Core Viewpoint - IonQ is gaining significant attention in the quantum computing sector, with its stock price rising by 275% over the past year, drawing comparisons to Palantir Technologies during the AI boom [2][3]. Company Overview - IonQ has established partnerships with major tech companies like Nvidia, Microsoft, Amazon, and Alphabet, indicating a promising future for the company [3]. - Despite impressive revenue growth trends, IonQ generated only $43 million in sales over the last 12 months, which raises questions about the sustainability of its growth rate [5]. Stock Price and Valuation Analysis - IonQ's current market capitalization is approximately $8 billion, resulting in a price-to-sales (P/S) ratio of around 165, which is considered high given the company's ongoing cash burn and lack of significant revenue [6]. - Comparatively, Palantir's P/S ratio stands at 102.75, while other leading enterprise software companies have much lower P/S ratios, highlighting IonQ's overvaluation concerns [9][8]. Competitive Landscape - Major competitors in the quantum computing space, such as Nvidia, Microsoft, Alphabet, and Amazon, have developed their own quantum platforms and chips, posing a challenge for IonQ's long-term competitiveness [12]. - The nascent nature of quantum computing and the intense competition suggest that IonQ may not achieve the same level of predictable future prospects as Palantir, which has established itself in the AI sector [13]. Investment Outlook - The current enthusiasm surrounding IonQ's stock may not be sustainable, and the company is likely to face pressure moving forward, making it a less attractive investment compared to more established opportunities in the AI sector [14].

Core Insights - Many Americans believe they need at least $1.26 million to retire comfortably, but only 3.2% have saved over $1 million in retirement accounts [1][2] Group 1: IonQ - IonQ specializes in quantum computing systems and cloud-based services, utilizing qubits for data processing, which allows for faster computation compared to traditional binary bits [5] - The company measures its quantum computing power in algorithmic qubits (AQ), with its Forte system surpassing 36 AQ and the upcoming Tempo system expected to achieve 64 AQ [6] - IonQ anticipates a revenue growth at a compound annual growth rate (CAGR) of 88% from $43 million to $286 million between 2024 and 2027, despite a high valuation of 27 times its projected 2027 sales [7][8] Group 2: Wolfspeed - Wolfspeed is a leading producer of silicon carbide (SiC) chips, which are essential for various applications including electric vehicles and AI servers [9] - The company faced challenges due to a cooling EV market, prioritization of AI-oriented components, and export restrictions from China, leading to a significant stock decline of nearly 98% [10][11] - Wolfspeed's stock is currently trading at 0.7 times its projected sales for fiscal 2025, presenting a potential opportunity for recovery as analysts expect a 12% CAGR in revenue from fiscal 2025 to fiscal 2027 [11] Group 3: Lumen - Lumen, formerly CenturyLink, focused on expanding its wireline networks and fiber infrastructure, but faced declining revenue from its business wireline segment [12][13] - The stock price fell below $1 due to ongoing losses and the elimination of dividends, but has since recovered to around $4 following contracts with major cloud and AI companies [14] - Lumen has $8.5 billion in active AI infrastructure contracts and is pursuing an additional $7 billion, which could revitalize its business and transform its market position [14][15]

IonQ, Inc. (IONQ) closed the last trading session at $31.27, gaining 19.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $40 indicates a 27.9% upside potential.The mean estimate comprises five short-term price targets with a standard deviation of $7.91. While the lowest estimate of $30 indicates a 4.1% decline from the current price level, the most optimistic analyst expects the ...

