Beryllium entered early access, Ember-1 opened to first users, and Horizon announced a calibration-focused collaboration with Quantum Machines.
Quarterly loss widens on warrant remeasurement
Horizon Quantum posted a GAAP net loss of USD 115.2 million, or USD 2.20 per share, versus a GAAP loss of USD 2.9 million a year earlier.
GAAP operating loss widened to USD 7.2 million from USD 2.7 million, while total operating expenses rose to USD 7.2 million from USD 2.8 million.
The quarter included a USD 108.3 million non-cash GAAP loss from remeasuring warrant-related derivative liabilities tied to a higher share price.
Cash balance rises on warrant exercise proceeds
Cash and cash equivalents climbed to USD 113.3 million, up USD 16.7 million from the prior quarter, on USD 27.5 million of gross proceeds from public warrant exercises.
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