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Revenue (Tables)

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Revenue Disaggregated by Revenue

The Company’s revenue disaggregated by revenue source is as follows (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
Quantum computing and networking hardware		$	21,584			$	6,345			$	39,673			$	17,301
Platform, consulting and support services			18,282				6,055				28,453				14,062
Total revenue		$	39,866			$	12,400			$	68,126			$	31,363

The Company’s revenue disaggregated by customer location is as follows (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
United States		$	28,742			$	11,895			$	49,748			$	29,910
International			11,124				505				18,378				1,453
Total revenue		$	39,866			$	12,400			$	68,126			$	31,363

Summary of Changes in Unearned Revenue

The following table summarizes the changes in unearned revenue for the nine months ended September 30, 2025 (in thousands):

		Total
Balance as of December 31, 2024		$	10,678
Revenue recognized			(10,214	)
New deferrals, net			24,775
Balance as of September 30, 2025		$	25,239

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Summary of changes in unearned revenue.

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Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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