Creotech Quantum S.A.
Company Overview
Creotech Quantum S.A. is a Polish deep-tech company focused on advanced electronics and complete technology systems for quantum technologies and demanding scientific and industrial applications. The company develops quantum key distribution systems, control and measurement systems for quantum and laboratory infrastructure, White Rabbit precise time-synchronization systems, MTCA systems, Sinara ecosystem solutions, and advanced cameras for astronomy and research laboratories.
Business Segments
- Quantum Key Distribution (QKD) Systems – secure communication systems for terrestrial and space-related applications
- Sinara Ecosystem / ARTIQ – control systems for quantum processors and laboratory infrastructure
- MTCA Systems – modular control and measurement electronics for scientific and industrial applications
- White Rabbit – precise time-synchronization systems for applications requiring ultra-accurate timing
- Advanced Cameras with sCMOS Sensors – cameras for astronomy, laboratories, and advanced research applications
Key Drivers
- European and national funding for quantum technologies and secure communication infrastructure
- Growing demand for quantum-safe communication in government, defense, telecom, finance, and critical infrastructure
- Commercialization of QKD systems and industrial-grade time-synchronization solutions
- Participation in European initiatives such as Quantum Flagship and EuroQCI
- Expansion of relationships with scientific and industrial partners such as CERN, ESA, DESY, and GSI
Key Risks
- Early-stage commercialization risk in quantum technologies
- Dependence on public grants, European programs, and research-driven demand
- Long and uncertain sales cycles in scientific, government, defense, and critical infrastructure markets
- Technology execution risk in QKD, quantum-control electronics, and advanced timing systems
- Competition from larger international quantum, photonics, telecom, and scientific-instrumentation companies
What to Watch
- New contracts for QKD, White Rabbit, MTCA, Sinara, and scientific camera systems
- Progress in EuroQCI, Quantum Flagship, and other European quantum infrastructure programs
- Evidence of recurring or repeat commercial orders beyond R&D projects
- Grant funding, strategic partnerships, and customer diversification
- Revenue growth and margin profile after the spin-off as a standalone public company
Foundational Analysis
Business Model
Creotech Quantum generates revenue from the design, manufacture, integration, and delivery of advanced electronics and complete technology systems for quantum, scientific, industrial, and critical-infrastructure applications. The model is likely project-driven at the current stage, with potential future scalability from repeatable product lines such as QKD systems, White Rabbit timing equipment, MTCA systems, Sinara-based control electronics, and advanced scientific cameras.
Competitive Positioning
Specialized European deep-tech company with credibility from projects and relationships in the scientific and institutional ecosystem. Its position is supported by experience with CERN, ESA, DESY, GSI, Quantum Flagship, and EuroQCI-related initiatives. The key challenge is converting technical credibility and R&D references into scalable commercial revenue.
Economics & Capital Allocation
Deep-tech hardware and systems business with meaningful engineering intensity, R&D requirements, and project execution risk. Near-term profitability may depend on contract mix, grant funding, and the ability to move from bespoke projects toward repeatable product sales. Financial metrics should be validated once standalone post-spin-off reporting history becomes available.
Capital allocation is expected to focus on R&D, product commercialization, engineering capacity, certifications, and access to grant-funded programs. As a newly separated company, external financing and grant eligibility may be important for accelerating development and commercialization.
Long-term Risks
Long-term risks include slow adoption of quantum technologies, delays in public quantum infrastructure programs, loss of technological relevance, inability to scale beyond research customers, dependence on specialized engineering talent, and competitive pressure from larger international quantum and instrumentation players.
What Would Break the Thesis
- Failure to commercialize QKD or quantum-control systems beyond R&D projects
- Material reduction or delay in European quantum infrastructure funding
- Loss of key scientific or institutional customers and partners
- Persistent inability to generate standalone revenue growth after the spin-off
Contracts Intelligence
Currency Note: All amounts in PLN. Foreign currency contracts converted at announcement date rates.
| Contract | 2026 Q2 | 2026 Q3 | 2026 Q4 | 2027 Q1 | 2027 Q2 | Total |
|---|---|---|---|---|---|---|
| Total Revenue per Quarter | - | - | - | - | - | - |
|
Cooperation and Confidentiality Agreement for Joint Development and Commercialisation of FaceCOV ActiveSCAN Smart_Border_4.0 QUANTUM
|
- | - | - | - | - | - |
AI-Generated Revenue Allocation: Revenue allocations follow IFRS 15 principles with AI-derived timing assumptions. Verify with official financial statements.
