QTEX · QTREX Quantum Ltd.
QTREX Quantum Ltd., engages in the research, development, manufacturing, and marketing of proprietary life support technologies for the treatment of acute respiratory failure and advanced connectivity solutions for the quantum computing industry in Israel and USA. It offers INSPIRA ART100, a life support system used in procedures requiring cardiopulmonary bypass for six hours or less. It also offers HYLA blood sensor, which is designed to perform real-time sampling and analysis of key blood parameter measurements. In addition, The company offers cryogenic interconnects systems are generally built from multiple discrete components assembled and verified in a manual process. It also develops a monolithic interconnect architecture that integrates the conductor, radio-frequency dielectric, shielding, thermal management, and mechanical routing into a single engineered structure, designed to replace discrete, manually assembled cabling and support higher channel density and reliability. In addition, It offers AME Platform, provides the manufacturing foundation for our quantum connectivity development efforts and also operates as a commercial business serving customers across aerospace, missile, defense, and advanced electronics sectors. The company was formerly known as Inspira Technologies Oxy B.H.N. Ltd. and changed its name to QTREX Quantum Ltd. in May 2026. QTREX Quantum Ltd. was incorporated in 2018 and is headquartered in Ra'anana, Israel.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $0.68 |
| SO | 35.9M |
| Options | 0.4M |
| Warrants | — |
| FD SO | 36.3M |
| MC | $24.7M |
| Cash | $3.2M |
| Total debt | — |
| EV | $21.6M |
| TTM Multiples | |
|---|---|
| EV / Revenue | — |
| EV / EBITDA | — |
| MC / Net Income | — |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 11.5% |
| Insiders | 8.3% |
| # Institutions | 30 |
| Analysts | 1 |
| Consensus | — |
| Avg target | $5.00 |
| Short % float | 5.8% |
| Days to cover | 1.31 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2025-12-31. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-09-30 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-09-15; the float denominator can be unreliable on tiny floats.
This filer tags no warrant count, so FD SO counts it as zero and understates dilution — treat FD SO, MC and EV as a floor. (XBRL reports nothing both for a filer that has none and for one that simply doesn't tag them.)
Financial statements
No quarterly data available.
| 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|
| Total Revenue | 0.29 | 0.00 | 0.00 | — |
| Cost of Revenue | 0.29 | 0.00 | 0.00 | — |
| Gross Profit | 0.00 | — | — | — |
| Gross Margin % | 0.7% | — | — | — |
| SG&A | 6.12 | 4.94 | 4.81 | 6.70 |
| R&D | 7.50 | 6.32 | 7.32 | 8.18 |
| Operating Expense | 13.62 | — | — | — |
| Operating Income | (13.62) | (11.27) | (12.13) | (14.89) |
| Operating Income YoY % | (20.9%) | 7.1% | 18.5% | — |
| Operating Margin % | (4713.8%) | — | — | — |
| EBITDA | (13.47) | (11.10) | (12.02) | (14.84) |
| EBITDA Margin % | (4661.9%) | — | — | — |
| Interest Expense | — | — | 1.16 | — |
| Other Income / (Expense) | — | — | 2.01 | — |
| Pretax Income | (13.22) | (11.05) | (11.29) | (14.98) |
| Tax Provision | 0.00 | 0.00 | 0.00 | — |
| Net Income | (13.22) | (11.05) | (11.29) | (14.98) |
| Net Margin % | (4574.4%) | — | — | — |
| Diluted EPS | -$0.45 | -$0.60 | -$0.93 | -$1.39 |
| Basic EPS | -$0.45 | -$0.60 | -$0.93 | -$1.39 |
| Diluted Avg Shares | 29.6 | 18.5 | 12.1 | 10.8 |
| Basic Avg Shares | 29.6 | 18.5 | 12.1 | 10.8 |
No quarterly data available.
| 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|
| Cash & Equivalents | 3.16 | 5.11 | 5.04 | 6.78 |
| Short-term Investments | — | 0.70 | 2.30 | 7.10 |
| Inventory | 0.73 | 0.44 | — | — |
| Other Current Assets | 0.52 | 0.56 | — | 0.61 |
| Total Current Assets | 4.41 | 6.81 | 7.79 | 14.49 |
| Net PPE | 0.45 | 0.50 | 0.51 | 0.41 |
| Operating Lease ROU | 0.48 | 0.76 | 1.01 | 1.26 |
| Total Assets | 5.34 | 8.07 | 9.31 | 16.17 |
| Current Lease Liabilities | 0.29 | 0.28 | 0.29 | 0.27 |
| Other Current Liabilities | 2.54 | 3.09 | 2.69 | 1.39 |
| Total Current Liabilities | 2.82 | 3.37 | 2.98 | 1.66 |
| Long-term Lease Liabilities | 0.19 | 0.38 | 0.59 | 0.87 |
| Total Liabilities | 3.02 | 3.75 | 3.57 | 2.54 |
| Total Equity | 2.32 | 4.32 | 5.74 | 13.63 |
| 6M 6/30/25 | 6M 6/30/24 | 6M 6/30/23 | 6M 6/30/21 | |
|---|---|---|---|---|
| Net Income | (6.40) | (6.24) | (6.18) | (8.29) |
| D&A | 0.07 | 0.07 | 0.03 | — |
| Stock-Based Comp | 1.84 | 1.03 | 1.02 | — |
| Δ Working Cap & Other | (0.60) | 0.28 | 0.35 | — |
| Operating Cash Flow | (5.09) | (4.87) | (4.80) | — |
| CapEx | (0.10) | (0.00) | (0.20) | — |
| Other Investing | 0.67 | (1.39) | 1.54 | — |
| Investing Cash Flow | 0.57 | (1.39) | 1.34 | — |
| Stock Issuance | 3.08 | — | — | — |
| Other Financing | (1.56) | 4.75 | — | — |
| Financing Cash Flow | 1.52 | 4.75 | — | — |
| Effect of FX on Cash | 0.02 | 0.01 | — | — |
| Free Cash Flow | (5.19) | (4.87) | (5.00) | — |
Year-to-date columns, not discrete quarters — this filer reports its cash flow statement cumulatively from the start of the fiscal year and has not published two interim periods within one year that could be subtracted to isolate a quarter. Each column's span is in its heading.
