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TOTAL PLAY ANNOUNCES 16% GROWTH IN EBITDA IN THE SECOND QUARTER OF 2024 TO AN ALL-TIME HIGH OF Ps.5,096 MILLION

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2 years ago

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—Capex for the quarter was equivalent to 23.9% of the company’s revenue, compared to Capex equivalent of 40.3% of revenue a year ago—

 —EBITDA balance, less Capex and interest, reached a record level of Ps. 926 million in the period—

MEXICO CITY, July 25, 2024 /PRNewswire/ — Total Play Telecomunicaciones, S.A.P.I. de C.V. (“Total Play”), a leading telecommunications company in Mexico, which offers internet access, pay television and telephony services, through one of the largest 100% fiber optic networks in the country, announced today financial results for the second quarter of 2024.

“Total Play’s firm subscriber base moderation strategy, strict financial discipline, and initiatives that strengthen our operational efficiency, significantly boosted profitability and cash generation this quarter. EBITDA grew double-digit, reaching a record level of Ps.5,096 million, while EBITDA margin increased by two percentage points to 46%,” commented Eduardo Kuri, CEO of Total Play. “Capex for the quarter was Ps.2,668 million, equivalent to 23.9% of the company’s revenue. This, along with increasing profitability, significantly improved our cash generation — defined as EBITDA less Capex and interest paid — to the highest level in Total Play’s history.”

“On the balance sheet, the solid growth in cash flow significantly boosted our liquidity. Additionally, we amortized bank loans and Cebures equivalent to Ps. 2,182 million in the period, which contributed to reducing the balance of short-term debt with cost by 30% and to further strengthen Total Play’s capital structure,” added Mr. Kuri.

Second quarter results 

Revenue for the quarter was Ps.11,150 million, 13% above the Ps.9,867 million for the same period of the previous year. Total costs and expenses were Ps.6,054 million, compared to Ps.5,490 million of the previous year.

As a result, Total Play’s EBITDA grew 16% to Ps. 5,096 million, up from Ps. 4,377 million a year ago. The EBITDA margin for the quarter was 46%, compared to 44% in the same quarter of 2023. The company recorded operating income of Ps. 889 million, compared to Ps. 300 million a year ago.

Total Play reported net loss of Ps.3,733 million, from a loss of Ps.310 million in the same quarter of 2023.

   Q2 2023 

   Q2 2024 

  Change 

Ps. 

%

Revenue from services 

$9,867

$11,150

$1,283

13 %

EBITDA  

$4,377

$5,096

$719

16 %

Operating income

$300

$889

$589

—-

Net result 

$(310)

$(3,733)

$(3,423)

—-

Amounts in millions of pesos.
EBITDA: Earnings before interest, depreciation, and amortization.

Service revenue

The company’s revenue grew 13%, as a result of an 8% increase in sales in the residential segment and a 45% increase in revenues from the enterprise business.

Totalplay Residencial’s revenue growth to Ps. 9,196 million, compared to Ps. 8,521 million a year earlier, relates to a 9% increase in the number of subscribers to the company’s services, compared to the same quarter a year ago, to reach 5,009,091 this period, including 69,001 small and medium-sized businesses. The company considers that the number of users reached this quarter reflects its remarkable capacity to offer technologically advanced internet services — with superior stability and speed — continuous innovation in its entertainment platform, and an excellent service.

Compared to the previous quarter, the number of net additions grew by 101,702 users, in line with Total Play’s strategy of moderating its subscriber base growth.

Average revenue per subscriber (ARPU) for the quarter was Ps.612, compared to Ps.615 a year ago.

As previously announced, the company’s geographic coverage investment program was completed during the first quarter of 2023. Accordingly, the number of homes passed in Mexico at the end of this period was 17,590,606, a figure with minor variations compared to 17,503,742 a year ago.

Penetration — the proportion of homes passed by Total Play that have the company’s telecommunications services — was 28.5% at the end of the quarter, up from 26.2% a year ago.

The enterprise segment’s revenue was Ps.1,954 million, up from Ps.1,346 million in the previous year, due to the launch of various organizations´ projects in recent months.

Costs and expenses

Total costs and expenses increased 10%, as a result of a 15% increase in service costs and an 8% increase in general expenses.

The increase in costs to Ps. 2,187 million from Ps. 1,902 million in the previous year is primarily due to higher costs associated with business projects, links, and memberships. This increase was partially offset by lower content and licensing costs.

