# Xanadu Quantum Technologies Limited (XNDU)

> Source: Nexqual · https://nexqual.com/XNDU · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Xanadu Quantum Technologies Limited (XNDU), nexqual.com/XNDU" · informational, not investment advice.

**Price:** USD 2.71 (-4.58% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 2.84 · day 2.68–2.86 · 52w 2.65–42.44 · market cap $825M · NGM

## Key facts
- Analysts: Buy (mean 2.00 on a 1–5 scale) (5 analysts), mean target USD 28.75 (range 16–43).
- Total return with dividends: 1Y -66.2% vs S&P 500 +14.9%; 5Y -76.4% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD -0.1, revenue estimate $2.8M.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 5 analysts; mean target USD 28.75 (low 16, high 43).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-29 | RBC Capital | Initiated | Outperform | $16 |
| 2026-08-06 | Canaccord Genuity | Target lowered | Buy | $45 → $34 |
| 2026-07-29 | CIBC | Initiated | Outperformer | $22 |

## Total return (dividends reinvested)
|  | 1Y (from 2026-03-23) | 5Y (from 2026-03-23) |
|---|---|---|
| Total return | -66.2% | -76.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | — | — |
| Volatility (annualized) | 204.2% | 216.7% |
| Max drawdown | -92.5% (May 2026→Oct 2026) | -92.5% (Apr 2026→Oct 2026) |

## Peers (Software - Infrastructure)
PAY (Paymentus Holdings, Inc.) USD 34.07 +3.06% · BLSH (Bullish) USD 29.19 -1.95% · DLO (DLocal Limited) USD 14.84 -2.05% · TENB (Tenable Holdings, Inc.) USD 42 +3.27% · BB (BlackBerry Limited) USD 8.59 -8.71% · RELY (Remitly Global, Inc.) USD 25.32 -0.39%

## More
Full page: https://nexqual.com/XNDU · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in XNDU's own 20-F filed 2026-04-09 (https://www.sec.gov/Archives/edgar/data/2097163/000121390026042080/ea0285152-20f_xanadu.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Applied Materials (AMAT) | "A key collaboration with Applied Materials focuses on co-developing the first 300 mm wafer-compatible" |
| Partner | Toyota (TM) | "Current collaborations include leading organizations such as Volkswagen, Toyota," |
| Partner | Amazon (AMZN) | "Our partnerships with major cloud providers such as Amazon" |

Other companies that name XNDU in their own reports (relationship from XNDU's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Crane Harbor Acquisition Corp. II (CRAN) | 10-K 2026-02-27 | "Crane Harbor I has entered into a business combination agreement with Xanadu Quantum Technologies Inc., a corporation continued under" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.10 | $-0.43 | -76.7% | $2.8M | 2 |
| Next quarter (ends 2026-12-31) | $-0.11 | $-0.47 | -76.6% | $3.3M | 2 |
| Current fiscal year (ends 2026-12-31) | $-0.47 | $-1.02 | -54.5% | $9.2M | 3 |
| Next fiscal year (ends 2027-12-31) | $-0.49 | $-1.24 | -60.3% | $11.4M | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-10-30 (includes earnings 2026-10-29): ±12.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 91.1% | ±12.9% |
| 2026-11-06 | 14 | 217.8% | ±34.7% |
| 2026-11-13 | 21 | 356.1% | ±44.3% |
| 2026-11-20 | 28 | 125.4% | ±54.2% |
| 2026-12-18 | 56 | 98.9% | ±29.0% |
| 2027-01-15 | 84 | 152.7% | ±48.0% |
| 2027-03-19 | 147 | 155.1% | ±106.1% |
| 2027-04-16 | 175 | 223.7% | ±91.3% |