Sealsq Collaborates with Lattice to Integrate Post-Quantum Security Technology

Welcome to the latest edition of "Quantum Leap," where The Fly decodes news and activity in the quantum computing space.POST QUANTUM SECURITY PACT:Sealsqannounced its collaboration with Lattice Semiconductorto integrate TPM-based advanced post-quantum security capabilities into select Lattice FPGA solutions. This collaboration addresses the need for quantum-resistant technologies in mission-critical applications for edge computing and other high-stakes environments. "This collaboration perfectly illustrates Sealsq's strategy of extending our leadership in post-quantum security beyond direct OEM sales," said Bernard Vian, general manager of Sealsq. "We continue to deliver ready-to-deploy and custom secure chips directly to customers, while also leveraging our deep expertise in post-quantum hardware and flexible semiconductor design capabilities to empower strategic partners across the industry. Collaborating with Lattice allows us to bring our cutting-edge, tailored PQC protection to their FPGA platforms, accelerating the secure transition to quantum-resistant systems for a broad range of high-performance applications."PRELIMINARY EARNINGS:Sealsq reported preliminary FY25 revenue of $18M, up 66% year-over-year. FY25 net loss is expected to be in the range of $30M-$40M, representing an increase in loss against the FY24 net loss of $21M. The 2025 net loss includes further investment in research and development, and sales and marketing efforts designed to accelerate growth with the launch of the new post-quantum semiconductor product range, increased operating expenses due to the consolidation of IC'ALPS since August 2025 as well as a non-cash share based compensation charge of approximately $9M. Carlos Moreira, CEO of Sealsq, stated: "Our 66% revenue growth in 2025, combined with initial expectations of Q1 2026 revenue exceeding $4 million, mark a clear inflection point for Sealsq. We are transitioning from a development and investment cycle into a structured commercial acceleration phase. With more than $425 million in cash, an estimated $200+ million of new potential revenue opportunities pipeline, and growing global demand for quantum-resistant infrastructure, SEALSQ is strategically positioned to become a cornerstone player in sovereign semiconductor and quantum-security ecosystems worldwide."QUANTUM ALGORITHMS:Classiq, Comcastand AMDannounced the completion of a trial aimed at improving internet delivery by leveraging quantum algorithms to supercharge network routing resilience. "What our customers want is simple: fast, secure and reliable connectivity, but when you operate a network as large and dynamic as ours, delivering on that promise is complex, especially in the face of growing network demand," said Elad Nafshi, chief network officer, Comcast Connectivity and Platforms. "We launched these trials with Classiq last year with the goal of understanding how quantum software and technology could tackle real network challenges. Our results have shown that quantum computing for network optimization isn't theoretical - it's practical, scalable, and grounded in the needs of our customers." The trial applied quantum techniques, alongside high-performance classical computing, to test whether quantum algorithms could successfully identify unique network backup paths in real-time across change management scenarios. It comprised of execution on quantum hardware and in accelerated simulation environments that made use of AMD Instinct GPUs to achieve meaningful computational capacitynot yet possible through quantum hardware alone. With the GPU-accelerated simulations, the teams were able to iterate rapidly and validate algorithm behavior, together with runs executed on quantum hardware to assess implementation success. Classiq provided quantum software and engineering support, empowering rapid modeling, optimized implementation and execution across both hardware and simulated environment executions.NEW COMPETITION:Infleqtion became a publicly listed company trading on the NYSE under the ticker symbolfollowing the completion of its previously announced business combination with Churchill Capital Corp X. Infleqtion's product portfolio includes quantum computers, quantum optical clocks, RF receivers, and inertial sensors, all engineered for real-world deployment and optimized with Infleqtion's proprietary software. These systems are already in use by the U.S. Department of War, NASA, and the U.K. government, and also form elements of multiple collaborations with NVIDIA. "Infleqtion was founded on a simple conviction: neutral atoms are the best path for commercializing quantum technology because they are scalable and economical. That architectural advantage, paired with our vertically integrated hardware and software stack that spans quantum computing and sensing, has translated into growing commercial traction across government and industry," said Matthew Kinsella, CEO of Infleqtion. "As a public company we can accelerate our technology roadmap and expand deployments in areas such as aerospace, defense and critical infrastructure, bringing practical quantum solutions to market at increasing speed and scale."ANALYST COMMENTARY:TD Cowen downgraded Rigetti Computingto Hold from Buy without a price target. The firm sees a balanced risk/reward at current share levels due to Rigetti's "premium valuation" relative to peers. The company may also need new capital to fund its 200mm fab, the analyst told investors in a research note. TD believes Rigetti is facing greater competition headwinds are being excluded from Defense Advanced Research Projects Agency's Quantum Benchmarking Initiative Stage B program.TD Cowen initiated coverage of D-Wave Quantumwith a Buy rating and no price target. The company's leadership in quantum annealing is driving growth and high margins, the analyst said. TD believes D-Wave's newly acquired dual-rail qubits from Quantum Circuits accelerates its superconducting gate program and will expand its total addressable market.