Xanadu Quantum Technologies Ltd. says it is focused on its long-term growth while its stock experiences extreme volatility in the short term. Its stock fell over nine per cent on Friday, following an over 60 per cent drop two weeks ago. The Toronto-based company, which builds universal photonic quantum computers, reported its inaugural first-quarter earnings on Thursday. It posted a revenue of US$2.8 million but reported a net loss of US$20.6 million, or US$0.28 per share. Regardless, things are going exactly as they should, says Christian Weedbrook, founder and CEO of Xanadu. “We’ve always taken a long-term view here at Xanadu… we try very hard not to look at the stock price, really thinking years ahead,” he says. “Revenue is not our main driver here.” He says the stock’s sharp drop is a technical side effect of having very few tradable shares and the typical volatility of de-SPAC companies, rather than a sign that major investors are quitting. “The more float we have, the more stable the stock will be,” says Weedbrook. Xanadu Quantum Technologies went public nearly two months ago in a dual listing, where it began trading simultaneously on both the Nasdaq in New York and the Toronto Stock Exchange under the ticker symbol XNDU. It was the first pure-play photonic quantum computing company to be listed on both exchanges. Since then, the stock has experienced extreme volatility. It skyrocketed from approximately US$11 to US$44 by mid-April. The surge was largely triggered by Nvidia’s release of the “Ising” quantum AI models. This ignited speculative interest across the entire quantum sector, as Xanadu’s error-correction technology is highly compatible with Nvidia’s new tools. “I think we’ll see more and more of these things over the coming years, these blips that drive the stock price up. And that’s a function of