The increase in expenses to Ps. 3,867 million, from Ps. 3,588 million, reflects higher maintenance and fees expenses, in the context of the company’s growing operations. This increase was partially offset by reductions in advertising and personnel expenses, resulting from strategies that generate solid operating efficiencies.

EBITDA and net result

Total Play’s EBITDA was Ps.5,096 million, 16% higher compared to Ps.4,377 million of the previous year.

Relevant variations below EBITDA were the following:

An increase of Ps.130 million in depreciation and amortization mainly due to user acquisition costs, including telecommunications equipment, labor, and installation expenses.

An increase of Ps.582 million in changes in the fair value of financial instruments, largely due to the recording of the remaining expenses associated with the issuance of the company’s Senior Notes due in 2025, as a result of the 90% exchange of these notes with the new Senior Notes with final maturity in 2028, as previously announced.

An increase of Ps.209 million in interest expense consistent with the financial debt balance variation, attributable to the exchange rate depreciation effect on dollar-denominated debt this quarter, as well as higher debt costs.

A foreign exchange loss of Ps. 2,473 million this period, compared to a gain of Ps. 1,619 million a year ago, resulted from a net liability monetary position in foreign currency and the depreciation of the peso against the basket of currencies in which the company’s monetary liabilities are denominated this quarter. This contrasts with the exchange rate appreciation experienced in the previous year.

Total Play reported a net loss of Ps.3,733 million, compared to a loss of Ps.310 million in the same period of 2023.

Balance sheet

As of June 30, 2024, the Company’s debt with cost was Ps.52,919 million, compared to Ps.47,684 million in the previous year. The increase shows the effect of exchange rate depreciation on dollar-denominated debt.

Lease liabilities were Ps.5,210 million, 24% lower compared to Ps.6,868 million of the previous year.

Cash and cash equivalents, plus restricted cash held in trusts, totaled Ps. 5,225 million, a 23% increase from Ps. 4,249 million a year ago. Consequently, the company’s net debt was Ps. 52,904 million, compared to Ps. 50,303 million a year ago.

The debt ratio — Net Debt / EBITDA for the last two annualized quarters — was 2.62 times, as a result of solid EBITDA growth, together with greater relative stability of the net debt balance.

Consistent with the strategy to extend Total Play’s debt profile — in line with the company’s cash generation — the balance of short-term debt with cost was reduced by 30% to Ps.4,212 million, from Ps.5,994 million a year ago.

Total Play’s fixed assets — including accumulated investments in fiber optics, telecommunications equipment, subscriber acquisition costs, and other assets — was Ps.61,775 million, compared to Ps. 59,912 million a year ago.

Six months results

Revenue for the first six months of 2024 was Ps.22,237 million, 13% higher from Ps.19,694 million the previous year. This growth was driven by a 37% increase in enterprise revenues and a 9% growth in residential revenues. Total costs and expenses rose 12% to Ps.12,154 million from Ps.10,883 million, due to a 10% increase in general expenses and a 15% increase in service costs.

Total Play reported EBITDA of Ps.10,083 million, a 14% increase from Ps.8,811 million the previous year. The EBITDA margin for the period was 45%. Operating income reached Ps.1,724 million, up from Ps.892 million in the same period of 2023.

The company recorded a net loss of Ps.4,897 million, compared to a profit of Ps.6 million a year ago.

   6M 2023

   6M 2024

   Change

Ps.

%

Revenue from services

$19,694

$22,237

$2,543

13 %

EBITDA      

$8,811

$10,083

$1,272

14 %

Operating income

$892

$1,724

$832

93 %

Net result     

$6

$(4,897)

$(4,903)

—-

Amounts in millions of pesos.
EBITDA: Earnings before interest, depreciation, and amortization.

About Total Play

Total Play is a leading Triple Play provider in Mexico that, thanks to the widest direct-to-home fiber optic network in the country, offers entertainment and technologically advanced services with the highest quality and speed in the market. For the latest news and updates about Total Play, visit: www.totalplay.com.mx.

Total Play is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community well-being; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. Each of the Grupo Salinas companies operates independently, with its own management, board of directors, and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values, and strategies for achieving rapid growth, superior results, and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Total Play and its subsidiaries are presented in documents sent to the securities authorities.