Financial Performance
Quarterly Data
Click a metric row to chart it below. Click a second row to overlay it on a dual axis; click a selected row again to remove it.
| Metric | 2026Q1 |
|---|---|
| Income Statement Revenue (Quarterly) | 0 |
| Income Statement Gross Profit (Quarterly) | -45.0K |
| Income Statement EBITDA (Quarterly) | -43.0K |
| Income Statement EBIT (Quarterly) | -45.0K |
| Income Statement Net Income (Quarterly) | -44.0K |
| Costs Selling & Distribution Costs | 0 |
| Costs Administrative Expenses | 0 |
| Costs Administrative Expenses (LTM) | 0 |
| Cash Flow Operating Cash Flow | -51.0K |
| Cash Flow Capital Expenditure | 0 |
| Cash Flow Free Cash Flow | -51.0K |
| Cash Flow Depreciation & Amortization | 2.0K |
| LTM Metrics Revenue (LTM) | 0 |
| LTM Metrics EBITDA (LTM) | -43.0K |
| LTM Metrics Net Income (LTM) | -44.0K |
| LTM Metrics Net Profit Attributable (LTM) | -44.0K |
| LTM Metrics Operating Cash Flow (LTM) | -51.0K |
| Profitability Gross Margin | - |
| Profitability EBITDA Margin | - |
| Profitability EBIT Margin | - |
| Profitability Net Margin | - |
| Profitability ROIC | -30.4% |
| Profitability Cash Conversion | 116.0% |
| Balance Sheet Current Assets | 225.0K |
| Balance Sheet Current Liabilities | 211.0K |
| Balance Sheet Inventories | 0 |
| Balance Sheet Trade Receivables | 171.0K |
| Balance Sheet Trade Payables | 38.0K |
| Balance Sheet Total Equity | 36.0K |
| Balance Sheet Total Debt | 153.0K |
| Balance Sheet Cash & Equivalents | 54.0K |
| Balance Sheet Invested Capital | 135.0K |
| Balance Sheet Net Working Capital | 133.0K |
| Ratios Current Ratio | 1.07 |
| Ratios Net Working Capital to Revenue | - |
| Ratios Administrative Expenses as % of Revenue | - |
| Ratios Days Inventory Outstanding (DIO) | - |
| Ratios Days Sales Outstanding (DSO) | - |
| Ratios Days Payables Outstanding (DPO) | - |
| Ratios Cash Conversion Cycle (days) | - |
Revenue (Quarterly) - Visual Analysis
Revenue (Quarterly) (PLN)
Growth Rates (QoQ% and YoY%)
Data Source: Financial data sourced from company filings and periodic reports. Values in PLN. Margins and ratios stored as decimals converted to percentages for display.
Recent News & Developments
Sentiment Analysis (Last 6 Months)
| Positive | 79% |
| Neutral | 14% |
| Negative | 7% |
Based on 14 articles
Creotech Instruments and Thorium Space Forge Strategic Partnership to Advance Satellite Telecommunications
Creotech Instruments S.A. and Thorium Space have announced a strategic partnership aimed at developing advanced satellite telecommunications solutions, including systems for Low-Earth Orbit (LEO). The collaboration, formalized in June, focuses on creating integrated technologies for commercial, institutional, and defense sectors, with a long-term goal of enhancing European technological independence.
Creotech Instruments, known for its expertise in satellite platforms, plans to diversify its market presence by expanding into telecommunications. The company aims to deliver heavier satellites equipped with telecommunication payloads, aligning with Poland's investment in the European IRIS2 secure satellite communication constellation. Thorium Space will contribute its satellite communication technologies and payloads, which will be integrated with Creotech's HyperSat platform.