Industry Overview - The Zacks Computer – Integrated Systems industry is recovering from supply chain bottlenecks, rising inflation, higher interest rates, and delays in customer acceptance of new products, leading to significant order backlogs [1] - Companies in this industry are investing in data modernization, cybersecurity, remote work enablement, and supply chain modernization to accelerate digital transformation for enterprise customers [2] Industry Trends - There is a surge in demand for integrated solutions driven by investments in IoT, big data analytics, AI, and blockchain, with opportunities in business analytics, cloud computing, and security solutions [4] - The multi-cloud model is being robustly adopted by enterprises for better scalability and resource optimization, expanding the scope for industry participants [6][7] - Emerging economies are expected to play a crucial role in driving future growth as developed markets slow down [7] Challenges - Industry participants face challenges from supply constraints, softening demand for servers, and delays in customer acceptance, contributing to consistent backlog levels [8] - The ongoing semiconductor chip shortage is significantly impacting the industry, complicating the transition to cloud computing and affecting spending across datacenter systems [9] Market Performance - The Zacks Computer – Integrated Systems industry has underperformed the broader Computer and Technology sector and the S&P 500, declining 3.7% over the past year compared to the S&P 500's 20.7% return [14] - The industry is currently trading at a trailing 12-month P/S ratio of 3.69X, below the S&P 500's 5.51X and the sector's 6.85X [17] Company Highlights - **International Business Machines (IBM)**: Experiencing robust revenue growth in its software division, driven by hybrid cloud adoption and strategic acquisitions enhancing its market position [20][21] - **Advanced Micro Devices (AMD)**: Strengthening its competitive position through strategic product development and partnerships, particularly in the enterprise data center space [25][27] - **Micron Technology**: Positioned at the forefront of semiconductor evolution, focusing on high-growth segments like AI and data centers, with a strategic shift towards stable sectors [30][31] - **IonQ**: Leading in quantum computing with a global expansion strategy and significant partnerships, achieving technological milestones that validate its leadership [37][38]

Core Insights - D-Wave Quantum Inc (QBTS) and IONQ Inc (IONQ) reported smaller-than-expected losses and revenue beats for Q1, leading to significant stock price increases [1] - IONQ received a price-target increase from Morgan Stanley to $30, while Needham reduced its target to $50 [1] Company Performance - QBTS shares surged by 39.9% to $9.64, marking the highest level since late March and a year-over-year increase of 598% [2] - IONQ shares rose by 2.2% to $29.80, with a year-over-year gain of 239.3% [3] Technical Analysis - QBTS is bouncing off support from the 100-day moving average, aiming to end a three-day losing streak [2] - IONQ is approaching a long-term resistance level at $32, having reached its highest price since February [3] Options Activity - There is significant call option activity for both companies, with QBTS call volume at 16 times and IONQ at four times the intraday average [4] - The most popular call contract for QBTS is the May 10 call, while for IONQ it is the July 30 call [4]

Financial Data and Key Metrics Changes - The company reported revenue of $7.6 million for Q1 2025, exceeding the midpoint of their guidance range [28] - Total operating costs and expenses increased to $83.2 million, up 38% from $60.5 million in the prior year [29] - The net loss for Q1 was $32.3 million, an improvement from a net loss of $40 million in the prior year [30] - Adjusted EBITDA loss was $30.8 million, compared to a loss of $27 million in the prior year [31] - Cash and cash equivalents stood at approximately $697.1 million at the end of Q1 [32] Business Line Data and Key Metrics Changes - Research and development costs rose to $40 million, up 23% from $32.4 million in the prior year [29] - Sales and marketing costs increased to $8.6 million, up 28% from $6.7 million in the prior year [29] - General and administrative costs surged to $23.8 million, up 70% from $14 million in the prior year [29] Market Data and Key Metrics Changes - The company ended Q1 with nearly $700 million in cash equivalents, indicating a strong financial position to support growth initiatives [24][32] - The geopolitical environment is viewed as a net benefit to the company, enhancing its market opportunities [23] Company Strategy and Development Direction - The company aims to be the leading quantum computing and networking firm, focusing on revenue delivery and the development of AQ64 [12] - Recent acquisitions, including LightSync and Capella, are expected to enhance the company's capabilities in quantum networking and computing [17][20] - The company is committed to building a quantum Internet and has outlined a roadmap to achieve this through strategic partnerships and acquisitions [10][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's momentum and the strategic importance of recent acquisitions for long-term growth [33] - The