Defense Tech Signals · Capital vs. Contracts Open-source analysis · public data only Data as of Nov 8, 2026 · obligations refresh every other Monday
NatSec100 #11

PsiQuantum

Recipient: PSIQUANTUM, CORP. · UEI MH73K3SV59R5

About $11 raised for every $1 obligated. 85% of it came through Other Transactions (OTs).

Capital raised
$2.4B
Federal obligations, FY2020–FY2026
$217.3M
Raised per $1 obligated
10.8×
Latest valuation
$7.0B
Series E, Sep 2025

Obligations by fiscal year

$M
0 FY20 0 FY21 22.5 FY22 4.4 FY23 8.3 FY24 57.1 FY25 125.0 FY26

Prime contracts Other Transactions Subawards

Contract mix

Prime contracts
$33.3M
Other Transactions
$183.8M
Subawards
$0.2M

Cite this: Defense Tech Signals, "Capital vs. Contracts: PsiQuantum," data as of 2026-11-08, https://data.defensetechsignals.com/c/psiquantum/.

Coverage: prime contracts, IDVs and grants (USAspending), direct Other Transactions (FPDS) and subawards received, FY2020–FY2026. Not included: consortium OTs, FY 2027 so far, loans and classified work. Capital raised: Compiled from announcements and press (Oct 2026). Obligations last refreshed 11/5/2026.