French quantum firm Pasqal posts 14% revenue rise after US listing

French quantum computing company Pasqal announced a 14 per cent increase in revenue for the first half of 2026 and disclosed cash reserves of more than €300 million to fund its commercialisation plans.

The firm went public late last month following a merger with special‑purpose acquisition company Bleichroeder, a deal that valued the combined entity at around $2 billion and left approximately €313 million in cash on its balance sheet. Its current market valuation is just over $1.5 billion.

Pasqal reported revenue of €3.9 million from quantum processing unit‑related services, up 34 per cent year‑on‑year, while booked and awarded business – including grants, tax credits and multi‑year contracts – totalled €70.4 million. The company also recorded an operating loss of nearly €60 million for the period, largely due to €37 million in share‑based payments and other charges.

Founded in 2019 on Nobel‑Prize‑winning research by co‑founder Prof Alain Aspect, Pasqal builds neutral‑atom quantum computers available on‑premises and via the cloud. Its customers include Saudi Aramco, Crédit Agricole CIB and LG Electronics, and it partners with Nvidia and IBM. The firm has offices in Saudi Arabia, Canada, the United States and South Korea.

Pasqal received an European Innovation Council Fund Award at the 2026 TechEU Equity Summit in Luxembourg and plans to list on the Euronext European stock exchange by next year.

Source: Silicon Republic. Photo: Markus Winkler / Pexels.