Infleqtion posts $30.3M net loss after $528.2M SPAC merger; material weaknesses disclosed

Filed May 15, 2026 · Period ending March 31, 2026 · ~2 min read

Key Changes

• high

  Net loss widened to $30.3 million from $6.0 million a year earlier, driven by $11.5 million of non-recurring business combination expenses, higher stock-based compensation, and increased R&D and SG&A.

  MD&A: Results of Operations verify on EDGAR →
• high

  Completed SPAC merger with Churchill Capital Corp X in February 2026, receiving $528.2 million in net proceeds ($401.6 million from trust and operating cash, $126.5 million from PIPE).

  MD&A: Business Combination verify on EDGAR →
• high

  Disclosure controls and internal control over financial reporting were not effective as of March 31, 2026 due to material weaknesses at Legacy Infleqtion; remediation may extend into 2027.

  Controls and Procedures verify on EDGAR →