Investor Relations:

Bruno Rangel

Rolando Villarreal

+ 52 (55) 1720 9167

+ 52 (55) 1720 9167

jrangelk@totalplay.com.mx

rvillarreal@totalplay.com.mx

Press Relations:

Luciano Pascoe

Tel. +52 (55) 1720 1313 ext. 36553

lpascoe@gruposalinas.com.mx

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I.  DE C.V. AND SUBSIDIARIES

CONSOLIDATED QUARTERLY INCOME STATEMENTS

(Millions of Mexican pesos)

2Q23

2Q24

Change

$

%

$

%

$

%

Revenue from services

9,867

100 %

11,150

100 %

1,283

13 %

Cost of services

(1,902)

(19 %)

(2,187)

(20 %)

(285)

(15 %)

Gross profit

7,965

81 %

8,963

80 %

998

13 %

General expenses

(3,588)

(36 %)

(3,867)

(35 %)

(279)

(8 %)

EBITDA

4,377

44 %

5,096

46 %

719

16 %

Depreciation and amortization

(4,077)

(41 %)

(4,207)

(38 %)

(130)

(3 %)

Operating profit 

300

3 %

889

8 %

589

196 %

Financial cost:

Interest revenue

39

0 %

74

1 %

35

90 %

Change in fair value of financial instruments

(135)

(1 %)

(717)

(6 %)

(582)

n.m. 

Accrued interest expense

(1,356)

(14 %)

(1,565)

(14 %)

(209)

(15 %)

Other financial expenses

(108)

(1 %)

100

1 %

208

193 %

Foreign exchange gain (loss) – Net

1,619

16 %

(2,473)

(22 %)

(4,092)

n.m. 

59

1 %

(4,581)

(41 %)

(4,640)

n.m. 

Equity interest in net results of non-controlling entities

(18)

(0 %)

–

0 %

18

100 %

Profit (Loss) before income tax provisions

341

3 %

(3,692)

(33 %)

(4,033)

n.m. 

Income tax provision

(651)

(7 %)

(41)

(0 %)

610

94 %

Net loss for the period

(310)

(3 %)

(3,733)

(33 %)

(3,423)

n.m. 

 

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED ACCUMULATED INCOME STATEMENTS

(Millions of Mexican pesos)

Accumulated

Accumulated

6M23

6M24

Change

$

%

$

%

$

%

Revenue from services

19,694

100 %

22,237

100 %

2,543

13 %

Cost of services

(3,910)

(20 %)

(4,482)

(20 %)

(572)

(15 %)

Gross profit

15,784

80 %

17,755

80 %

1,971

12 %

General expenses

(6,973)

(35 %)

(7,672)

(35 %)

(699)

(10 %)

EBITDA

8,811

45 %

10,083

45 %

1,272

14 %

Depreciation and amortization

(7,919)

(40 %)

(8,359)

(38 %)

(440)

(6 %)

Operating profit

892

5 %

1,724

8 %

832

93 %

Financial cost:

Interest revenue

90

0 %

143

1 %

53

59 %

Change in fair value of financial instruments

(324)

(2 %)

(1,014)

(5 %)

(690)

n.m. 

Accrued interest expense

(2,682)

(14 %)

(3,042)

(14 %)

(360)

(13 %)

Other financial expenses

(220)

(1 %)

59

0 %

279

127 %

Foreign exchange gain (loss) – Net

3,471

18 %

(2,063)

(9 %)

(5,534)

(159 %)

335

2 %

(5,917)

(27 %)

(6,252)

n.m. 

Equity interest in net results of non-controlling entities

(19)

(0 %)

–

0 %

(19)

(100 %)

Profit (Loss) before income tax provisions

1,208

6 %

(4,193)

(19 %)

(5,401)

n.m. 

Income tax provision

(1,202)

(6 %)

(704)

(3 %)

(498)

(41 %)

Net Profit (Loss) for the period

6

0 %

(4,897)

(22 %)

(4,903)

n.m. 

