$IONQ
IonQ, Inc.

2023 Q2 Form 10-Q Financial Statement

#000119312523142049 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $5.515M $4.285M $1.953M
YoY Change 111.46% 119.41%
Cost Of Revenue $1.883M $1.036M $568.0K
YoY Change 153.77% 82.39%
Gross Profit $3.632M $3.249M $1.385M
YoY Change 94.64% 134.58%
Gross Profit Margin 65.86% 75.82% 70.92%
Selling, General & Admin $14.51M $13.25M $11.07M
YoY Change 49.69% 19.73% 185.97%
% of Gross Profit 399.37% 407.76% 798.92%
Research & Development $19.87M $16.23M $7.338M
YoY Change 105.83% 121.22%
% of Gross Profit 547.05% 499.63% 529.82%
Depreciation & Amortization $1.600M $1.200M $1.266M
YoY Change 45.45% -5.21%
% of Gross Profit 44.05% 36.93% 91.41%
Operating Expenses $34.37M $29.48M $19.67M
YoY Change 77.71% 49.89% 408.33%
Operating Profit -$33.09M -$28.02M -$18.28M
YoY Change 74.82% 53.27% 372.54%
Interest Expense $4.877M $4.231M
YoY Change 287.37%
% of Operating Profit
Other Income/Expense, Net $31.00K $64.00K $14.06M
YoY Change -167.39% -99.54% 683.12%
Pretax Income -$43.72M -$27.34M -$4.227M
YoY Change 2543.17% 546.75% 108.49%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$43.72M -$27.34M -$4.227M
YoY Change 2543.17% 546.75% 108.49%
Net Earnings / Revenue -792.71% -637.99% -216.44%
Basic Earnings Per Share -$0.22 -$0.14 -$0.02
Diluted Earnings Per Share -$0.22 -$0.14 -$21.55K
COMMON SHARES
Basic Shares Outstanding 201.0M 201.6M 196.2M
Diluted Shares Outstanding 201.4M 200.1M 196.2M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $375.7M $387.9M $415.9M
YoY Change -11.26% -6.74% 107545.0%
Cash & Equivalents $13.98M $51.90M $86.75M
Short-Term Investments $361.7M $336.0M $329.2M
Other Short-Term Assets $13.24M $12.64M $5.826M
YoY Change 158.87% 116.92% 637.55%
Inventory
Prepaid Expenses
Receivables $2.428M $1.837M $569.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $391.3M $402.3M $422.3M
YoY Change -9.05% -4.73% 35801.69%
LONG-TERM ASSETS
Property, Plant & Equipment $29.09M $26.49M $25.10M
YoY Change 16.95% 5.55%
Goodwill $742.0K $742.0K
YoY Change
Intangibles $11.55M $10.05M
YoY Change 68.86%
Long-Term Investments $133.5M $137.6M $170.5M
YoY Change -9.76% -19.25% -43.19%
Other Assets $5.001M $4.857M $3.418M
YoY Change 58.81% 42.1%
Total Long-Term Assets $185.5M $185.6M $205.1M
YoY Change -0.65% -9.54% -31.63%
TOTAL ASSETS
Total Short-Term Assets $391.3M $402.3M $422.3M
Total Long-Term Assets $185.5M $185.6M $205.1M
Total Assets $576.9M $587.9M $627.5M
YoY Change -6.51% -6.3% 108.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.560M $3.597M $1.967M
YoY Change 23.91% 82.87% 255.39%
Accrued Expenses $9.251M $9.414M $4.871M
YoY Change 130.18% 93.27% 38.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.63M $20.86M $11.39M
YoY Change 65.33% 83.22% 173.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $53.00K $77.00K $26.28M
YoY Change -99.47% -99.71% -39.7%
Total Long-Term Liabilities $53.00K $77.00K $26.28M
YoY Change -99.47% -99.71% -39.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.63M $20.86M $11.39M
Total Long-Term Liabilities $53.00K $77.00K $26.28M
Total Liabilities $53.61M $35.69M $37.67M
YoY Change 120.47% -5.26% -21.11%
SHAREHOLDERS EQUITY
Retained Earnings -$265.4M -$221.6M
YoY Change 74.96%
Common Stock $20.00K $20.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $523.2M $552.2M $589.8M
YoY Change
Total Liabilities & Shareholders Equity $576.9M $587.9M $627.5M
YoY Change -6.51% -6.3% 108.28%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$43.72M -$27.34M -$4.227M
YoY Change 2543.17% 546.75% 108.49%
Depreciation, Depletion And Amortization $1.600M $1.200M $1.266M
YoY Change 45.45% -5.21%
Cash From Operating Activities -$16.09M -$13.82M -$8.324M
YoY Change 86.94% 65.97% 603.41%
INVESTING ACTIVITIES
Capital Expenditures $1.536M $1.185M -$2.806M
YoY Change -133.49% -142.23%
Acquisitions
YoY Change
Other Investing Activities -$20.70M $22.82M -$301.3M
YoY Change -32.13% -107.57%
Cash From Investing Activities -$22.24M $21.32M -$304.1M
YoY Change -36.63% -107.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 506.0K 34.00K 148.0K
YoY Change -44.21% -77.03%
NET CHANGE
Cash From Operating Activities -16.09M -13.82M -8.324M
Cash From Investing Activities -22.24M 21.32M -304.1M
Cash From Financing Activities 506.0K 34.00K 148.0K
Net Change In Cash -37.81M 7.534M -312.3M
YoY Change -11.61% -102.41% 26288.51%
FREE CASH FLOW
Cash From Operating Activities -$16.09M -$13.82M -$8.324M
Capital Expenditures $1.536M $1.185M -$2.806M
Free Cash Flow -$17.62M -$15.00M -$5.518M
YoY Change 338.47% 171.84%

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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1185000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2672000
CY2023Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
843000
CY2022Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
457000
CY2023Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
318000
CY2022Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
134000
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
64430000
CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
311235000
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
88091000
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
10400000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
21315000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-304098000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
52000
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
132000
CY2023Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-18000
CY2022Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
16000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
34000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
