Overview
- Quantinuum filed its Form S-1 in May 2026 and is offering roughly 21.05 million shares at $45 to $50 each to raise up to about $1.05 billion and list under the ticker QNT.
- If the IPO prices at the top of the range the company would be valued at about $12.7 billion while Honeywell would keep roughly 49.1% of combined voting power after the sale.
- The filing shows small current sales and big losses, reporting about $36 million in revenue for the year to March 31, 2026 and net losses that include a $192.6 million shortfall in 2025 and a $136.6 million loss in Q1 2026.
- Quantinuum highlights technical progress for its Helios trapped-ion system — reporting 98 physical qubits, 48 logical qubits and 99.921% two-qubit gate fidelity — and says larger systems called Sol and Apollo are targeted for 2027 and 2029 respectively, which are planning targets not guarantees.
- The IPO arrives as Washington announced a roughly $2 billion quantum program that includes a reported $100 million for Quantinuum and as public quantum stocks have rebounded, making this listing a high-profile test that could set a price signal for the young sector.