STOCK TITAN

IonQ Announces Fourth Quarter and Full Year 2024 Financial Results

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Neutral)
Tags

IonQ (NYSE: IONQ) reported strong financial results for Q4 and full year 2024, with full-year revenue reaching $43.1 million, representing 95% year-over-year growth. The company exceeded guidance with $95.6 million in new bookings for 2024.

Key financial metrics include Q4 revenue of $11.7 million, cash and investments of $363.8 million, and a net loss of $202.0 million. The company announced a definitive agreement to acquire a majority stake in ID Quantique, expanding its quantum networking capabilities and patent portfolio to nearly 900 patents.

Notable developments include a $21.1 million project with Air Force Research Lab, partnerships with General Dynamics Information Technology, and the delivery of IonQ Forte Enterprise to its first European Innovation Center. For 2025, IonQ projects revenue between $75-95 million, with Q1 expected at $7-8 million.

IonQ (NYSE: IONQ) ha riportato risultati finanziari solidi per il Q4 e l'intero anno 2024, con un fatturato annuale che ha raggiunto $43,1 milioni, rappresentando una crescita del 95% rispetto all'anno precedente. L'azienda ha superato le previsioni con $95,6 milioni in nuove prenotazioni per il 2024.

I principali indicatori finanziari includono un fatturato del Q4 di $11,7 milioni, liquidità e investimenti di $363,8 milioni, e una perdita netta di $202,0 milioni. L'azienda ha annunciato un accordo definitivo per acquisire una partecipazione di maggioranza in ID Quantique, ampliando le sue capacità di networking quantistico e il portafoglio di brevetti a quasi 900 brevetti.

Tra gli sviluppi notevoli si annoverano un progetto da $21,1 milioni con il Laboratorio di Ricerca dell'Air Force, partnership con General Dynamics Information Technology e la consegna di IonQ Forte Enterprise al suo primo Centro di Innovazione Europeo. Per il 2025, IonQ prevede un fatturato compreso tra $75-95 milioni, con il Q1 atteso tra $7-8 milioni.

IonQ (NYSE: IONQ) reportó resultados financieros sólidos para el cuarto trimestre y el año completo 2024, con ingresos anuales que alcanzaron $43.1 millones, representando un crecimiento del 95% en comparación con el año anterior. La empresa superó las expectativas con $95.6 millones en nuevas reservas para 2024.

Los principales indicadores financieros incluyen ingresos del cuarto trimestre de $11.7 millones, efectivo e inversiones de $363.8 millones, y una pérdida neta de $202.0 millones. La empresa anunció un acuerdo definitivo para adquirir una participación mayoritaria en ID Quantique, ampliando sus capacidades de redes cuánticas y su cartera de patentes a casi 900 patentes.

Desarrollos notables incluyen un proyecto de $21.1 millones con el Laboratorio de Investigación de la Fuerza Aérea, asociaciones con General Dynamics Information Technology, y la entrega de IonQ Forte Enterprise a su primer Centro de Innovación Europeo. Para 2025, IonQ proyecta ingresos entre $75-95 millones, con el primer trimestre esperado entre $7-8 millones.

IonQ (NYSE: IONQ)는 2024년 4분기 및 전체 연도에 대한 강력한 재무 결과를 보고했으며, 전체 연간 수익은 $43.1 백만에 도달하여 전년 대비 95% 성장했습니다. 회사는 2024년을 위한 새로운 예약에서 $95.6 백만으로 가이던스를 초과했습니다.

주요 재무 지표는 4분기 수익 $11.7 백만, 현금 및 투자 $363.8 백만, 그리고 순손실 $202.0 백만을 포함합니다. 회사는 ID Quantique의 대다수 지분을 인수하는 확정 계약을 발표하여, 양자 네트워킹 능력과 특허 포트폴리오를 거의 900개의 특허로 확장했습니다.

주목할 만한 개발 사항으로는 공군 연구소와의 $21.1 백만 프로젝트, General Dynamics 정보 기술과의 파트너십, 그리고 IonQ Forte Enterprise를 첫 유럽 혁신 센터에 전달한 것이 포함됩니다. 2025년을 위해 IonQ는 $75-95 백만의 수익을 예상하며, 1분기는 $7-8 백만으로 예상됩니다.