The partnership includes joint development of technologies, knowledge exchange, and potential collaboration on future European Space Agency initiatives. Both companies are already working on initial projects, with plans to deliver operational satellite missions for commercial and governmental applications in the coming years.
Creotech Instruments CEO Grzegorz Brona emphasized the strategic importance of entering the telecommunications sector, citing its significant growth potential in Europe and Poland. Thorium Space CEO Piotr Mierzejewski highlighted the mutual benefits of the partnership, which aims to accelerate the development of innovative satellite solutions.
Creotech Quantum S.A.'s relevance to this partnership lies in its foundational expertise in advanced engineering solutions, which are critical for developing secure and reliable quantum communication systems and satellite technologies.
Polish Government and Industry Leaders Discuss Local Content Strategy to Strengthen Domestic Economy
In a recent debate organized by PAP Biznes titled “Local Content – How to Build a Domestic Value Chain,” key figures from the Polish government and leading companies discussed strategies to enhance local content in procurement and investment processes. The initiative aims to prioritize Polish competencies, services, and products to bolster the national economy and ensure security in critical sectors such as energy and infrastructure.
Eliza Zeidler, Deputy Minister of State Assets, emphasized the long-term nature of implementing local content strategies, highlighting the importance of collaboration between government and corporate entities. The Ministry of State Assets is finalizing a code of good practices to guide state-owned companies in adopting local content principles.
Industry leaders, including representatives from PGE, Orlen, Tauron Dystrybucja, and Apator, shared insights on challenges and opportunities in integrating local suppliers into their value chains. They stressed the need for stable legislative frameworks, strategic partnerships, and innovative procurement practices to achieve meaningful results. Additionally, concerns were raised about unfair competition from subsidized foreign entities and the importance of verifying the origin and security of technologies used in critical infrastructure.
The Central Statistical Office (GUS) announced plans to launch a pilot program to measure the impact of local content on the economy, focusing on sectors like energy. This initiative aims to develop a comprehensive system for monitoring local content contributions to economic growth and security.
Participants agreed that fostering local content requires a shift in mindset, long-term commitment, and proactive engagement with domestic suppliers to build resilient and secure supply chains.
Relevance to Creotech Quantum S.A.: The discussion aligns with Creotech Quantum S.A.'s focus on critical infrastructure and secure quantum communication technologies, emphasizing the importance of local expertise and innovation in building resilient and secure systems for the quantum economy.
Creotech Quantum S.A. Loses Tender for Quantum Communication Infrastructure Development
In a recent tender for the development of advanced quantum communication infrastructure, Creotech Quantum S.A., a leading Polish company specializing in quantum technologies, was outbid by a competing firm. The tender, which focused on implementing secure quantum communication systems, was awarded to a competitor offering the lowest bid. Creotech Quantum S.A.'s proposal, while technologically robust and aligned with the latest advancements in quantum key distribution (QKD) systems, was ultimately deemed less competitive due to its higher financial offer.
The winning bid, submitted by a rival company, was reportedly lower than Creotech Quantum S.A.'s offer, despite the latter's extensive expertise in delivering cutting-edge solutions such as the Sinara/ARTIQ ecosystem, MTCA systems, and White Rabbit synchronization technology. This marks a setback for Creotech Quantum S.A., which has been at the forefront of developing foundational technologies for the quantum economy.
This development is particularly relevant to Creotech Quantum S.A.'s business profile, as it underscores the competitive nature of the quantum technology sector and the challenges faced by even the most innovative companies in securing key projects. The outcome highlights the importance of balancing technological excellence with cost competitiveness in the rapidly evolving quantum industry.
Creotech Quantum S.A. Secures Approval for Series D Shares on Warsaw Stock Exchange
Warsaw-based Creotech Quantum S.A., a leading innovator in quantum technologies and advanced engineering solutions, has announced that the Management Board of the Warsaw Stock Exchange (GPW) has approved the admission and introduction of the company’s Series D ordinary bearer shares to trading on the main market. The decision, formalized under Resolution No. 759/2026, allows for the registration of 350,000 Series D shares in the securities depository managed by Krajowy Depozyt Papierów Wartościowych (KDPW). The shares are set to commence trading on June 3, 2026, contingent upon their registration and assignment of the ISIN code PLCTHQM00034 by KDPW by the same date.