company is focused on integrating acquired entities to meet US public company reporting standards, which may increase costs in the short term [31] - Management anticipates that the geopolitical landscape will favor the company's initiatives in quantum technology [71] Other Important Information - The company has made significant progress in partnerships, including collaborations with EPB and DARPA, to advance its quantum technology [15][34] - The company is actively working on expanding its ecosystem to ensure it remains the preferred choice for customers in the quantum space [24] Q&A Session Summary Question: Update on recent acquisitions and expected revenue impact - Management believes the acquisitions will strengthen revenue growth and are expected to be accretive in the long term [38] Question: Vision for the quantum Internet - The company aims to build networks that extend over great distances using quantum memory technology, facilitating secure communications [40][41] Question: Technology and IP driving the LightSync acquisition - The acquisition is synergistic for both quantum computing and networking, enhancing throughput and error rates [49][50] Question: Current quantum networks and providers - The company currently operates four quantum networks serving various sectors, including defense and telecommunications [53] Question: Capella's role in improving the platform - Capella's acquisition provides access to revenue-generating applications and enhances capabilities for secure communications in space [70] Question: Focus on quantum computing vs. networking - The company maintains a balanced focus on both quantum computing and networking, viewing both as strong markets for growth [78][82]

Financial Data and Key Metrics Changes - The company reported revenue of $7.6 million for Q1 2025, exceeding the midpoint of their guidance range [27] - Total operating costs and expenses increased to $83.2 million, up 38% from $60.5 million in the prior year [28] - The net loss for Q1 was $32.3 million, an improvement from a net loss of $40 million in the prior year [29] - Adjusted EBITDA loss for Q1 was $30.8 million, compared to a loss of $27 million in the prior year [30] - Cash and cash equivalents at the end of the quarter were approximately $697.1 million [31] Business Line Data and Key Metrics Changes - Research and development costs rose to $40 million, up 23% from $32.4 million in the prior year [28] - Sales and marketing costs increased to $8.6 million, up 28% from $6.7 million in the prior year [28] - General and administrative costs surged to $23.8 million, up 70% from $14 million in the prior year [28] Market Data and Key Metrics Changes - The company has established four quantum networks serving various sectors, including defense and telecommunications [54] - The acquisition of ID Quantique has expanded the company's capabilities in quantum networking [91] Company Strategy and Development Direction - The company aims to be the leading player in quantum computing and networking, focusing on revenue growth and delivering AQ64 [11] - Recent acquisitions, including LightSync and Capella, are expected to enhance the company's quantum networking capabilities and accelerate the development of the quantum Internet [16][21] - The company is committed to building a quantum-safe Internet and addressing the challenges posed by quantum computing to data security [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong balance sheet and the potential for growth driven by geopolitical factors [22] - The company anticipates continued investments to support its quantum computing and networking roadmaps, with a focus on integrating acquired entities [30] - Management highlighted the importance of real-world applications and partnerships in advancing their quantum networking initiatives [44][100] Other Important Information - The company celebrated National Quantum Day and showcased advancements in quantum machine learning [15] - The company is actively involved in DARPA's quantum benchmarking initiative [14] Q&A Session Summary Question: Update on recent acquisitions and expected revenue - Management believes the acquisitions will strengthen revenue growth and are expected to be accretive in the long term [37] Question: Vision for the quantum Internet - The company aims to build networks that extend over great distances using quantum memory technology, enabling connections between locations like Chattanooga and Oak Ridge National Labs [40] Question: Technology and IP driving the LightSync acquisition - The acquisition is synergistic for both quantum networking and computing, enhancing throughput and error rates [49][50] Question: Current quantum networks and providers - The company has four quantum networks serving various sectors, including defense and telecommunications [54] Question: Capella's role in the platform - Capella provides a revenue-generating application for secure communications, enhancing the company's capabilities in space-based quantum networking [70] Question: Updates on the technical roadmap - The development of the tempo system is ongoing, with performance metrics being actively worked on [77] Question: Impact of ID Quantique acquisition on guidance - The acquisition has been factored into internal estimates, contributing to the company's revenue guidance for the year [91] Question: Future of quantum networking adoption - The company sees leading companies beginning to invest in quantum networks for secure communications, indicating a growing market [96]