IonQ (NYSE: IONQ) a annoncé des résultats financiers solides pour le quatrième trimestre et l'année complète 2024, avec un chiffre d'affaires annuel atteignant $43,1 millions, représentant une croissance de 95 % par rapport à l'année précédente. L'entreprise a dépassé les prévisions avec $95,6 millions de nouvelles réservations pour 2024.

Les principaux indicateurs financiers incluent un chiffre d'affaires du quatrième trimestre de $11,7 millions, des liquidités et des investissements de $363,8 millions, et une perte nette de $202,0 millions. L'entreprise a annoncé un accord définitif pour acquérir une participation majoritaire dans ID Quantique, élargissant ainsi ses capacités de mise en réseau quantique et son portefeuille de brevets à près de 900 brevets.

Parmi les développements notables, on trouve un projet de $21,1 millions avec le Laboratoire de recherche de l'Air Force, des partenariats avec General Dynamics Information Technology, et la livraison de l'IonQ Forte Enterprise à son premier Centre d'Innovation européen. Pour 2025, IonQ prévoit un chiffre d'affaires compris entre $75-95 millions, avec un premier trimestre attendu entre $7-8 millions.

IonQ (NYSE: IONQ) hat starke finanzielle Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 gemeldet, mit einem Jahresumsatz von $43,1 Millionen, was einem Wachstum von 95 % im Vergleich zum Vorjahr entspricht. Das Unternehmen übertraf die Prognosen mit $95,6 Millionen an neuen Buchungen für 2024.

Wichtige Finanzkennzahlen umfassen einen Umsatz im vierten Quartal von $11,7 Millionen, Bargeld und Investitionen von $363,8 Millionen sowie einen Nettoverlust von $202,0 Millionen. Das Unternehmen gab eine endgültige Vereinbarung zur Übernahme einer Mehrheitsbeteiligung an ID Quantique bekannt, wodurch seine Fähigkeiten im Bereich der Quantenvernetzung und sein Patentportfolio auf nahezu 900 Patente erweitert werden.

Bemerkenswerte Entwicklungen umfassen ein Projekt über $21,1 Millionen mit dem Forschungsinstitut der Luftwaffe, Partnerschaften mit General Dynamics Information Technology und die Lieferung von IonQ Forte Enterprise an sein erstes europäisches Innovationszentrum. Für 2025 prognostiziert IonQ einen Umsatz zwischen $75-95 Millionen, wobei für das erste Quartal mit $7-8 Millionen gerechnet wird.

Positive
  • 95% year-over-year revenue growth to $43.1M
  • Exceeded bookings guidance with $95.6M for 2024
  • Strong cash position of $363.8M
  • Strategic acquisition of ID Quantique expanding patent portfolio
  • $21.1M Air Force Research Lab contract secured
  • Projected revenue growth to $75-95M for 2025
Negative
  • Net loss of $202.0M in Q4 2024
  • Full year net loss of $331.6M
  • Adjusted EBITDA loss of $107.2M for 2024
  • Expected Adjusted EBITDA loss of $120M for 2025
  • New $500M at-the-market equity offering may dilute shareholders

Insights

IonQ's Q4 and full-year 2024 results demonstrate remarkable commercial momentum in the quantum computing space. The company achieved $43.1 million in annual revenue, representing 95% year-over-year growth and exceeding their guidance range. Similarly, bookings reached $95.6 million for the year, surpassing the high end of their $75-95 million target.

The planned majority acquisition of ID Quantique represents a strategic pivot toward quantum networking, expanding IonQ's patent portfolio to nearly 900 and positioning the company to capture share in what McKinsey projects as a $10-15 billion annual market within a decade. This acquisition, alongside the completed Qubitekk asset purchase, signals IonQ's intent to dominate the quantum networking segment rather than focusing exclusively on quantum computing.

While the $331.6 million net loss appears concerning, it's important to understand that $117.1 million stems from non-cash warrant liability adjustments. The Adjusted EBITDA loss of $107.2 million provides a clearer picture of operational performance. However, the 2025 guidance of increased Adjusted EBITDA losses ($120 million) despite projected revenue growth to $75-95 million indicates continued heavy investment in technology development and commercial expansion.

The company's $363.8 million cash position, combined with the new $500 million at-the-market offering facility, provides approximately 3-4 years of runway at current burn rates. This timeline aligns with IonQ's technical roadmap toward achieving quantum advantage for commercial applications.

