Slides
Page 1
IQM Earnings Presentation Q2 & H1 Financial Results August 4 , 2026 /iqm.tech/ OM PUBLIC
Page 2
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Disclaimer This presentation contains “forward-looking statements” within the meaning of the U.S. federal securities laws and “forward-looking information” within the meaning of applicable non-U.S. securities laws. These forward-looking statements reflect IQM’s current expectations and views of future developments and include statements preceded by “believe”, “expect”, “expectations”, “ensure”, “commit”, “anticipate”, “foresee”, “see”, “target”, “estimate”, “designed”, “aim”, “plan”, “intend”, “influence”, “assumption”, “focus”, “continue”, “project”, “should”, “is to”, “will”, “could”, “forecast”, “strive”, “envisage”, “may”, “would” or similar expressions. These statements include, among others: IQM's full year 2026 financial guidance; projections of market opportunity and market share; projections regarding IQM's ability to commercialize new products and technologies, including its multi-year technology roadmap and related milestones, and the related costs and timelines; expectations regarding IQM's business model, customer base, strategic partnerships, manufacturing capacity and scaling plans and capital deployment; the sufficiency of IQM's cash position to fund its roadmap and reach key operational milestones; the conversion of IQM's order backlog into recognized revenue; and the potential for IQM to increase in value. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, many of which are beyond the control of IQM. These statements are based on management's best assumptions and beliefs in the light of the information currently available to it. Because they involve risks and uncertainties, actual results may differ materially from the results that we currently expect. Factors, including risks and uncertainties that could cause such differences can be both external, such as general, economic and industry conditions, as well as internal operating factors, including but not limited to IQM’s financial and business performance, IQM’s mission, goals and strategies, IQM’s future business development, financial condition and results of operations, expected changes in IQM’s revenues, costs or expenditures, IQM’s expectations regarding demand for and market acceptance of IQM’s products, competition in IQM’s industry, IQM’s future capital requirements and sources and uses of cash, relevant government policies and regulations relating to IQM’s industry and other risks and uncertainties discussed in the “Risk Factors” section of IQM’s prospectus pursuant to Rule 424(b)(3) filed with the United States Securities and Exchange Commission (the “SEC”) on June 5, 2026, IQM’s prospectus approved by the Finnish Financial Supervisory Authority (the “FIN-FSA”) on July 1, 2026 and in other filings that IQM makes from time to time with the SEC or the FIN-FSA. Other unknown or unpredictable factors or underlying assumptions subsequently proven to be incorrect could cause actual results to differ materially from those in the forward-looking statements. We do not undertake any obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required. In addition to the measures presented in our consolidated financial statements, we use Order Backlog and Order Intake indicators of future revenues from existing signed orders. This approach provides management with a transparent bridge from confirmed orders to revenue, linking sales performance with revenue realization, while remaining consistent with the external definition of backlog as confirmed, not yet recognized orders. We believe these metrics provides useful information for the market to understand and evaluate our results of operations in the same manner as our management team. Order Backlog represents the value of binding customer orders that have been confirmed but not yet recognized as revenue at a point in time. We calculate Order Backlog as the point in time balance of Order Intake less recognized revenue. Order Intake represents the total monetary value of binding customer orders signed during the period, excluding pipeline or expected orders, and reflects new business secured and future revenue generation. These metrics are presented for supplemental informational purposes only, should not be considered substitutes for financial information presented in accordance with IFRS Accounting Standards, and may differ from similarly titled metrics or measures presented by other companies.
