Quantum Earnings Week: Winners and Losers Are Finally Emerging

Quantum computing companies IonQ Inc., Rigetti Computing and D-Wave Quantum Inc. reported earnings this week, reinforcing a split between technological progress and market skepticism, according to MarketBeat. IonQ differentiated itself with the strongest report, beating Wall Street estimates for both top- and bottom-line performance. The company generated losses per share of 33 cents, narrower than the 56 cents predicted by analysts, while posting 287% year-over-year revenue growth to more than $80 million in sales. Management forecast full-year revenue between $280 million and $290 million, though the company reported negative adjusted EBITDA of $120 million and GAAP operating expenses exceeding $417 million. Rigetti posted a modest revenue beat with sales climbing to $5.1 million from $1.8 million a year prior and gross margin improving to 43%. The firm holds more than half a billion dollars in cash with no debt, but operating expenses surged to $30.3 million, leading to non-GAAP net losses of about $16 million. IonQ shares have soared 19% in the last five trading days while D-Wave stock is up 12% over the same period.