Financial Performance & Market Opportunity - IonQ预计2025财年收入为7500万美元至9500万美元[13] - 截至2025年3月31日，IonQ的现金、现金等价物和投资为6.971亿美元[13] - 到2035年，量子计算、安全和网络市场的潜在市场规模（TAM）预计将达到870亿美元[13] - 量子计算和网络预计到2040年将创造高达8800亿美元的经济价值[18] Technology & Innovation - IonQ拥有超过950项量子计算和量子网络专利组合（包括已授权和待批准的专利）[12, 21, 23] - IonQ正在开发通往数百万量子比特的路径，这得益于对Lightsynq的拟议收购[8] - IonQ的离子阱架构具有高保真度和连接性，以及较低的纠错开销[8, 39] Commercialization & Partnerships - IonQ是唯一在所有主要云平台上提供量子硬件的公司[13] - IonQ正在通过与EPB的2200万美元交易，开发量子就绪型劳动力[70] - IonQ正在扩展其亚太地区的生态系统，并在日本和韩国签署了谅解备忘录（MOU）[62] Strategic Expansion - IonQ正在通过收购和合作，扩大其全球业务范围，包括收购Qubitekk、Entangled Networks以及ID Quantique的多数股权[61] - IonQ正在开发量子中继器，以扩展量子网络的范围，目标是在中继器之间实现数百公里的距离[88, 90]

Financial Performance - The company reported net losses of $32.3 million and $39.6 million for the three months ended March 31, 2025 and 2024, respectively, with an accumulated deficit of $716.0 million as of March 31, 2025[159]. - Revenue for the three months ended March 31, 2025, was $7.566 million, a decrease of $16, or less than 1%, compared to $7.582 million for the same period in 2024[179]. - Net cash used in operating activities was $33.025 million for the three months ended March 31, 2025, compared to $20.465 million in the same period of 2024[192]. - The company expects to incur significant losses and higher operating expenses for the foreseeable future, with an accumulated deficit of $716.0 million as of March 31, 2025[188]. Expenses - Cost of revenue (excluding depreciation and amortization) increased by $0.901 million, or 26%, to $4.315 million for the three months ended March 31, 2025, from $3.414 million in 2024[180]. - Research and development expenses rose by $7.585 million, or 23%, to $39.953 million for the three months ended March 31, 2025, driven by increased payroll-related expenses[181]. - Sales and marketing expenses increased by $1.909 million, or 28%, to $8.610 million for the three months ended March 31, 2025, primarily due to higher payroll-related expenses[182]. - General and administrative expenses surged by $9.786 million, or 70%, to $23.806 million for the three months ended March 31, 2025, largely due to increased payroll-related expenses and professional service fees[183]. - Depreciation and amortization expenses increased by $2.606 million, or 66%, to $6.561 million for the three months ended March 31, 2025, attributed to higher depreciation associated with capitalized quantum computing system costs[185]. Cash Flow - Net cash provided by investing activities for the three months ended March 31, 2024, was $43.5 million, driven by cash received from maturities of available-for-sale securities of $115.0 million, offset by purchases of available-for-sale securities of $66.6 million[197]. - Net cash provided by financing activities for the three months ended March 31, 2025, was $368.7 million, primarily from proceeds of the 2025 ATM Offering Program and exercised warrants[199]. - Net cash provided by financing activities for the three months ended March 31, 2024, was $1.4 million, mainly from tax withholding receipts related to restricted stock units and proceeds from stock options exercised[199]. - As of March 31, 2025, the company had cash, cash equivalents, and available-for-sale securities totaling $697.1 million, excluding $2.7 million of restricted cash[188]. Strategic Developments - The company announced the acquisition of Lightsynq Technologies, Inc., which developed the first-ever quantum repeater, enhancing its quantum networking capabilities[160]. - A joint development agreement with EPB includes a system sale of a Forte Enterprise system for $22 million to optimize energy grid algorithms[162]. - The company has closed its acquisition of a majority stake in ID Quantique, a leader in quantum-safe networking and detection systems[162]. - The company is progressing on a new headquarters in Maryland, which will be adjacent to DARPA's Quantum Benchmarking Initiative[162]. - The company has been selected by DARPA for the first stage of its Quantum Benchmarking Initiative, aimed at developing industrially useful quantum computers[162]. - The company announced a flagship distributor partnership with Toyota Tsusho Corporation to accelerate quantum computing in Japan, marking its entry into the Japanese market[162]. - The company reported that its quantum computing system achieved results up to 12% faster than classical computing in a collaboration with Ansys[162]. - The company has over 950 owned and controlled patents and patents pending, indicating strong momentum in its technological roadmap[162]. Market Risks - The company is exposed to market risk related to changes in interest rates and concentration of credit, with no material changes since December 31, 2024[204]. - The company has not experienced any material changes to its critical accounting estimates since the last Annual Report on Form 10-K[201]. Fair Value Adjustments - Gain on change in fair value of warrant liabilities increased by $29.867 million, or 346%, to $38.494 million for the three months ended March 31, 2025, due to mark-to-market adjustments[186].