This development marks a significant milestone for Creotech Quantum S.A., as it continues to expand its presence in the global quantum economy. The company specializes in cutting-edge technologies, including quantum processor control systems, ultra-precise time synchronization solutions, and quantum communication security systems, positioning itself as a key player in the rapidly evolving quantum technology sector.
Relevance: The listing of Series D shares on the Warsaw Stock Exchange aligns with Creotech Quantum S.A.'s strategic growth objectives, providing the company with enhanced access to capital markets to further its advancements in quantum infrastructure and secure communication technologies.
Creotech Quantum S.A. Raises PLN 81.2 Million in Series D Private Share Offering
Warsaw-based Creotech Quantum S.A., a leading innovator in quantum technologies and advanced engineering solutions, has successfully completed a private subscription offering of Series D ordinary bearer shares. The offering, conducted between May 15 and May 22, 2026, resulted in the issuance of 350,000 shares at an issue price of PLN 232 per share, raising a total of PLN 81.2 million.
The subscription was carried out under the company’s authorized capital increase, as approved by resolutions passed on May 8 and May 14, 2026. A total of 61 investors participated in the offering, with all 350,000 shares being fully subscribed and paid for in cash. The company has yet to disclose the final costs associated with the issuance, which will be detailed in a subsequent report.
The newly issued shares are set to be listed on the Warsaw Stock Exchange, further solidifying Creotech Quantum S.A.’s position in the market as it continues to develop cutting-edge technologies for the quantum economy, including quantum communication, processor control systems, and advanced measurement instruments.
Relevance to Creotech Quantum S.A.: This capital increase aligns with Creotech Quantum S.A.’s mission to expand its capabilities in delivering foundational technologies for the quantum infrastructure sector, supporting its growth and innovation in the global quantum economy.
Creotech Quantum S.A. Registers Series D Shares for Trading on Warsaw Stock Exchange
Warsaw-based Creotech Quantum S.A. has announced the registration of 350,000 rights to Series D ordinary bearer shares (PDA) in the securities depository maintained by the National Depository for Securities (KDPW). The shares have been assigned the ISIN code PLCTHQM00034. The registration is contingent upon the approval of the shares for trading on the regulated main market of the Warsaw Stock Exchange (GPW). According to KDPW's statement, the registration will be finalized within three days of receiving the decision to admit the shares for trading.
This development marks a significant step for Creotech Quantum S.A. as it continues to expand its presence in the financial markets, supporting its mission to advance cutting-edge technologies in quantum infrastructure and secure communication systems.
Creotech Quantum S.A. Announces Statutory Changes and Capital Increase to Support Future Growth
Warsaw-based Creotech Quantum S.A., a leading innovator in quantum technologies and advanced engineering solutions, has announced significant changes to its corporate structure following the registration of amendments to its Articles of Association by the District Court for the Capital City of Warsaw on May 27, 2026. These changes, approved during the Extraordinary General Meeting on January 21, 2026, include the issuance of Series A subscription warrants, a conditional increase in share capital through the issuance of Series C ordinary bearer shares, and the application for the admission of Series C shares to trading on the regulated market operated by the Warsaw Stock Exchange.
The conditional share capital increase, capped at PLN 21,407.70, will allow for the issuance of up to 214,077 Series C shares at a nominal value of PLN 0.10 each. These shares will be allocated to holders of Series A subscription warrants, with the right to exercise this option until December 31, 2030. Additionally, the company has updated its Articles of Association to reflect new financial thresholds, including a requirement for board approval for obligations exceeding PLN 1,000,000. The company also announced a change in its registered address to ul. Migdałowa 4, 02-796 Warsaw.
These developments underscore Creotech Quantum S.A.'s commitment to scaling its operations and securing its position as a key player in the rapidly growing quantum economy.
