Horizon Quantum swings to Q3 2026 net profit of $33.41 million from year-earlier loss
HQ•Horizon Quantum reported Q3 2026 net income of $33.41 million, compared with a loss of $5.19 million a year earlier. Results included a $43.1 million noncash gain, while operating loss widened to $10.49 million and quarter-end cash fell 9% to $102.8 million.
1. Quarterly results
Horizon Quantum swung to net income of $33.41 million in Q3 2026 from a loss of $5.19 million a year earlier. The result included a $43.1 million noncash gain from remeasuring warrant-related derivative liabilities due to a lower share price.
2. Costs and proposed deal
Operating loss more than doubled year over year to $10.49 million, primarily due to public-company transition expenses, R&D hiring and operational support costs. Quarter-end cash and cash equivalents fell 9% from Q2 2026 to $102.8 million. A nonbinding letter of intent proposes acquiring quantum software company Entropica Labs for $27 million in Class A ordinary shares.
