IonQ Inc. (NYSE:IONQ) reported its fourth-quarter results after Wednesday's closing bell. Here's a look at the details from the report and additional announcements from the company.
The Details: IonQ reported quarterly losses of 93 cents per share, which missed the analyst consensus estimate of a loss of 21 cents. Quarterly revenue came in at $11.71 million, which beat the analyst consensus estimate of $9.93 million and is an increase over revenue of $6.11 million from the same period last year.
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“We had IonQ’s best year yet in 2024, exceeding the high ends of both our bookings and revenue guidance ranges and making truly significant technical strides,” said Peter Chapman, IonQ’s executive chair.
“As we enter 2025, IonQ has a strong pipeline that we believe will enable us to lead in the era of commercial advantage. Last year, our rapidly expanding quantum networking business line closed three major networking contracts. McKinsey expects the quantum networking industry to be worth $10-$15 billion per year within the next decade,” noted Chapman.
IonQ announced an at-the-market equity offering under which it may offer and sell shares of its common stock having an aggregate offering price of up to $500 million.
Additionally, the company announced two definitive agreements with SK Telecom and ID Quantique. One is to acquire a controlling stake in ID Quantique, and the other is to enter into a strategic partnership focused on quantum with SK Telecom. The transactions will be paid in IonQ common stock.
IonQ also announced that the company’s board of directors appointed Niccolo de Masi as president and CEO, effective immediately, and Peter Chapman will continue in the leadership role of IonQ’s executive chair.
IONQ Price Action: According to data from Benzinga Pro, IonQ shares are down 10.93% after hours at $26.66 Wednesday.
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Image courtesy of IonQ, Inc.
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