IONQ Inc. (IONQ) shares plunged 17.81% in after-hours trading on Wednesday despite reporting fourth quarter 2024 revenue that beat Wall Street expectations. The sharp sell-off came as the quantum computing company reported large losses for the quarter and provided a softer-than-anticipated revenue outlook for 2025.
For Q4, IONQ posted revenue of $11.7 million, beating consensus estimates of $10.3 million. However, it reported a net loss of $202 million for the quarter and an adjusted EBITDA loss of $32.8 million. For the full year 2024, net loss amounted to $331.6 million on revenue of $43.1 million, up 95% year-over-year.
More concerning for investors was IONQ's 2025 revenue guidance range of $75 million to $95 million, which fell short of analyst expectations of around $83 million. The company also announced plans to raise up to $500 million through an at-the-market equity offering program, potentially diluting existing shareholders.
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