Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2026

Revenue Recognition

Summary of disaggregation of revenue according to the type of good or service and timing of transfer of goods or services

The following tables depict the disaggregation of revenue according to the type of good or service and timing of transfer of goods or services for the three and six months ended June 30, 2026 and June 30, 2025 (in thousands):


		Three Months Ended June 30,						Six Months Ended June 30,
		2026			2025			2026			2025
Collaborative research and professional services		$	952		$	1,711		$	2,251		$	3,043
Sales of quantum computers and quantum components			4,098			—			7,144			—
Access to quantum computing systems			88			90			143			230
		$	5,138		$	1,801		$	9,538		$	3,273


		Three Months Ended June 30,						Six Months Ended June 30,
		2026			2025			2026			2025
Revenue recognized at a point in time		$	4,098		$	—		$	7,144		$	—
Revenue recognized over time			1,040			1,801			2,394			3,273
		$	5,138		$	1,801		$	9,538		$	3,273

Summary of accounts receivable, contract assets and liabilities

Selected condensed consolidated balance sheet line items that reflect accounts receivable, contract assets and liabilities as of June 30, 2026, December 31, 2025 and December 31, 2024 were as follows (in thousands):


		June 30, 2026			December 31, 2025			December 31, 2024
Trade receivables		$	3,374		$	1,204		$	1,498
Unbilled receivables		$	491		$	1,347		$	929
Current portion of deferred revenue		$	(3,316)		$	(847)		$	(113)
Deferred revenue, less current portion		$	(698)		$	(698)		$	(698)

Summary of changes in deferred revenue from contracts with customers


		Six Months Ended June 30,
		2026			2025
Balance at beginning of period		$	(1,545)		$	(811)
Deferral of revenue			(3,446)			(110)
Recognition of deferred revenue			977			105
Total deferred revenue at end of period		$	(4,014)		$	(816)
Current portion of deferred revenue		$	(3,316)		$	(118)
Deferred revenue, less current portion		$	(698)		$	(698)