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BTQ Technologies (BTQ) AI Stock Analysis

TSE:BTQ

BTQ Technologies

(NEO-L:BTQ)

Select Model
Rating:43Neutral
Price Target:CAD 0.09â–¼(-3.33% Downside)
Action:reiterated
Date:08/17/26

The score is primarily held down by weak financial performance—zero/unstable revenue, widening losses, and ongoing cash burn—despite modest leverage on the balance sheet. Technical signals are neutral-to-weak with flat moving averages and slightly negative momentum. Valuation is constrained by negative earnings (negative P/E) and no stated dividend yield.

Positive Factors
Low Financial LeverageModest debt relative to equity gives BTQ some financial flexibility while it develops its technology portfolio. This durable cushion can reduce financing stress, although it does not offset the need to convert research assets into recurring commercial revenue.
Negative Factors
No Recurring Revenue ScaleZero TTM revenue and prior declines indicate that BTQ has not yet established a dependable commercial revenue base. This limits visibility into demand, weakens operating leverage, and leaves future funding dependent on successful productization, partnerships, or capital raising.

BTQ Technologies (BTQ) vs. iShares MSCI Canada ETF (EWC)

-5%0%5%10%15%20%25%30%TSE:BTQ0.00%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
CAD 407.41M
Dividend Yield
―
Average Volume (3M)
―
Price to Earnings (P/E)
-6.8
Beta (1Y)
―
Revenue Growth
-100.00%
EPS Growth
-675.76%
Country
Canada
Employees
38
Sector
General
Sector Strength
55
Industry
Software - Infrastructure

BTQ Technologies Business Overview & Revenue Model

Company Description

BTQ Technologies Corp. is dedicated to creating advanced computing technology focused on post-quantum cryptography, primarily for its application within blockchain and related digital systems. The company's product suite features: PQScale: A scaling...

How the Company Makes Money

Publicly verifiable, detailed information on BTQ Technologies’ current revenue model and material revenue streams is null. In general terms consistent with the company’s stated focus, BTQ would be expected to monetize through one or more of the follo...

BTQ Technologies Financial Statement Overview

Summary

Overall fundamentals are weak. Income statement quality is poor with revenue extremely small/volatile and falling to zero in TTM alongside widening operating and net losses. Cash flow remains persistently negative with expanding operating and free cash flow burn. The main offset is a relatively stronger balance sheet with modest debt versus equity, but ongoing losses create capital erosion risk.

Income Statement

12Very Negative

Balance Sheet

62Positive

Cash Flow

18Very Negative
Financial statement breakdown
BreakdownTTMMar 2026Dec 2024Mar 2024Jan 2023
Income Statement
Total Revenue0315.50K666.67K00
Gross Profit-218.15K104.61K666.67K-761.46K0
EBITDA-58.95M-24.60M-5.91M-15.21M-643.81K
Net Income-57.52M-24.61M-6.08M-15.40M-1.16M
Balance Sheet
Total Assets24.52M33.79M9.73M4.04M7.27M
Cash, Cash Equivalents and Short-Term Investments9.79M21.00M9.34M3.44M7.24M
Total Debt1.08M0033.55K0
Total Liabilities6.58M2.18M1.79M983.24K468.77K
Stockholders Equity17.94M31.61M7.94M3.05M6.80M
Cash Flow
Free Cash Flow-25.45M-15.03M-4.97M-6.96M-223.34K
Operating Cash Flow-25.32M-15.01M-4.70M-6.95M-223.34K
Investing Cash Flow-11.88M-11.07M330.08K745.96K0
Financing Cash Flow40.95M37.69M10.84M7.00M7.20M

BTQ Technologies Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TSE:BTQ against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TSE:PLURTSE:PLUR51NeutralCAD 20.79M-3.07112.09%―-32.68%70.60%
TSE:NBVATSE:NBVA43NeutralCAD 11.23M-12.45-23.17%―-5.63%-0.79%
TSE:BTQTSE:BTQ43NeutralCAD 7.87M-6.76-207.31%―-100.00%-675.76%
TSE:FOBITSE:FOBI42NeutralCAD 7.34M-4.7643.17%―――
TSE:MTLOTSE:MTLO41NeutralCAD 2.92M-0.2870.08%―-15.68%-47.54%

* General Sector Average

Performance Comparison

-60%-40%-20%0%20%TSE:BTQTSE:NBVATSE:MTLOTSE:FOBITSE:PLURDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
TSE:BTQ and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:BTQBTQ Technologies Corp.0.090.000.00%
TSE:NBVANubeva Tech0.16-0.09-36.00%
TSE:MTLOMartello Technologies Group0.010.000.00%
TSE:FOBIFobi Ai Inc0.03-0.01-25.00%
TSE:PLURPlurilock Security Inc0.18-0.04-17.78%

BTQ Technologies Corporate Events

Business Operations and StrategyFinancial DisclosuresM&A Transactions

BTQ Technologies Accelerates Commercial Rollout of Trusted Quantum Platform in Q2 2026

Positive
Aug 14, 2026

BTQ Technologies reported a Q2 2026 update that underscores its shift from validating quantum security technologies to commercial execution across its trusted quantum platform. The company completed the acquisition of QPerfect, expanded customer enga...

Business Operations and StrategyShareholder Meetings

BTQ Technologies Shareholders Back Board, Auditor and Equity Plan at 2026 AGM

Positive
Aug 14, 2026

BTQ Technologies reported the voting results of its 2026 annual general meeting in Vancouver, confirming that shareholders fixed the board size at five directors and elected all management nominees by wide margins. The high approval rates underscore...

Business Operations and StrategyFinancial DisclosuresShareholder Meetings

BTQ Technologies Schedules Shareholder Webinar on Q2 2026 Results and Corporate Update

Positive
Aug 11, 2026

BTQ Technologies Corp. will host a live shareholder webinar on August 14, 2026, to discuss its second‑quarter 2026 financial results and provide a general corporate update.The call is scheduled for 12:00 p.m. Eastern Time and will follow the re...

Business Operations and StrategyProduct-Related Announcements

BTQ Hits Key Milestone in Quantum-Era Cryptography Chip Program

Positive
Aug 7, 2026

BTQ Technologies has completed the first milestone in its multi-year collaboration with Taiwan’s Industrial Technology Research Institute to validate its Quantum Compute-in-Memory architecture for post-quantum cryptography. The work is part of...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 17, 2026