"We are generating a strong foundation for what we expect will be another incredible year for IonQ."
— Thomas Kramer (CFO)
03Detailed Report
IONQ
IonQ Inc
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 29, 2026
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Executive Summary
IonQ Inc recorded a remarkable financial performance in Q4 2024, achieving revenues of $11.7 million, marking a 91.78% increase year-over-year. Total bookings surged to $95.6 million, a notable 47% increase compared to last year, driven by strategic acquisitions and a growing market demand for quantum solutions. The company's comprehensive approach towards enhancing its core offerings in quantum networking, as underscored by the acquisition of Qubitekk and the announced acquisition of ID Quantique, aims at establishing IonQ as a leader in the sector. Management emphasized that 2025 is expected to be a pivotal year for the company, positioning itself for inflection in quantum market growth. Despite a significant net loss of $202 million for the quarter and $331.6 million for the year, driven by increased operational investments, the outlook remains optimistic with projected 2025 revenue guidance between $75 million and $95 million.
Key Performance Indicators
Revenue
Increasing
11.71M
QoQ: -5.56% | YoY: 91.78%
Gross Profit
Increasing
10.97M
93.68% margin
QoQ: 86.41% | YoY: 272.75%
Operating Income
Decreasing
-77.50M
QoQ: -45.86% | YoY: -42.34%
Net Income
Decreasing
-202.00M
QoQ: -284.79% | YoY: -382.05%
EPS
Decreasing
-0.95
QoQ: -295.83% | YoY: -375.00%
Revenue Trend
Margin Analysis
Financial Highlights
Financial Performance
- Revenue: Q4 2024 revenue reached $11.7 million, nearly double compared to the prior year, driven by an increase in bookings and market demand.
- Operating Expenses: Total operating expenses were $89.2 million for the quarter, up 47% from the prior year, with an emphasis on R&D and G&A costs to support growth.
- Net Income: The company reported a net loss of $202 million for Q4 2024 compared to a loss of $41.9 million in Q4 2023.
- EPS: Diluted EPS was -$0.95.
- Bookings: Total bookings for 2024 amounted to $95.6 million, reflecting robust demand.
Liquidity Ratios:
- Current Ratio: 10.50, indicating strong short-term liquidity.
- Cash Position: As of December 31, 2024, IonQ had $363.8 million in cash and cash equivalents, providing significant runway for ongoing operations and investments.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
11.71M
91.78%
-5.56%
Gross Profit
10.97M
272.75%
86.41%
Operating Income
-77.50M
-42.34%
-45.86%
Net Income
-202.00M
-382.05%
-284.79%
EPS
-0.95
-375.00%
-295.83%
Key Financial Ratios
Gross Profit Margin
Excellent
93.70%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Weak
-6.62%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
-17.25%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
-0.40%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.53%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
10.50
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.05
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Negative
-11.01x
Negative earnings make P/E ratio not meaningful
Price to Book
High Premium
23.18x
Very high premium suggests asset-light business model or lofty expectations
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