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Millions of Mexican pesos)

As of Jun 30,

2023

2024

Change

$

%

$

%

$

%

Assets

CURRENT ASSETS

Cash and cash equivalents

1,290

2 %

2,728

3 %

1,438

111 %

Restricted cash in trusts

2,959

4 %

2,497

3 %

(462)

(16 %)

Customers – net

4,563

5 %

4,869

6 %

306

7 %

Other accounts receivable

146

0 %

168

0 %

22

15 %

Recoverable taxes

3,975

5 %

4,057

5 %

82

2 %

Related parties

247

0 %

312

0 %

65

26 %

Inventories

2,489

3 %

2,581

3 %

92

4 %

Prepaid expenses

595

1 %

729

1 %

134

23 %

Total current assets

16,264

19 %

17,941

21 %

1,677

10 %

NON-CURRENT ASSETS

Related parties

222

0 %

257

0 %

35

16 %

Property, plant and equipmente – Net

59,912

71 %

61,775

71 %

1,863

3 %

Rights-of-use assets -Net

6,064

7 %

4,129

5 %

(1,935)

(32 %)

Trademarks and other assets

1,423

2 %

2,473

3 %

1,050

74 %

Total non-current assets

67,621

81 %

68,634

79 %

1,013

1 %

Total assets

83,885

100 %

86,575

100 %

2,690

3 %

Liabilities and Stockholders’ Equity

SHORT-TERM LIABILITIES

Financial debt

5,994

7 %

4,212

5 %

(1,782)

(30 %)

Lease liabilities

2,319

3 %

2,604

3 %

285

12 %

Trade payables

12,603

15 %

16,401

19 %

3,798

30 %

Reverse factoring

2,606

3 %

1,452

2 %

(1,154)

(44 %)

Other payables and payable taxes

1,910

2 %

1,901

2 %

(9)

(0 %)

Related parties

777

1 %

1,268

1 %

491

63 %

Liabilities from contracts with customers

665

1 %

601

1 %

(64)

(10 %)

Interest payable

359

0 %

226

0 %

(133)

(37 %)

Derivative financial instruments

187

0 %

48

0 %

(139)

(74 %)

Total short-term liabilities

27,420

33 %

28,713

33 %

1,293

5 %

LONG-TERM LIABILITIES

Financial debt

41,690

50 %

48,707

56 %

7,017

17 %

Lease liabilities

4,549

5 %

2,606

3 %

(1,943)

(43 %)

Derivative financial instruments

2,169

3 %

–

0 %

(2,169)

(100 %)

Employee benefits

46

0 %

92

0 %

46

100 %

Deferred income tax

3,557

4 %

6,259

7 %

2,702

76 %

Total long-term liabilities

52,011

62 %

57,664

67 %

5,653

11 %

Total liabilities

79,431

95 %

86,377

100 %

6,946

9 %

STOCKHOLDERS’ EQUITY

4,454

5 %

198

0 %

(4,256)

(96 %)

Total liabilities and stockholders’ equity

83,885

100 %

86,575

100 %

2,690

3 %

 

 

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Millions of Mexican pesos)

6th months period ended

Jun 30,

2023

2024

Operating activities:

Profit (Loss) before income tax provision

1,208

(4,193)

Items not requiring the use of resources:

Depreciation and amortization

7,919

8,359

Employee benefits

(3)

18

Items related to investing or financing activities:

Accrued interest income

(90)

(143)

Accrued interest expense and other financial transactions

3,238

4,115

Unrealized foreign exchange gain

(3,540)

2,268

Effect per conversion

19

–

8,751

10,424

Resources (used in) generated by operating activities:

Customers and unearned revenue

622

(836)

Other receivables

90

14

Related parties, net

316

291

Taxes to be recovered

(165)

84

Inventories

(147)

345

Advance payments

313

(200)

Trade payables

1,905

2,578

Other payables

(527)

(24)

Cash flows generated by operating activities

11,158

12,676

Investing activities: 

Acquisition of property, plant and equipment

(8,076)

(5,961)

Other assets

(75)

(390)

Collected interest

90

143

Cash flows (used in) investing activities

(8,061)

(6,208)

Financing activities:

Equity contributions

–

700

Loans received

1,475

(1,267)

Leasing cash flows

(1,303)

(1,217)

Restricted Cash in Trusts

(971)

880

Reverse factoring

(85)

(782)

Derivative financial instruments

(267)

(1,475)

Interest payment

(2,546)

(2,956)

Cahs flows used in financing activities

(3,697)

(6,117)

Net increase (decrease) in cash and cash equivalents

(600)

351

Cash and cash equivalents at the beginning of the year 

1,890

2,377

Cash and cash equivalents at the end of the year 

1,290

2,728

 

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SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.

