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.92Sector median: 0.0293 · MAD: 0.0362

Return on invested capital-1311.2%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsOutlier capped at sector 5th/95th percentile33% base weight · Z-score -4.27Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin49.7%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity-129.8%

SEC filings (IFRS mapped) · 12 months to Sep 2025Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ Current ratio
▲ Debt / equity
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta2.79

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.51Sector median: 0.8710 · MAD: 0.3700

Current ratio2.69×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 1.25Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.08×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 0.76Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Arqit Quantum

Is Arqit Quantum getting weaker?: Its latest SEC filing (Dec 9, 2025) showed no major changes. Its overall score is unchanged at 30/100 since Oct 28, 2026.
How is Arqit Quantum valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 10/100 against 1,711 technology peers. Earnings yield -10.2% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -10.2% vs peers 2.2% (weaker than 100% of peers).
Is Arqit Quantum growing?: Yes, faster than most of its peers. Growth scores 70/100 against 1,711 technology peers. Revenue growth 80.9% vs a peer median of 8.5% (stronger than 95% of peers).Revenue growth 80.9% vs peers 8.5% (stronger than 95% of peers). 3-year revenue growth -58.1% vs a peer median of 4.8% (weaker than 100% of peers).3-year revenue growth -58.1% vs peers 4.8% (weaker than 100% of peers).
How profitable is Arqit Quantum?: Less profitable than most of its peers. Profitability scores 1/100 against 1,711 technology peers. Operating margin -7271.5% vs a peer median of 6.3% (weaker than 100% of peers).Operating margin -7271.5% vs peers 6.3% (weaker than 100% of peers).
How risky is Arqit Quantum?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 2.69× vs a peer median of 1.83× (stronger than 71% of peers).Current ratio 2.69× vs peers 1.83× (stronger than 71% of peers). Beta 2.79 vs a peer median of 0.87 (weaker than 100% of peers).Beta 2.79 vs peers 0.87 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Sep 30, 2025 · filed Dec 9, 2025 · compared with the quarter ended Mar 31, 2025

No major changes

Worth watching: Arqit Quantum is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	241,000 USD	530,000 USD	+119.9%
Net income (12 months)	−24.1M USD	−35.3M USD	+46.8%
Operating margin	-10724.9%	-7271.5%	+3453.4 pts
Free cash flow (12 months)	−24.0M USD	−29.6M USD	+23.4%
Cash	24.8M USD	37.0M USD	+49.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Sep 2021	FY Sep 2022	FY Sep 2023	FY Sep 2024	FY Sep 2025	Change
Operating margin	-359502.1%	-884.2%	-9162.8%	-9190.1%	-7271.5%	▲ >999 pts
Net margin	-565300.9%	902.3%	-11644.8%	-19391.8%	-6668.5%	▲ >999 pts
Return on assets (ROA)	-238.6%	52.5%	-74.7%	-212.7%	-82.5%	▲ 130 pts
Return on equity (ROE)	—	82.8%	-111.8%	-480.7%	-129.8%	▲ 351 pts
Free cash flow margin	-50537.5%	-403.4%	-5240.2%	-11649.1%	-5582.3%	▲ >999 pts
Current ratio	5.29×	2.38×	3.22×	1.94×	2.69×	▲ 38%
Debt to equity	—	—	—	—	—	—
Interest coverage	-160.08×	-288.53×	-206.49×	-120.75×	-802.90×	▼ 565%

ARQQ price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 2.79 vs a peer median of 0.87)bigger price swings (beta 2.79 vs peers 0.87)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #1,358 of 1,612 technology companies (bottom 16%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 214% from September 2022 to September 2025.

Arqit Quantum had 214% more shares at September 2025 than at September 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Arqit Quantum had 214% more shares at September 2025 than at September 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock-based pay is a large cost. Stock pay was 1071% of revenue in FY Sep 2025.

Arqit Quantum paid employees $6M in stock in FY Sep 2025, 1071% of its $1M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss, from a small base ($530K of revenue over 12 months).

Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -7272%).

Financials may be out of date. Latest financial period ended 13 months ago.

The latest financial period we have ended 13 months ago, so the scores may not reflect recent results.

Questions investors ask about Arqit Quantum

Is Arqit Quantum getting weaker?

Its latest SEC filing (Dec 9, 2025) showed no major changes. Its overall score is unchanged at 30/100 since Oct 28, 2026.

How is Arqit Quantum valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 10/100 against 1,711 technology peers. Earnings yield -10.2% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -10.2% vs peers 2.2% (weaker than 100% of peers).

Is Arqit Quantum growing?

Yes, faster than most of its peers. Growth scores 70/100 against 1,711 technology peers. Revenue growth 80.9% vs a peer median of 8.5% (stronger than 95% of peers).Revenue growth 80.9% vs peers 8.5% (stronger than 95% of peers). 3-year revenue growth -58.1% vs a peer median of 4.8% (weaker than 100% of peers).3-year revenue growth -58.1% vs peers 4.8% (weaker than 100% of peers).

How profitable is Arqit Quantum?

Less profitable than most of its peers. Profitability scores 1/100 against 1,711 technology peers. Operating margin -7271.5% vs a peer median of 6.3% (weaker than 100% of peers).Operating margin -7271.5% vs peers 6.3% (weaker than 100% of peers).

How risky is Arqit Quantum?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 2.69× vs a peer median of 1.83× (stronger than 71% of peers).Current ratio 2.69× vs peers 1.83× (stronger than 71% of peers). Beta 2.79 vs a peer median of 0.87 (weaker than 100% of peers).Beta 2.79 vs peers 0.87 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

241,000 USD

530,000 USD

+119.9%

Net income (12 months)

−24.1M USD

−35.3M USD

+46.8%

Operating margin

-10724.9%

-7271.5%

+3453.4 pts

Free cash flow (12 months)

−24.0M USD

−29.6M USD

+23.4%

Cash

24.8M USD

37.0M USD

+49.2%

Key ratios

FY Sep 2021

FY Sep 2022

FY Sep 2023

FY Sep 2024

FY Sep 2025

Change

Operating margin

-359502.1%

-884.2%

-9162.8%

-9190.1%

-7271.5%

▲ >999 pts

Net margin

-565300.9%

902.3%

-11644.8%

-19391.8%

-6668.5%

▲ >999 pts

Return on assets (ROA)

-238.6%

52.5%

-74.7%

-212.7%

-82.5%

▲ 130 pts

Return on equity (ROE)

—

82.8%

-111.8%

-480.7%

-129.8%

▲ 351 pts

Free cash flow margin

-50537.5%

-403.4%

-5240.2%

-11649.1%

-5582.3%

▲ >999 pts

Current ratio

5.29×

2.38×

3.22×

1.94×

2.69×

▲ 38%

Debt to equity

—

Interest coverage

-160.08×

-288.53×

-206.49×

-120.75×

-802.90×

▼ 565%