Toronto-based photonic quantum computing company building quantum computers and networking hardware using light-based qubits.
Is still early in commercial sales, with research contracts, government programmes and cloud access to its machines, while most spending goes to building a fault-tolerant quantum computer, so it relies largely on raising capital. PennyLane, its open-source quantum-programming software, gives it a developer community across rival hardware.
In one line: A photonic quantum computing hardware developer like PsiQuantum.
Intense well-funded competition in quantum computing
Moat: narrow (IP / patents, process know-how). Proprietary photonic chip and quantum error-correction IP differentiate it in an early, technically difficult field.
SizeXanadu Quantum Technologies (XNDU.TO) is a Canada Information Technology company (Financial Conglomerates) with a market value of $815M, the 274th largest of 420 Canada companies the cockpit tracks. Shares closed at C$3.75 on 6 Nov 2026.
Performance Over six months the shares fell 84.1%, against +1.5% for the median peer and +5.2% for the Canada market (cap-weighted) — lowest of 12 in its peer set.
Growth The operating margin is -1,410.0% (peer median 12.0%).
Valuation It trades at 2.57× book value against a peer median of 2.75× (6th cheapest of 12).
Price implies The share price implies a return on equity of about 43.2%; Xanadu Quantum Technologies delivers -22.9%, so the price asks more than the business earns today.
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
Relative performance
Six months, rebased to 100: Xanadu Quantum Technologies against the median of its 11 peers (local-currency closes).
Xanadu Quantum Technologies financials
Reported figures in CAD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Performance: 6-month against 1-month return
Up and to the right = strong over both horizons. Xanadu Quantum Technologies is the large dot.
Fundamentals: return on equity against price-to-book
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Xanadu Quantum Technologies is the large dot.
Capital: ROE delivered against the ROE the price implies
Above the diagonal = the price asks for a higher return on equity than the business earns today. Xanadu Quantum Technologies is the large dot.
Xanadu Quantum Technologies competitors and peer comparison
Head to head with its named competitors (XNDU.TO vs IONQ vs RGTI vs QBTS)
Who are Xanadu Quantum Technologies's main competitors?
Named competitors: IonQ (IONQ), Rigetti Computing (RGTI), D-Wave Quantum (QBTS). The cockpit's measured peer set (sector in the same market, nearest in size) also includes Propel (PRL.TO), Pason Systems (PSI.TO), Docebo (DCBO.TO), Enghouse Systems (ENGH.TO), Evertz Technologies (ET.TO), Firan Technology (FTG.TO).
Is Xanadu Quantum Technologies expensive compared with its peers?
On price / book it trades at 2.57× against a peer median of 2.75×, 6th cheapest of 12 in its peer set. The share price implies a return on equity of about 43.2%; Xanadu Quantum Technologies delivers -22.9%, so the price asks more than the business earns today.
How has Xanadu Quantum Technologies stock performed?
Over six months to 6 Nov 2026 the shares returned -84.1% against +1.5% for the median peer.