Quantum Market Cap

HQ vs IQMX: Which Quantum Stock Is Better?

Horizon Quantum (Quantum Software) vs IQM Quantum Computers (Superconducting) — live market, SEC financial and quantum-hardware data side by side.

IQMX is the larger company at $3.42B market cap, about 2.8× the size of HQ ($1.23B).

They take different technical paths: HQ reports its qubit count (Software-Defined (Hardware-Agnostic)), while IQMX reports 54 qubits (Physical Qubits (Superconducting Transmon)) — raw counts are not directly comparable across modalities.

MetricHQHorizon QuantumIQMXIQM Quantum Computers
Market
Price$23.78$13.03
Market Cap$1.23B$3.42B
1Y Return—+28.4%
52W High$45.00$13.78
52W Low$8.29$9.62
Financials
Revenue (latest FY)——
Revenue YoY——
Net Income——
Cash & Equivalents$96.60M—
Cash Runway91mo—
Risk
Going Concern FlagNoNo
ATM Offerings (dilution)31
Daily Short Vol %41.1%46.9%
Beta (1Y vs SPY)0.740.06
Government & Research
Federal Awards Total——
Academic Citations——
Patents——
Quantum Technology
Physical Qubits—54
Qubit ModalitySoftware-Defined (Hardware-Agnostic)Physical Qubits (Superconducting Transmon)
2Q Gate Fidelity——
Cloud PlatformsTriple Alpha IDE (own platform), Rigetti Novera QPU testbed (Singapore HQ)IQM Resonance (cloud access), On-premises systems (IQM Spark, IQM Radiance)
Roadmap TargetTriple Alpha testbed access for developers 2026; full-stack enterprise quantum application platform 2026–2027Fault-tolerant quantum computing targeted by 2030, scaling through 150- and 300-qubit Radiance-class systems with error-corrected logical qubits
Company
Founded20182018
HeadquartersSingaporeEspoo, Finland
Employees——

HQ vs IQMX FAQ

Is HQ or IQMX the bigger company?

IQMX is larger, with a market cap of $3.42B versus $1.23B for HQ.

Which has the longer cash runway, HQ or IQMX?

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

What technology do HQ and IQMX use?

Horizon Quantum (HQ): Software-Defined (Hardware-Agnostic). IQM Quantum Computers (IQMX): Physical Qubits (Superconducting Transmon). Qubit counts are not directly comparable across different modalities.

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