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HQ vs BTQ: Which Quantum Stock Is Better?

Horizon Quantum (Quantum Software) vs BTQ Technologies (Quantum Security) — live market, SEC financial and quantum-hardware data side by side.

HQ is the larger company at $603.49M market cap, about 1.3× the size of BTQ ($477.88M).

BTQ reports more revenue ($230.19K vs $38.88K for HQ, latest fiscal year).

On cash runway — the metric that decides who needs to raise money first — HQ is stronger (91mo vs 7mo).

They take different technical paths: HQ reports its qubit count (Software-Defined (Hardware-Agnostic)), while BTQ reports its qubit count (Software-Defined (Neutral-Atom Emulation & Control)) — raw counts are not directly comparable across modalities.

HQ vs BTQ Performance (% return, all start at 0%)
1/272/263/274/285/286/29-100%+0%+100%+200%+300%
HQ+18.8%BTQ-18.0%
MetricHQHorizon QuantumBTQBTQ Technologies
Market
Price$11.70$3.33
Market Cap$603.49M$477.88M
1Y Return——
52W High$45.00$16.00
52W Low$8.29$2.09
Financials
Revenue (latest FY)$38.88K$230.19K
Revenue YoY—-52.7%
Net Income-$17.94M-$17.95M
Cash & Equivalents$96.60M$8.75M
Cash Runway91mo7mo
Risk
Going Concern FlagNoNo
ATM Offerings (dilution)31
Daily Short Vol %61.6%51.2%
Beta (1Y vs SPY)0.831.81
Government & Research
Federal Awards Total——
Academic Citations——
Patents——
Quantum Technology
Physical Qubits——
Qubit ModalitySoftware-Defined (Hardware-Agnostic)Software-Defined (Neutral-Atom Emulation & Control)
2Q Gate Fidelity——
Cloud PlatformsTriple Alpha IDE (own platform), Rigetti Novera QPU testbed (Singapore HQ)MIMIQ (cloud and on-premises), SDT QuREKA, aQCess digital twin
Roadmap TargetTriple Alpha testbed access for developers 2026; full-stack enterprise quantum application platform 2026–2027Deploy the aQCess digital twin as the 400+ qubit platform comes online; QLU v1 targeted for mid-2027; expand MIMIQ/QLU integrations across neutral-atom hardware
Company
Founded20182021
HeadquartersSingaporeVancouver, BC, Canada
Employees——
Company DNA0–100 rank vs all tracked stocks · missing data = 0
MomentumScaleRevenueRunwayGov $Research

Momentum = 1Y return · Scale = market cap · Runway capped at 36mo · Gov $ = federal awards · Research = citations + patents. Dollar axes use log scale.

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HQ vs BTQ FAQ

Is HQ or BTQ the bigger company?

HQ is larger, with a market cap of $603.49M versus $477.88M for BTQ.

Which has the longer cash runway, HQ or BTQ?

HQ's cash runway is 91mo and BTQ's is 7mo (current cash ÷ trailing-twelve-month operating burn; "CF+" means cash-flow positive).

What technology do HQ and BTQ use?

Horizon Quantum (HQ): Software-Defined (Hardware-Agnostic). BTQ Technologies (BTQ): Software-Defined (Neutral-Atom Emulation & Control). Qubit counts are not directly comparable across different modalities.

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