$IONQ
IonQ, Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023061982 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $6.106M $6.136M
YoY Change 60.39% 122.08%
Cost Of Revenue $3.103M $1.960M
YoY Change 244.4% 167.39%
Gross Profit $3.003M $4.180M
YoY Change 3.34% 105.91%
Gross Profit Margin 49.18% 68.12%
Selling, General & Admin $22.33M $18.97M
YoY Change 94.49% 56.58%
% of Gross Profit 743.42% 453.92%
Research & Development $31.62M $24.60M
YoY Change 130.87% 85.07%
% of Gross Profit 1052.95% 588.49%
Depreciation & Amortization $3.506M $1.900M
YoY Change 158.55% 72.73%
% of Gross Profit 116.75% 45.45%
Operating Expenses $57.45M $43.57M
YoY Change 116.54% 71.48%
Operating Profit -$54.45M -$42.19M
YoY Change 130.47% 69.38%
Interest Expense $5.207M $5.010M
YoY Change 64.41% 143.32%
% of Operating Profit
Other Income/Expense, Net $7.346M $55.00K
YoY Change 305.63% 175.0%
Pretax Income -$41.90M -$44.77M
YoY Change 124.67% 86.68%
Income Tax $9.000K $39.00K
% Of Pretax Income
Net Earnings -$41.90M -$44.81M
YoY Change 124.72% 86.84%
Net Earnings / Revenue -686.28% -730.3%
Basic Earnings Per Share -$0.22
Diluted Earnings Per Share -$0.20 -$0.22
COMMON SHARES
Basic Shares Outstanding 204.7M 202.6M
Diluted Shares Outstanding 203.4M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $355.4M $384.0M
YoY Change -0.1% -5.33%
Cash & Equivalents $35.67M $37.14M
Short-Term Investments $319.8M $346.9M
Other Short-Term Assets $4.909M $16.80M
YoY Change -60.85% 106.54%
Inventory
Prepaid Expenses $5.696M
Receivables $11.47M $3.033M
Other Receivables $0.00 $0.00
Total Short-Term Assets $390.0M $403.8M
YoY Change 4.94% -3.07%
LONG-TERM ASSETS
Property, Plant & Equipment $37.52M $35.36M
YoY Change 44.21% 41.06%
Goodwill $742.0K $742.0K
YoY Change 0.0%
Intangibles $15.23M $13.06M
YoY Change 70.29% 71.83%
Long-Term Investments $100.5M $101.1M
YoY Change -44.79% -32.67%
Other Assets $5.155M $5.680M
YoY Change 4.99% 71.34%
Total Long-Term Assets $163.6M $161.5M
YoY Change -27.73% -14.96%
TOTAL ASSETS
Total Short-Term Assets $390.0M $403.8M
Total Long-Term Assets $163.6M $161.5M
Total Assets $553.6M $565.4M
YoY Change -7.43% -6.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.599M $6.408M
YoY Change 83.27% 27.09%
Accrued Expenses $18.38M $15.70M
YoY Change 176.12% 92.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $37.16M $28.60M
YoY Change 84.35% 45.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $128.0K $183.0K
YoY Change -57.76% -50.14%
Total Long-Term Liabilities $128.0K $183.0K
YoY Change -57.76% -50.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.16M $28.60M
Total Long-Term Liabilities $128.0K $183.0K
Total Liabilities $68.59M $66.88M
YoY Change 130.3% 115.95%
SHAREHOLDERS EQUITY
Retained Earnings -$352.1M -$310.2M
YoY Change 81.2% 76.58%
Common Stock $20.00K $20.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $485.0M $498.5M
YoY Change
Total Liabilities & Shareholders Equity $553.6M $565.4M
YoY Change -7.43% -6.8%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$41.90M -$44.81M
YoY Change 124.72% 86.84%
Depreciation, Depletion And Amortization $3.506M $1.900M
YoY Change 158.55% 72.73%
Cash From Operating Activities -$26.63M -$22.28M
YoY Change 78.57% 73.3%
INVESTING ACTIVITIES
Capital Expenditures $8.814M $5.750M
YoY Change 526.88% -462.32%
Acquisitions
YoY Change
Other Investing Activities $33.00M $51.25M
YoY Change 403.28% 92.94%
Cash From Investing Activities $24.19M $45.50M
YoY Change 369.54% 82.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 977.0K 240.0K
YoY Change -191.39% -78.38%
NET CHANGE
Cash From Operating Activities -26.63M -22.28M
Cash From Investing Activities 24.19M 45.50M
Cash From Financing Activities 977.0K 240.0K
Net Change In Cash -1.467M 23.46M
YoY Change -86.46% 77.32%
FREE CASH FLOW
Cash From Operating Activities -$26.63M -$22.28M
Capital Expenditures $8.814M $5.750M
Free Cash Flow -$35.44M -$28.03M
YoY Change 117.19% 148.74%

Facts In Submission

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StockIssuedDuringPeriodValueStockOptionsExercised
386000
CY2022Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
282000
CY2022Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
0
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8461000
CY2022Q3 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
1000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
575630000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
568211000
us-gaap Net Income Loss
NetIncomeLoss
-115867000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2561000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
775000
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
846000
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
2641000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
39312000
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
17000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
498496000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
591230000
us-gaap Net Income Loss
NetIncomeLoss
-29864000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-8976000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
953000
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
880000
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
473000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
20909000
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
25000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
575630000
us-gaap Profit Loss
ProfitLoss
-115867000
us-gaap Profit Loss
ProfitLoss
-29864000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
6869000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4248000
ionq Non Cash Research And Development Arrangements
NonCashResearchAndDevelopmentArrangements
390000
ionq Non Cash Research And Development Arrangements
NonCashResearchAndDevelopmentArrangements
390000
us-gaap Share Based Compensation
ShareBasedCompensation
38549000
us-gaap Share Based Compensation
ShareBasedCompensation
