Filing Flows › IonQ (IONQ) › Q1 2025
IonQ (IONQ) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
IonQ (IONQ) reported revenue of $7.6M for the first quarter 2025 (Q1 2025), -0.2% from a year earlier and -35% from the quarter before.
IonQ, Q1 2025: revenue $7.6M (-0.2% year over year), net loss $32.3M, operating cash flow −$33.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.6M | -35% | -0.2% |
| Operating profit | −$75.7M | — | — |
| Net earnings | −$32.3M | — | — |
| Operating cash flow | −$33.0M | — | — |
What changed
Revenue was $7.6M in Q1 2025, roughly flat year over year and down 35% from the previous quarter. Platform Consulting and Support Services was the largest line at 60% of revenue. Specialized Quantum Computing Hardware lost $556K year over year (down 15%), 3475% of the total change.
Operating costs exceeded revenue by $75.7M, an operating margin of -1000.3%. Total costs grew 38% against flat revenue. The fastest-growing cost line was General & admin (+70%). The quarter ended with a net loss of $32.3M, narrower than the previous quarter's $202.0M loss. Non-operating items added $43.4M, -135% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$33.0M. Non-cash charges added back $6.6M of depreciation and amortization and $33.3M of share-based compensation. Working capital and other items used $40.6M. Capital expenditures of $2.3M exceeded it, leaving free cash flow of −$35.3M.
Questions
What was IonQ's revenue in the first quarter 2025?
IonQ (IONQ) reported revenue of $7.6M for the first quarter 2025 (Q1 2025), -0.2% from a year earlier and -35% from the quarter before.
Source: IonQ 10-Q on SEC EDGAR.