Finnish quantum unicorn IQM set to go public

Finnish quantum computing company IQM, founded in 2018 as a spinout from Aalto University and VTT Technical Research, is preparing to go public. IQM develops both on-premises full-stack quantum computers and a cloud platform for accessing its systems, serving academic and industrial clients globally. The company reported $35 million in revenue for 2025 and over $100 million in bookings, with a cash position expected to exceed $450 million following the public offering. IQM aims to list on both U.S. and Nordic exchanges, potentially on Nasdaq or the NYSE, using American Depositary Shares as a foreign company. The public listing will provide IQM with additional capital to support its commercial growth plans. The move comes amid growing interest in public quantum computing companies, driven by government and Big Tech signals that a “quantum advantage” over classical supercomputers may soon be achievable. Despite enthusiasm for quantum technology’s potential applications in life sciences and materials science, industrial-scale uses remain years