| 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|
| Net Income | (13.22) | (11.05) | (11.29) | (14.98) |
| D&A | 0.15 | 0.17 | 0.11 | 0.05 |
| Stock-Based Comp | 3.58 | 1.89 | 1.43 | 4.88 |
| Δ Working Cap & Other | (0.37) | (0.38) | 0.06 | 0.83 |
| Operating Cash Flow | (9.86) | (9.37) | (9.69) | (9.21) |
| CapEx | (0.10) | (0.16) | (0.21) | (0.26) |
| Other Investing | 0.67 | 1.65 | 4.80 | (7.12) |
| Investing Cash Flow | 0.56 | 1.49 | 4.59 | (7.38) |
| Stock Issuance | 4.65 | 0.00 | 0.03 | — |
| Other Financing | 2.68 | 7.90 | 3.43 | — |
| Financing Cash Flow | 7.33 | 7.90 | 3.45 | — |
| Effect of FX on Cash | 0.03 | 0.06 | (0.07) | (0.44) |
| Free Cash Flow | (9.96) | (9.54) | (9.90) | (9.47) |
No quarterly data available.
| 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|
| Current Ratio | 1.56 | 2.02 | 2.61 | 8.72 |
| Quick Ratio | 1.30 | 1.89 | — | — |
| Debt / Equity | — | — | — | — |
| EBITDA Margin % | (4661.9%) | — | — | — |
| Working Capital | 1.59 | 3.44 | 4.81 | 12.83 |
| Net Debt | — | — | — | — |
| ROE % | (569.1%) | (255.7%) | (196.7%) | (109.9%) |
| ROA % | (247.5%) | (137.0%) | (121.2%) | (92.6%) |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-09-29 | Ben-Noon Dagi Shahar | Director, Officer (Chief Executive Officer) | 2026-09-28 | P | 168,894 | $0.71 | $119,543 |
| 2026-09-29 | Ben-Noon Dagi Shahar | Director, Officer (Chief Executive Officer) | 2026-08-28 | A | 550,000 | — | $0 |
| 2026-09-01 | Parnes Tal | Director | 2026-08-28 | A | 550,000 | — | $0 |
| 2026-09-01 | Matza Sivan | Director | 2026-08-28 | A | 100,000 | — | $0 |
| 2026-09-01 | Amit Lior | Director | 2026-08-28 | A | 170,000 | — | $0 |
| 2026-09-01 | Ben-Noon Dagi Shahar | Director, Officer (Chief Executive Officer) | 2026-08-28 | A | 550,000 | — | $0 |
| 2026-07-15 | shabtay abraham | Officer (COO) | 2026-07-06 | A | 550,000 | — | $0 |
| 2026-07-14 | Rozanovich Yoav | Officer (Chief Business Officer) | 2026-07-06 | A | 550,000 | — | $0 |
| 2026-07-14 | Yechezkely Hayon Daniella | Officer (Chief Technology Officer) | 2026-07-06 | A | 550,000 | — | $0 |
| 2026-07-14 | Tehila Yafit | Officer (Chief Financial Officer) | 2026-07-06 | A | 550,000 | — | $0 |
| 2026-06-02 | Tehila Yafit | Officer (Chief Financial Officer) | 2026-06-01 | S | (28,100) | $3.50 | -$98,350 |
| 2026-06-02 | Yechezkely Hayon Daniella | Officer (Chief Technology Officer) | 2026-05-29 | S | (50,000) | $3.00 | -$150,000 |
| 2026-06-02 | Tehila Yafit | Officer (Chief Financial Officer) | 2026-05-29 | S | (1,900) | $3.51 | -$6,669 |
| 2026-06-02 | shabtay abraham | Officer (COO and VP of R&D) | 2026-05-29 | M | 95,239 | $3.37 | $320,955 |
| 2026-06-02 | shabtay abraham | Officer (COO and VP of R&D) | 2026-05-29 | M | (57,144) | — | $-0 |
| 2026-06-02 | shabtay abraham | Officer (COO and VP of R&D) | 2026-05-29 | M | (38,095) | — | $-0 |
| 2026-05-29 | Tehila Yafit | Officer (Chief Financial Officer) | 2026-05-28 | S | (15,000) | $2.56 | -$38,400 |
| 2026-05-29 | Tehila Yafit | Officer (Chief Financial Officer) | 2026-05-28 | S | (15,000) | $3.00 | -$45,000 |
| 2026-05-29 | Tehila Yafit | Officer (Chief Financial Officer) | 2026-05-28 | M | (13,605) | — | $-0 |
| 2026-05-29 | Tehila Yafit | Officer (Chief Financial Officer) | 2026-05-27 | M | 13,605 | $0.12 | $1,633 |
| 2026-05-29 | Tehila Yafit | Officer (Chief Financial Officer) | 2026-05-27 | S | (13,605) | $2.03 | -$27,551 |
| 2026-05-29 | Tehila Yafit | Officer (Chief Financial Officer) | 2026-05-27 | S | (16,395) | $2.01 | -$33,010 |