Lucide Ledger

A filing-first public record from Lucide House.

Issue 005 | U.S. Pilot | US

INFQ

Infleqtion, Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-05-15 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 52.5%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
464,876,000USD
Total Liabilities
27,356,000USD
NCAV
437,520,000USD
Cash
84,674,000USD
NCAV per share
1.92USD/share
Evidence
2 annual | 11 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated
12
Triggered
2
Unavailable
8
Requires inspection Negative OCF -19,159,000
Latest
-19,159,0002026-03-31
Comparison
n/a
Change
n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2026-03-31 · 0001193125-26-227206

Supporting observation Current Ratio > 1.5 19.74
Latest
19.742026-03-31
Comparison
1.5
Change
n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 10-Q 2026-03-31 · 0001193125-26-227206

8 unavailable checks — inspect missing inputs
High Debt (short-term debt + long-term debt) / ordinary equity >= 50%
High NCAV Burn since the previous filing NCAV burn since previous filing >= 10%; previous NCAV must be positive
Low Debt (short-term debt + long-term debt) / ordinary equity < 20%
Material 1Y Share Increase 1Y share change >= +2% using the same share-count source
NCAV Growing equivalent prior-year NCAV change >= +2%; both NCAV values must be positive
No Material 1Y Share Increase 1Y share change > -2% and <= +1% using the same share-count source
Non-Positive Equity ordinary shareholders equity <= 0
Share Count Reduced 1Y share change <= -2% using the same share-count source

Business Profile

Checklist-driven facts extracted from filing text. Missing fields stay visible in the details.

business_profile_v1

Business profile: 0 of 12 fields established by the current extractor.

Business Profile Field Details

Business Description

Missing Source

Not established by the current extractor from the selected filing context.

Revenue Model

Missing Source

Not established by the current extractor from the selected filing context.

Customers And Channels

Missing Source

Not established by the current extractor from the selected filing context.

Segments And Geography

Missing Source

Not established by the current extractor from the selected filing context.

Tangible Operations Assets

Missing Source

Not established by the current extractor from the selected filing context.

Value Chain

Missing Source

Not established by the current extractor from the selected filing context.

Competition Positioning

Missing Source

Not established by the current extractor from the selected filing context.

Business Lifecycle Cyclicality

Missing Source

Not established by the current extractor from the selected filing context.

Strategy And Capital Allocation

Missing Source

Not established by the current extractor from the selected filing context.

Management Governance Signals

Missing Source

Not established by the current extractor from the selected filing context.

Disclosed Risks

Missing Source

Not established by the current extractor from the selected filing context.

Known Unknowns

Missing Source

Not established by the current extractor from the selected filing context.

Business Profile Sources
Source Filing Date Type Status Provenance
S1 0001193125-25-277719 2025-11-12 10-Q Missing Source Data Vault | sec/cleaned/cik=0002007825/accession=0001193125-25-277719/parser=html-cleaner-v1/full.txt
Share Count & Per-Share Comparability

Data Vault has not published the normalized share-count artifact for this company.

Known Unknowns

Only 11 quarterly periods available from Data Vault for this company.

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2025-12-31
10-K
USD
2024-12-31
10-K
USD
Revenue 31,108,000 28,094,000
Operating Income -8,035,205 -51,910
Net Income -66,931,068 -51,910
Cash From Operations -2,272,729 0
Capex n/a n/a
Free Cash Flow n/a n/a
Cash And Equivalents 11,694,000 n/a
Accounts Receivable 9,543,000 n/a
Inventory 4,299,000 n/a
Total Current Assets 1,069,583 0
Total Assets 424,866,229 157,937
Total Current Liabilities 75,795,575 184,847
Total Liabilities 78,795,575 184,847
Shareholders Equity -77,618,849 -26,910
Shares Outstanding 216,471,927 n/a
Shares Outstanding Diluted n/a n/a
Weighted Avg Shares Diluted 46,186,000 39,808,027
Weighted Avg Shares Basic 46,186,000 39,808,027
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Only 11 quarterly periods available from Data Vault for this company.