Page 3
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Our mission: IQM was recognized in 1st place on the Deloitte Technology Fast 50 Finland list4 50+ nationalities, including 120+ quantum experts with PhDs 400+ Employees 47% year over year growth, with over EUR 69M in backlog1 EUR 8.9M H1 2026 revenue1 Consistently delivering systems to academic, sovereign, and enterprise clients Global presence including France, Germany, Italy, Japan, Poland, Saudi Arabia, Spain, Singapore, South Korea, Taiwan, UK and the United States 12+ Employee sites Among best capitalized quantum computing companies in Europe EUR 309M Cash position3 Industrial leader Financial momentum Global talent One of the only European players delivering systems at scale 50+ Systems built 17 Quantum computers delivered2 Sources: Company information; Deloitte; Publicly available information. Note: 1 As of June 30, 2026; 2 Difference between systems built and delivered due to systems remaining on-premise for own R&D, for quantum cloud offering (IQM Resonance) and systems still subject to delivery; 3 Following the public listing on July 2, 2026. Cash as of June 30, 2026 was EUR 113M; 4 Recognizes the 50 fastest growing technology companies in Finland based on revenue growth over the past four years “We build world leading quantum computers for the well-being of humankind, now and for the future…”
Page 4
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Three core themes underpinning our success so far this year Peter Franco Commercial traction Product development Financial strength Signpost on the three KPIs we want to track and label the deck in them Graphics page (Peter) Systems built and delivered, bookings and growing revenues Consistent delivery against a roadmap scaling toward millions of qubits A well-capitalized base supporting a multi-year runway Commercial traction Product development Financial strength
Page 5
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Adoption is accelerating across three key archetypes, powered by our superconducting speed advantage and recent acquisition NON-EXHAUSTIVE Sources: Company information Quantum Simulation Optimization Quantum Machine Learning (QML) Driven by heavy infrastructure investments from advanced materials science and pharmaceuticals Focused on real-world enterprise optimization across finance, manufacturing, logistics, and transportation An explosive cross- industry layer accelerated directly by the growth of artificial intelligence Selected collaborations Battery Simulation Power Plant Maintenance Scheduling Product Portfolio Optimisation Waste Disposal Optimisation Rolling stock Optimisation Quantum Reservoir Computing Black Box Optimisation Fraud Detection Quantum generative ML Product development
Page 6
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 A unique and diversified product portfolio designed to deliver for every customer type Source: Company information Note: Images are conceptual digital perceptions and actual product may differ. 1 Based on planned roadmap All products also available as cloud service via IQM Resonance & AWS Product line Spark Radiance Halocene …still to come 1 Target Customers Universities, labs HPC, research institutes, national programs HPC, national programs, early industry adopters HPC, data centers, enterprise customers Items Sold 9 17 Already for sale since May 2026, to be delivered in 2027 R&D, exp. 2030+ Description Focused on education, training, and early- stage research; Packaged with learning materials through academy and sold for <€1m Scalable Noisy Intermediate-Scale Quantum, or “NISQ” , for direct HPC integration, delivered as an open platform with comprehensive learning materials and fully upgradable On-premises platform for quantum error correction, designed to bridge the transition from today’s NISQ systems toward fault-tolerant quantum computing. Fault-tolerant quantum computers operating at supercomputer scale, delivering real- world value Physical qubits 5 20 - 150 150 – 5,000 1 40,000 – 1M+ Logical qubits – Testbed for 1-5 5-180 1 240-7200 Product development
Page 7
