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

Horizon Quantum Computing Pte. (NASDAQ:HQ) released 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. Stock Up 9.5%

Horizon Quantum Computing Pte. stock opened at $15.10 on Tuesday. The company has a market capitalization of $778.81 million, a P/E ratio of -7.56 and a beta of 0.31. Horizon Quantum Computing Pte. has a 12 month low of $8.29 and a 12 month high of $45.00. The company has a 50-day moving average price of $18.82.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Needham & Company LLC initiated coverage on shares of Horizon Quantum Computing Pte. in a report on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 target price on the stock. Finally, Wall Street Zen raised shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Horizon Quantum Computing Pte. currently has a consensus rating of “Hold” and a consensus target price 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.