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Quantinuum Inc., the quantum computing unit majority-owned by Honeywell $HON +1.67% International Inc., is targeting a valuation of up to $12.7 billion in its U.S. initial public offering, according to Reuters.
Plans call for approximately 21.05 million shares to be offered at a price range of $45 to $50, with total proceeds expected to reach as much as $1.05 billion. Quantinuum intends to list on the Nasdaq $NDAQ +0.13% Global Market under the ticker symbol "QNT," with J.P. Morgan and Morgan Stanley $MS -0.12% serving as joint lead active book-running managers.
Full-year 2025 results showed $30.9 million in revenue alongside a $192.6 million net loss; in the preceding year, the company had posted $23 million in revenue and a $144.1 million net loss. Revenue of $5.2 million and a net loss of $136.6 million were recorded in the first quarter ending March 31, 2026. As of March 31, 2026, Quantinuum held $677 million in cash and cash equivalents.
After the IPO closes, roughly 49.1% of combined voting power across both share classes will remain with Honeywell, which the filing says intends to continue as both a customer and partner going forward.