The leadership transition to Niccolo de Masi as CEO, with Peter Chapman remaining as Executive Chairman, comes at a pivotal moment as IonQ shifts from pure R&D focus to commercial execution. The company's expanding global footprint, with new quantum systems in Switzerland and partnerships in South Korea and the UAE, demonstrates IonQ's commitment to establishing international market leadership before quantum computing reaches mainstream commercial viability.

IonQ's strategic acquisition of ID Quantique marks a critical expansion beyond pure quantum computing into quantum networking—effectively positioning the company to control the full quantum technology stack. This vertical integration approach, combining IDQ's expertise in quantum key distribution with IonQ's trapped-ion quantum computers, creates a unique competitive advantage in developing quantum internet applications. The combined patent portfolio of nearly 900 patents represents not just defensive IP protection but enables cross-technology implementation of quantum solutions spanning computing, networking, and sensing.

The completion of IonQ's next-generation ion trap vacuum package prototype addresses one of the most significant scaling bottlenecks in quantum hardware. Traditional vacuum systems for trapped-ion quantum computers are bulky, complex, and difficult to manufacture at scale. This breakthrough enables room-temperature operation with Extreme High Vacuum conditions that maintain qubit coherence while dramatically reducing the physical footprint—a important step toward rack-mountable quantum processors deployable in conventional data centers.

The launch of IonQ Quantum OS represents a strategic shift toward abstracting quantum complexity through software. This operating system creates a critical abstraction layer that shields developers from the underlying quantum physics while providing optimized access to IonQ's hardware. The Hybrid Services suite similarly addresses the reality that near-term quantum advantage will come through classical-quantum hybrid approaches rather than pure quantum algorithms.

IonQ's integration with NVIDIA's CUDA-Q platform demonstrates a pragmatic approach to quantum computing commercialization. By enabling seamless handoffs between GPU-accelerated classical computing and quantum processing, IonQ is creating practical workflows for industries like materials science and computational chemistry where certain computational bottlenecks can be offloaded to quantum processors while leveraging classical systems for other parts of the workflow.

The company's global expansion strategy, with quantum systems now operating in Switzerland and partnerships across Asia and the Middle East, indicates IonQ is prioritizing early market presence over waiting for full technical maturity. This approach secures strategic relationships and application development partnerships that will be important when quantum advantage becomes more widely achievable in specific domains.

  • Exceeds High End of Guidance Range with Full Year Revenue of $43.1 Million, Representing 95% Year-Over-Year Growth
  • Exceeds High End of Guidance Range with Full Year Bookings of $95.6 Million
  • Signs Definitive Agreement to Acquire Majority Stake in ID Quantique, Leading Quantum Networking Provider, to Further IonQ’s Global Quantum Networking Leadership

COLLEGE PARK, Md.--(BUSINESS WIRE)-- IonQ (NYSE: IONQ), a leader in the quantum computing and networking industries, today announced financial results for the quarter and full year ended December 31, 2024.

“We had IonQ’s best year yet in 2024, exceeding the high ends of both our bookings and revenue guidance ranges and making truly significant technical strides,” said Peter Chapman, IonQ’s Executive Chair.

“As we enter 2025, IonQ has a strong pipeline that we believe will enable us to lead in the era of commercial advantage. Last year, our rapidly expanding quantum networking business line closed three major networking contracts. McKinsey expects the quantum networking industry to be worth $10-15 billion per year within the next decade,” noted Chapman.

“Our transaction to acquire control of ID Quantique extends IonQ’s networking leadership as well as our control of over 400 networking patents granted and pending,” continued Chapman. “Moreover, the ID Quantique deal, recent launch of our new Switzerland data center, and commercial activity across South Korea, the Middle East, and North America demonstrate IonQ’s expanded leadership in the global quantum industry.”

