Overview
- IonQ reported $39.9 million in third‑quarter revenue, up 222% year over year, raised full‑year guidance to $106 million–$110 million, and ended September with about $1.5 billion in cash before adding $2 billion via an equity offering.
- Pure‑play peers Rigetti Computing and D‑Wave Quantum have rallied more than 1,900% over 12 months even as their products see limited real‑world use and the companies continue to burn cash.
- Rigetti is scheduled to post third‑quarter results today after the market close, with consensus calling for roughly $2.39 million in revenue and a loss per share of $0.05, and investors prioritizing milestones over near‑term profit metrics.
- Analysts describe the group as a high‑risk, binary bet, with Cantor Fitzgerald’s Troy Jensen noting outcomes could be either “huge and explosive” or “go to zero.”
- Policy signals continue to shape sentiment as the Trump administration prioritizes quantum development, the White House denied plans to buy stakes in quantum stocks, and Fidelity International backed a $10 billion valuation for Quantinuum.