Honeywell-backed quantum computing firm Quantinuum has taken a major step toward going public after officially filing paperwork for a US initial public offering, signaling renewed momentum in the IPO market.

The company, which was formed in 2021 through the combination of Honeywell’s quantum computing division and Cambridge Quantum, is based in Broomfield, Colorado and is considered one of the leading players in next-generation quantum technologies, News.Az reports, citing Reuters.

Quantinuum reported a net loss of $192.6 million on $30.9 million in revenue for the year ended December 31, compared with a $144.1 million loss on $23 million in revenue the previous year, reflecting its early-stage commercial development and heavy investment cycle.

The firm said it has invested more than $2 billion in research and development over the past decade as it works toward building scalable quantum computing systems capable of solving complex problems far beyond the reach of classical computers.

According to company leadership, early customer deployments across both commercial and government sectors indicate strong long-term potential for the technology, which is often compared to the transformative impact of artificial intelligence.

Quantinuum is majority owned by Honeywell and previously raised around $600 million from investors, including Nvidia’s venture capital arm, at a $10 billion pre-money valuation.

The company plans to list on the Nasdaq under the ticker “QNT,” with J.P. Morgan and Morgan Stanley acting as lead book-running managers for the offering.

The move comes as the US IPO market shows signs of recovery, driven by renewed investor appetite and improving market conditions for high-growth technology listings, particularly in advanced computing and AI-adjacent sectors.

News.Az 

By Aysel Mammadzada