Business Wire·Nov 10, 2026, 7:00 AM ET

Horizon Quantum Announces Third Quarter 2026 Financial Results

Horizon Quantum Holdings Ltd. reported financial results for the fiscal third quarter ended September 30, 2026.
The company announced successful pulse-level integration of its Triple Alpha software with Oxford Quantum Circuits' 32-qubit Toshiko quantum processing unit.
Horizon Quantum signed a non-binding letter of intent to acquire Entropica Labs, a Singapore-based quantum computing firm specializing in error correction, for an anticipated $27 million in Class A ordinary shares.
The company implemented proprietary multiplexed characterization protocols on a processor with over 100 qubits, reducing the number of experiments needed for ZZ crosstalk characterization by more than 700-fold compared to traditional methods.
Total operating expenses for Q3 2026 were $10.5 million, an increase from $4.9 million in Q3 2025, driven by higher research and development headcount and costs associated with transitioning to a public company.
Net income for Q3 2026 was $33.4 million ($0.61 per share), compared to a net loss of $5.2 million ($0.13 per share) in Q3 2025, primarily due to a $43.1 million non-cash gain from the remeasurement of warrant-related derivative liabilities.
Adjusted EBITDA for Q3 2026 was a loss of $6.3 million, widening from a loss of $3.0 million in the prior year period.
Cash and cash equivalents totaled $102.8 million at the end of Q3 2026, representing a net decrease of $10.5 million from the previous quarter.
Research and development expenses increased 122% year-over-year to $4.5 million, while general and administrative expenses rose 127% to $5.2 million.
The company held a conference call on November 10, 2026, to discuss the third-quarter results, with a live broadcast and archive available at its investor relations website.