Metric
2026-06-30
10-Q
USD
2026-03-31
10-Q
USD
2025-12-31
10-K
USD
2025-12-31
10-K
USD
2025-12-31
10-K
USD
2025-12-31
10-K
USD
2025-12-31
10-K
USD
2025-12-31
10-K
USD
2025-09-30
10-Q
USD
2025-06-30
10-Q
USD
2025-03-31
10-Q
USD
Revenue 13,538,000 9,461,000 n/a n/a n/a n/a n/a 10,325,000 7,203,000 5,277,000 8,303,000
Operating Income -29,858,000 -33,575,000 -552,243 -552,243 -552,243 -552,243 -552,243 -552,243 -7,279,530 -185,232 -18,200
Net Income -24,695,000 -30,263,000 -35,501,343 -35,501,343 -35,501,343 -35,501,343 -35,501,343 -35,501,343 -33,384,811 1,973,286 -18,200
Cash From Operations 13,185,000 -19,159,000 -433,408 -433,408 -433,408 -433,408 -433,408 -433,408 -1,081,704 -757,617 0
Capex n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Free Cash Flow n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Cash And Equivalents 59,285,000 84,674,000 11,694,000 11,694,000 11,694,000 11,694,000 11,694,000 11,694,000 1,135,562 1,232,392 n/a
Total Current Assets 500,349,000 464,876,000 1,069,583 1,069,583 1,069,583 1,069,583 1,069,583 1,069,583 1,528,696 1,633,193 n/a
Total Liabilities 67,071,000 27,356,000 78,795,575 78,795,575 78,795,575 78,795,575 78,795,575 78,795,575 39,696,665 3,102,760 215,992
Shares Outstanding 225,357,052 218,196,891 17,449,020 17,449,020 17,449,020 17,449,020 17,449,020 216,471,927 n/a n/a n/a
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 219,743,810 118,162,332 n/a n/a n/a n/a n/a n/a 45,456,929 15,586,999 9,000,000
Weighted Avg Shares Basic 219,743,810 118,162,332 n/a n/a n/a n/a n/a n/a 45,456,929 15,586,999 9,000,000
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 500,349,000USD us-gaap:AssetsCurrent 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0002007825/companyfacts.json
Data Vault | sec/companyfacts/cik=0002007825/companyfacts.json
Total Liabilities 67,071,000USD us-gaap:Liabilities 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0002007825/companyfacts.json
Data Vault | sec/companyfacts/cik=0002007825/companyfacts.json
Cash 59,285,000USD us-gaap:CashAndCashEquivalentsAtCarryingValue 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0002007825/companyfacts.json
Data Vault | sec/companyfacts/cik=0002007825/companyfacts.json
Shares Outstanding 225,357,052 dei:EntityCommonStockSharesOutstanding 2026-06-30 1.00 Data Vault | sec/companyfacts/cik=0002007825/companyfacts.json
Data Vault | sec/companyfacts/cik=0002007825/companyfacts.json
NCAV 433,278,000USD derived 2026-06-30 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 1.92USD derived 2026-06-30 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 52.5% derived 2026-06-30 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0002007825
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0002007825/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0002007825/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
6
Imported At
2026-10-04T02:13:41+00:00
Rendered At
2026-10-04T14:24:38+00:00

Run Audit

Mary Run
062cd84c6cec4533b9bb580392e1f3bf
Mary As Of
2026-08-07
Accession
0001193125-26-227206
CIK
0002007825
Mary Filing Date
2026-05-15
Filing Currency
USD
Internal Discount
52.5%
Source State
Verified
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=062cd84c6cec4533b9bb580392e1f3bf; mary_as_of=2026-08-07; mary_filing_date=2026-05-15; mary_accession=0001193125-26-227206; mary_cik=0002007825; gnni_supporting_filing_date=2026-05-15; internal_discount=0.52501; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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