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Xanadu (Nasdaq, TSX: XNDU) reported full‑year 2025 results and technology milestones on April 9, 2026. Revenue was $4.6M (up 188% YoY); net loss was $70.7M; cash and equivalents were $16.2M as of Dec 31, 2025.
Highlights include a $302M gross proceeds business combination, demonstration of 12 logical GKP qubits with real‑time error correction, a 60% optical loss reduction in 2025, PennyLane reaching ~160,000 average monthly downloads, and advancement to Stage B of DARPA QBI (unlocking up to $15M) plus selection for Canada’s Quantum Champions (up to CAD $23M).