22561000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
26787000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-28358000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
7287000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
383000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1036000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-345000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-946000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1135000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7545000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1842000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
975000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2992000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
8066000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1996000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-4944000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-555000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
156000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
180000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-52181000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-29785000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6544000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8381000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
3134000
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1491000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1057000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
598000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
230350000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
488887000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
285665000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
185150000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
44580000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-314207000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
775000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
953000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
9000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
1212000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
784000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2165000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6814000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-341827000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46367000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
399025000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39553000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
57198000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4202000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
186000
ionq Intangible Asset Purchases In Accounts Payable And Accrued Expenses
IntangibleAssetPurchasesInAccountsPayableAndAccruedExpenses
321000
ionq Intangible Asset Purchases In Accounts Payable And Accrued Expenses
IntangibleAssetPurchasesInAccountsPayableAndAccruedExpenses
256000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2380000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
ionq Non Cash Reclassification Of Warrant Liabilities To Equity Upon Exercise
NonCashReclassificationOfWarrantLiabilitiesToEquityUponExercise
7000
ionq Non Cash Reclassification Of Warrant Liabilities To Equity Upon Exercise
NonCashReclassificationOfWarrantLiabilitiesToEquityUponExercise
8000
ionq Bonus Settled In Restricted Stock Units
BonusSettledInRestrictedStockUnits
2641000
ionq Bonus Settled In Restricted Stock Units
BonusSettledInRestrictedStockUnits
473000
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:24.5pt;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP and the rules and regulations of the SEC requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:24.5pt;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Significant estimates and judgments are inherent in the analysis and measurement of items including, but not limited to: revenue recognition, capitalization of internally developed software and quantum computing costs, useful lives of long-lived assets, stock-based compensation for awards with performance and market conditions, and fair value of available-for-sale securities. Management bases its estimates and assumptions on historical experience, expectations, forecasts, and on various other factors that are believed to be reasonable under the</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may differ and be affected by changes in those estimates.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><div style="font-size:10pt;font-family:Times New Roman;"><p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Foreign Currency</span></p><p style="text-indent:24.5pt;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The reporting currency of the Company is the U.S. dollar. Financial statements of subsidiaries whose functional currency is not the U.S. dollar are translated at exchange rates in effect at the balance sheet date for assets and liabilities and at average exchange rates for revenues and expenses for the respective periods. Translation adjustments are recorded in accumulated other comprehensive loss in the condensed consolidated balance sheets.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:24.5pt;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is exposed to foreign currency risk to the extent that it enters into transactions denominated in currencies other than its subsidiaries’ respective functional currencies. Transactions denominated in currencies other than subsidiaries’ functional currencies are recorded based on exchange rates at the time such transactions arise. Changes in exchange rates with respect to amounts recorded in the Company’s condensed consolidated balance sheets related to these items will result in unrealized foreign currency transaction gains and losses based upon period-end exchange rates. The Company also records realized foreign currency transaction gains and losses upon settlement of the transactions. Foreign currency transaction gains and losses resulting from the conversion of the transaction currency to functional currency are included in other income (expense), net in the condensed consolidated statements of operations.</span></p></div>
