Forensic Analysis · Technology / Software · as of Sep 16, 2026

Quantum X Labs Inc. (QXL)

A forensic read on Quantum X Labs Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

F · Poor — capital at risk

Forensic grade

Distress

Financial health

-15.9

Distress distance

Watch

Earnings quality

Forensic signals

-386.6%

ROE

-99.8%

Revenue growth

The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Quantum X Labs Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -15.9, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 4 forensic signals were flagged in its latest SEC filings, led by stock-based comp load.

What the filings flag

119% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 119% of revenue in FY2025 — about $0.01 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 10.2% a year and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.

2526d DSO

FY2024→FY2025

Receivables vs revenue. Days sales outstanding moved from 81 to 2526 days FY2024→FY2025 (receivables -43% vs revenue -100%). Receivables are creeping up relative to sales. Across FY2021–FY2025 the day count ran 66 → 71 → 74 → 81 → 2526 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in.

n/m (stock split)

FY2022–FY2025

Share count (stock split). Diluted share count changed -44% over the last 3 years to FY2025, but that includes a large one-time change around FY2023 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -17.4%/yr figure isn't a real buyback/dilution read here.

$13M

FY2023–FY2024

Goodwill impairments. Took $13M of goodwill writedowns across 2 years (FY2023 ($5M), FY2024 ($8M)). Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$63,000.00

Revenue Growth YoY-99.8%

Net Margin-30611.1%

Return on Equity-386.6%

Debt / Equity0.27x

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Data from SEC EDGAR public filings · metrics as of Sep 16, 2026. Forensic signals flag probability, not certainty.