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.

• Business model centers on selling/licensing digital cryogenic control/readout chips, software, firmware, integration services, and foundry capabilities; does not sell qubits or end-user quantum computing services.

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

• Strategic relationships with leading quantum system developers, government programs, and manufacturing partners support validation and ecosystem integration.

Financial performance and metrics

• Revenue grew from $0.8M in 2024 to $4.2M in 2025, with $1.8M in the first half of 2026; most revenue is from services, not product sales.

• Net losses were $10.1M in 2024, $12.2M in 2025, and $9.6M for the first half of 2026; accumulated deficit reached $65.3M by June 2026.

• Cash balance was $18.1M as of June 30, 2026, with negative operating cash flows and substantial doubt about ability to continue as a going concern without additional capital.

• 95% of 2025 revenue was from quantum computing-related activities, mainly engineering and integration, with only 5% from commercialized product sales.

Use of proceeds and capital allocation

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

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