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

Horizon Quantum Computing Pte. (NASDAQ:HQ) issued its quarterly earnings data on Tuesday. The quantum computing company reported ($0.09) earnings per share (EPS) for the quarter, Zacks reports.

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

• Horizon raised capital via its business combination and PIPE and ended Q1 with $96.6 million in cash, while headcount grew to 52 FTEs—management says this provides runway and staffing to execute the roadmap.
• The company deepened hardware relationships (Alice & Bob, AQT), operates an in?house testbed (Ember One), and secured a 256?qubit IonQ trapped?ion system expected to be installed in 2027 to accelerate multimodal integration.
• Significant software progress: Horizon advanced its stack (Hydrogen, Helium) and expanded features/stability of previewed Beryllium, aiming to automate compilation of classical code to quantum algorithms and tighten runtime?level hardware integration via Triple Alpha.
• Costs and losses widened in Q1—operating expenses were $6.5M, net loss $3.6M and Adjusted EBITDA loss $4.1M—driven by aggressive hiring and higher operating cash use of $4.2M for the quarter.

Horizon Quantum Computing Pte. Stock Performance

Horizon Quantum Computing Pte. stock traded down $0.24 during midday trading on Tuesday, hitting $9.81. 42,814 shares of the stock were exchanged, compared to its average volume of 149,437. Horizon Quantum Computing Pte. has a 52-week low of $8.29 and a 52-week high of $14.22. The stock has a market cap of $506.21 million, a PE ratio of -3.11 and a beta of 0.46.

Analysts Set New Price Targets

Separately, Weiss Ratings assumed coverage on shares of Horizon Quantum Computing Pte. in a report on Tuesday, April 21st. They set a “sell (e-)” rating for the company. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

About Horizon Quantum Computing Pte.

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.