Overview
- IonQ reports roughly $3.5 billion in cash and short‑term investments, with acquisition‑augmented revenue alongside sharply rising R&D and SG&A expenses that have widened operating losses.
- Quarterly snapshots show IonQ revenue at $39.9 million, D‑Wave at $3.7 million up 100% year over year, and Rigetti at $1.9 million down from $2.4 million.
- D‑Wave continues to focus on quantum annealing for optimization and AI inference, while acknowledging practical, general‑purpose systems remain several years away and operations rely on external funding and partnerships.
- Insider activity points to caution as executives at IonQ, Rigetti, D‑Wave, and Quantum Computing Inc. have been persistent sellers despite share gains ranging from about 260% to 2,710% over the past year.
- Ecosystem and policy developments include a DOE commitment of $625 million to renew five quantum centers, DARPA advancing 11 firms to the next stage of its benchmarking initiative, a Classiq funding round backed by AMD, Qualcomm and IonQ, and reports that the administration is considering equity stakes in select companies.