Horizon Quantum (Nasdaq: HQ) reported Q2 2026 results for the quarter ended June 30, 2026. Cash and cash equivalents rose to $113.3 million, a net increase of $16.7 million from Q1 2026, driven mainly by the exercise of approximately 2.4 million Public Warrants (HQWWW) generating $27.5 million in gross proceeds; total warrant proceeds to August 3, 2026 reached $28.7 million.
Q2 2026 operating loss was $7.2 million versus $2.7 million in Q2 2025. Net loss was $115.2 million, or $2.20 per share, including a non-cash $108.3 million loss from remeasurement of warrant-related derivative liabilities. Adjusted EBITDA loss was $5.5 million compared with $2.1 million a year earlier. Operating expenses increased across R&D, sales and marketing, and G&A as Horizon Quantum invested in headcount, public company readiness, and its hardware testbed.
Operationally, Horizon released Beryllium, its object-oriented quantum programming language, to early access users, opened its Ember-1 testbed in Singapore to first users, and announced a strategic calibration-focused collaboration with Quantum Machines. The company also confirmed plans to locate a 256‑qubit trapped-ion testbed system in Dublin, Ireland.
Horizon Quantum (Nasdaq: HQ) and AQT announced a strategic collaboration to integrate Horizon’s Triple Alpha software with AQT’s trapped‑ion quantum processors to accelerate real‑world quantum applications.
The partnership enables cloud access to AQT hardware via Triple Alpha, broadening hardware support and simplifying developer access at multiple abstraction levels.
Horizon Quantum (HQ) announced a strategic agreement to purchase one of IonQ’s first 6th-generation, chip-based 256-qubit trapped-ion systems on April 9, 2026. The system features all-to-all connectivity, microwave gate operations and 99.99% gate fidelity.
Horizon Quantum will add the trapped-ion system to its hardware testbed, expand Triple Alpha support for trapped-ion, and enhance real-time runtime capabilities to enable adaptive, hardware-agnostic quantum software development.