Horizon Quantum Holdings (HQ), a Singapore-based quantum software company, reported its first update since becoming a public stock. The quantum software firm posted a net loss of $3.6 million, or $0.09 per share. That was better than a loss of $4.8 million, or $0.12 per share, in Q1 2025. The market reacted positively to the report, with HQ shares rising over 8% in pre-market trading.
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Still, the report showed that Horizon is spending more as it builds out its tech base. Total costs rose 38% from last year to $6.5 million. The main driver was a 79% rise in staff, along with new costs tied to being a public firm. Adjusted EBITDA loss also grew to $4.1 million from $1.8 million last year, which shows that the core loss is still wide.
Revenue was still very small, at close to $50,000. As a result, Horizon is still in a buildout phase, not a sales growth phase. Even so, the firm ended the quarter with $96.6 million in cash and cash-like assets. That gives it room to keep funding its plan for the next stage of growth.
Horizon Bets on Quantum Software and Hardware Access
Horizon is building a software layer that can work across many types of quantum chips. Its main product is Triple Alpha, a tool made to help coders build quantum apps with less need to tailor each task to one type of hardware. The firm also kept work going on Beryllium, its own code tool for quantum apps.
At the same time, Horizon is adding more hardware to test its software. The firm reached a deal with IonQ Inc. (IONQ) to buy a 256-qubit trapped ion quantum system. It also formed ties with Alice & Bob and Alpine Quantum Technologies. These moves are meant to help Horizon test its tools across multiple quantum setup types.
CEO and founder Dr. Joe Fitzsimons said the firm sees quantum tech moving closer to a key shift. He said, “Rapid advancement in quantum computing hardware coupled with recent breakthroughs in error correction may suggest the field is reaching an inflection point.” He also said the SPAC deal gave Horizon the “financial runway required to support our strategic priorities for the foreseeable future.”
For now, the key point for investors is simple. Horizon has a clear plan, a strong cash pile, and a role in one of the most-watched tech fields. However, it also has very low sales and rising losses. That means the stock is still more of a long-term quantum bet than a near-term growth story.
Risk Overview
Risk Overview shows that Horizon’s risk profile is heavily concentrated in Finance & Corporate issues, which account for 79% of total risks and sit above the sector average, while all other risk areas remain much lower.
