Horizon Quantum Computing Pte. (NASDAQ:HQ) Announces Earnings Results

Horizon Quantum Computing Pte. (NASDAQ:HQ) posted its earnings results on Tuesday. The quantum computing company reported ($0.13) earnings per share for the quarter, Zacks reports.

Here are the key takeaways from Horizon Quantum Computing Pte.’s conference call:

• Technical milestones advanced with Beryllium, Horizon Quantum’s object-oriented programming language, entering early access and its Ember-1 superconducting testbed opening to initial external users.
• The company reported $113.3 million in cash and cash equivalents at quarter-end after warrant exercises generated approximately $27.5 million in gross proceeds, extending its financial runway and supporting further R&D investment.
• Horizon Quantum established an internal applications team targeting three high-value industry problems and plans to use AI-driven research agents to accelerate development toward practical quantum advantage; management described this as a long-term effort rather than a near-term revenue initiative.
• The company remains pre-revenue and reported a $115.2 million net loss, including a $108.3 million non-cash warrant-liability remeasurement charge. Operating expenses rose to $7.2 million, while adjusted EBITDA loss increased to $5.5 million, and management expects near-term expenses to remain around current levels.

Horizon Quantum Computing Pte. Price Performance

NASDAQ HQ traded down $0.75 on Wednesday, reaching $14.50. 41,894 shares of the stock were exchanged, compared to its average volume of 514,680. Horizon Quantum Computing Pte. has a one year low of $8.29 and a one year high of $45.00. The firm has a market cap of $747.88 million, a price-to-earnings ratio of -7.40 and a beta of 0.31. The firm’s 50-day moving average price is $18.89.

Wall Street Analyst Weigh In

Several research firms have recently commented on HQ. Needham & Company LLC assumed coverage on shares of Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price target for the company. Weiss Ratings raised shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen upgraded shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Horizon Quantum Computing Pte. Company Profile

Horizon Quantum Holdings Ltd. is a quantum software infrastructure company focused on tools and systems that help developers build and deploy quantum applications. The company emphasizes software, algorithms, and workflow infrastructure intended to support practical quantum and hybrid quantum-classical use cases.

Horizon Quantum became a public company through its business combination with dMY Squared Technology Group, Inc (DMYY), which was formed to take a private company public through a business combination.