IonQ Announces Fourth Quarter and Full Year 2024 Financial Results
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.
- 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
- 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
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
While the
The company's
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
, Representing$43.1 Million 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
“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
“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
Financial Highlights
-
IonQ recognized revenue of
for the quarter, exceeding the high end of the previously announced guidance range of$11.7 million to$7.1 million .$11.1 million -
IonQ recognized revenue of
for the full year, exceeding the high end of the previously announced guidance range of$43.1 million to$38.5 million . This represents$42.5 million 95% annual growth compared to in the prior year.$22.0 million -
IonQ achieved
in new bookings for the full year and$95.6 million for the fourth quarter, exceeding the high end of the previously announced full year financial guidance range of$22.7 million to$75 million .$95 million -
Cash, cash equivalents, and investments were
as of December 31, 2024.$363.8 million -
Net loss was
and Adjusted EBITDA* loss was$202.0 million ** for the fourth quarter. For the full year 2024, net loss was$32.8 million and Adjusted EBITDA loss was$331.6 million **, better than IonQ’s full year Adjusted EBITDA financial outlook.$107.2 million
*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
Q4 and Recent Commercial Highlights
-
IonQ announced a new
project to work with the Air Force Research Lab on addressing crucial quantum networking needs for national security.$21.1 million -
IonQ announced a landmark partnership with the University of
Maryland and theState of Maryland to fuel the growing quantum economy in theU.S. capitol region, provide access to IonQ’s cutting-edge quantum technology, and dramatically strengthen Maryland’s workforce with new quantum-focused jobs in an initiative worth up to .$1 billion - IonQ announced a partnership with General Dynamics Information Technology, a business unit of General Dynamics, to bring the power of quantum computing to the government and defense sectors.
-
IonQ announced the renewal of its agreement with the Abu Dhabi Quantum Research Center - Technology Innovation Institute in the
United Arab Emirates to continue leveraging IonQ’s quantum computing technology to advance Abu Dhabi’s position as a global leader in science and technology. -
IonQ signed a Memorandum of Understanding (MOU) with the metropolitan government of
Busan , the second largest city inSouth Korea , highlighting a commitment to mutual cooperation in nurturing talent, and advancing quantum technology.
Q4 and Recent Corporate Highlights
-
Today, IonQ announced that it has reached a definitive agreement to acquire a majority stake in ID Quantique SA (IDQ), a global leader in quantum networking and sensing, headquartered in
Geneva andSeoul . IDQ’s technology portfolio in quantum networking will bring the total count of granted and pending patents controlled by IonQ to nearly 900. -
Alongside the IDQ transaction, IonQ expects to enter into a strategic partnership in quantum with SK Telecom, the largest wireless telecommunications operator in the
Republic of Korea . - Last month, IonQ announced the completion of its acquisition of substantially all the assets of Qubitekk, Inc., positioning IonQ at the forefront of quantum networking and computing.
- Today, IonQ named Niccolo de Masi as President and Chief Executive Officer, effective immediately, with Peter Chapman continuing as Executive Chairman of the Board of Directors. De Masi is a seasoned public company chief executive officer and current board member.
- Today, IonQ announced the appointment of Gabrielle Toledano to its Board of Directors. Toledano brings over 30 years of leadership experience across the technology, gaming, and digital transformation sectors, having held senior roles at Tesla, Electronic Arts, Microsoft, Siebel Systems and Oracle.
- IonQ announced several accolades recognizing its commercial success and workplace excellence, including being named to Forbes’ prestigious 2025 list of “America’s Most Successful Mid-Cap Companies,” multiple Built In “2025 Best Places to Work” lists, and Investor’s Business Daily’s (IBD) best companies of 2024 list.
Q4 and Recent Technical and Manufacturing Highlights
-
IonQ announced the delivery of IonQ Forte Enterprise to its first European Innovation Center at uptownBasel in
Switzerland , marking the first datacenter-ready quantum computer IonQ has delivered that will operate outsidethe United States . - IonQ announced the completion of its next-generation ion trap vacuum package prototype intended to realize smaller, more compact, room temperature quantum systems that can sustain Extreme High Vacuum (XHV).
- IonQ announced a technological breakthrough on building scalable quantum computing algorithms, resulting from a collaboration with Oak Ridge National Lab.
- IonQ announced the launch of its quantum operating system, called IonQ Quantum OS, and a collection of new capabilities named IonQ Hybrid Services suite which greatly advances the performance and utility of quantum computing for enterprise customers.
- IonQ announced the completion of an industry-first demonstration of an end-to-end application workflow that leverages the NVIDIA CUDA-Q platform alongside IonQ’s leading quantum computing hardware.
-
IonQ announced the issuance of five new
U.S. patents designed to deliver benefits across multiple industries and applications, bringing IonQ’s total owned or controlled patents and patent applications to nearly 900 with the inclusion of IDQ’s patent portfolio.
2025 Financial Outlook
-
For the full year 2025, IonQ expects organic and inorganic revenue to be between
and$75 million , with between$95 million and$7 million for the first quarter.$8 million -
IonQ anticipates an Adjusted EBITDA* loss of
for the full year 2025 at the midpoint of the revenue outlook provided above.$120 million
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
, pursuant to an “at-the-market” equity offering program.$500 million
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
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
IonQ, Inc.
Consolidated Statements of Operations
(unaudited)
(in thousands, except share and per share data)
|
|
Three Months Ended
|
|
|
Year Ended
|
|
||||||||||
|
|
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—
|
|
$ |
(0.93 |
) |
|
$ |
(0.20 |
) |
|
$ |
(1.56 |
) |
|
$ |
(0.78 |
) |
Weighted average shares used in computing net loss per share
|
|
|
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
|
|
|||||
|
|
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
|
|
|
Year Ended
|
|
||||||||||
|
|
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 |
) |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250226513000/en/
IonQ Media Contact:
Jane Mazur
press@ionq.co
IonQ Investor Contact:
investors@ionq.co
Source: IonQ
FAQ
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