QUANTUM X LABS INC.

For the period ended Mar 31, 2026. Filed May 14, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 14, 2026

QXL$3.31-2.1%Stored close · as of Nov 10, 2026

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Contents

Interim Condensed Consolidated Statements of Cash Flows (unaudited)

	For the three months ended March 31,
	2026	2025
Cash flows from Operating Activities of Continuing Operations
Net loss	605	3,844
Less: net loss from discontinued operations	-	880
Net loss from continuing operations	605	2,964
Adjustments to reconcile net loss from continuing operations to net cash provided by operating activities:
Depreciation and amortizations	224	173
Share-based compensation	-	-
Deferred taxes	(28)	(8)
Accrued interest, net	25	(19)
Interest income	-	(38)
Amortization of loan discounts	-	22
Change in the fair value of financial liabilities at fair value through profit or loss (see note 8)	-	2,723
Amortization of deferred debt issuance costs (see notes 7.D, 7.E, 7.F)	4	68
Changes in assets and liabilities items:
Decrease (increase) in accounts receivable	(40)	121
Increase in other current assets	(36)	(53)
Decrease in accounts payable	(194)	(111)
Increase in other payables	46	277
Net cash provided by (used in) operating activities from continuing operations	(604)	191

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INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Cont.)

	For the three months ended March 31,
	2026	2025
Cash flows from Investing Activities of Continuing Operations
Net cash from acquisition of subsidiaries (see appendix A and note 6.B)	193	12
Net cash used in investing activities from continuing operations	193	12
Cash flows from Financing Activities of Continuing Operations
Receipt of short-term bank loans	7	2,029
Repayment of short-term bank loans	-	(1,565)
Repayment of long-term bank loans	(196)	(658)
Change in loan to former parent company	-	6
Proceeds from issuance of shares and warrants in connection with the 2026 Private Placement (see note 10.D)	1,400	-
Net cash provided by (used in) financing activities from continuing operations	1,211	(188)
Cash flows of Discontinued Operations
Net cash used in operating activities from discontinued operations	-	(600)
Net cash used in investing activities from discontinued operations	-	-
Net cash provided by financing activities from discontinued operations	-	143
Net cash used in discontinued operations	-	(457)
Increase in cash and cash equivalents and restricted cash	800	15
Cash and cash equivalents and restricted cash at beginning of period	1,038	54
Cash and cash equivalents and restricted cash at end of period	1,838	69
Supplemental Disclosure of Cash Flow Activities:
Cash paid during the period
Taxes paid	2	1
Interest paid	34	120
Total Cash paid during the period	36	121
Substantial non-cash activities:
Issuance costs payable in connection with the 2026 Private Placement (see note 10.D)	70	-
Issuance of warrants in connection with the 2026 Private Placement (see note 10.D)	34	-
Classification of Earn-out liability to Earn-out payable (see note 8)	67	-

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INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Cont.)

Appendix A:

Consolidation of Quantum Israel (see note 6.C):
Net working capital other than cash and restricted deposits	211
Property and equipment	9
Goodwill	14,326
In-process research and development, net of deferred taxes	1,232
Non-controlling interests	(79)
Total consideration	(15,892)
Balance as of March 4, 2026	(193)

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