Horizon Quantum Holdings Ltd. Class A Ordinary Shares

Software - Application · Technology

Price

$19.93

+2.53 (+14.54%)

Market Cap

$1.08B

Exchange

NASDAQ

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Share count falling — buybacks

−50.4% over 3y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 7.9M (2022) → 3.9M (2025)

Winston Score History

The full picture

Horizon Quantum Computing is a software company based in Singapore that builds tools to help programmers write software for quantum computers. Quantum computers are a new type of machine that can solve certain complex problems much faster than regular computers. The company's main product is a programming platform that makes it easier for developers and businesses to create applications that run on quantum hardware, without needing deep expertise in quantum physics.

The company earns revenue by licensing its software to businesses and research institutions that want to experiment with or deploy quantum computing. It operates primarily in Asia but targets a global market, and its 100% gross margin reflects a pure software model with no physical goods to sell. The operating loss is very large relative to revenue, which is typical for early-stage deep-tech companies still building their customer base. The key risk is that quantum computing hardware remains immature, meaning widespread commercial demand for Horizon's tools could be years away.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-100.0% YoY

Revenue declining

EPS Growth

-170.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

S$0/ year

↓ Declining (-100% vs prior year)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

89.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 years

S$147M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

S$147M cash & investments at current burn rate

Revenue declining

Horizon Quantum Holdings Ltd. Class A Ordinary Shares's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

N/A

Data not available

Profit after running costs

Operating Margin

N/A

Data not available

Return on the money invested

ROCE

-38.0%

Weak — -38.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-100.0%

Shrinking sales (-100.0% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

N/A

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

0.01

Conservative — low debt load (0.01)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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