Horizon Quantum Reports Q3 2026 Financial Results

Insider Brief

• Horizon Quantum reported Q3 2026 net income of $33.4 million, including a $43.1 million non-cash gain from the remeasurement of warrant-related derivative liabilities, while its operating loss widened to $10.5 million.
• The company reported an adjusted EBITDA loss of $6.3 million, compared with $3 million in Q3 2025, and ended the quarter with $102.8 million in cash and cash equivalents.
• Business developments included pulse-level integration with OQC’s 32-qubit Toshiko processor, multiplexed characterisation on a processor with more than 100 qubits, and a non-binding agreement to acquire Singapore-based Entropica Labs for an anticipated $27 million in shares.

PRESS RELEASE — 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”).

Third Quarter 2026 Financial and Business Highlights (all figures approximate and presented in USD):

• Horizon Quantum and Oxford Quantum Circuits (“OQC”) announce successful pulse-level integration.
• Horizon Quantum signed a non-binding letter of intent to acquire Entropica Labs.
• Horizon Quantum announces the development and implementation of protocols for performing efficient characterization of large quantum processors.
• Operating loss for Q3 2026 on an as-reported basis of $10.5 million compared to $4.9 million for the third fiscal quarter ended September 30, 2025 (“Q3 2025”).
• Net Income for Q3 2026 on an as-reported basis of $33.4 million, or $0.61 per ordinary share, compared to a loss of $5.2 million in Q3 2025, or $0.13 per ordinary share in Q3 of 2025. The Q3 2026 quarter result included a $43.1 million non-cash gain from the remeasurement of warrant-related derivative liabilities driven by a decrease in the Company’s share price.
• Adjusted EBITDA was a loss of $6.3 million in Q3 2026 as compared to a loss of $3.0 million in Q3 2025.
• Cash and cash equivalents at the end of Q3 2026 of $102.8 million, a net decrease of $10.5 million from $113.3 million at the end of the fiscal quarter ended June 30, 2026 (“Q2 2026”).