INFQ · CIK 0002007825
What Infleqtion, Inc. told the SEC could break it.
Infleqtion's disclosures center on heavy dependence on government customers: about 60% of fiscal 2025 revenue came from the U.S. government (as prime or subcontractor) and another 12% from the UK government, exposing it to appropriations and contract-award risk. As a maker of quantum and other dual-use technology, it is subject to U.S. and international export and import controls and sanctions, where non-compliance could impair its global competitiveness and create liability. And it relies on third-party suppliers — including sole-source suppliers — for components needed to build its quantum computing and networking systems, so a supply shortfall would delay deliveries.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- U.S. government ~60% of FY2025 revenue (UK gov 12%)high
Heavy dependence on government customers: ~60% of FY2025 revenue from the U.S. government (prime or subcontractor), plus ~12% from the UK government — exposed to appropriations and contract-award risk.
“Sales to the customers within the U.S. government, either as a prime contractor or subcontractor, represented approximately 60% of our revenue for the fiscal year ended December 31, 2025.”
SEC filing →As of 2026
Regulatory & policy
- export controls on dual-use quantum technologymedium
Quantum/dual-use technology is subject to US and international export/import controls and sanctions; non-compliance could impair global competitiveness and create liability.
“We are subject to governmental export and import controls and trade and economic sanctions that could impair our ability to compete in global markets and subject us to liability if we are not in full compliance with applicable laws and other controls.”
Sole-source dependency
- sole-source component suppliers for quantum systemsmedium
Reliant on third-party suppliers, including sole-source suppliers, for components needed to build its quantum computing and networking solutions; supply shortfalls would delay deliveries.
“Additionally, we are reliant on third-party suppliers, including sole source suppliers, for components necessary to develop and manufacture our quantum computing and networking solutions.”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its suppliers
Wisconsin Alumni Research Foundation (WARF)
“For example, we license patents (some of which are foundational patents) and other intellectual property (collectively the “University Licenses”) from the Regents of the University of Colorado and the Wisconsin Alumni Research Foundation, on both exclusive and non-exclusive bases.”
Cited →Regents of the University of Colorado
“For example, we license patents (some of which are foundational patents) and other intellectual property (collectively the “University Licenses”) from the Regents of the University of Colorado and the Wisconsin Alumni Research Foundation, on both exclusive and non-exclusive bases.”
Cited →
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