IonQ First Quarter 2025 Financial Results [Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) IonQ reported strong Q1 2025 financial results, exceeding revenue guidance and maintaining a robust cash position, while advancing its quantum roadmap through strategic acquisitions and key commercial partnerships - CEO Niccolo de Masi highlighted a strong start to the year with revenue above guidance and a cash balance of almost **$700 million**[3](index=3&type=chunk) - Announced the intended acquisition of Lightsynq to accelerate both quantum networking and computing roadmaps, leveraging its quantum memory and photonic interconnect technology[3](index=3&type=chunk)[5](index=5&type=chunk)[8](index=8&type=chunk) - Announced a **$22 million** deal with EPB, including the sale of a Forte Enterprise system, to create the first commercial quantum computing and networking hub focused on energy grid optimization[3](index=3&type=chunk)[6](index=6&type=chunk)[10](index=10&type=chunk) - Strengthened its global quantum networking position by closing the acquisition of a controlling stake in ID Quantique and agreeing to acquire Capella[3](index=3&type=chunk)[6](index=6&type=chunk)[10](index=10&type=chunk) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) IonQ reported Q1 2025 revenue of **$7.6 million**, a net loss of **$32.3 million**, and an Adjusted EBITDA loss of **$35.8 million**, with **$697.1 million** in cash and investments Q1 2025 Key Financial Metrics (in millions) | Metric | Value | Note | | :--- | :--- | :--- | | Revenue | $7.6 | Above the midpoint of the previously provided range | | Cash, Cash Equivalents, and Investments | $697.1 | As of March 31, 2025. Balance increased due to a $372.6M ATM facility | | Net Loss | $32.3 | - | | Adjusted EBITDA Loss* | $35.8 | Excludes a non-cash gain of $38.5 million from warrant liabilities | [Commercial & Strategic Highlights](index=1&type=section&id=Commercial%20%26%20Strategic%20Highlights) IonQ expanded its strategic footprint via pending Lightsynq and Capella acquisitions, a **$22 million** EPB deal, and new international partnerships in Japan - Pending acquisition of Lightsynq Technologies to gain expertise in quantum repeaters, quantum memory, and photonic interconnects[6](index=6&type=chunk)[5](index=5&type=chunk)[8](index=8&type=chunk) - Announced a **$22 million** deal with EPB, including a Forte Enterprise system sale, to establish a commercial quantum computing and networking hub[6](index=6&type=chunk)[10](index=10&type=chunk) - Expanded its quantum networking initiative by closing the acquisition of ID Quantique and agreeing to acquire Capella[6](index=6&type=chunk)[10](index=10&type=chunk) - Entered the Japanese market through a distributor partnership with Toyota Tsusho Corporation and an MOU with G-QuAT (AIST)[10](index=10&type=chunk) [Technical & Research Highlights](index=2&type=section&id=Technical%20%26%20Research%20Highlights) IonQ achieved technical milestones including DARPA QBI selection, a **12%** speed improvement with Ansys, and advancements in ion trap prototypes, QEC, and quantum logic gates - Selected for the first stage of DARPA's Quantum Benchmarking Initiative (QBI) to validate the feasibility of industrially useful quantum computers[6](index=6&type=chunk)[10](index=10&type=chunk) - Demonstrated a **12%** speed improvement over classical computing in a blood pump simulation with partner Ansys, showcasing real-world application[3](index=3&type=chunk)[10](index=10&type=chunk) - Completed a next-generation ion trap vacuum package prototype for smaller, room-temperature quantum systems[10](index=10&type=chunk) - Published new research on Quantum Error Correction (QEC) codes optimized for its architecture and on high-speed, mixed-species quantum logic gates[17](index=17&type=chunk) - Expanded its IP portfolio to over **950** owned and controlled patents and patents pending, including contributions from ID Quantique and the pending Lightsynq acquisition[11](index=11&type=chunk) [2025 Financial Outlook](index=3&type=section&id=2025%20Financial%20Outlook) IonQ projects full-year 2025 revenue of **$75-95 million** and Q2 revenue of **$16-18 million** 2025 Revenue Guidance | Period | Revenue Outlook | | :--- | :--- | | Full Year 2025 | $75 million to $95 million | | Q2 2025 | $16 million to $18 million | [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) Q1 2025 unaudited financials reveal stable revenue, increased operating losses from higher investments, and a strengthened balance sheet driven by an ATM offering [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 revenue was **$7.6 million**, with operating expenses rising to **$83.2 million**, resulting in a **$75.7 million** operating loss and a **$32.3 million** net loss after a **$38.5 million** warrant gain Q1 2025 Statement of Operations (in thousands) | Account | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenue | $7,566 | $7,582 | | Total operating costs and expenses | $83,245 | $60,458 | | Loss from operations | $(75,679) | $(52,876) | | Gain on change in fair value of warrant liabilities | $38,494 | $8,627 | | Net loss | $(32,252) | $(39,592) | | Net loss per share | $(0.14) | $(0.19) | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets grew to **$850.1 million** due to cash, liabilities decreased to **$85.0 million**, and stockholders' equity increased to **$765.0 million** Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $159,681 | $54,393 | | Total current assets | $636,984 | $378,802 | | Total Assets | $850,074 | $508,388 | | Total liabilities | $85,026 | $124,526 | | Total stockholders' equity | $765,048 | $383,862 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Q1 2025 net cash used in operations was **$33.0 million** and in investing was **$230.2 million**, offset by **$368.7 million** from financing, resulting in a **$105.5 million** net cash increase Q1 2025 Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(33,025) | $(20,465) | | Net cash (used in) provided by investing activities | $(230,176) | $43,529 | | Net cash provided by financing activities | $368,734 | $1,359 | | Net change in cash, cash equivalents and restricted cash | $105,520 | $24,427 | [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) IonQ utilizes Adjusted EBITDA as a non-GAAP measure to assess core operating performance, reconciling it to net loss by excluding non-cash and non-recurring items - Adjusted EBITDA is defined as net loss before interest, taxes, depreciation, amortization, stock-based compensation, change in fair value of warrant liabilities, and other non-recurring items[14](index=14&type=chunk) [Reconciliation of Net Loss to Adjusted EBITDA](index=8&type=section&id=Reconciliation%20of%20Net%20Loss%20to%20Adjusted%20EBITDA) Q1 2025 Adjusted EBITDA loss was **$35.8 million**, reconciled from a **$32.3 million** net loss by adjusting for **$33.3 million** in stock-based compensation and a **$38.5 million** gain on warrant liabilities Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Account | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net loss | $(32,252) | $(39,592) | | Stock-based compensation | $33,253 | $22,061 | | (Gain) loss on change in fair value of warrant liabilities | $(38,494) | $(8,627) | | Depreciation and amortization | $6,561 | $3,955 | | **Adjusted EBITDA** | **$(35,814)** | **$(26,994)** | [Company Information & Disclosures](index=3&type=section&id=Company%20Information%20%26%20Disclosures) This section details IonQ's quantum computing business, earnings call information, and standard forward-looking statements and risk disclosures - IonQ positions itself as a leader in quantum computing and networking, with its IonQ Forte systems boasting **36 algorithmic qubits**[15](index=15&type=chunk) - The press release contains forward-looking statements subject to risks and uncertainties, and readers are cautioned not to place undue reliance on them[16](index=16&type=chunk)[18](index=18&type=chunk) - A conference call to discuss the financial results was scheduled for 4:30 p.m. Eastern time on the day of the release, with webcast and replay information provided[13](index=13&type=chunk)