Horizon Quantum’s Q2 2026 Net Loss Widens To US$115.2 Mln
KUALA LUMPUR, Aug 5 (Bernama) -- Horizon Quantum Holdings Ltd (Horizon Quantum), a pioneer of software infrastructure for quantum applications, reported a net loss of US$115.2 million for the fiscal second quarter ended June 30, 2026 (Q2 2026), compared with a net loss of US$2.9 million a year earlier, mainly due to a non-cash accounting charge related to warrant liabilities. (US$1 = RM4.09)
The company said the quarterly loss amounted to US$2.20 per ordinary share, compared with US$0.07 per ordinary share in the corresponding quarter of 2025. The Q2 2026 result included a US$108.3 million non-cash loss arising from the remeasurement of warrant-related derivative liabilities following an increase in Horizon Quantum’s share price.
Operating loss widened to US$7.2 million from US$2.7 million in the same quarter last year, while total operating expenses increased to US$7.2 million from US$2.8 million.
Cash and cash equivalents rose to US$113.3 million as of June 30, 2026, from US$96.6 million at the end of the previous quarter, supported by US$27.5 million in gross proceeds from the exercise of approximately 2.4 million publicly traded warrants during the quarter.
In a statement, its Chief Executive Officer and Founder, Dr Joe Fitzsimons said the company reached important milestones during the quarter with Beryllium, its object-orientated quantum programming language, which became available to early-access users at the end of Q2 2026.
He said Horizon Quantum also announced a strategic collaboration with Quantum Machines to develop embedded calibration technologies, while Ember-1, the company’s Singapore-based testbed system, became available to its first users.
Fitzsimons added that the strengthened cash position would allow Horizon Quantum to increase investment in research and development (R&D), advance Triple Alpha, its integrated development environment, and continue expanding its testbed infrastructure as it pursues broader quantum advantage.
As of Aug 3, 2026, Horizon Quantum said cumulative proceeds from the exercise of about 2.5 million Public Warrants had reached US$28.7 million, strengthening its cash position and extending its anticipated financial runway.
R&D expenses rose 117 per cent to US$2.6 million, sales and marketing expenses increased 51 per cent to US$0.4 million, and general and administrative expenses climbed 236 per cent to US$3.8 million, reflecting higher headcount, public-company transition costs, and the expansion of the company’s hardware testbed operations.
The company reported an adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) loss of US$5.5 million for Q2 2026, compared with a loss of US$2.1 million in the same quarter last year.
Horizon Quantum said it remains focused on developing the software infrastructure needed to enable developers to build increasingly sophisticated quantum computing applications and integrate them more effectively with underlying quantum hardware systems.
-- BERNAMA