v3.26.1
Revenue Recognition (Tables)
3 Months Ended
Mar. 31, 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 months ended March 31, 2026 and March 31, 2025 (in thousands):

Three Months Ended March 31,

  ​ ​ ​

2026

  ​ ​ ​

2025

Collaborative research and professional services

$

1,299

$

1,332

Sales of quantum computers and quantum components

3,046

Access to quantum computing systems

55

140

$

4,400

$

1,472

  ​ ​ ​

Three Months Ended March 31,

  ​ ​ ​

2026

  ​ ​ ​

2025

Revenue recognized at a point in time

$

3,046

$

Revenue recognized over time

 

 

1,354

 

 

1,472

$

4,400

$

1,472

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 March 31, 2026, December 31, 2025 and December 31, 2024 were as follows (in thousands):

  ​ ​ ​

March 31, 2026

  ​ ​ ​

December 31, 2025

  ​ ​ ​

December 31, 2024

Trade receivables

$

3,323

$

1,204

$

1,498

Unbilled receivables

$

1,053

$

1,347

$

929

Current portion of deferred revenue

$

(1,064)

$

(847)

$

(113)

Deferred revenue, less current portion

$

(698)

$

(698)

$

(698)

Summary of changes in deferred revenue from contracts with customers

Three Months Ended March 31,

  ​ ​ ​

2026

  ​ ​ ​

2025

Balance at beginning of period

$

(1,545)

$

(811)

Deferral of revenue

(222)

(110)

Recognition of deferred revenue

5

76

Total deferred revenue at end of period

$

(1,762)

$

(845)

Current portion of deferred revenue

$

(1,064)

$

(147)

Deferred revenue, less current portion

$

(698)

$

(698)