Investment Review №345. Treasuries vs Stocks

Yerlan Abdikarimov
Head of Financial Analysis Department at Freedom Broker
IPO of Quantinuum Inc. Quantum Innovations
On May 8, 2026, Quantinuum Inc. filed for an IPO. The company develops quantum computing systems and was carved out of Honeywell. The underwriting syndicate includes J.P. Morgan, Morgan Stanley, Jefferies, Evercore ISI, BofA Securities, UBS Investment Bank, Cantor, Mizuho, Needham & Company, Societe Generale, and TD Cowen.
| Issuer | Quantinuum Inc |
| Ticker | QNT |
| Exchange | NASDAQ |
| Underwriters | J.P. Morgan, Morgan Stanley, Jefferies, Evercore ISI, BofA Securities, UBS Investment Bank, Cantor, Mizuho, Needham & Company, Societe Generale, TD Cowen |
Investment Potential
Company Profile. Quantinuum Inc. develops quantum computing systems and software aimed at commercializing quantum technologies for enterprise and government applications.The company operates on the premise that next-generation computing will be hybrid in nature—combining classical processors, GPU-accelerated computing, and quantum processors to solve workloads that traditional systems cannot efficiently handle.Its platform spans both hardware and software development, targeting use cases across AI, cybersecurity, drug discovery, and materials science.Quantinuum was formed in 2021 through the merger of Honeywell Quantum Solutions and Cambridge Quantum, combining quantum hardware expertise with advanced quantum software capabilities.
Potential Market. According to the Boston Consulting Group Quantum Forecast 2024, the quantum systems market could reach ~$5bn–10bn by 2030 and scale to as much as ~$850bn by 2040.
Financial Performance. Quantinuum Inc. posted 35% revenue growth in 2025, while growth in 1Q26 slowed by 73%. EBIT margin stood at -665% in 2024, -644% in 2025, and -1473% in 1Q26. The company ended 2025 debt-free.