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Our open and modular cloud platform provides state-of-the-art tools for enterprises and developers to accelerate quantum adoption → Multi platform cloud accessible → Multi -language → Multi -vertical use -case libraries Accessibility 50× more compact. 10× better performance Tight integration Plug-and-play with partner technologies; HPC integration ready Unique to IQM ResonanceTM platform Open architecture Full control of QEC stack through pulse-level access and QEC solution HK to get Hermanni the person’s name on academy, to get any update IQM Resonance award to be added (June) – to show progress, engagement, growth etc Small KPIs on academy? Product development
Page 8
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Broad customer base stimulates ecosystem and creates structural lock in IQM has sold, delivered and installed the most quantum systems globally 2 Czech Republic Taiwan Finland Germany France Italy United States South Korea Poland Spain IQMIBM Quantum Brilliance Rigetti ORCA Computing Fujitsu XeedQ Alpine Quantum SpinQ D-Wave Other Japan Today Coming soon 26 Total systems sold1 4 out of Top 10 supercomputing centers globally as customers 17 Systems delivered1 Leading industry-standard, tiered systems Partnership to build resilient supply chain and local content Global delivery with local teams Sources: Company information; Quantum insider Note: 1 Represents data as of June 30, 2026; 2 Quantum Insider (August 23, 2025), Top-10 vendors by share of total systems sold, 2020 to June 2025 Note: doesn’t include CSC nor Truba IQM is the pioneer for quantum-powered supercomputing, already powering 4 out of the Top 10 supercomputers in the Top 500 list Commercial traction
Page 9
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Enabled by Production Quantum: Industrial by Design, Built for Data- Center Speed, Scale and Stability Continuous error-rate monitoring demonstrates several months of uninterrupted autonomous operation Commercial traction Single-Qubit Gate error Readout CZ Sources: Company information Note: Garnet system, Median and interquartile error rates 2025/07 2025/09 2025/11 2026/01 2026/03 2026/05 2026/07 Time Error rates 10-1 10-2 10-3
Page 10
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Faster innovation cycles are underpinned by full-stack thinking and proprietary infrastructure QUALITY CONTROL CODEVELOPMENT✓ FAST / AGILE EFFICIENT FEEDBACK✓ ✓ ✓ T IQM Assembly Line IQM Data Center IQM Fab QPU1 designs optimised Customer feedback Real-world customer usage QPUs1 manufactured Systems put on the cloud in Data Center Systems built and integrated with assembly line 900m2 with expansion planned Up to 30 systems per year IQM Resonance Source: Company information Note: ¹ Quantum Processing Unit Commercial traction
Page 11
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Quantum AI Duality: Integrating quantum into AI and HPC while using AI to enhance quantum performance and reliability Sources: Company information. Product development LUMI AI Factory, led by CSC-IT Center for Science IQM Halocene H4 ✓Chosen for data-center-grade speed, scalability and stability ✓Integrated with one of the world’s leading supercomputers ✓Unique, advanced experimental platform applies QPUs to specialized routines where brute-force classical scaling becomes inefficient Integration of AI into HPC Contract with a world Class AI Factory NVIDIA NVIDIA Ising & NVQLink ✓Introduced AI-driven calibration using NVIDIA Ising models to automate quantum system tuning ✓Parallel agentic inspection helping automate system tuning and improve system uptime ✓Infrastructure-wise, combining IQM Halocene with NVIDIA NVQLink for tighter QPU–GPU integration Integration of AI into HPC & Enhancing quantum performance with AI Partnering with the leader in AI and accelerated computing
Page 12
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Proprietary, low-complexity and highly efficient qLDPC code unlocks the path to quantum advantage 0 5 10 15 20 25 30 Hardware requirements Quantum error correction efficiency Surface code BB code Gross code Radial code Directional code Narrow code Tile code Tanner code 1 1.0 1.5 2.0 2.5 3.0 3.5 4.0 w=8 w=6 w=10 w=4 w=6 w=3,4 w=6,12 w=6 w=6 IQM previous results Competitor using qLDPC code Low cost, high efficiency w=10 Barbell codes proposed by IQM High efficiency Less physical qubits per logical qubit ➢ Up to 8x less vs surface code Low complexity Higher manufacturability ➢ 3-4 couplers per physical qubit Sources: Mathews, Melvin, et al. "Placing and routing quantum LDPC codes in multilayer superconducting hardware." npj Quantum Information (2026) Choe, Shin Ho, et al. "Barbell Codes: qLDPC Codes for Superconducting Quantum Hardware." arXiv preprint arXiv:2606.06062 (2026) Product development
