Company: IONQ
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000950170-25-065699
Chunk: 5

Company: IonQ, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 5
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 both in terms of research and development, as well as the commercial value of our intended product offerings. 

Today, we sell specialized quantum computing and networking hardware together with related maintenance and support. We also sell access to several quantum computers of various qubit capacities and are in the process of researching and developing technologies for quantum computers with increasing computational capabilities. We currently make access to our quantum computers available via three major cloud platforms, Amazon Web Services’ (“AWS”) Amazon Braket, Microsoft’s Azure Quantum and Google’s Cloud Marketplace, and also to select customers via our own cloud service. This cloud-based approach enables the broad availability of quantum-computing-as-a-service (“QCaaS”). 

We supplement our offerings with professional services focused on assisting our customers in applying quantum computing and networking to their businesses. We also expect to sell full quantum computing systems to customers, either over the cloud or for local access. We also offer quantum networking products which offer customers secure communication networks and enable networked quantum computing. 

We are still in the early stages of commercial growth. Since our inception we have incurred significant operating losses. Our ability to generate revenue sufficient to achieve profitability will depend heavily on the successful development and further commercialization of our quantum computing systems. Our net losses were $32.3 million and $39.6 million for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025, we had an accumulated deficit of $716.0 million. We expect to continue to incur significant losses for the foreseeable future as we prioritize reaching the technical milestones necessary to achieve an increasingly higher number of stable qubits and higher levels of fidelity than presently exists—prerequisites for quantum computing to reach broad quantum advantage. 

Business and Technical Highlights 

•We announced the acceleration of our quantum networking and quantum computing roadmap via the intended acquisition of LightsynqTechnologies, Inc. Lightsynq's founders built the first-ever quantum repeater capable of extending the range of quantum networks, a key technology for enabling quantum devices to connect together in a future quantum internet. Lightsynq’s core mission is to use this same technology to build the world’s best photonic interconnects that link quantum processors at high speed. 

•We announced the expansion of our quantum networking business, naming Jordan Shapiro our first President and General Manager, Quantum Networking. To facilitate development of this network, we have announced the proposed acquisition of Capella, a Colorado-based signals platform leader for top-secret government and commercial applications.