Financial Highlights

  • IonQ recognized revenue of $11.7 million for the quarter, exceeding the high end of the previously announced guidance range of $7.1 million to $11.1 million.
  • IonQ recognized revenue of $43.1 million for the full year, exceeding the high end of the previously announced guidance range of $38.5 million to $42.5 million. This represents 95% annual growth compared to $22.0 million in the prior year.
  • IonQ achieved $95.6 million in new bookings for the full year and $22.7 million for the fourth quarter, exceeding the high end of the previously announced full year financial guidance range of $75 million to $95 million.
  • Cash, cash equivalents, and investments were $363.8 million as of December 31, 2024.
  • Net loss was $202.0 million and Adjusted EBITDA* loss was $32.8 million** for the fourth quarter. For the full year 2024, net loss was $331.6 million and Adjusted EBITDA loss was $107.2 million**, better than IonQ’s full year Adjusted EBITDA financial outlook.

*Adjusted EBITDA is a non-GAAP financial measure defined under “Non-GAAP Financial Measures,” and is reconciled to net loss, its closest comparable GAAP measure, at the end of this release.

** Exclusions from Adjusted EBITDA include a non-cash loss in the fourth quarter of $128.5 million and a full year 2024 loss of $117.1 million related to the change in the fair value of IonQ’s warrant liabilities.

Q4 and Recent Commercial Highlights

Q4 and Recent Corporate Highlights

Q4 and Recent Technical and Manufacturing Highlights

2025 Financial Outlook

  • For the full year 2025, IonQ expects organic and inorganic revenue to be between $75 million and $95 million, with between $7 million and $8 million for the first quarter.
  • IonQ anticipates an Adjusted EBITDA* loss of $120 million for the full year 2025 at the midpoint of the revenue outlook provided above.

At-the-Market Equity Offering

  • IonQ entered into an equity distribution agreement with Morgan Stanley & Co. LLC and Needham & Company LLC under which it may offer and sell shares of its common stock having an aggregate offering price of up to $500 million, pursuant to an “at-the-market” equity offering program.

Fourth Quarter 2024 Conference Call

IonQ will host a conference call today at 4:30 p.m. Eastern time to review the Company’s financial results for the fourth quarter ended December 31, 2024 and to provide a business update. The call will be accessible by telephone at 877-407-4078 (domestic) or +1-201-689-8471 (international). The call will also be available live via webcast on the Company’s website here, or directly here. A telephone replay of the conference call will be available approximately three hours after its conclusion at 844-512-2921 (domestic) or 412-317-6671 (international) with access code 13748910 and will be available until 11:59 p.m. Eastern time, March 12, 2025. An archive of the webcast will also be available here shortly after the call and will remain available for one year.

Non-GAAP Financial Measures

To supplement IonQ’s condensed consolidated financial statements presented in accordance with GAAP, IonQ uses non-GAAP measures of certain components of financial performance. Adjusted EBITDA is a financial measure that is not required by or presented in accordance with GAAP. Management believes that this measure provides investors an additional meaningful method to evaluate certain aspects of the Company’s results period over period. Adjusted EBITDA is defined as net loss before interest income, interest expense, income tax expense, depreciation and amortization expense, stock-based compensation, change in fair value of assumed warrant liabilities, and other non-recurring non-operating income and expenses. IonQ uses Adjusted EBITDA to measure the operating performance of its business, excluding specifically identified items that it does not believe directly reflect its core operations and may not be indicative of recurring operations. The presentation of non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the financial results prepared in accordance with GAAP, and IonQ’s non-GAAP measures may be different from non-GAAP measures used by other companies. IonQ shows a reconciliation of GAAP to non-GAAP financial measures at the end of this release.

About IonQ

IonQ, Inc. is a leader in the quantum computing and networking industries, delivering high-performance systems aimed at solving the world’s largest and most complex commercial and research use cases. IonQ’s current generation quantum computers, IonQ Forte and IonQ Forte Enterprise, are the latest in a line of cutting-edge systems, boasting 36 algorithmic qubits. The company’s innovative technology and rapid growth were recognized in Newsweek’s 2025 Excellence Index 1000, Forbes’ 2025 Most Successful Mid-Cap Companies list, and Built In’s 2025 100 Best Midsize Places to Work in Washington DC and Seattle, respectively. Available through all major cloud providers, IonQ is making quantum computing more accessible and impactful than ever before. Learn more at IonQ.com.

