IonQ(US:IONQ)2025-02-26 21:05Financial Performance - IonQ reported full year revenue of $43.1 million, representing a 95% year-over-year growth compared to $22.0 million in the prior year[8]. - Full year bookings reached $95.6 million, exceeding the high end of the previously announced guidance range of $75 million to $95 million[7]. - IonQ recognized revenue of $11.7 million for Q4 2024, surpassing the guidance range of $7.1 million to $11.1 million[8]. - Revenue for Q4 2024 reached $11,710 million, a significant increase from $6,106 million in Q4 2023, representing an increase of 92% year-over-year[21]. - Total operating costs and expenses for the year ended December 31, 2024, were $275,528 million, up from $179,796 million in 2023, reflecting a 53% increase[21]. - Net loss for Q4 2024 was $201,998 million, compared to a net loss of $41,904 million in Q4 2023, indicating a substantial increase in losses[21]. - The company reported a total net cash used in operating activities of $105,683 million for the year ended December 31, 2024, compared to $78,811 million in 2023[25]. - Adjusted EBITDA for Q4 2024 was $(32,839) million, compared to $(19,983) million in Q4 2023, indicating a worsening of operational performance[27]. Research and Development - Research and development expenses for the year ended December 31, 2024, totaled $136,827 million, up from $92,321 million in 2023, marking a 48% increase[21]. - The company incurred stock-based compensation expenses of $106,878 million for the year ended December 31, 2024, compared to $69,743 million in 2023, an increase of 53%[25]. Strategic Initiatives - IonQ announced a new $21.1 million project with the Air Force Research Lab to address quantum networking needs for national security[8]. - IonQ signed a definitive agreement to acquire a majority stake in ID Quantique, increasing its control of networking patents to nearly 900[12]. - The company launched its quantum operating system, IonQ Quantum OS, and a new capabilities suite named IonQ Hybrid Services[12]. - IonQ's quantum networking business closed three major contracts, with the industry expected to be worth $10-15 billion annually within the next decade[3]. Cash and Equity - IonQ's cash, cash equivalents, and investments totaled $363.8 million as of December 31, 2024[8]. - Cash and cash equivalents at the end of Q4 2024 were $54,393 million, compared to $35,665 million at the end of Q4 2023, showing an increase of 52%[23]. - The total stockholders' equity decreased to $383,862 million as of December 31, 2024, down from $484,994 million in 2023, reflecting a decline of 21%[23]. Future Outlook - For 2025, IonQ expects organic and inorganic revenue to be between $75 million and $95 million, with an Adjusted EBITDA loss of $120 million at the midpoint[18].