Quantinuum, the trapped-ion quantum computing company backed by Honeywell, priced its IPO at $60 per share on June 3, 2026, raising $1.68 billion. Shares are set to begin trading on Nasdaq under the ticker QNT on June 4.
This is one of the first traditional public listings for a major quantum computing firm. The offering was upsized from an initial target of roughly $1.05 billion.
The numbers behind the quantum hype
Quantinuum sold 28 million shares of Class A common stock, with underwriters holding a 30-day option to purchase an additional 4.2 million shares. At the prior price range, the company carried a valuation of $14.3 billion.
The company reported 2025 revenue of approximately $30.9 million. Its bookings hit $79.3 million. The net loss widened to $192.6 million for the same period.
A $14.3 billion valuation on $31 million in revenue works out to roughly a 460x revenue multiple.
From private rounds to public markets
Quantinuum raised $300 million in January 2024 at a pre-money valuation of $5 billion. By September 2025, it pulled in $600 million at a $10 billion pre-money valuation.
Nvidia’s venture arm is among the institutional investors that have backed the company. The US Commerce Department has also contributed a total of $100 million in funding.
Quantinuum specializes in trapped-ion quantum systems, a technical approach that competes with the superconducting qubit architectures favored by companies like IBM and Google.
What this means for investors
The $79.3 million in bookings versus $30.9 million in recognized revenue suggests that customer contracts are growing faster than the company can deliver on them. Previous quantum-adjacent public companies have mostly reached the market through SPACs. A traditional IPO with this level of institutional demand represents a different path to market.