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11:11 Systems Announces Strategic Partnership with Cato Networks to Deliver SASE Solution for Distributed Enterprises

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New Managed Secure Access Service Edge (SASE) solution combines SD-WAN, cloud-native networking and security capabilities with 11:11’s connectivity, cyber resilience and cloud expertise

SYDNEY, July 22, 2026 /PRNewswire/ — 11:11 Systems, a leading managed infrastructure solutions provider, today announced the global availability of its 11:11 Managed Secure Access Service Edge (SASE) solution and a new strategic partnership with Cato Networks.

11:11 Managed SASE is a fully managed secure connectivity solution leveraging Cato Networks AI-native network security platform. This solution brings together intelligent SD-WAN, cloud-delivered security and global connectivity into a single offering. It enables organisations to simplify and secure access across branch offices, data centres, users and cloud environments, reducing complexity without sacrificing performance or control.

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“Enterprises are under pressure to support users, applications and locations that are more distributed than ever, while limiting complexity and improving security,” said Justin Giardina, CTO, 11:11 Systems. “Our Managed SASE solution provides customers with a unified approach to modernising networking and security, along with the visibility, support and flexibility they need to thrive in a rapidly changing environment.”

According to Karl Soderlund, global channel chief, Cato Networks, “As enterprises move beyond fragmented legacy networking and security stacks, they need a simpler way to gain visibility, context and control across hybrid work environments and reduce the operational burden on IT. Through our partnership, we can address these challenges head on and deliver end-to-end visibility and protection in a single service built for the reality of modern work.”

The joint offering is well suited for distributed enterprises, multi-site organisations, hybrid workforce initiatives, SD-WAN refreshes, security modernisation efforts and businesses with limited IT resources. 11:11 meets customers where they are by supporting existing environments, simplifying multi-vendor operations and serving as a single provider accountable for network, security, cloud and data integration.

This partnership expands 11:11’s Network as a Service portfolio and follows Forrester’s inclusion of 11:11 Systems in its report, “The Secure Access Service Edge Services Landscape, Q1 2026.”

About 11:11 Systems

11:11 Systems is a managed infrastructure solutions provider that empowers customers to modernise, protect and manage mission-critical applications and data, leveraging 11:11’s resilient cloud platform. Learn more at www.1111Systems.com and follow 11:11 on LinkedIn.

View original content:https://www.prnewswire.com/apac/news-releases/1111-systems-announces-strategic-partnership-with-cato-networks-to-deliver-sase-solution-for-distributed-enterprises-302830322.html

SOURCE 11:11 Systems

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NEW YORK, July 21, 2026 /PRNewswire/ — Crowell & Moring has added Cristina Diaz, former executive director and general counsel of UBS Bank USA, and most recently head of legal for UBS’s U.S. Remediation Management Office, to the firm’s Financial Services Group as senior counsel in New York. Diaz brings more than two decades of in-house counsel and law firm experience in bank regulation, compliance, and risk management.

At Crowell, Diaz will counsel banks, fintechs, and digital assets companies on a broad range of bank regulatory matters, including charters and licensing, permissible activities, capital requirements, regulatory enforcement, M&A, and corporate governance. She will also counsel clients navigating the intersection of traditional banking and emerging financial services, including digital assets companies seeking to acquire or establish national banks, and banks exploring partnerships with fintechs and digital assets firms.

At UBS, Diaz advised on the firm’s most pressing regulatory matters, including most recently UBS Bank USA’s charter conversion from a Utah industrial bank to an OCC national bank and key compliance remediations. This work gave Diaz extensive experience navigating relationships with state and federal financial regulators. Earlier in her career, Diaz spent eight years at Davis Polk & Wardwell advising U.S. and foreign banks on bank regulatory matters, M&A, and capital markets transactions.

“Cristina is a highly experienced, solution-oriented attorney who brings deep knowledge in the bank regulatory space. She will be an enormous asset to the firm’s growing regulatory and transactional offerings to banks, digital assets businesses, and fintechs,” said Carlton Greene, Co-Chair of Crowell’s Financial Services Group.

“I am delighted to join Crowell & Moring and integrate my bank regulatory experience with the firm’s nationally-recognized digital assets practice. As traditional banking and emerging financial technologies continue to evolve, clients need actionable and sophisticated legal counsel. Crowell offers the collaborative platform to help institutions successfully execute their growth and compliance strategies,” said Diaz.

Diaz received her J.D. from New York University School of Law, where she was a member of the New York University Law Review, and received her B.A., summa cum laude, from New York University. She is fluent in Spanish.

