What Horizon Quantum Holdings Ltd. told the SEC could break it.

Hardware-agnostic quantum software depends on a small number of third-party hardware providers; a failure, shutdown or business-model change at any one could make hardware inaccessible or prohibitively expensive.

“We rely on a small number of third-party providers; a failure or significant setback at any one of them could have a material and adverse effect on our business. If a major provider experiences a technical failure, ceases operations, or changes its business model in a way that makes their hardware inaccessible or prohibitively expensive, it may affect our services or business model.”

Though Singapore-based, US-China trade tensions and tariffs on China-origin goods could disrupt its hardware supply chain and raise costs.

“Though we are a Singapore based company, political challenges between the United States and countries in our supply chain, including China, and changes to trade policies, including tariff rates and customs duties, trade relations between the United States and China and other macroeconomic and national security issues could adversely impact our business.”