Dashboard chart not sorting chronologically on a formula

On my Production board I have a ‘Renewal Date’ column.

On my production board I also have a formula which calculates the renewal quarter:

CONCATENATE(

“Q”,

ROUNDUP(MONTH({Renewal Date}) / 3, 0),

" ",

YEAR({Renewal Date})

)

On my dashboard bar chart I have the X axis set to this forumla column and have chosed to sort ascending.

RESULT: My chart is showing the following bars:

Q1 2026

Q2 2026

Q3 2026

Q4 2025

Q4 2026

So it looks like it is still sorting alphabetically instead of chronologically (ascending) based on my fornula column.

A I missing something here?

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