Professional
Added to YB: 2026-02-06
Pitch date: 2026-02-04
IONQ [neutral]
IonQ, Inc.
-1.44%
current return
Author Info
Company Info
IonQ, Inc. develops quantum computers and networks in the United States. It sells access to quantum computers of various qubit capacities.
Market Cap
$12.1B
Pitch Price
$33.92
Price Target
N/A
Dividend
N/A
EV/EBITDA
-27.42
P/E
-5.78
EV/Sales
138.35
Sector
Technology Hardware, Storage and Peripherals
Category
special_situation
IONQ HAS LOST FUNDING FOR VITAL PENTAGON CONTRACTS THAT HAD REPRESENTED UP TO 86% OF REVENUES
IONQ (update - short): Lost up to 86% of revenues from $65.5M Pentagon contracts via secret 'backdoor earmarks' that were defunded post-2024 election, creating $54.6M revenue hole. Mgmt never disclosed loss, instead backfilled with non-quantum acquisitions (Capella $425M, Vector Atomics, IDQ $116M, proposed SKYT $1.8B). Failed DARPA quantum competition but bought winner Oxford Ionics $1.6B. Insiders sold $396.6M during FY25 budget passage before public knew of funding cuts - potential insider trading. EPB deal self-financed $15M of $22M. Pentagon banned QKD tech IDQ uses.
Read full article (34 min)