SeeQC (SEQC) Registration filing summary

Company overview and business model

• Designs and manufactures digital infrastructure for scalable, fault-tolerant quantum computing, focusing on chip-based control, readout, and integration solutions.

• Operates an in-house superconducting foundry and collaborates with leading quantum hardware developers, government programs, and technology partners.

• Revenue is primarily from engineering services, integration programs, and foundry services, with most quantum solutions still in development.

• Business model centers on selling or licensing chips, software, integration services, and fabrication capabilities to quantum hardware developers.

Financial performance and metrics

• Revenue for 2025 was $4.2 million, up from $0.8 million in 2024, with 95% from quantum-related activities.

• Net loss for 2025 was $12.2 million, compared to $10.1 million in 2024; accumulated deficit reached $60.5 million by March 2026.

• Cash and equivalents were $23.1 million as of March 31, 2026; pro forma cash post-offering and PIPE investment would be $145.7 million.

• Operating expenses are driven by R&D, selling, general, and administrative costs, with significant investment in technology development.

Use of proceeds and capital allocation

• Net proceeds from the IPO and PIPE investment (approx. $145.7 million pro forma) will be used for general corporate purposes, product development, and capital expenditures.

• Management has broad discretion over capital allocation; proceeds may also support ongoing R&D and business operations.