Horizon Quantum, a quantum computing software company, held its initial public offering this year and saw its share price surge from an opening of $12 on March 20 to as high as $45 on June 22. The company focuses exclusively on software, aiming to fill a gap as many competitors work on hardware, and its Triple Alpha platform is designed to be hardware-agnostic. Catalysts for the stock's rise include President Trump's June 22 executive order to advance U.S. quantum computing leadership and investment bank Needham initiating coverage with a buy rating. Despite the share price increase, Horizon Quantum reported no revenue in the first quarter, with operating expenses of $6.5 million, up from $4.7 million a year earlier, and ended the quarter with $96.6 million in cash and equivalents from its IPO. The company is expanding, including opening a research center in Ireland to house a quantum computer purchased from IonQ, but faces industry challenges such as the high cost and impracticality of current quantum machines, making the stock a high-risk investment suited only for those with high risk tolerance.
Horizon Quantum Holdings Ltd. Class A Ordinary Shares
IONQ Inc
Microsoft Corporation