Core Insights - The quantum-computing company reported a revenue of $3.7 million in the third quarter [1] Financial Performance - The company achieved $3.7 million in revenue during the third quarter [1]

Group 1 - IBM stock has outperformed all members of the Magnificent Seven, except Nvidia and Alphabet, indicating strong market performance [1] - The article references a historical context of IBM's recovery from near-bankruptcy, highlighting its resilience over 114 years [1] Group 2 - D-Wave reported a smaller-than-expected Q3 loss, with revenue exceeding expectations, although the stock fell [2] - IonQ's earnings missed expectations, but revenue beat forecasts, reflecting mixed results in the quantum computing sector [4]

Group 1 - IBM stock has outperformed all members of the Magnificent Seven, except Nvidia and Alphabet, indicating strong market performance [1] - The article references a historical context of IBM's recovery from near-bankruptcy, highlighting its resilience over 114 years [1] Group 2 - D-Wave reported a smaller-than-expected Q3 loss, with revenue exceeding expectations, although the stock fell [2] - IonQ's earnings missed expectations, but revenue beat forecasts, reflecting mixed results in the quantum computing sector [4]

Q3 2025 Investor Presentation Forward-Looking Statements Certain statements in this presentation are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, in ...

Core Insights - D-Wave Quantum reported a smaller-than-expected third-quarter loss and revenue that exceeded expectations, indicating a positive outlook for growth and profitability in the quantum computing sector [1][2] - Despite the positive earnings report, D-Wave's stock initially rose but then fell by 3.5%, reflecting volatility in the quantum computing market [2][6] Financial Performance - For the September quarter, D-Wave reported a 5-cent adjusted loss compared to a 12-cent loss a year earlier, with revenue increasing nearly 100% to $3.7 million, surpassing Wall Street's forecast of a 7-cent loss on $3 million revenue [2] - D-Wave's stock had previously surged approximately 223% in 2025 before retreating from a record high of 46.75 set on October 15 [2] Partnerships and Projects - D-Wave announced a partnership with the Italian government for a booking of 10 million euros for 50% capacity of a D-Wave Advantage2™ quantum computer for a research facility in Lombardy, spanning five years [3] - The company is also working on a new quantum project with Davidson Technologies, which holds an option to purchase a quantum system [5] Market Position and Technology - D-Wave is recognized as a leading developer of quantum technology, specifically in "quantum annealing," and has been a pioneer in the field since its founding in 1999 [6] - Quantum computing stocks, including D-Wave, have experienced volatility in 2025, influenced by market controversies surrounding the timeline for commercially viable quantum technology [6] Stock Ratings - D-Wave stock holds a Composite Rating of 85 out of a best-possible 99, indicating strong growth potential [7] - The stock also has an Accumulation/Distribution Rating of A, suggesting heavy institutional buying over the past 13 weeks [8]

Core Viewpoint - IonQ's shares rose 4.8% in after-hours trading following a strong Q3 2025 report, driven by revenue that exceeded Wall Street expectations and an increase in full-year revenue guidance [1][5]. Financial Performance - Q3 2025 revenue reached $39.9 million, a significant increase of 222% compared to Q3 2024's $12.4 million [4]. - GAAP operating income showed a loss of $168.8 million in Q3 2025, widening by 218% from a loss of $53.1 million in Q3 2024 [4]. - GAAP net income for Q3 2025 was a loss of $1.05 billion, a dramatic increase of 1,908% from a loss of $52.5 million in Q3 2024 [4]. - GAAP earnings per share (EPS) for Q3 2025 was a loss of $3.58, compared to a loss of $0.24 in Q3 2024 [4]. - Non-GAAP (adjusted) EPS for Q3 2025 was a loss of $0.17, widening by 55% from a loss of $0.11 in Q3 2024 [4]. Market Expectations - Analysts had expected a GAAP EPS of $0.44 on revenue of $27 million, indicating that while IonQ exceeded revenue expectations, it significantly missed on the bottom line [5][8]. - The company surpassed its revenue guidance of $25 million to $29 million [5]. Operational Insights - IonQ's operational spending for the first three quarters of the year was $208.7 million, compared to $66.3 million in the same period last year [6]. - The company ended the quarter with $1.5 billion in cash, cash equivalents, and short-term investments, and raised $2 billion in a stock offering shortly after the quarter ended [6]. Acquisitions - IonQ completed the acquisition of U.K.-based Oxford Ionics during the third quarter, which is expected to enhance scale, stability, and cost savings through existing semiconductor manufacturing [9].

