IonQ (IONQ, Financial) has teamed up with EPB of Chattanooga to develop a new quantum innovation center designed to bolster Tennessee's position as a leader in quantum technology. The facility, known as the EPB Quantum Center, will be equipped with an IonQ Forte Enterprise quantum computer, which will be utilized by both entities.
This initiative solidifies Chattanooga, Tennessee, as the first city in the U.S. to host a dedicated hub for quantum computing and networking. The center will also incorporate the existing EPB Quantum Network, further enhancing its capabilities with IonQ's support.
The collaboration will see IonQ establishing an office in Chattanooga, focusing on quantum computing, networking, and application development. The aim is to provide specialized training for quantum developers and foster the joint creation of innovative quantum computing algorithms, particularly in the field of energy grid optimization.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for IonQ Inc (IONQ, Financial) is $43.60 with a high estimate of $54.00 and a low estimate of $29.00. The average target implies an upside of 52.95% from the current price of $28.51. More detailed estimate data can be found on the IonQ Inc (IONQ) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, IonQ Inc's (IONQ, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for IonQ Inc (IONQ, Financial) in one year is $73.02, suggesting a upside of 156.15% from the current price of $28.5063. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the IonQ Inc (IONQ) Summary page.
IONQ Key Business Developments
Release Date: February 26, 2025
- Revenue: $43.1 million for the full year 2024, $11.7 million for Q4 2024.
- Bookings: $95.6 million for the full year 2024, $22.9 million for Q4 2024.
- Operating Costs and Expenses: $89.2 million for Q4 2024, $275.5 million for the full year 2024.
- Research and Development Costs: $40.1 million for Q4 2024, $136.8 million for the full year 2024.
- Sales and Marketing Costs: $8.9 million for Q4 2024, $28.4 million for the full year 2024.
- General and Administrative Costs: $29.7 million for Q4 2024, $71.1 million for the full year 2024.
- Net Loss: $202 million for Q4 2024, $331.6 million for the full year 2024.
- Adjusted EBITDA Loss: $32.8 million for Q4 2024, $107.2 million for the full year 2024.
- Cash Equivalents and Investments: $363.8 million as of December 31, 2024.
- 2025 Revenue Guidance: $75 million to $95 million for the full year, $7 million to $8 million for Q1.
- 2025 Adjusted EBITDA Loss Guidance: $120 million at the midpoint of revenue guidance.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- IonQ Inc (IONQ, Financial) achieved a 47% increase in full-year bookings, reaching $95.6 million, and nearly doubled its revenue to $43.1 million, surpassing guidance expectations.
- The company announced the acquisition of a controlling stake in ID Quantique, enhancing its leadership in quantum networking and expanding its patent portfolio to nearly 900 patents.
- IonQ Inc (IONQ) delivered its first Forte Enterprise system to Quantum Basel and the Air Force Research Lab, marking significant progress in its quantum computing capabilities.
- The company is collaborating with major partners like AstraZeneca and General Dynamics Information Technology to develop quantum solutions, showcasing the practical applications of quantum computing.
- IonQ Inc (IONQ) is launching a $500 million at-the-market facility to accelerate its networking business and explore new growth areas, indicating strong future growth potential.
Negative Points
- IonQ Inc (IONQ) reported a net loss of $202 million in the fourth quarter and $331.6 million for the full year 2024, reflecting significant financial challenges.
- The company's operating costs and expenses increased by 47% in the fourth quarter and 53% for the full year, driven by high R&D and sales and marketing expenses.
- Stock-based compensation rose significantly to $106.9 million for the full year 2024, up from $69.7 million in 2023, impacting overall financial performance.
- IonQ Inc (IONQ) anticipates an adjusted EBITDA loss of $120 million for the full year 2025, indicating continued financial pressure.
- The acquisition of ID Quantique is not expected to have a significant impact on 2025 financials, as the deal's completion is slated for September, delaying potential benefits.
