This article first appeared on GuruFocus .
IonQ ( NYSE:IONQ ) shares jumped 10.93% to $29.32 at 10:25 a.m. ET on Friday, November 6, after the quantum computing company posted third-quarter revenue of $173.8 million, up 336% from $39.9 million a year earlier. It also lifted full-year revenue guidance to $505 million to $515 million. Growth is no longer the question. Profitability is.
The headline profit needs care. IonQ reported net income of $564.0 million, but that came mainly from an $896.2 million non-cash gain on warrant liabilities. Adjusted EBITDA was a loss of $133.6 million, wider than the $48.9 million loss a year earlier. The newly acquired SkyWater foundry business added $83.5 million of segment revenue, which helps explain the jump. IonQ held about $1.7 billion in cash and investments, or $3.7 billion pro forma for its October equity raise.
The GuruFocus chart shows a GF Score of 50/100, with Momentum at 7/10 and Financial Strength at 6/10, while Profitability sits at 1/10 and GF Value at 2/10. That mix fits a cash-rich company still burning money. The test is whether quantum revenue, not foundry revenue, drives growth in 2027.