Page 13
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 High-quality QPU and fast qubit couplers to enable QEC 2Q fidelity 99.93 % [1] Over 99.9% fidelity achieved through proprietary tunable coupler solutions and pulse control optimisation Coupler qubitQubit 1 Qubit 2 Sources: Company information; Orell, Tuure, et al. "Efficient and accurate two -qubit-gate operation in a high-connectivity transmon lattice utilizing a tunable coupling to a shared mode." arXiv preprint arXiv:2603.10699 (2026) Product development
Page 14
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 HK send to Peter – to be formatted in the rest of the presentation visual look + IQM logo Product development IQM Pulla expands our software toolkit Greater transparency and control for developers Pulla Unified pulse-level compilation engine QAOA Benchmarks Dynamical decoupling Classical feedforward Qubit selector Applications and algorithms tooling
Page 15
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Performance Qubit count Crystal Topology Star Topology Logical qubits Processor Layout Software Platform 2022 2023 2024 2025 2026 2027 2028 2030+ Foundation Quantum Utility Quantum Advantage Simulation optimisation Quantum Machine Learning System benchmarking, noise characterisation Short to medium-sized molecular simulations and simulations of Ising and fermion models Proof of concept: power plant maintenance scheduling, Product portfolio optimisation, train scheduling Proof of concept: predicting chemical reaction behaviour, fraud detection Medium size molecular simulations and new quantum materials for battery optimisation and carbon capture Medium size problems: portfolio optimisation, traveling salesperson and graph coloring problems Anomaly detection, feature selection, quantum data encoding, drug discovery, image generation Drug discovery, catalyst and fertilizers design, carbon capture; Development of novel quantum materials, battery materials and energy storage Global supply chain and transport, global energy systems, risk management, infrastructure planning, telecom and data center management Bio data generation for training, drug-discovery, personalized medicine, complex market dynamics modelling, optimizing trading strategies, smart cities 4-36 60-180 240-720 600-1800 2400-7200 Loose HPC integration Pulse-level access Stand-alone algorithm execution HPC integration guidebook Open architecture and programming framework for developers and partners Realtime encoding of QLDPC codeTight HPC integration NISQ QEC Demonstrators Fault Tolerance 99.8% 99.8% 99.9% 99.92% 99.94% 10 -5 10 -6 10 -7 10 -8 10 -9 Logical error rate* Testbeds for 1-2 logical qubits Two-qubit gate fidelity 5 20 54 150 300 150 x 2 6 24 46 150 1k 5k 40k 100k 1M Recap: Consistently delivering on technical milestones Sources: Company information, 2025 Quantum Technology Monitor, McKinsey & Company Note: 1 Processor layouts are for illustrative purposes only and do not represent the actual design; 2 Two-qubit-gate error refers to demonstration devices consisting of two qubits and a coupler only. The fidelities get transferre d system-level with a delay; 3 Logical error rate under revision for potential improvement; 4 Timeline corresponds to first demonstration systems. First on -premise delivery is 12-18 month available from first demonstration.
Page 16
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 • Source: Company information DR. JAN GOETZ Chief Executive Officer & Co-Founder SYLWIA BARTHEL DE WEYDENTHAL Chief Commercial Officer BLAIR ROBERTSON VP, Strategy & Corporate Development ⚫ Capital Markets, Strategy, Corporate Finance, IR & Corp Comms ⚫ Expert deal maker & financier ⚫ Economics MSc DR. CRAIG CIESLA Chief Technology Officer JAN KUERSCHNER Chief Financial Officer ⚫ Financial Operations & Legal ⚫ Experienced finance executive ⚫ Business Administration MSc DR. TOMI RIIPINEN VP, Quantum Systems ⚫ Tech: System Integration & Software ⚫ Seasoned engineering director ⚫ Electrical Engineering PhD ⚫ Technology ⚫ Deep-tech executive and inventor ⚫ Physics PhD & B.Sc. in Applied Physics ⚫ Public Affairs & Internationalisation ⚫ Long standing leader & advisor ⚫ Quantum PhD DR. JUHA VARTIAINEN Chief Global Affairs Officer & Co-Founder DR. SØREN HEIN Chief Operations Officer DR. JUHA HASSEL VP, Quantum Technologies ⚫ Tech: QPU, Enabling Tech, Fabrication ⚫ Eminent scientist & engineering leader ⚫ Quantum PhD ⚫ Execution & Operations ⚫ Board professional, investor, founder ⚫ Semiconductor PhD ⚫ Sales, Marketing & Product ⚫ Experienced commercial executive ⚫ Economics MSc ⚫ Tech: Applications & Algorithms ⚫ Distinguished technical research fellow ⚫ Quantum PhD DR. INES DE VEGA Chief Scientist ⚫ Founder of the year (2023) ⚫ Quantum PhD MARK FALCON General Counsel ⚫ Previous experience at Borenius ⚫ Juris Doctor of Law Governance update: Management Recent appointment Recent promotion ⚫ Tech: Applications & Algorithms ⚫ Distinguished technical research fellow ⚫ Quantum PhD
