BTQNasdaqServices-Computer Programming, Data Processing, Etc.US GAAP · USD

BTQ Technologies Corp.

BTQ Technologies Corp. is a quantum technology company focused on software, emulation, and trust infrastructure for the quantum computing era. It operates through a mix of proprietary technologies, strategic partnerships, and acquired capabilities, with activities spanning North America, Europe, and Asia.

Liikevaihto0,3milj. USD
−52,7 %v/v
Liikevoitto (EBIT)−24,6milj. USD
−310,1 %v/v
EBIT-marginaali−7 799,1%
−6 899,1 %-yks.v/v
Nettotulos−24,6milj. USD
−304,9 %v/v
Vapaa kassavirta−15,0milj. USD
−202,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2023–2025

−30−20−10010milj. USD2023: 0,00 milj. USD2023: EBIT −15 milj. USD20232024: 0,67 milj. USD2024: EBIT −6,0 milj. USD20242025: 0,32 milj. USD2025: EBIT −25 milj. USD20250,32−25
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Quantum software and emulation35 %

Software platforms and emulators used to model, test, and validate quantum systems.

Trusted quantum infrastructure25 %

Tools and infrastructure aimed at secure, post-quantum and regulated applications.

Quantum cloud platform enablement15 %

Cloud-based access and commercialization channels for quantum software services.

Post-quantum Bitcoin solutions15 %

Protocols, tooling, and reference implementations for quantum-safe Bitcoin.

Quantum design automation10 %

Digital twin, control, and design automation capabilities for quantum hardware and software.

Asiakkaat

BTQ sells primarily to institutions and enterprises that need quantum software, validation, or security capabilities before large-scale quantum systems become practical. Its disclosed end markets include banks, VASPs, enterprise IT users, hardware-rooted security buyers, research institutions, and regulated digital-asset infrastructure participants. The company also uses regional partners to reach customers through cloud platforms and commercialization channels.

Financial institutions

Banks and other regulated financial firms buying quantum-safe validation, payment, and infrastructure tools.

Digital asset and VASP platforms

Exchanges, VASPs, and tokenized-money participants using regulated infrastructure and validation layers.

Enterprise IT and security buyers

Enterprises seeking post-quantum security, emulation, and hardware-rooted trust capabilities.

Research institutions

Universities and labs using quantum emulation and cloud-based access for experimentation and validation.

Channel and platform partners

Strategic partners that embed BTQ technologies into their own commercial offerings and local ecosystems.

Strategia

BTQ’s strategy centers on converting its quantum software and post-quantum technologies into commercial deployments through regional partners and regulated market use cases. It is prioritizing quantum cloud commercialization, bank and VASP adoption of QSSN, and the scaling of Bitcoin Quantum as a reference implementation for post-quantum Bitcoin.

Commercialize QSSN through bank and VASP deploymentsLyhyt aikaväli

Converting pilots into live deployments creates repeatable revenue paths in regulated infrastructure.

Scale partner-led quantum cloud distributionLyhyt aikaväli

Partner ecosystems expand reach without requiring BTQ to build every local channel itself.

Expand into priority regulated marketsKeskipitkä aikaväli

The company is targeting jurisdictions where post-quantum and tokenized-money infrastructure may gain early adoption.

Advance Bitcoin Quantum toward broad adoptionKeskipitkä aikaväli

A production-grade reference implementation can establish technical leadership in post-quantum Bitcoin.

Maantiede

BTQ is headquartered in Vancouver, Canada, but the business is organized around global partnership markets rather than one domestic operating base. Recent disclosures highlight South Korea as a key commercialization market, with additional focus on Taiwan, the United States, and Europe for regulated infrastructure and enterprise adoption. Its technology stack and partner relationships also extend into France through QPerfect and broader international quantum ecosystems.

Riskit

BTQ depends on converting technical capabilities into commercial deployments, so execution risk is high if pilots do not turn into paying customers. It also faces adoption uncertainty in emerging quantum and post-quantum markets, where customer demand, standards, and regulation may develop unevenly across regions. As a technology company, it is exposed to partnership dependence, product readiness risk, and the challenge of sustaining development spend before revenue scales.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Commercial conversion risk1Partner concentration2Technology adoption uncertainty3Regulatory and jurisdictional complexity4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Commercial conversion riskVaikutus: KorkeaTodennäköisyys: Korkea

    The business relies on turning pilots and discussions into live deployments and paid usage.

    KohdistuuQSSNBankVASP commercialization
  2. Partner concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Cloud and regional market access depend on strategic partners such as SDT and other ecosystem participants.

    Kohdistuu: QuREKA and regional commercialization

  3. Technology adoption uncertaintyVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Quantum-safe and post-quantum products are still early-stage markets with evolving standards and customer readiness.

    KohdistuuQuantum softwareBitcoin Quantum
  4. Regulatory and jurisdictional complexityVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Banking, VASP, and tokenized-money use cases require approvals and operate in tightly regulated environments.

    KohdistuuKoreaTaiwanU.SEurope

Kirjanpito

Harkinnanvaraiset erät
Business combinations and intangibles

Acquired quantum software and related technology may require fair-value allocation and subsequent impairment review.

Vaikutus: Can materially affect assets, amortization, and impairment charges

Revenue recognition

Commercial structures may include deployment fees, usage fees, and licensing arrangements with different timing rules.

Vaikutus: Can shift revenue between periods and affect comparability

Capitalized development costs

Technology development can create judgment over when costs are expensed versus capitalized.

Vaikutus: Affects operating losses and carrying value of intangible assets

Fair value measurements

Acquisition-related estimates and potential contingent amounts may depend on valuation assumptions.

Vaikutus: Can create volatility in reported earnings and balance sheet values

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 28.9.2026

BTQ Technologies Corp. (Nasdaq) – Services-Computer Programming, Data Proc | Analyysi – Clarifo