CY2023Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2100000
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2000000
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37137000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
44367000
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
2416000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
2000000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39553000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46367000
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3033000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3292000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023Q3 ionq Capitalized Materials And Supplies To Property And Equipments
CapitalizedMaterialsAndSuppliesToPropertyAndEquipments
900000
ionq Capitalized Materials And Supplies To Property And Equipments
CapitalizedMaterialsAndSuppliesToPropertyAndEquipments
3100000
CY2023Q3 us-gaap Interest Receivable
InterestReceivable
1900000
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
1700000
CY2023Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2022Q3 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
9930000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
8202000
us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
3945000
CY2023Q3 us-gaap Deferred Revenue
DeferredRevenue
5673000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentrations of Credit Risk</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:24.5pt;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash, investments, and trade accounts receivable. The Company maintains the majority of its cash, cash equivalents, restricted cash and investments with </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">three</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> financial institutions. The Company’s deposits routinely exceed amounts guaranteed by the Federal Deposit Insurance Corporation. While the Company has not experienced any losses in such accounts, the failure of Silicon Valley Bank (“SVB”), at which the Company held cash and cash equivalents in multiple accounts, exposed the Company to limited credit risk prior to the completion by the Federal Deposit Insurance Corporation of the resolution of SVB in a manner that fully protected all depositors.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:24.5pt;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company’s accounts receivable are derived from customers primarily located in the U.S. The Company performs periodic evaluations of its customers’ financial condition and generally does not require its customers to provide collateral or other security to support accounts receivable and maintains an allowance for credit losses. Credit losses historically have not been material.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:24.5pt;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Significant customers are those that represent more than </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the Company’s total revenue. The Company’s revenue was primarily from </span><span style="font-size:10pt;font-family:Times New Roman;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">three</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> significant customers for the </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">three months ended September 30, 2023, and from </span><span style="font-size:10pt;font-family:Times New Roman;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> significant customers for the </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">nine months ended September 30, 2023. The Company’s revenue was primarily from </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">three</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> significant customers for each of the three and nine months ended September 30, 2022</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">.</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q3 ionq Number Of Financial Institutions
NumberOfFinancialInstitutions
3
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-44811000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-23983000
us-gaap Net Income Loss
NetIncomeLoss
-115867000
us-gaap Net Income Loss
NetIncomeLoss
-29864000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
203390383
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
203390383
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
198301240
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
198301240
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
201656916
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
201656916
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
197255965
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
197255965
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
103531000
CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
4797000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
383990000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.22
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.22
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.57
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.15
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.15
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
53316933
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
43307787
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
51212411
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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