Page 17
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Governance update: Board of Directors Alex Doll Hannu Martola Jan Goetz Sierk Poetting Barbara Venneman Juho Sarvikas Jeff Tuder Appointed 12/06/2026 Appointed 01/07/2026 Appointed 01/07/2026 Director Director Director Chairman Director Director Director P U B L I C Member of the Audit Committee Member of the Remuneration Committee Chair of the Nomination Committee Member of the Audit Committee Chair of the Nomination Committee Chair of the Remuneration Committee Member of the Nomination Committee Member of the Audit Committee Member of the Nomination Committee Member of the Remuneration Committee Chair of the Audit Committee Current and earlier associations
Page 18
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Financial Results Q2 & H1 2026
Page 19
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Q2 and H1 2026 Revenue Commentary Q2 2025 Q2 2026 H1 2026 Revenue: EUR 8.9M 47% year over year growth from H1 2025 Higher quantum computer sales and progress in projects recognized over time Global commercial leader with 26 systems sold to date Customers include 4 of the top 10 global supercomputing centers Industrial leader with 17 systems delivered Largest publicly disclosed on-premises delivery count1 Strong commercial momentum and continued revenue growth Sources: Company information Note: Periods ended June 30, 2026 and June 30, 2025. 1 Since founding of IQM, represent publicly announced on -premises deliveries from each of IBM, D -Wave, Pasqal, Rigetti, IonQ, OQC, Quandela, Anyon Systems, QuEra, Atom Computing and Quantinuum. H1 2025 H1 2026 EURm 5.2 6.7 6.0 8.9 Financial strength
Page 20
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Growing revenue backlog driven by recent new customer wins Sources: Company information. 1. Order Backlog represents the value of binding customer orders that have been confirmed but not yet recognized as revenue a t a point in time. We calculate Order Backlog as the point in time balance of Order Intake less recognized revenue. Order Intake represents the total monetary value of binding customer orders signed during the period, exc luding pipeline or expected orders, and reflects new business secured and future revenue generation. Transparent bridge from confirmed orders to revenue1 Backlog growth of 52% YTD driven by a significant new sale after quarter end Continued & committed commercial demand providing strong visibility over future revenue EURm 30 69 (31) 67 11 (9) 69 102 Revenue Backlog Commentary 33 Opening Backlog (January 1, 2025) Total Order Intake (FY 2025) Total Recog. Revenue (FY 2025) Closing Backlog (December 31, 2025) Total Order Intake (H1 2026) Total Recog. Revenue (H1 2026) Closing Backlog (June 30, 2026) Added Backlog (After Quarter End) Current Backlog (August 3, 2026) EURm FY 2025 H1 2026 After Q2 2026 Financial strength
Page 21
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 FINLAND · HPC,RESEARCH July 2026 GLOBAL · TECH PARTNERSHIP Apr 2026 POLAND & JAPAN · ENTERPRISES Apr 2026 GERMANY · ACADEMIA Feb 2026 Quantum tech is an essential strategic field for future growth, especially for new era of Japanese manufacturing. — Toshiya Kohno, President & CEO, TOYO NVIDIA Ising Integration AI-Driven Agentic Calibration ✓ Enterprise-ready AI-driven calibration built on NVIDIA Ising models ✓ Removes need for on-site quantum expertise, enabling autonomous quantum operation The next generation of supercomputers will be quantum-GPU systems, and AI is what makes them operable. — Sam Stanwyck, Director of Quantum Product, NVIDIA ” Galaxy Systemy Informatyczne IQM Radiance 54-qubit ✓ Galaxy is the 1st private enterprise globally to purchase an IQM system ✓ The most advanced QC in Poland ✓ TOYO is the 1st enterprise QC purchase in Japan A turning point not only for Galaxy, but for the entire Polish