IonQ (NYSE:IONQ) Q4 2025 Earnings call February 25, 2026 04:30 PM ET Company ParticipantsInder M. Singh - CFO and COOJordan Shapiro - Director of Investor RelationsNiccolo de Masi - Chairman and CEOShaun Cunningham - Equity Research AssociateConference Call ParticipantsCraig Ellis - Director of Research, Senior Semiconductor, and Capital Equipment AnalystDavid Williams - Managing Director and Senior Equity Research AnalystJohn McPeake - Managing Director and Senior Research AnalystKevin Garrigan - SVP and E ...

IonQ (NYSE:IONQ) Q4 2025 Earnings call February 25, 2026 04:30 PM ET Company ParticipantsInder M. Singh - CFO and COOJordan Shapiro - Director of Investor RelationsNiccolo de Masi - Chairman and CEOShaun Cunningham - Equity Research AssociateConference Call ParticipantsCraig Ellis - Director of Research, Senior Semiconductor, and Capital Equipment AnalystDavid Williams - Managing Director and Senior Equity Research AnalystJohn McPeake - Managing Director and Senior Research AnalystKevin Garrigan - SVP and E ...

IonQ (NYSE:IONQ) Q4 2025 Earnings call February 25, 2026 04:30 PM ET Speaker7Welcome to the IonQ 4th quarter 2025 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then 1 on a touch-tone phone. To withdraw your question, please press star, then 2. Please note this event ...

Monarch Quantum Selected to Deliver Integrated Photonics Quantum Light Enginesâ"¢ for NASA's First Planned Space-Based Quantum Gravity Gradiometer [Accessibility Statement] Skip NavigationSAN DIEGO, Feb. 25, 2026 /PRNewswire/ -- Monarch Quantum, Inc., a U.S.-based quantum photonics company specializing in integrated photonics systems for quantum computing, quantum sensing, and quantum communications, today announced its selection to deliver Quantum Light Enginesâ"¢ for NASA's Jet Propulsion Laboratory (JPL) ...

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $58 million, exceeding the midpoint of the outlook by $1 million, representing an 8% sequential growth and flat compared to the prior year period [5][15] - Full year revenue reached $217.4 million, with non-GAAP operating loss of $10.1 million, improving from $11.3 million in the previous quarter and $14.2 million a year ago [15] - The company exited the quarter with total cash and cash equivalents of $155.7 million, a decrease of $15.5 million from the third quarter [16] Business Line Data and Key Metrics Changes - The radar business is gaining traction with a Tier 1 partner, with initial shipments starting in December and expected demand exceeding 50 million units annually [9][10] - The vision portfolio is seeing momentum with design wins for image signal processor SoCs, including the IND880, and new opportunities arising from DRAM-less architecture [10][11] - The company secured a design win with a leading electric vehicle manufacturer in China for a camera mirror system, expected to ramp in mid-2026 [11] Market Data and Key Metrics Changes - The automotive industry is transitioning towards standardization of ADAS features, creating significant opportunities for the company [5][6] - The humanoid robotics market is moving from research to real-life applications, with the company actively pursuing opportunities in this space [6][7] - The company is also gaining traction in the quantum communications and sensing markets, with significant bookings for LXM lasers [12] Company Strategy and Development Direction - The company aims to leverage technology investments to capitalize on the mass-market ADAS segments and expand into humanoid robotics [6][8] - The strategy includes expanding production capabilities and securing additional back-end and test capacity to meet growing demand [9] - The company is focused on managing operating expenses while preparing for strong growth through design wins in 2026 [19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the automotive market's transformation and the company's positioning to meet emerging needs [5][20] - The company anticipates a decline in first-quarter revenue from Wuxi due to reduced EV subsidies and expects core business revenue to grow by 20% sequentially [18] - Management acknowledged ongoing supply chain constraints but is confident in their ability to manage through 2026 [36][37] Other Important Information - The company is in the process of selling its equity interest in Wuxi Indie Micro for approximately $135 million, with the transaction expected to close by late 2026 [17] - The Qi 2.0 wireless charging platform production with Ford is on track for the first half of 2026, with additional OEM adoption expected [12][13] Q&A Session Summary Question: What was the Wuxi revenue for Q4? - The revenue was around $29.7 million [23] Question: What are the reasons for the sequential decline in revenue? - The decline is primarily due to the upcoming Chinese New Year shutdown and reduced EV subsidies [24] Question: What is expected for the ramp in Q2? - A recovery is expected in Q2, despite the ongoing sale of the business [25] Question: Can you provide updates on radar program ramp expectations? - Significant progress has been made, with strong traction among OEMs and discussions on next-generation products [26] Question: What impact do supply chain constraints have in Q1? - There was a trailing impact into Q1, with some demand still uncertain based on supply [27] Question: Any updates on design wins and traction for core business? - The company is performing well across all regions, with exposure to OEMs in Europe, Asia, and India [33] Question: What is the size of the opportunity in robotics and quantum space? - The robotics market is showing significant activity, while quantum applications are expected to triple in revenue through 2026 [35] Question: What is the timeline for resolving supply chain constraints? - The tightness is driven by AI demand, with improvements expected in 2027 [36][37] Question: What are the expected radar revenues for 2026? - Radar revenue is expected to remain in the $30 million-$50 million range, with strong momentum from newer OEMs [40] Question: What percentage of core business remains in China? - Approximately 20% of the core business remains in China [42]

