Horizon Quantum Announces Third Quarter 2026 Financial Results
Business Wire•10/11/2026•07:00 ET
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Key Highlights
- ➤Q3 net income $33.4 million, or $0.61 per share, included a $43.1 million non-cash gain
- ➤Q3 operating loss widened to $10.5 million from $4.9 million year over year
- ➤Cash ended Q3 2026 at $102.8 million, down $10.5 million sequentially
- ➤Entropica acquisition LOI anticipates $27 million consideration in Horizon Quantum Class A shares
- ➤100-qubit characterization experiments fell from approximately 5,000 to 7, a more than 700-fold reduction
Expert Statements
Dr. Joe Fitzsimons, CEO and Founder of Horizon Quantum
“During the third quarter of 2026, as part of our ongoing collaboration with OQC, we successfully completed the pulse-level integration of Triple Alpha with their 32 qubit Toshiko quantum processing unit, a further milestone in our aim of tightly integrating our software infrastructure with a variety of hardware platforms. We also announced that we have implemented our proprietary techniques for multiplexed characterization on a processor with greater than 100 qubits for the first time, enabling more efficient, scalable QPU characterization,”
Dr. Joe Fitzsimons, CEO and Founder of Horizon Quantum
“In addition we recently signed a non-binding letter of intent to acquire Entropica Labs Pte. Ltd, a Singapore-based quantum computing company, who specialise in error correction and fault tolerance. We look forward to exploring this opportunity further.”
Horizon Quantum Announces Third Quarter 2026 Financial Results
Horizon Quantum Holdings Ltd. (Nasdaq: HQ) (“Horizon Quantum,” “Horizon,” or “the Company”), a pioneer of software infrastructure for quantum applications, today reported financial results for the fiscal third quarter ended September 30, 2026 (“Q3 2026”).
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