digital economy. — Jacek Michalski, CEO, Galaxy ” Leibniz Supercomputing Centre IQM Radiance 54-qubit ✓ Euro-Q-Exa is 1st EuroHPC joint undertaking QC deployed in Germany ✓ Installed, hosted, and operated at LRZ, supporting development of expertise, operational know-how, and sustainable research capacity within Europe Euro-Q-Exa is much more than just a new computer. It represents technological sovereignty and our ambition to develop our own digital infrastructure. — Markus Blume, Bavarian Minister of State of Science and the Arts ” Selected recent customer wins and partnerships Sources: Company information & TOYO Corporation IQM Radiance 20-qubit ” Announced post quarter-end, on 8th July 2026 CSC - LUMI AI Factory IQM Halocene H4 ✓ 1st and most advanced on-premises superconducting QC of its kind, combining QEC with NISQ qubits ✓ System will be used in joint R&D efforts towards fault-tolerant QC & advancements in hybrid computing ✓ Unique integration of quantum tech with AI and high-perf. computing As part of the LUMI AI Factory, LUMI-IQ will bring together world-leading AI, data, high-performance computing and quantum acceleration in one powerful hybrid environment. — Kimmo Koski, Managing Director, CSC ” Financial strength
Page 22
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Significant scaling investments Revenue 31.3 16.4 91% Cost of Revenue (16.3) (11.4) 44% Gross Profit 15.0 5.1 195% Gross Margin % 48% 31% Selling expenses (5.9) (4.5) 32% G&A expenses (18.5) (12.4) 49% R&D expenses (50.7) (42.4) 19% Other income & expenses 2.0 4.1 (51%) Operating Loss (58.1) (50.0) 16% Full time employees 333 275 21% Commentary • Revenue growth was driven by accelerating system deliveries across multiple geographies, as well as by expanding HPC and enterprises customer base • Cost of Revenue, including personnel and materials required to support higher sales volumes, increased, but slower than revenue resulting in GM improvement for the period • Selling expenses increase reflects expansion of the commercial teams • G&A expenses increase mainly from one-off transaction costs and headcount increase • R&D increase driven mainly by personnel costs • Operating loss reflects deliberate investments in R&D, leading product roadmap and other capabilities required to scale the business further EURm Q2 2026 Q2 2025 Sources: Company information Note: Quarter and Half Ended June 30, 2026, and 2025 Same but for Q2 and H1 2026 What is framework to think about Gross Margin What drives it, what is likely mature stage of GM? Is HPC good benchmark for the GM LT? YoYH1 2026 H1 2025YoY Revenue 6.7 5.2 28 % 8.9 6.0 47 % Cost of Revenue (3.6) (3.2) 15 % (5.3) (3.6) 45 % Gross Profit 3.1 2.1 47 % 3.6 2.4 50 % Gross Margin % 46 % 40 % 41 % 40 % Selling expenses (3.8) (1.4) 175 % (7.0) (2.4) 198 % G&A expenses (15.5) (4.4) 253 % (26.2) (6.9) 279 % R&D expenses (16.3) (11.8) 38 % (34.0) (25.7) 33 % Other income & expenses 1.6 0.5 197 % 3.2 0.9 256 % Operating Loss (30.9) (15.0) 106 % (60.5) (31.6) 91 % Loss before tax (36.5) (14.9) 144 % (74.9) (34.5) 117 % Loss for the period (36.6) (15.0) 144 % (74.9) (34.6) 117 % Financial strength
Page 23
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Well-capitalized to continue executing ambitious product roadmap & scaling EUR 8.9M Revenue with 47% year- over-year growth as of H1 2026 EUR 309M1 Cash position following public listing July 2, 2026 EUR 34M R&D expenses to deliver on product roadmap as of H1 2026 Financials summary Strong revenue growth trajectory with diversifying customer base spanning HPC centers, national labs and enterprises, as well as secured backlog. Commercial Momentum Strong cash position following the public listing. Provides visible runway to execute roadmap and reach key milestones Capital Strength Meaningful investment in next- generation quantum error correction (Halocene) and manufacturing scale-up is intentional and time-limited, laying the foundation for future scale benefits Continued R&D Investment Full year 2026 guidance confirmed with the context of revenue dynamics being structurally second half and Q4 weighted Guidance Sources: Company information Note: 1 Reported cash at end of quarter, June 30, 2026 was EUR 113m. EUR 42-47M Full Year 2026 Revenue EUR 65-75M Full Year 2026 Order Intake Financial strength
Page 24
/iqm.tech/ /iqm.tech/ P U B L I C Earnings Presentation Q2 & H1 2026 Take the ‘fast lane’ to Quantum advantage IQM Quantum Computers