IONQ
IonQ Inc
Q4 2024 Report
IonQ Inc (IONQ) Q4 2024 Financial Results: Quantum Computing's Best Year Yet, A Look into 2025...
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Executive Summary
IonQ Inc. reported a strong Q1 2024 performance, achieving revenue of $7.6 million, exceeding management's guidance by approximately 14% and marking the tenth consecutive quarter of revenue outperformance since going public. However, the company continues to experience increasing operating losses, with a net loss of $39.6 million. Despite these losses, management expressed a strong confidence in the future, driven by new production systems in development and an expanding bookings pipeline. The company has raised its bookings guidance to between $75 million and $95 million for 2024, fueled by strong demand and significant opportunities arising post-U.S. federal budget approval.
Key Performance Indicators
Revenue
7.58M
QoQ: 24.17% | YoY:76.94%
Gross Profit
4.17M
55.00% margin
QoQ: 41.62% | YoY:28.29%
Operating Income
-52.88M
QoQ: 2.89% | YoY:-88.69%
Net Income
-39.59M
QoQ: 5.52% | YoY:-44.82%
EPS
-0.19
QoQ: 5.00% | YoY:-35.71%
Revenue Trend
Margin Analysis
Key Insights
**Revenue Performance**: IonQ's Q1 2024 revenue of $7.6 million represents a 76.94% increase year-over-year and a 24.17% increase quarter-over-quarter. **Profitability Metrics**: The gross profit margin stands at 55%, driven by increased efficiencies in contract delivery. However, operating expenses reached $60.5 million, indicating a substantial investment in R&D and marketing efforts. **Net Income**: The company reported a net loss of $39.6 million with an adjusted EBITDA loss of ...