IONQ Q1 2024 Earnings — Income Statement Breakdown
For its Q1 2024 period (ending 2024-03-31), IONQ reported revenue of $8M, gross profit of $4M (55.0% gross margin), operating income of −$53M, and net income of −$40M (-522.2% net margin). The flow of revenue into costs and profit is visualized below.
What changed
IONQ reported a net loss; revenue grew 24.2% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | +24.2% | +5.5% | +164.1 pp |
Consensus estimate data is not available for this report.
IONQ Q1 2024 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $8M | 100% |
| Cost of Revenue | −$3M | 45.0% |
| Gross Profit | $4M | 55.0% |
| Research & Development | −$32M | 426.9% |
| Selling, General & Administrative | −$21M | 273.3% |
| Other Operating Expenses | −$4M | 52.2% |
| Operating Income | −$53M | -697.4% |
| Other Income, net | $14M | 178.8% |
| Income Tax Expense | $8,000 | 0.1% |
| Net Income | −$40M | -522.2% |
Source: original SEC filing (filed 2024-05-08). Accession 0000950170-24-055629. Data normalized by EarningsFyi.