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

Horizon Quantum Computing Pte. (NASDAQ:HQ) announced its quarterly 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%

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on HQ shares. Needham & Company LLC assumed coverage on 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. Wall Street Zen upgraded shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, Weiss Ratings upgraded shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently 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.