Horizon Quantum Holdings Ltd. files 20-F

Horizon Quantum Holdings Ltd. (HQ) reported a net loss of S$23,065,676 for the fiscal year ended December 31, 2025, significantly wider than the S$7,483,174 net loss in 2024. This increased loss was primarily driven by a substantial rise in operating expenses, particularly research and development, and general and administrative costs, as the company continued to invest in its quantum computing software infrastructure. The company also completed a business combination on March 19, 2026, raising approximately US$120 million in gross proceeds, which management believes alleviates prior substantial doubt about its ability to continue as a going concern.