Honeywell-backed quantum computing firm seeks $12.7 billion valuation in Nasdaq debut amid early-stage revenue volatility.
Quantinuum plans to raise up to $1.05 billion in its initial public offering, pricing 21 million shares between $45 and $50 each. At the top range, the company would achieve a $12.7 billion valuation and trade under the ticker QNT on Nasdaq.
The quantum computing firm reported $5.2 million in revenue for the March quarter, down from $19.1 million a year earlier, while its net loss expanded to $136.6 million from $30.5 million. Customer concentration remains high, with Japan’s RIKEN accounting for 90% of revenue in last year’s March quarter but just 7% in the latest period.
Quantinuum, formed in 2021 through the merger of Honeywell Quantum Solutions and Cambridge Quantum, aims to commercialize fault-tolerant quantum computing by the end of the decade. The company highlights $79.3 million in 2025 bookings as a sign of early demand despite financial volatility.