Company: IONQ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027722
Chunk: 19

Company: IonQ, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 6
Chunk 19
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 liability insurance costs. 

60

 Depreciation and amortization  

     Year EndedDecember 31,

     $

     %

     2024

     2023

     Change

     Change

     (in thousands)

     Depreciation and amortization
      
     $
     18,654

     $
     10,375

     $
     8,279

     80
     %
    
    Depreciation and amortization expenses increased by $8.3 million, or 80%, to $18.7 million for the year ended December 31, 2024, from $10.4 million for the year ended December 31, 2023. The increase was primarily driven by an increase of $3.1 million and $2.8 million in depreciation expense associated with capitalized quantum computing system costs and other property and equipment, respectively, and an increase of $2.4 million due to amortization of capitalized internal-use software. Gain (loss) on change in fair value of warrant liabilities  

     Year EndedDecember 31,

     $

     %

     2024

     2023

     Change

     Change

     (in thousands)

     Gain (loss) on change in fair value of warrant liabilities
      
     $
     (117,107
     )
      
     $
     (19,206
     )
      
     $
     (97,901
     )

     (510
     )%
    
    The change in fair value of warrant liabilities decreased by $97.9 million, or 510%, to a loss of $117.1 million for the year ended December 31, 2024, from a loss of $19.2 million for the year ended December 31, 2023. The decrease was due to mark-to-market adjustments based on changes in the trading price for our public warrants. Interest income, net  

     Year EndedDecember 31,

     $

     %

     2024

     2023

     Change

     Change

     (in thousands)

     Interest income, net
      
     $
     18,249

     $
     19,322

     $
     (1,073
     )

     (6
     )%
    
    Interest income, net decreased by $1.1 million, or 6%, to  $18.2 million for the year ended December 31, 2024, from $19