148000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7534000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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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
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53901000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
86751000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
153000
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1007000
CY2023Q1 ionq Intangible Asset Purchases In Accounts Payable And Accrued Expenses
IntangibleAssetPurchasesInAccountsPayableAndAccruedExpenses
216000
CY2022Q1 ionq Intangible Asset Purchases In Accounts Payable And Accrued Expenses
IntangibleAssetPurchasesInAccountsPayableAndAccruedExpenses
86000
CY2023Q1 ionq Operating Lease Right Of Use Assets Subject To Lease Liability
OperatingLeaseRightOfUseAssetsSubjectToLeaseLiability
2239000
CY2022Q1 ionq Operating Lease Right Of Use Assets Subject To Lease Liability
OperatingLeaseRightOfUseAssetsSubjectToLeaseLiability
0
CY2023Q1 ionq Non Cash Reclassification Of Warrant Liabilities To Equity Upon Exercise
NonCashReclassificationOfWarrantLiabilitiesToEquityUponExercise
0
CY2022Q1 ionq Non Cash Reclassification Of Warrant Liabilities To Equity Upon Exercise
NonCashReclassificationOfWarrantLiabilitiesToEquityUponExercise
8000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">Use of Estimates </div></div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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. </div> <div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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, and fair value of <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">available-for-sale</div></div> 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 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. </div>
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
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CY2023Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2000000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
51901000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
44367000
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
2000000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53901000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46367000
CY2023Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1837000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3292000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
0
CY2023Q1 ionq Capitalized Materials And Supplies To Property And Equipment
CapitalizedMaterialsAndSuppliesToPropertyAndEquipment
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CY2023Q1 us-gaap Interest Receivable
InterestReceivable
1800000
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
1700000
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
9930000
CY2023Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
3446000
CY2023Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2022Q1 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2023Q1 us-gaap Deferred Revenue Additions
DeferredRevenueAdditions
764000
CY2023Q1 us-gaap Deferred Revenue
DeferredRevenue
7248000
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">Concentrations of Credit Risk </div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">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 two 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 recent 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. </div></div></div> <div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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. </div> <div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Significant customers are those that represent more than 10% of the Company’s total revenue. The Company’s revenue was primarily from three significant customers for the three months ended March 31, 2023, and from two significant customers for the three months ended March 31, 2022. </div>
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
200112855
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
196183247
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EarningsPerShareBasic
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EarningsPerShareDiluted
-0.14
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
47952453
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
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CY2023Q1 us-gaap Debt Securities Available For Sale And Held To Maturity Cumulative Unrecognized Gain
DebtSecuritiesAvailableForSaleAndHeldToMaturityCumulativeUnrecognizedGain
196000
CY2023Q1 us-gaap Debt Securities Available For Sale And Held To Maturity Cumulative Unrecognized Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityCumulativeUnrecognizedLoss
5625000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
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CY2022Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Cumulative Unrecognized Gain
DebtSecuritiesAvailableForSaleAndHeldToMaturityCumulativeUnrecognizedGain
42000
CY2022Q4 us-gaap Debt Securities Available For Sale And Held To Maturity Cumulative Unrecognized Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityCumulativeUnrecognizedLoss
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
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CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
201369000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
1549000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
155412000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
4076000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
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CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
5625000