IonQ Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast,” “offers” and other similar expressions are intended to identify forward-looking statements. These statements include those related to IonQ’s position in the quantum networking sector; the closing of its transaction to acquire a majority interest in ID Quantique SA and the expected association of ID Quantique SA employees and control of ID Quantique patents; the benefits of the expected strategic partnership with SK Telecom; IonQ’s research with an delivery of hardware and technology under its contracts with AFRL; the expected benefits of IonQ’s acquisition of substantially all of the assets of Qubitekk, Inc. and its intended acquisition of a majority interest in ID Quantique SA; the advancement of quantum networking technology; third party expectations of the size of the quantum networking market; the expected benefits of IonQ’s partnership with the University of Maryland and the State of Maryland; IonQ’s global commercial expansion and its expansion into the government and defense sectors; IonQ’s expected strategic partnership with SK Telecom and the potential benefits thereunder; the Company’s technology driving commercial advantage in the future; the Company’s future financial and operating performance, including our preliminary outlook and guidance; the ability for third parties to access IonQ’s systems and implement IonQ’s offerings to solve their problems and increase their quantum computing and networking capabilities; the strength of IonQ’s sales pipeline; IonQ’s quantum computing and quantum networking capabilities and plans; future deliveries of and access to IonQ’s quantum computers and services; future development of specific quantum computing and networking technologies by IonQ; future purchases of IonQ’s offerings by customers using congressionally-appropriated funds from the U.S. government; hiring and employment resulting from IonQ’s collaborations with third parties; IonQ’s performance of existing contracts in the future, including anticipated timing of completion of research, development and manufacturing by IonQ; IonQ receiving additional revenues under planned subsequent phases of customer contracts; and the scalability and reliability of IonQ’s quantum computing offerings. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: changes in the competitive industries in which IonQ operates, including development of competing technologies; our ability to sell effectively to government entities and large enterprises; changes in laws and regulations affecting IonQ’s and its suppliers’ businesses; IonQ’s ability to implement its business plans, forecasts and other expectations, to identify and realize partnerships and opportunities, and to engage new and existing customers; its inability to effectively enter new markets; IonQ’s ability to deliver services and products within currently anticipated timelines; its inability to attract and retain key personnel; the conditions for closing the acquisition of a majority interest in ID Quantique SA not being met; IonQ’s and SK Telecom’s failure to conclude a binding agreement for a strategic partnership; IonQ’s customers deciding or declining to extend contracts into new phases; the inability of its suppliers to deliver components that meet expectations timely; IonQ’s ability to identify and engage employees and service providers, due to factors including the expertise of potential candidates and IonQ’s internal recruiting and human resources abilities and ability to offer competitive compensation; changes in U.S. government spending or policy that may affect IonQ’s customers; changes to U.S. government goals and metrics of success with regard to implementation of quantum computing and quantum networking; and risks associated with U.S. government sales, including availability of funding and provisions that allow the government to unilaterally terminate or modify contracts for convenience. You should carefully consider the foregoing factors and the other risks and uncertainties disclosed in the Company’s filings, including but not limited to those described in the “Risk Factors'' section of IonQ’s most recent Quarterly Report on Form 10-Q and other documents filed by IonQ from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and IonQ assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. IonQ does not give any assurance that it will achieve its expectations.

IonQ, Inc.
Consolidated Statements of Operations
(unaudited)
(in thousands, except share and per share data)

 

 

Three Months Ended
December 31,

 

 

Year Ended
December 31,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Revenue

 

$

11,710

 

 

$

6,106

 

 

$

43,073

 

 

$

22,042

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue (excluding depreciation and amortization)

 

 

5,045

 

 

 

3,163

 

 

 

20,597

 

 

 

8,108

 

Research and development

 

 

40,077

 

 

 

31,620

 

 

 

136,827

 

 

 

92,321

 

Sales and marketing

 

 

8,927

 

 

 

6,981

 

 

 

28,395

 

 

 

18,270

 

General and administrative

 

 

29,660

 

 

 

15,284

 

 

 

71,055

 

 

 

50,722

 

Depreciation and amortization

 

 

5,504

 

 

 

3,506

 

 

 

18,654

 

 

 

10,375

 

Total operating costs and expenses

 

 

89,213

 

 

 

60,554

 

 

 

275,528

 

 

 

179,796

 

Loss from operations

 

 

(77,503

)

 

 

(54,448

)

 

 

(232,455

)

 

 

(157,754

)

Gain (loss) on change in fair value of warrant liabilities

 

 

(128,505

)

 

 

7,581

 

 

 