Core Insights - Quantum computing stocks have significantly outperformed AI stocks over the past year, with D-Wave Quantum and Rigetti Computing seeing gains of 2,700% and 3,100% respectively, while Quantum Computing and IonQ increased by 1,100% and 250% [1][6][9] - The momentum behind quantum stocks is attributed to technological breakthroughs and increased visibility from major tech companies like Google and Microsoft [7][8] Quantum Stock Performance - Quantum stocks have shown dramatic increases compared to AI stocks, with Nvidia rising 206% and Super Micro Computer 212% in the year following the release of ChatGPT, which is significantly lower than the gains seen in quantum stocks [2][4] - The market capitalizations of leading quantum companies range from $2.5 billion to $18.5 billion, which are considerably smaller than Nvidia's $5 trillion market cap [9] Technological Developments - Major advancements in quantum technology, such as Google's Willow quantum chip, which can solve complex problems in minutes, have heightened interest and investment in the sector [7][8] - Despite achieving a fidelity of 99.99%, quantum computers still face challenges in reaching the necessary accuracy to outperform classical computers, with estimates suggesting a need for 99.9999% fidelity [12][11] Market Potential - The quantum computing market is projected to reach $97 billion by 2035 and nearly $200 billion by 2040, indicating significant future growth potential [13] - The Trump administration's interest in public-private partnerships for quantum computing has also contributed to the recent surge in stock prices, despite denials of specific investment plans [10]

The next big stock could be this leading player in quantum computing.IonQ (IONQ +3.63%) has positioned itself as a major pure-play quantum computing company, utilizing trapped-ion qubit technology. Here, charged atoms are confined using electromagnetic fields and then manipulated with precise laser pulses to enable highly accurate and stable quantum computations.IonQ is seeing increased adoption of its quantum computing technology by governments, enterprises, and cloud computing providers. In the second qua ...

Group 1 - The U.S. major stock indices are close to historical highs despite recent mild weakness, indicating potential underlying issues in the market [1] - SentimenTrader's report highlights concerning signals related to the number of stocks participating in the recent rally, suggesting a possible period of sustained weakness ahead [1][2] - The "Titanic Syndrome" has flashed four times in the past five trading days, while the "Hindenburg Omen" has triggered twice, both indicating potential market trouble when they cluster [1][2] Group 2 - The "Titanic Syndrome" and "Hindenburg Omen" indicators are triggered during market breadth deterioration, where a few stocks drive index gains while most are declining [2] - Weak market breadth suggests that indices are more vulnerable to sell-offs, especially when the Nasdaq is near historical highs and the number of stocks hitting 52-week lows exceeds those hitting new highs [2] - Analysts emphasize that while these signals may not be alarming individually, their occurrence in clusters significantly increases their warning power [2] Group 3 - Extreme bullish indicators, significant breadth divergence, and complacent market sentiment are seen as a dangerous combination by analysts [3] - Speculative stocks, including popular quantum computing names, have faced pressure recently, with momentum trading experiencing sell-offs [3] - The S&P 500 index recently rebounded after its worst day in nearly a month, indicating some resilience in the market despite broader concerns [3]

来源：智通财经网 尽管量子计算公司IonQ(IONQ.US)营收超出预期，但由于一系列收购活动，公司亏损仍超出预期。财报 显示，IonQ三季度营收达 3987 万美元，同比增长 221.5%，超出预期 1288 万美元；调整后每股亏损为 0.17 美元，超出预期 0.03 美元。 IonQ第三季度净亏损11亿美元，调整后EBITDA亏损4890万美元，每股亏损3.58美元，调整后每股亏损 0.17美元。业绩公布后，该股盘后涨超5%。 IonQ同时重申了其调整后EBITDA亏损的中值预期，亏损范围为2.06亿美元至2.16亿美元。 截至 2025 年 9 月 30 日，公司持有的现金、现金等价物和投资为 15 亿美元；按 2025 年 10 月 14 日完成 的 20 亿美元股权发行计算，预计现金、现金等价物和投资为 35 亿美元。 该公司在三季度完成对 Oxford Ionics 和 Vector Atomic 的收购，加速并加强 IonQ 的全栈量子平台。 该公司目前预计2025年营收将在1.06亿美元至1.1亿美元之间，高于此前9133万美元的预期，也远高于该 公司此前8200万美元至1亿美元的预期范围。 ...