IONQ Inc.'s (NYSE:IONQ) stock plunged 10.79% on Wednesday during the post-market session, despite reporting better-than-expected revenue for the fourth quarter of 2024. However, the quantum computing company posted a wider net loss of $202 million and an adjusted EBITDA loss of $32.8 million for the quarter.
The sell-off was exacerbated by IONQ's mixed guidance for the full year 2025. While the company expects revenue to range between $75 million and $95 million, this fell short of analysts' expectations of around $83 million. Additionally, IONQ announced plans to raise up to $500 million through an at-the-market equity offering program, potentially diluting existing shareholders.
Furthermore, IONQ announced a number of strategic moves, including the acquisition of a majority stake in ID Quantique, a leading quantum networking provider, and the appointment of Niccolo de Masi as the new President and CEO. While these moves may position IONQ for future growth, they added uncertainty to the company's near-term outlook.
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