Modulight receives new order in quantum technology
Summary
- Modulight announced a significant order worth 1.1 MUSD (~1 MEUR) from a new American quantum computing customer, which supports growth forecasts and may lead to updated estimates.
- This is Modulight's second order in quantum technology, following a 0.8 MEUR order in early 2025, indicating growing interest in their solutions within the sector.
- The order is substantial relative to Modulight's scale, with expected full-year 2026 revenue at 7.2 MEUR and potential growth to 9.8 MEUR next year.
- Additional orders are possible before summer 2027, contingent on successful qualification, which could enhance revenue growth prospects for 2027.
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Translation: Original published in Finnish on 11/05/2026 at 07:10 am EET
Modulight announced on Wednesday, it has received an order worth 1.1 MUSD (~1 MEUR) from a new American quantum computing customer. The order is relatively large given the company's current scale, and contributes to our growth forecasts. The news brings moderate upward pressure to our estimates, which we will update in the near future
Second announced order in quantum technology
According to the press release, the order concerns testing and validation phase units (qualification units) intended for the customer's quantum computing systems. Already in early 2025, the company received an order worth 0.8 MEUR for quantum computing-related prototypes. The newly received order is from a new customer, which is an encouraging sign that Modulight's solutions are generating broader interest in this rapidly developing sector. The company's vertical integration enables the customization of lasers and supply chain reliability, which appears to act as a competitive advantage in quantum technology as well.
The prospect of additional orders brings potential for next year
The order worth ~1.0 MEUR is large by Modulight's standards, as we expect the company's full-year 2026 revenue to be 7.2 MEUR and grow to 9.8 MEUR next year. Modulight says additional orders are possible before the summer of 2027, provided that the qualification of the units now ordered is successful and the project progresses. Although there are always risks associated with the qualification phase of new technology, success and the expansion of the customer relationship would create good conditions for revenue growth in 2027.