Relevance: The statutory changes and capital increase align with Creotech Quantum S.A.'s strategic focus on developing cutting-edge quantum technologies and expanding its global footprint in the quantum infrastructure sector.
Creotech Quantum S.A. Secures PLN 81.2 Million Through Series D Share Offering
Creotech Quantum S.A., a leading Polish innovator in quantum technologies and advanced engineering solutions, has successfully raised PLN 81.2 million through the issuance of 350,000 Series D ordinary shares. The shares, priced at PLN 232 each, were fully subscribed and paid for by investors. The total nominal value of the shares amounts to PLN 35,000. The company’s management has announced plans to register the new shares with the National Depository for Securities (KDPW) and seek their listing on the Warsaw Stock Exchange (GPW) following the registration of the increased share capital by the registry court.
This development marks a significant milestone for Creotech Quantum S.A., as the funds raised will likely support its ongoing efforts to advance foundational technologies for quantum infrastructure, including quantum processors, secure quantum communication, and other cutting-edge solutions in the quantum economy.
Creotech Quantum S.A. Partners with Milton Essex S.A. to Develop Quantum-Encrypted Biometric Border Control System
On May 15, 2026, Milton Essex S.A. announced the signing of a cooperation and confidentiality agreement with Creotech Quantum S.A. to jointly develop a hardware and software platform for the commercialization of the FaceCOV ActiveSCAN Smart_Border_4.0 QUANTUM system. This innovative solution is designed for field border control and critical infrastructure security, leveraging Creotech Quantum's advanced quantum encryption technology, specifically its Quantum Key Distribution (QKD) system.
The agreement outlines mutual interest in commercializing Creotech Quantum's hardware encryption tools and integrating them with Milton Essex's biometric gateway technology. Additionally, the collaboration includes the possibility of jointly applying for grants and research and development programs. Intellectual property rights for solutions developed under the partnership will be determined in separate agreements.
This strategic partnership highlights Creotech Quantum S.A.'s commitment to expanding its quantum technology applications into critical security sectors, aligning with its expertise in secure quantum communication and foundational quantum infrastructure development.
Creotech Quantum S.A. Announces Ordinary General Meeting to Address Financial Reports and Governance Matters
Creotech Quantum S.A., a leading Polish innovator in quantum technologies, has scheduled its Ordinary General Meeting (OGM) for June 12, 2026, at its headquarters in Warsaw. The agenda includes the presentation and approval of the company's financial report for the fiscal year ending December 31, 2025, which revealed a net loss of PLN 70,327.59. The loss is attributed to initial operational costs during the company's establishment phase. The meeting will also address governance matters, including the approval of the management and supervisory board's activities, the decision to cover the loss with future profits, and the evaluation of the remuneration report for board members. Additionally, the company will discuss granting discharge to board members for their duties performed in 2025.
The meeting will provide shareholders with an opportunity to review the company's financial performance and governance practices, ensuring transparency and accountability. The full documentation and agenda are available on the company's official website.
Relevance to Creotech Quantum S.A.: This announcement highlights Creotech Quantum's commitment to maintaining transparency and addressing financial and governance matters, aligning with its profile as a key player in the quantum economy and critical infrastructure sector.
2026 EPS Estimates
- Delayed quantum market adoption, weak conversion of R&D projects into commercial contracts, dependence on grants, cost overruns, or stronger-than-expected competition from larger international players
- No reliable standalone EPS estimate provided
- Base case depends on gradual commercialization of QKD, White Rabbit, MTCA, Sinara, and advanced camera systems, supported by European quantum funding and institutional demand
- Successful commercialization of QKD and timing systems, strong participation in European quantum infrastructure programs, repeat orders from scientific and industrial customers, and improved scalability of standardized product lines
Note: EPS estimates are for informational purposes only and represent our analytical framework, not investment recommendations. These financial results estimates are based on stated assumptions and may change as new information becomes available.
Key Metrics
Company-specific performance indicators tailored to Creotech Quantum S.A.'s business model.
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Data Source: Key metrics are extracted from company disclosures, periodic reports, and management commentary.
Periodic Report Publication Calendar
No report publication schedule available yet for this company.