Zapata Quantum (ZPTA) Registration filing summary

Company overview and business model

• Operates as a hardware-agnostic quantum software company, focusing on quantum and hybrid quantum-classical computing applications for enterprise, government, and research clients.

• Offers a suite of products (Orquestra, Bench-Q, Quantum Graph, Quantum Pilot) and professional services, with a subscription-based revenue model.

• Holds over 60 patents and collaborates with Fortune 500 companies, government agencies, and academic partners.

• Underwent a strategic realignment in 2025, refocusing on quantum software after a temporary operational suspension in late 2024 due to liquidity constraints.

• Resumed operations in 2025-2026 after restructuring, rehiring key personnel, and raising new capital.

Financial performance and metrics

• No revenue generated in 2025 or Q1 2026 due to operational cessation; $3.9M revenue in 2024.

• Operating loss of $3.4M in 2025, down from $23.0M in 2024; net income of $9.3M in 2025 due to gains on extinguishment of liabilities.

• Cash balance of $642K as of March 31, 2026; stockholders' deficit of $9.4M.

• Raised $15M in April 2026 via Series D preferred stock and warrants; expects cash to fund operations for at least 12 months from latest financials.

• Accumulated deficit of $118.3M as of December 31, 2025; history of operating losses and negative cash flows.

Use of proceeds and capital allocation

• Will not receive proceeds from selling stockholders; proceeds from warrant exercises (if any) will be used for general corporate and working capital purposes.

• Recent capital raises used to repay obligations, rehire personnel, and fund working capital.