Quantinuum by the numbers
The valley's largest quantum company, most accurate machine, deepest balance sheet, from a federal bench in Boulder.
As of July 2, 2026, the market marks Quantinuum at about $21 billion.
Read the Deep: The trapped-ion giant goes public →
| Jan 2024 | January 2024 private round, about $5B. |
|---|---|
| Sep 2025 | September 2025 private round, about $10B. |
| May 26 | First IPO price range, about $12.7B. |
| Jun 1 | Upsized IPO range, about $14.3B. |
| Jun 4 | Priced debut at $60. HPE partnership followed June 15; Sandia certification June 18. |
| Jun 23 | About $19 to $20B fully diluted. |
| Jul 1 | July 1 high, about $82 a share, about $21B fully diluted. |
| ~Jul 5 | Greenshoe over-allotment expected to settle around July 5. |
| ~Aug | First quarterly financials since the debut, expected around August. |
From $12.7 billion on May 26 to $21 billion on July 1: roughly $8 billion added in five weeks.
| Quantinuum | IonQ | |
|---|---|---|
| Modality | Trapped ion | Trapped ion |
| Market value | ~$21B (Jul 1 high) | ~$19B (late Jun) |
| 2025 revenue | $30.9M | ~$130M (broad portfolio) |
| Headquarters | Broomfield, CO | College Park, MD (Boulder R&D lab) |
| Strategy | Integrated, one QCCD stack, built inside Honeywell | Acquisitive, full-stack: Oxford Ionics, SkyWater, more |
| Two-qubit fidelity | 99.921% (shipping), Sandia-certified | 99.99% (lab prototype) |
| Lineage | NIST Boulder, Wineland | Co-founder Monroe trained under Wineland |
Two public trapped-ion companies, near the same market value, taking opposite routes. The fidelity figures are not like for like: Helios is a shipping number, IonQ's is a lab result for its 2026 systems.
Both roads lead back to the same Boulder bench.
Votes and equity split along dual-class lines, which is why the two charts do not match. The founders kept most of the equity: 28 million IPO shares of roughly 260 million fully diluted puts the public float near 11 percent, before the greenshoe. The June 29 Aerospace spin changed what Honeywell is, not who controls Quantinuum.
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