IonQ is a pure-play developer of general-purpose quantum computing systems, utilizing trapped-ion technology. The company operates at the earliest frontier of computation, focusing on delivering commercially viable quantum hardware and cloud access for complex computational problems.
IONQ represents a deep-stack, high-conviction speculative play on the inevitable paradigm shift to quantum computation. The core thesis is validated by explosive top-line momentum: sequential growth registered at an exceptional 92.65% (QoQ) and YoY growth accelerated to 221.5%. This growth comes at a cost; the company operates with extreme cash burn (FCF margin -330.18% TTM) and an R&D intensity of 166.3%, necessary commitments to maintain its technological lead. The current quarter saw significant gross margin contraction (GM Trend -13.07%), but this is offset by the massive ramp in revenue signaling successful system deployments. With high short interest (18.89%), validated execution could trigger a tactical short squeeze alongside secular T6 tailwinds.
| Market Cap | None |
| PE Ratio (TTM) | None |
| Revenue (TTM) | None |
| Profit Margin | None |
| 52 Week High | None |
| 52 Week Low | None |
| Price | 52.57 |
What do you have to believe?
Growth vs Discount Rate
| 12% | 9% | 7% | |
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β Undervalued β Overvalued
| Year | Revenue | Margin | FCF | PV of FCF |
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| Terminal Value (PV) | -- | |||
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| Equity Value (EV + Cash - Debt) | -- | |||
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