(117,107

)

 

 

(19,206

)

Interest income, net

 

 

4,141

 

 

 

5,207

 

 

 

18,249

 

 

 

19,322

 

Other income (expense), net

 

 

(111

)

 

 

(235

)

 

 

(275

)

 

 

(85

)

Loss before income tax expense

 

 

(201,978

)

 

 

(41,895

)

 

 

(331,588

)

 

 

(157,723

)

Income tax benefit (expense)

 

 

(20

)

 

 

(9

)

 

 

(59

)

 

 

(48

)

Net loss

 

$

(201,998

)

 

$

(41,904

)

 

$

(331,647

)

 

$

(157,771

)

Net loss per share attributable to common stockholders—
basic and diluted

 

$

(0.93

)

 

$

(0.20

)

 

$

(1.56

)

 

$

(0.78

)

Weighted average shares used in computing net loss per share
attributable to common stockholders—basic and diluted

 

 

217,947,427

 

 

 

205,305,233

 

 

 

213,029,365

 

 

 

202,576,492

 

IonQ, Inc.
Consolidated Balance Sheets
(unaudited)
(in thousands)

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

54,393

 

 

$

35,665

 

Short-term investments

 

 

285,896

 

 

 

319,776

 

Accounts receivable

 

 

10,188

 

 

 

11,467

 

Prepaid expenses and other current assets

 

 

28,325

 

 

 

23,081

 

Total current assets

 

 

378,802

 

 

 

389,989

 

Long-term investments

 

 

23,545

 

 

 

100,489

 

Property and equipment, net

 

 

52,761

 

 

 

37,515

 

Operating lease right-of-use assets

 

 

9,470

 

 

 

4,613

 

Intangible assets, net

 

 

29,469

 

 

 

15,077

 

Goodwill

 

 

9,904

 

 

 

742

 

Other noncurrent assets

 

 

4,437

 

 

 

5,155

 

Total Assets

 

$

508,388

 

 

$

553,580

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

5,230

 

 

$

5,599

 

Accrued expenses and other current liabilities

 

 

16,424

 

 

 

18,376

 

Current portion of operating lease liabilities

 

 

3,366

 

 

 

710

 

Unearned revenue

 

 

10,678

 

 

 

12,087

 

Current portion of stock option early exercise liabilities

 

 

387

 

 

 

392

 

Total current liabilities

 

 

36,085

 

 

 

37,164

 

Operating lease liabilities, net of current portion

 

 

14,359

 

 

 

7,395

 

Unearned revenue, net of current portion

 

 

 

 

 

447

 

Stock option early exercise liabilities, net of current portion

 

 

61

 

 

 

448

 

Warrant liabilities

 

 

70,688

 

 

 

23,004

 

Other noncurrent liabilities

 

 

3,333

 

 

 

128

 

Total liabilities

 

$

124,526

 

 

$

68,586

 

Stockholders’ equity:

 

 

 

 

 

 

Common stock

 

$

22

 

 

$

20

 

Additional paid-in capital

 

 

1,067,403

 

 

 

839,014

 

Accumulated deficit

 

 

(683,720

)

 

 

(352,073

)

Accumulated other comprehensive income (loss)

 

 

157

 

 

 

(1,967

)

Total stockholders’ equity

 

 

383,862

 

 

 

484,994

 

Total Liabilities and Stockholders’ Equity

 

$

508,388

 

 

$

553,580

 

IonQ, Inc.
Consolidated Statements of Cash Flows
(unaudited)
(in thousands)

 

 

Year Ended
December 31,

 

 

 

2024

 

 

2023

 

Cash flows from operating activities:

 

 

 

 

 

 

Net loss

 

$

(331,647

)

 

$

(157,771

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

Depreciation and amortization

 

 

18,654

 

 

 

10,375

 

Non-cash research and development arrangements

 

 

520

 

 

 

520

 

Stock-based compensation

 

 

106,878

 

 

 

69,743

 

(Gain) loss on change in fair value of warrant liabilities

 

 

117,107

 

 

 

19,206

 

Amortization of premiums and accretion of discounts on available-for-sale securities

 

 

(8,804

)

 

 

(9,746

)

Other, net

 

 

4,803

 

 

 

1,474

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

Accounts receivable

 

 

1,609

 

 

 

(8,175

)

