The quantum computing company Quantinuum Inc (QNT.US) began trading on US markets on Thursday. Its stock opened over 13% higher but ultimately closed with a modest gain of 0.63% at $60.38, slightly above its IPO price of $60.

The company was established in 2021 through the merger of Honeywell's quantum computing division and UK-based Cambridge Quantum. Quantinuum positions itself as a "full-stack quantum computing platform," operating across both hardware and software domains.

Its client base spans pharmaceuticals, materials science, finance, government, and industrial markets, including entities such as JPMorgan Chase and Amgen.

For the first quarter of this year, Quantinuum reported revenue of $5.24 million, a significant 73% year-over-year decline. Its net loss widened substantially to $136.5 million, compared to $30.5 million in the same period last year.

A key metric reflecting the total value of customer contracts, bookings, stood at $1.3 million for Q1 this year, down from $1.9 million a year ago.