NEW YORK, July 7, 2026, 07:02 EDT
- Quantinuum finished Monday at $83.17, gaining 11.55% for the session and now trades 38.6% over its $60 IPO price.
- The stock trades above the lowest target on record at $78. The average 12-month target is $98.75, according to .
- Quantinuum reported $76.8 million in remaining performance obligations as of March 31, with $26.9 million set to turn into revenue over the next year. That’s nearly in line with the $27 million revenue estimate for 2026.
- Nasdaq was trading pre-market at the time of the dateline. Regular session starts at 9:30 a.m. ET.
Quantinuum Inc. NASDAQ:QNT finished its first month on the market with a more settled valuation than the quick jump it saw on day one. Shares closed Monday at $83.17, putting the company’s value around $21.70 billion. That’s about 804 times the $27 million in 2026 revenue analysts are projecting.
This is important since Quantinuum’s backlog sits at $76.8 million as of March 31. The company said 35% of that will likely show up as revenue in the next 12 months, or about $26.9 million. That’s basically the same as the 2026 revenue target.
U.S. stocks traded on a normal schedule Tuesday after being closed for Independence Day on Friday, July 3. Nasdaq’s cash session ran 9:30 a.m. to 4:00 p.m. ET. Pre-market trading was open from 4:00 a.m. to 9:30 a.m. ET.
| Quantum stock | Latest price | Market value | Investor read |
|---|---|---|---|
| Quantinuum Inc. NASDAQ:QNT | $83.17 | $21.70 bln | Sets new public yardstick for quantum revenue |
| IonQ Inc. NYSE:IONQ | $48.87 | $18.14 bln | Smaller cap, but posts profit on reported EPS |
| D-Wave Quantum Inc. NYSE:QBTS | $22.56 | $8.29 bln | Loss maker |
| Rigetti Computing Inc. NASDAQ:RGTI | $17.96 | $6.02 bln | Loss maker |
Quantinuum’s market value is now ahead of IonQ, D-Wave and Rigetti on the most recent data. The big question is revenue growth, not just what the shares are doing.
| Forecast item | 2026E | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|
| Revenue, $ mln | 27 | 44 | 260 | 841 | 2,463 |
| EBITDA, $ mln | -397 | -431 | -338 | -107 | 823 |
| EPS, $ | -1.65 | -1.73 | -1.34 | -0.59 | 2.71 |
| Price/sales at $21.70 bln market value | 804x | 493x | 83x | 26x | 8.8x |
Sell-side projections focus on 2028 through 2030, not 2026. Business Insider data puts revenue at $27 million this year and $2.46 billion by 2030. EBITDA is seen going positive in 2030.
| Street price forecast | Target | Implied move vs $83.17 |
|---|---|---|
| Lowest estimate | $78.00 | -6.2% |
| Street average | $98.75 | +18.7% |
| Bull case | $155.00 | +86.4% |
Morgan Stanley NYSE:MS analyst Joseph Moore started Quantinuum at Equal-weight and put a $78 price target on the stock, under where shares finished Monday. Moore called Quantinuum “one of the strongest companies in quantum computing,” though he also pointed to “significant uncertainty” in the space. Investing.com UK
The company’s filing lays out both sides. First quarter revenue dropped 73% to $5.2 million, down from $19.1 million in the same period last year. Most of the decline came from last year’s $16.5 million in upfront revenue from a sales-type lease. Cloud platform, research and support revenue climbed $2.5 million.
Customer concentration risk remains tough to model. RIKEN brought in 60% of projected 2025 revenue and 63% in 2024, but just 7% in the March quarter. Quantinuum said big customer spending and funding swings can drive big moves in quarterly numbers.
Honeywell International Inc. NASDAQ:HON is still holding effective control for public shareholders, and also serves as a key support. Reuters said after the debut that Honeywell kept around 48.1% of the voting rights. Quantinuum pulled in $1.68 billion, selling 28 million shares at $60 each.
CEO Rajeeb Hazra said in an interview with Reuters after the IPO that “commercialization has started – started small” and said Quantinuum was “ready for public markets.” Reuters
Quantinuum’s next stock event is more technical than newsy. The company has a webinar lined up for Tuesday at 11 a.m. ET and again at 6 p.m. ET. Dr. Matthew DeCross is set to go over encoded logical qubits, talk about a 2:1 encoding rate, and share results from a quantum magnetism simulation using 64 error-detected qubits.
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