Prepaid expenses and other current assets

 

 

(15,200

)

 

 

(14,413

)

Accounts payable

 

 

(601

)

 

 

2,188

 

Accrued expenses and other current liabilities

 

 

(411

)

 

 

3,319

 

Unearned revenue

 

 

(1,752

)

 

 

2,604

 

Other assets and liabilities

 

 

3,161

 

 

 

1,865

 

Net cash provided by (used in) operating activities

 

$

(105,683

)

 

$

(78,811

)

Cash flows from investing activities:

 

 

 

 

 

 

Purchases of property and equipment

 

 

(17,992

)

 

 

(13,703

)

Capitalized software development costs

 

 

(3,905

)

 

 

(4,558

)

Intangible asset acquisition costs

 

 

(1,672

)

 

 

(1,288

)

Purchases of available-for-sale securities

 

 

(296,329

)

 

 

(298,445

)

Maturities of available-for-sale securities

 

 

418,082

 

 

 

386,760

 

Businesses acquired

 

 

(15,454

)

 

 

 

Net cash provided by (used in) investing activities

 

$

82,730

 

 

$

68,766

 

Cash flows from financing activities:

 

 

 

 

 

 

Proceeds from stock options exercised

 

 

8,012

 

 

 

1,954

 

Proceeds from public warrants exercised

 

 

33,437

 

 

 

37

 

Other financing, net

 

 

238

 

 

 

(230

)

Net cash provided by (used in) financing activities

 

$

41,687

 

 

$

1,761

 

Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash

 

 

25

 

 

 

(2

)

Net change in cash, cash equivalents and restricted cash

 

 

18,759

 

 

 

(8,286

)

Cash, cash equivalents and restricted cash at the beginning of the period

 

 

38,081

 

 

 

46,367

 

Cash, cash equivalents and restricted cash at the end of the period

 

$

56,840

 

 

$

38,081

 

IonQ, Inc.
Reconciliation of Net Loss to Adjusted EBITDA
(unaudited)
(in thousands)

 

 

Three Months Ended
December 31,

 

 

Year Ended
December 31,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Net loss

 

$

(201,998

)

 

$

(41,904

)

 

$

(331,647

)

 

$

(157,771

)

Interest income, net

 

 

(4,141

)

 

 

(5,207

)

 

 

(18,249

)

 

 

(19,322

)

Interest expense

 

 

 

 

 

 

 

 

 

 

 

 

Income tax (benefit) expense

 

 

20

 

 

 

9

 

 

 

59

 

 

 

48

 

Depreciation and amortization

 

 

5,504

 

 

 

3,506

 

 

 

18,654

 

 

 

10,375

 

Stock-based compensation

 

 

39,271

 

 

 

31,194

 

 

 

106,878

 

 

 

69,743

 

(Gain) loss on change in fair value of warrant liabilities

 

 

128,505

 

 

 

(7,581

)

 

 

117,107

 

 

 

19,206

 

Adjusted EBITDA

 

$

(32,839

)

 

$

(19,983

)

 

$

(107,198

)

 

$

(77,721

)

 

IonQ Media Contact:

Jane Mazur

press@ionq.co



IonQ Investor Contact:

investors@ionq.co

Source: IonQ

FAQ

What was IonQ's revenue growth in 2024 compared to the previous year?

IonQ achieved 95% year-over-year growth with revenue of $43.1 million in 2024, compared to $22.0 million in 2023.

How much is IonQ's new Air Force Research Lab project worth?

IonQ secured a $21.1 million project with the Air Force Research Lab for quantum networking needs in national security.

What are IonQ's revenue projections for 2025?

IonQ expects organic and inorganic revenue between $75-95 million for 2025, with Q1 projected at $7-8 million.

How many patents will IonQ control after acquiring ID Quantique?

Following the ID Quantique acquisition, IonQ will control nearly 900 granted and pending patents in quantum technology.

What was IonQ's cash position at the end of 2024?

IonQ reported cash, cash equivalents, and investments of $363.8 million as of December 31, 2024.

Ionq Inc

NYSE:IONQ

IONQ Rankings

IONQ Latest News

IONQ Stock Data

6.43B
195.86M
9.82%
35.36%
12.59%
Computer Hardware
Services-computer Integrated Systems Design
Link
United States
COLLEGE PARK