IonQ (IONQ) is scheduled to report its second-quarter results on Wednesday, August 6. Investors are watching to see if IonQ can turn its innovation into profits. While excitement around its cutting-edge technology remains high, the company’s financials have yet to show consistent revenue or earnings growth.
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In the last month, IONQ stock has declined by over 14%. Following a recent dip, the stock presents a compelling opportunity ahead of earnings, though investors should be prepared for sharp price swings and operational challenges. Overall, IonQ’s long-term growth outlook is supported by key partnerships, significant acquisitions, and government deals, even as the company faces ongoing cash burn and share dilution.
What to Expect from IonQ’s Q2 Earnings
Wall Street analysts expect IonQ to report a EPS (earnings per share) of -$0.30 for Q2, compared to a EPS of -$0.18 in the same quarter last year. Meanwhile, analysts project Q2 revenues at $17.23 billion, according to the TipRanks Analyst Forecasts Page. Notably, IonQ reported $11.4 million in revenue for the second quarter of 2024.
For full-year 2025, the company projects total revenue, including both organic growth and acquisitions, between $75 million and $95 million. Meanwhile, Q2 revenue is expected in the range of $16 million to $18 million.
Rosenblatt Stays Bullish on IONQ Stock Ahead of Q2 Earnings
Ahead of the Q2 report, Rosenblatt Securities analyst Kevin Garrigan initiated a Buy rating on IONQ stock with a street-high price target of $70. This implies over 80% upside from current levels.
Garrigan views IonQ as a compelling play for investors looking to tap into the quantum computing sector. He anticipates the company will surpass $100 million in annual revenue by year-end and expects that figure could double by 2026. Longer term, he sees IonQ on a path to hitting $1 billion in yearly revenue within the next few years.
Is IONQ Stock a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on IONQ stock based on six Buys and one Hold assigned in the last three months. The average IONQ price target of $47.5 implies an upside of 25% from current levels.
