$QTEX

QTREX Quantum Ltd.

CIK:0001837493|SEC Filings

STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenues	$ 289	$ 0	$ 0
Cost of revenues	287	0	0
Gross Profit	2	0	0
Research and development expenses	7,496	6,323	7,320
General and administrative expenses	5,532	4,185	4,063
Sales and marketing expenses	588	754	746
Other expenses	9	5	4
Operating loss	13,623	11,267	12,133
Interest income from deposits	(64)	(172)	(318)
Finance expenses (income), net	(339)	(42)	(529)
Loss before tax	13,220	11,053	11,286
Taxes on income	0	0	0
Total comprehensive and net loss	$ 13,220	$ 11,053	$ 11,286
Net loss per ordinary share, basic (in Dollars per share)	$ (0.45)	$ (0.6)	$ (0.93)
Net loss per ordinary share, diluted (in Dollars per share)	$ (0.45)	$ (0.6)	$ (0.93)
Weighted average number of ordinary shares outstanding basic (in Shares)	29,623,194	18,515,545	12,095,477
Weighted average number of ordinary shares outstanding diluted (in Shares)	29,623,194	18,515,545	12,095,477

STATEMENTS OF CASH FLOW - USD ($) $ in Thousands	12 Months Ended
STATEMENTS OF CASH FLOW - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CASH FLOW FROM OPERATING ACTIVITIES:
Net loss	$ (13,220)	$ (11,053)	$ (11,286)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	150	171	111
Capital loss	9	5	0
Share based compensation expenses	3,575	1,892	1,427
Share based compensation – placement agent warrants	0	0	59
Evaluation of financial liability at fair value	(720)	47	(306)
Expiration of financial liability	0	(11)	0
Issuance cost	0	0	205
Issuance of ordinary shares - advisor fees	116	62	0
Prepayments of lease liabilities	0	(9)	(7)
Decrease (increase) in right of use assets, net	99	31	(5)
Decrease (increase) in other current assets	78	(84)	190
(Decrease) increase in trade accounts payables	(47)	(44)	46
(Decrease) increase in other accounts payable	(58)	118	(190)
(Increase) decrease in inventory	(291)	(444)	0
Unrealized foreign exchange (gain) loss	(25)	(55)	65
Financial expenses due to commitment fee – Standby Equity Purchase Agreement (SEPA)	250	0	0
Issuance of ordinary shares - commitment fee (SEPA)	223	0	0
Net cash used in operating activities	(9,861)	(9,374)	(9,691)
CASH FLOW FROM INVESTING ACTIVITIES:
Purchase of property, plant, and equipment	(103)	(164)	(206)
Change in deposits, net	668	1,652	4,800
Net cash provided by investing activities	565	1,488	4,594
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of ordinary shares, pre-funded warrants and ordinary warrants, net	1,759	7,898	3,424
Exercise of options	10	2	3
Exercise of warrants and pre-funded warrants, net	912	2	0
Issuance of ordinary shares (issuances pursuant to an at-the-market facility), net	4,646	0	26
Net cash provided by financing activities	7,327	7,902	3,453
Effect of exchange rate changes on cash and cash equivalents	25	55	(65)
Net increase (decrease) in cash and cash equivalents and restricted cash	(1,969)	16	(1,644)
Cash, cash equivalents and restricted cash at the beginning of the period	5,201	5,130	6,839
Cash, cash equivalents and restricted cash at the end of the period	3,257	5,201	5,130
Cash and cash equivalents	3,159	5,111	5,041
Restricted cash	98	90	89
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	3,257	5,201	5,130
Other receivable in connection to December private placement	0	70	0
Accrued issuance expenses	(43)	(220)	0
Financial liability- placement agent fee (Note 10-A)	0	(69)	0
Share based compensation- placement agent warrants against additional paid in capital (Note 11)	0	(254)	(73)
Total non cash transactions	(43)	(473)	(73)
Interest paid	$ 65	$ 72	$ 93

BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current Assets
Cash and cash equivalents	$ 3,159	$ 5,111
Deposits	0	668
Other current assets	517	587
Inventory	735	444
Total current assets	4,411	6,810
Non-Current Assets:
Right of use assets, net	478	761
Property, plant and equipment, net	452	499
Total non-current assets	930	1,260
Total Assets	5,341	8,070
Current Liabilities:
Trade accounts payables	107	154
Other accounts payables	1,349	1,364
Lease liabilities	286	277
Financial liabilities at fair value	1,082	1,575
Total current liabilities	2,824	3,370
Non-Current Liabilities:
Lease liabilities	194	378
Total non- current liabilities	194	378
Shareholders’ Equity:
Ordinary shares, no par value: Authorized 100,000,000 ordinary shares as of December 31, 2025 and December 31, 2024; Issued and outstanding 35,949,247 ordinary shares as of December 31, 2025 and 24,252,096 shares as of December 31, 2024	0	0
Share capital and additional paid in capital	82,117	70,896
Accumulated losses	(79,794)	(66,574)
Total Shareholders’ Equity	2,323	4,322
Total liabilities and Shareholders’ Equity	$ 5,341	$ 8,070