Here are 1-3 brief analogies to describe Infleqtion:

• It's like a publicly traded private equity fund that's just raised money, specifically to find and acquire one private company to take public, led by a seasoned dealmaker like Michael Klein.
• Think of it as an "empty box" that raised money on the stock market, whose sole purpose is to find and acquire a private company to fill it and take public, guided by a Wall Street veteran (Michael Klein).
• It's like a publicly traded corporate scout team with a large budget, whose mission is to identify and acquire a promising private company to bring to the stock market, all orchestrated by a top dealmaker (Michael Klein).

• Initial Business Combination: Facilitating a merger, acquisition, or other business combination with one or more private operating businesses to bring them public.

Based on the provided description, Infleqtion (symbol: INFQ) is a blank check company (a Special Purpose Acquisition Company, or SPAC). Its purpose is to effect a business combination with one or more businesses. At this stage, it has not selected any business combination target and has not initiated any substantive discussions with any target.

Therefore, Infleqtion does not currently have major customers, as it is not engaged in selling products or services to other companies or individuals. Its primary activity is to identify and complete an initial business combination.

Matt Kinsella, Chief Executive Officer
Matt Kinsella was appointed CEO of Infleqtion in April 2024. Prior to this role, he served as a partner and managing director at Maverick Ventures, where he was responsible for leading technology investments, including Maverick's investment in Infleqtion.

Ilan Hart, Chief Financial Officer
Ilan Hart was appointed Chief Financial Officer of Infleqtion, effective October 20, 2025. He brings nearly 30 years of financial and commercial leadership experience within advanced technology sectors, including over two decades at Intel. Most recently, Hart served as the CFO for Zoox, Amazon's autonomous vehicle company.

Dana Anderson, Chief Science Officer & Founder
Dana Anderson is a founder of Infleqtion. He is also a professor of physics at the University of Colorado, Boulder, where he contributed to the development of the first ultracold atom chip and collaborated with a Nobel Prize-winning team.

Pranav Gokhale, Chief Technology Officer & Co-founder
Pranav Gokhale is a co-founder of Infleqtion. His background includes extensive experience in various engineering and technical roles, including early career positions at the National Institute of Standards and Technology (NIST) and the Federal Trade Commission (FTC).

Paul Lipman, Chief Revenue Officer
Paul Lipman serves as the Chief Revenue Officer for Infleqtion. He has previously held strategic leadership roles within the company, including President and Chief Strategy Officer, where he focused on quantum AI applications.

Here are 3-5 expected drivers of future revenue growth for Infleqtion (INFQ) over the next 2-3 years:

1. Increased Commercialization and Adoption of Quantum Computing Systems: Infleqtion expects future revenue growth through the continued development and deployment of its neutral-atom quantum computing systems, such as the Sqale platform. The company successfully delivered the UK's only operational 100-physical-qubit neutral-atom quantum computing system to the National Quantum Computing Centre in December 2025. Infleqtion aims to achieve greater than 30 logical qubits in 2026 and over 100 logical qubits by 2028, positioning its neutral-atom approach as a scalable path toward fault-tolerant quantum computing. The company has already sold three quantum computers.
2. Expansion of Quantum Sensing and Precision Device Sales: Infleqtion's portfolio includes precision sensors, quantum clocks, RF receivers, and inertial sensors, all designed for real-world applications. Sales of these quantum sensors are a core revenue driver, with hundreds already sold. Notably, its inertial sensors provide GPS-independent navigation for aerospace and defense, a critical capability in contested environments. The company aims to ramp up sales of its quantum sensors.
3. Growth through Strategic Partnerships and Government Contracts: Infleqtion has established partnerships and secured contracts with high-profile clients, including NVIDIA, the U.S. Department of War (referenced as U.S. Department of Defense in other contexts), NASA, and the U.K. government. These collaborations extend to significant projects, such as a $6.2 million ARPA-E contract for energy grid optimization, a $2 million U.S. Army contract for navigation systems, and over $20 million in NASA funding for a space-based quantum gravity sensor. The company reported approximately $50 million of booked and awarded business at year-end 2025, with a potential customer pipeline exceeding $300 million.
4. Development and Launch of New Quantum Applications and Technologies: Future revenue growth is also anticipated from Infleqtion's ongoing research and development, which leverages its neutral-atom technology to create new applications and breakthroughs. For example, Infleqtion secured $3.9 million in federal funding from the U.S. Department of Energy for its QC3 project, aimed at advancing quantum computing applications in chemistry and materials science, including the discovery of new high-temperature superconductors. This focus on innovation is expected to unlock additional use cases in artificial intelligence, national security, space, and other emerging markets.

Share Issuance

• Infleqtion became a publicly listed company on February 17, 2026, on the NYSE under the ticker symbol INFQ, following its business combination with Churchill Capital Corp X.

Inbound Investments

• The business combination provided Infleqtion with over $550 million in gross proceeds.
• This funding included nearly all of Churchill X's trust account and a Private Investment in Public Equity (PIPE) of more than $125 million from existing Infleqtion stockholders and new institutional investors.
• The proceeds are intended to accelerate the commercialization of Infleqtion's quantum computing and sensing products.

Capital Expenditures

• Infleqtion designs and builds quantum computers, precision sensors, and quantum software, which inherently requires ongoing investment in research, development, and specialized equipment.
• The company has expanded collaborations, including with NVIDIA, to integrate its NVQLink quantum architecture with GPU-accelerated AI systems, leading to the installation of an NVQLink-enabled Sqale quantum computer at the Illinois Quantum & Microelectronics Park.
• Infleqtion maintains offices in multiple locations across the U.S., Australia, and the United Kingdom, indicating capital investments in facilities and operational infrastructure.