Q4 2024 IONQ Inc Earnings Call Transcript
Key Points
- IonQ Inc (IONQ) 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.
- 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.
Greetings. Welcome to the IONQ's fourth quarter and full year 2024 earnings call.
(Operator instructions)
As a reminder, this conference is being recorded. At this time, it is now my pleasure to introduce Jordan Shapiro, Vice President FPNA, Head of Investor Relations. Jordan, you may begin.
Good afternoon, everyone, and welcome to IONQ's fourth quarter and full year 2024 earnings call. My name is Jordan Shapiro, and I'm the Vice President of Financial Planning and Analysis and Head of Investor Relations here at IONQ. I'm pleased to be joined on today's call by Peter Chapman, IONQ's Executive Chair, Niccolo De Masi, our new President and Chief Executive Officer, Thomas Kramer, our Chief Financial Officer. And Dean Kassman, our Senior Vice President of Engineering and Technology.
By now everyone should have access to the company's fourth quarter and full year 2024 earnings press release issued this afternoon, which is available
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