Zapata Quantum, Inc. filed its quarterly report on Form 10-Q for the period ended September 30, 2026 with the SEC on November 9, 2026, reporting a net loss of $6,040 thousand for the nine months ended September 30, 2026 and a shift to positive stockholders' equity.

Key Highlights

  • Net loss for nine months: Zapata Quantum reported a net loss of $6,040 thousand for the nine months ended September 30, 2026, compared to net income of $5,195 thousand in the same period of 2025.
  • Revenue: The company reported $0 in revenue for both the three and nine months ended September 30, 2026, according to the filing.
  • Cash position: Cash increased to $11,244 thousand as of September 30, 2026, from $1,659 thousand as of December 31, 2025.
  • Stockholders' equity shift: Total stockholders' equity improved to $1,527 thousand at September 30, 2026, from a deficit of $(8,267) thousand at December 31, 2025.
  • Series D preferred stock sale: The company received net proceeds of $13,838 thousand from the sale of 15,000 shares of Series D Preferred stock during the nine-month period.
  • Shares outstanding: Common shares outstanding reached 194,321,718 as of October 30, 2026, up from 172,318,506 at December 31, 2025.
  • Accumulated deficit: The accumulated deficit stood at $124,899 thousand as of September 30, 2026, compared to $118,333 thousand at December 31, 2025.

Zapata Quantum's Financial Position and Operating Results for the Nine Months Ended September 30, 2026

According to the filing, Zapata Quantum, Inc. - whose securities are registered under Commission file number 001-41218, with no securities listed on a national exchange under Section 12(b) of the Act - reported total operating expenses of $5,601 thousand for the nine months ended September 30, 2026, compared to $2,293 thousand in the prior-year period. The increase was driven primarily by sales and marketing expenses of $1,171 thousand and research and development expenses of $1,659 thousand, both of which were negligible or absent in the comparable 2025 period. General and administrative expenses were $2,771 thousand for the nine months ended September 30, 2026, versus $2,287 thousand in the nine months ended September 30, 2025.

The company disclosed total other expense, net of $(439) thousand for the nine months ended September 30, 2026, compared to other income of $7,488 thousand in the same period of 2025. The prior-year figure benefited from a gain on extinguishment of forward purchase agreement settlement liability of $2,357 thousand and a gain on extinguishment of liabilities of $5,614 thousand, neither of which recurred in 2026. Interest expense was $545 thousand for the nine months ended September 30, 2026. Net loss attributable to common stockholders was $(6,566) thousand for the nine-month period, reflecting an additional $(526) thousand in Series D preferred stock capitalized dividends, the filing stated.

The balance sheet as of September 30, 2026 showed total assets of $11,916 thousand and total liabilities of $10,389 thousand. The company disclosed convertible promissory notes, current, of $3,241 thousand (of which $300 thousand are to related parties), and senior secured notes, current, of $1,480 thousand. Stock-based compensation expense of $1,535 thousand and the net proceeds from the Series D Preferred stock sale of $13,838 thousand were among the principal equity transactions during the nine-month period, according to the filing. The company described itself as a smaller reporting company and an emerging growth company.

What Was Disclosed

Zapata Quantum, Inc. filed a Form 10-Q for the quarter ended September 30, 2026, disclosing zero revenue, a nine-month net loss of $6,040 thousand, a cash balance of $11,244 thousand, and a return to positive stockholders' equity of $1,527 thousand, driven in part by a $13,838 thousand Series D Preferred stock sale.