About Crowell & Moring LLP
Crowell & Moring is an international law firm with operations in the United States, Europe, and MENA. Drawing on significant government, business, industry, and legal experience, the firm helps clients capitalize on opportunities and provides creative solutions to complex regulatory and policy, litigation, transactional, and intellectual property issues. The firm is consistently recognized for its commitment to pro bono service, as well as its comprehensive programs and initiatives to advance the professional and personal development of all members of the Crowell community.

Media Contact:
Email: prteam@crowell.com

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SOURCE Crowell & Moring LLP

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July 21, 2026

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The companies have published a joint white paper mapping commercially relevant quantum computing use cases in quantum chemistry and graph analytics to Quantinuum’s hardware roadmap.The paper provides a framework for assessing how advances in quantum hardware and algorithms, could affect when practical industrial applications become feasible.SoftBank Corp. and Quantinuum will use the roadmap to inform their exploration of future quantum AI data center services and related business models.

TOKYO and BROOMFIELD, Colo., July 22, 2026 /PRNewswire/ — Quantinuum (NASDAQ: QNT) and SoftBank Corp. (“SoftBank”) today announced the publication of “Quantum Computing Frontiers,” a joint white paper that maps two commercially-relevant quantum computing application areas against Quantinuum’s hardware roadmap. The analysis examines how advances in quantum hardware and algorithms could affect when these applications become practical for industrial use.

The paper focuses on two representative application domains that SoftBank is actively using Quantinuum’s systems to research: quantum chemistry for new materials discovery and energy research, and topological data analysis for large-scale graph analytics, including for telecommunications fraud detection. The authors anchor their assessment of the scalability of these two application areas against Quantinuum’s published hardware roadmap, examining how projected advances in hardware capabilities and algorithms may enable the commercial readiness of future industrial applications.

Building on this use-case roadmap, the paper also examines how quantum computing, AI, and high-performance computing could be integrated into future computing infrastructure. It considers how progress across successive hardware generations could inform future quantum AI data center services and related business models, a key focus of the Quantinuum and SoftBank partnership announced last year.

“The key takeaway of this study is that organizations do not need to wait for large-scale, fault-tolerant systems to explore where quantum computing can begin creating value,” said Duncan Jones, General Manager, Applications Group at Quantinuum. “By using today’s systems to develop, benchmark and refine applications in areas such as quantum chemistry and graph analytics, enterprises can build the technical and operational readiness needed for the next era of quantum-enabled computing.”

“The question is no longer whether quantum computing may deliver value, but rather which problem classes become executable at which stage of hardware maturity,” said Ryuji Wakikawa, Senior Vice President & CTO at SoftBank Corp. “However, we believe progress in hardware must be complemented by equally strong developments in quantum algorithms and the integration of quantum systems with AI and high-performance computing.”

The white paper discusses illustrative scenarios describing how representative applications, technology maturity, and potential market opportunities may evolve over time under stated assumptions. The analysis provided in the paper is intended to provide a conceptual framework for understanding potential market evolution and does not represent financial guidance or forecasts. These analyses are intended to support discussion of future technology development and should not be interpreted as commitments regarding commercialization, infrastructure investment, products, services, or financial performance.

The full white paper is available to download on the SoftBank and Quantinuum websites.

About SoftBank Corp.

Guided by the SoftBank Group’s corporate philosophy, “Information Revolution – Happiness for everyone,” SoftBank Corp. (TOKYO: 9434) operates telecommunications and IT businesses in Japan and globally. Building on its strong business foundation, SoftBank Corp. is aiming to activate the potential of AI across its businesses and drive implementation in line with its “Activate AI for Society” growth strategy. While further growing its telecom business, SoftBank is expanding its AI computing infrastructure and AI and Cloud service businesses with the aim of becoming a provider of Next-generation Social Infrastructure. To learn more, please visit https://www.softbank.jp/en/corp/

About Quantinuum

Quantinuum (NASDAQ: QNT) is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry’s highest accuracy levels based on average two-qubit gate fidelity.[1] Quantinuum has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets. The company has a global workforce of approximately 700 employees, including top scientists and researchers. Over 70% of its technology team holds PhDs or Master’s degrees. Quantinuum’s headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore.

For more information, please visit www.quantinuum.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. Such statements are based on certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. New factors emerge from time to time, and it is not possible for Quantinuum to predict all such factors. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Quantinuum does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

 

[1] As of December 31, 2025.

SOURCE Quantinuum

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