CY2023Q1 ionq Debt Securities Available For Sale Contractual Maturity Less Than12 Months
DebtSecuritiesAvailableForSaleContractualMaturityLessThan12Months
387867000
CY2023Q1 ionq Debt Securities Available For Sale Contractual Maturity Greater Than12 Months
DebtSecuritiesAvailableForSaleContractualMaturityGreaterThan12Months
139646000
CY2023Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
527513000
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
35179000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
33475000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8691000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7461000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26488000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
26014000
CY2023Q1 us-gaap Depreciation
Depreciation
1200000
CY2022Q1 us-gaap Depreciation
Depreciation
1000000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4795000
CY2023Q1 us-gaap Incentive From Lessor
IncentiveFromLessor
4882000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6597000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4935000
CY2023Q1 us-gaap Accrued Professional Fees Current
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1283000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
678000
CY2023Q1 ionq Accrued Equipment And Services Liabilities For Research And Development Current
AccruedEquipmentAndServicesLiabilitiesForResearchAndDevelopmentCurrent
611000
CY2022Q4 ionq Accrued Equipment And Services Liabilities For Research And Development Current
AccruedEquipmentAndServicesLiabilitiesForResearchAndDevelopmentCurrent
489000
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
923000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
553000
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9414000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6655000
CY2023Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
8301202
CY2020Q3 ionq Percent Of Warrant Shares Will Vest And Be Immediately Exercisable
PercentOfWarrantSharesWillVestAndBeImmediatelyExercisable
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CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2019Q4 ionq Fair Value Of The Warrant Shares
FairValueOfTheWarrantShares
8700000
CY2023Q1 ionq Class Of Warrant Or Right Issue Price
ClassOfWarrantOrRightIssuePrice
11.5
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0176
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y7M17D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7748
CY2022Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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2000000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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2.19
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M25D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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0.4
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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296628
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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1.58
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.21
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M2D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
108060000.00
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y3M7D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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67930000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
24288150
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
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CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
108060000.00
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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800000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
5700000
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
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CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2200000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
12.87
CY2023Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
779787
CY2022Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
905128
CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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1700000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6848000
CY2022Q1 us-gaap Income Tax Expense Benefit
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0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P7Y3M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P7Y10M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
360000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
191000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
43000
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
6000
CY2023Q1 us-gaap Lease Cost
LeaseCost
403000
CY2022Q1 us-gaap Lease Cost
LeaseCost
197000
CY2023Q1 us-gaap Lease Cost
LeaseCost
403000
CY2022Q1 us-gaap Lease Cost
LeaseCost
197000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
166000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
161000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
559000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1831000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2309000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2378000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2449000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
6385000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
15911000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
6234000
CY2021Q3 ionq Related Party Transaction Term
RelatedPartyTransactionTerm
P3Y

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