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 ($0.13) EPS 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

HQ stock traded down $0.24 during mid-day trading on Thursday, hitting $14.79. The stock had a trading volume of 55,623 shares, compared to its average volume of 511,288. The stock’s fifty day moving average is $18.95. The stock has a market capitalization of $762.61 million, a price-to-earnings ratio of -7.54 and a beta of 0.30. Horizon Quantum Computing Pte. has a 52 week low of $8.29 and a 52 week high of $45.00.

Analysts Set New Price Targets

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

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.