
Arqit Quantum Inc. is downgraded to 'sell' due to disappointing FY26 results and persistent operational risks. ARQQ's FY26 revenue reached $975k–$1M, missing guidance and showing sequential declines in H2, raising concerns about growth reliability. With a 247x sales multiple, high stock-based compensation, and a shrinking customer base, ARQQ's valuation appears excessive and vulnerable.










