Company: IONQ
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027722
Chunk: 69

Company: IonQ, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 6
Chunk 69
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ating lease liabilities, net
          
         $
         (2,251
         )
          
         $
         (1,790
         )
          
         $
         644

        As of December 31, 2024, maturities of operating lease liabilities are as follows (in thousands):  

         Amount

         Year Ending December 31,

         2025
          
         $
         3,663

         2026

         4,193

         2027

         4,257

         2028

         4,358

         2029

         3,933

         Thereafter

         1,511

         Total lease payments
          
         $
         21,915

         Less: imputed interest

         (4,190
         )

         Present value of operating lease liabilities
          
         $
         17,725

        19. EMPLOYEE BENEFIT PLAN The Company has a 401(k) savings plan (the “401(k) Plan”), which qualifies as a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. Under the 401(k) Plan, participating employees may elect to contribute up to 100% of their eligible compensation, subject to certain limitations. The 401(k) Plan provides for a discretionary employer-matching contribution. The Company made a matching contribution of $2.4 million, $1.6 million and $0.9 million to the 401(k) Plan for the years ended December 31, 2024, 2023 and 2022, respectively. 20. RELATED PARTY TRANSACTIONS Transactions with University of Maryland The Company has contracts with UMD, including contracts to provide certain quantum computing services and facility access, to provide customized quantum computing hardware, and an operating lease. Following the departure of the Company's Chief Scientist, UMD is no longer considered a related party as of January 1, 2024. Revenue recognized from contracts entered into while UMD was a related party was $3.5 million, $4.6 million and $4.0 million for the years ended December 31, 2024, 2023 and 2022, respectively.The Company had the following balances related to contracts entered into while UMD was a related party, as reflected in the consolidated balance sheets (in thousands): 

         December 31,

         December 31,

         2024