IonQ reported revenue of $7.6 million for Q1 2025, slightly above the midpoint of its guidance, and ended the quarter with $697.1 million in cash and equivalents following the closing of a $372.6 million ATM facility. The company reported a net loss of $32.3 million and an Adjusted EBITDA loss of $35.8 million.
CEO Niccolo de Masi cited key milestones across quantum computing and networking, including a $22 million deal with EPB to establish the nation’s first commercial quantum hub in Chattanooga, Tennessee. The hub will be powered by IonQ’s Forte Enterprise system and is intended to co-develop algorithms for grid optimization. The company also highlighted progress on its expansion into quantum networking, including the recently announced intent to acquire Lightsynq Technologies and Capella Space.
IonQ also announced it was selected by DARPA for the first stage of its Quantum Benchmarking Initiative and demonstrated quantum advantage in a collaboration with Ansys at NVIDIA’s GTC conference. The company’s Europe-based Forte Enterprise system is now globally accessible via Amazon Braket, QuantumBasel, and IonQ’s own cloud.
Key Q1 Highlights:
- Revenue: $7.6 million
- Cash and investments: $697.1 million as of March 31, 2025
- Net loss: $32.3 million; Adjusted EBITDA loss: $35.8 million
- Closed acquisition of ID Quantique; announced intent to acquire Lightsynq and Capella Space
- DARPA Quantum Benchmarking selection
- 950+ patents/patent applications owned or pending
