Quantum computing firm IonQ (IONQ) is tumbling 11.5% after the firm reported lower-than-expected earnings per share for the fourth quarter. However, the company’s Q4 revenue did come in slightly above analysts’ average estimate.
But the firm noted that its bookings and revenue for all of 2024 had exceeded the high end of its guidance ranges.
Meanwhile, the company disclosed that it had hired Niccolo de Masi as its new CEO and noted that it may sell additional shares of its stock and/or other types of securities.
A modern computer datacenter, running an advanced quantum computer system.
The Highlights of IONQ’s Financial Results
IONQ’s Q4 loss per share came in at 93 cents, well below analysts’ average estimate of a loss per share of 25 cents. However, IONQ’s revenue jumped 92% versus the same period a year earlier to $11.7 million, compared with analysts’ mean outlook of $10.28 million.
IONQ reported that it had obtained new bookings of $95.6 million in 2024, above the high end of its guidance range of $75 million to $95 million. Further, its revenue for all of 2024 came in at $43.1 million, versus its prior guidance of $38.5 million to $42.5 million.
A New CEO and Possible Share Sales
The company’s new CEO, Niccolo de Masi, “held c-suite positions at publicly traded companies such as Monstermob Group, Resideo Technologies, Glu Mobile, and most recently served as Director and CEO at dMY Squared Technology Group,” IONQ noted. He has been on IONQ’s board since 2021.
IONQ noted in an SEC filing that it may issue securities, including stock and warrants, “from time to time.”
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This article is originally published at Insider Monkey.
