SeeQC (SEQC) Registration filing summary

Company overview and business model

• Develops digital infrastructure for scalable, fault-tolerant quantum computing, focusing on chip-based control, readout, and integration solutions for quantum hardware developers and integrators.

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

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

• Business model centers on selling/licensing chips, software, integration services, and fabrication capabilities, not end-user quantum computing services.

• Growth strategy targets deeper penetration in superconducting quantum systems, expansion across modalities, and broader ecosystem partnerships.

Financial performance and metrics

• Revenue for 2025 was $4.2M, up from $0.8M in 2024; six months ended June 30, 2026 revenue was $1.8M.

• Net loss for 2025 was $12.2M, compared to $10.1M in 2024; net loss for the first half of 2026 was $9.6M.

• As of June 30, 2026, cash was $18.1M, with an accumulated deficit of $65.3M.

• 95% of 2025 revenue was from quantum computing-related activities, mainly engineering and integration, not product sales.

• Management has concluded there is substantial doubt about the ability to continue as a going concern without additional capital.

Use of proceeds and capital allocation

• Net proceeds from the IPO will be used for general corporate purposes, including product development and capital expenditures.

• A portion of proceeds will be used to pay up to $2M to Allegro as part of a settlement agreement.

• Management has broad discretion over use of funds; proceeds may be invested in short-term, interest-bearing instruments pending use.