Core Insights - Infleqtion is recognized as a global leader in quantum sensing and quantum computing, focusing on atom-based quantum technology for both commercial and government applications [1] - Dr. Dana Anderson has been inducted into the National Academy of Engineering for his contributions to optical quantum engineering of ultracold atoms, highlighting the company's commitment to innovation and excellence in the field [1] - Infleqtion plans to go public through a merger with Churchill Capital Corp X, indicating a strategic move to enhance its market presence and access capital for growth [1]

Infleqtion's team also includes more than 130 other PhD physicists and engineers — that's all on the technical side of the business. They’ve since teamed up with business leadership in their shift from ColdQuanta to Infleqtion. CEO Matt Kinsella was an early investor in the company. He's been an early investor in several companies including Hims & Hers . He was also managing director at "Tiger Cub" Lee Ainslie's hedge fund Maverick Capital for nearly 20 years.Pranav Gokhale , co-founder and CTO, has an impr ...

Core Insights - Infleqtion successfully demonstrated a live application of quantum sensing and computing technology, showcasing the ability to maintain precise synchronization of digital infrastructure without GPS reliance [1] Company Overview - Infleqtion is recognized as a global leader in quantum sensing and quantum computing, utilizing neutral-atom technology [1] Industry Development - The demonstration was conducted in collaboration with Quantum Corridor, which is characterized as a quantum-safe, ultra-fast, and highly secure fiber-optic network located in the Midwest [1] - The demonstration spanned a distance of 21.8 kilometers, highlighting the practical application of quantum technology in next-generation communication [1]

Core Viewpoint - Quantum Computing Inc. has been selected as the stalking horse bidder for the remaining assets of Luminar Technologies, Inc. as part of Luminar's Chapter 11 bankruptcy process, with a proposed purchase price of approximately $22 million, pending court approval and auction outcomes [1][2]. Group 1: Acquisition Details - The acquisition of Luminar's assets is expected to enhance QCi's capabilities in photonics and quantum optics, expanding its presence across the photonics value chain from chip design to system delivery [3]. - QCi anticipates that the acquired assets will contribute immediate revenue and support its commercial operations through existing customer programs and deployed systems [4]. - The transaction is expected to close in the first quarter of 2026, subject to the completion of the court-supervised auction process [2]. Group 2: Strategic Implications - The acquisition aligns with QCi's strategy to build a scalable photonics platform and expand into future quantum sensing verticals, leveraging Luminar's expertise in system integration and optical technologies [5]. - QCi plans to retain key technical and engineering teams from Luminar, continuing investment in R&D to support its broader photonics and quantum technology strategy [4][5]. - The integration of Luminar's LiDAR technology is expected to provide real-world performance feedback that will accelerate QCi's transition from research to fielded systems, enhancing its capabilities in quantum sensing, computing, communication, and photonic AI [5]. Group 3: Company Overview - Quantum Computing Inc. specializes in quantum optics and integrated photonics technology, offering accessible quantum machines and foundry services for photonic chip production [6]. - The company's products are designed to operate at room temperature and low power, targeting applications in high-performance computing, artificial intelligence, and cybersecurity [6].

Core Viewpoint - Churchill Capital Corp X (CCCX) is considered an interesting investment opportunity, particularly in the context of quantum stocks, which have experienced significant market movements since the last analysis [1]. Group 1: Investment Thesis - The investment thesis for CCCX has been outlined in detail previously, emphasizing the SPAC structure and its potential benefits [1]. Group 2: Analyst Background - The analyst has a diverse professional background across multiple industries, including logistics, construction, and retail, which contributes to a comprehensive investment perspective [1]. - The analyst's international education and career experiences provide a global outlook, enhancing the ability to analyze market dynamics from various cultural and economic viewpoints [1]. Group 3: Investment Strategy - The investment strategy focuses on cyclical industries, which are believed to offer significant returns during economic recovery and growth phases [1]. - A diversified portfolio is maintained, incorporating bonds, commodities, and forex to balance risk [1].