IonQ, Inc.(NYSE:IONQ) 
IonQ, Inc. develops general-purpose quantum information computers. The company combines physical performance, qubit replication, optical networkability, and optimized algorithms to create a quantum computer. Its product quantum computing represents a radical departure from classical computing and ov...
Website: https://ionq.com/
Founded: 2015
Full Time Employees: 202 (Dec 2022)
Founder: Chris Monroe, Jungsang Kim
CEO: Christopher Monroe
Sector: Technology
Industry: Computer Hardware
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At a glance:
- Quantum Computing Pure-Play with Trapped-Ion Focus: IonQ is a publicly traded quantum computing company developing trapped-ion quantum hardware and related software/cloud access, positioning itself as a pure-play exposure to the quantum ecosystem.
- Commercialization Still Early; Revenue Tied to Partnerships and Cloud Channels: The business remains in an early commercialization phase, with revenue largely driven by research, enterprise pilots, and partnerships delivered through major cloud marketplaces and direct engagements.
- Execution Hinges on Technical Milestones and Roadmap Credibility: Progress is commonly assessed by performance metrics, system scaling, and delivery against stated hardware and product roadmaps; delays or underperformance could materially impact sentiment.
- Loss-Making Profile with Cash Burn Typical of Deep-Tech R&D: IonQ generally operates at a loss as it funds intensive R&D and go-to-market investment, making liquidity runway, operating expense discipline, and capital planning key investor focal points.
- Highly Volatile, Narrative-Driven Equity with Policy/Competitive Crosscurrents: Shares can be sensitive to news flow (contracts, partnerships, benchmarks), broader risk appetite, and competitive advances across quantum modalities, while government funding and strategic interest can act as both tailwinds and uncertainties.
Bull Thesis:
- Technological Leadership in Trapped-Ion Quantum Computing: IonQ is a leader in trapped-ion quantum computing, a promising architecture known for high qubit connectivity and fidelity. The company consistently demonstrates advancements in algorithmic qubits and error reduction, with a clear roadmap for future, more powerful systems (e.g., Forte, Tempo).
- Strategic Cloud Partnerships and Accessibility: IonQ's quantum computers are accessible through major cloud platforms like AWS Braket, Azure Quantum, and Google Cloud. This broad accessibility lowers the barrier to entry for researchers and enterprises, expanding their potential customer base and accelerating adoption of their hardware.
- Growing Bookings and Customer Engagement: Despite the nascent stage of the quantum market, IonQ has shown consistent growth in bookings and recognized revenue, indicating increasing commercial interest and adoption from a diverse set of customers, including enterprises, government agencies, and academic institutions.
- Strong Government and Enterprise Interest in Quantum Computing: Quantum computing is a strategic priority for many governments and large enterprises globally. IonQ benefits from this broader interest, securing grants, partnerships (e.g., with Hyundai, Airbus), and contracts that validate their technology and provide funding for continued development.
Bear Thesis:
- Significant Operating Losses and High Cash Burn: IonQ continues to report substantial operating losses and negative free cash flow as it heavily invests in R&D and scaling operations. The path to sustained profitability is long and uncertain, requiring significant capital raises or a dramatic increase in revenue generation.
- Intense Competition and Technological Uncertainty: The quantum computing landscape is highly competitive, with well-funded tech giants (IBM, Google, Microsoft) and other startups (Quantinuum, Rigetti) pursuing various quantum architectures. There's no guarantee that trapped-ion technology will ultimately be the dominant or most scalable approach, posing a significant technological risk.
- Nascent Market and Long Commercialization Horizon: Quantum computing is still in its very early stages, with practical, commercially viable applications for 'quantum advantage' still years away for most industries. This makes revenue generation challenging and highly speculative, as the market for quantum services is not yet mature.
- High Valuation Relative to Current Fundamentals: Given its early stage of development and limited current revenue, IonQ's market valuation is largely based on future potential rather than current financial performance. This makes the stock highly sensitive to market sentiment, technological setbacks, or delays in commercialization.
Main Competitors:
- Quantinuum (H-Series quantum computers (trapped-ion), TKET (quantum software)), Quantinuum is a direct and formidable competitor to IonQ, as both companies develop and offer trapped-ion quantum computers as a service. They compete on key performance metrics such as qubit count, gate fidelity, error rates, and overall quantum volume, as well as the robustness of their quantum software development kits and cloud access strategies.
- IBM ($IBM) (IBM Quantum Experience, Qiskit (SDK), various superconducting quantum processors), IBM is a major player in the quantum computing space, primarily utilizing superconducting qubits. They compete with IonQ by offering their own quantum computing as a service (QCaaS) through the IBM Quantum Experience, backed by a large ecosystem, extensive research, and a widely adopted open-source quantum software development kit, Qiskit. Their competition spans hardware performance, software ecosystem, and enterprise adoption.
- Alphabet Inc. (Google Quantum AI) ($GOOGL) (Google Quantum AI, Sycamore processor, Cirq (SDK), quantum computing services via Google Cloud), Google is a significant competitor, focusing on superconducting quantum processors (like Sycamore) and advanced quantum AI research. They compete by offering access to their quantum hardware and software tools through Google Cloud, aiming for quantum supremacy and developing advanced quantum algorithms, attracting researchers and enterprises with their deep pockets and AI expertise.
- Rigetti Computing, Inc. ($RGTI) (Aspen series quantum computers (superconducting), QCS (Quantum Cloud Services), Forest (SDK)), Rigetti is a pure-play quantum computing company that develops and deploys superconducting quantum processors. They compete with IonQ by offering their own quantum computing as a service (QCaaS) through their cloud platform, targeting enterprise and government clients with their full-stack quantum solutions, including hardware, software, and professional services.
- Infleqtion (formerly ColdQuanta) (Neutral atom quantum computers (e.g., Aquilon), quantum sensors, atomic clocks), Infleqtion competes in the broader quantum hardware market by developing neutral atom quantum computers. While a different qubit modality than IonQ's trapped ions, they both aim to provide scalable and high-fidelity quantum computing solutions. They compete for research grants, enterprise partnerships, and market share in the emerging quantum hardware landscape, offering an alternative path to quantum advantage.
Moat:
IonQ's primary competitive advantage (moat) lies in its **trapped-ion quantum computing technology**, which offers inherent benefits such as high qubit connectivity (all-to-all interactions), long coherence times, and high gate fidelities. This approach is considered by many to be a promising path towards fault-tolerant quantum computing. However, the competitive landscape is intensely dynamic and multi-faceted. IonQ faces direct competition from other trapped-ion developers like Quantinuum, who are also pushing the boundaries of this technology. Broader competition comes from companies pursuing alternative qubit modalities, including superconducting qubits (IBM, Google, Rigetti), neutral atoms (Infleqtion, QuEra), and photonic systems (PsiQuantum). Each modality presents its own set of engineering challenges and potential advantages in terms of scalability, error rates, and operational complexity. Furthermore, major tech giants like IBM and Google leverage their vast resources, established cloud infrastructures, and extensive developer ecosystems (Qiskit, Cirq) to attract users and build comprehensive quantum platforms. IonQ competes by continuously improving its hardware performance, expanding its cloud presence through partnerships (e.g., AWS, Azure, Google Cloud), and fostering a strong developer community around its unique technology to solidify its position in this rapidly evolving market.
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 64,668,000 | 61,890,000 | 39,866,000 | 20,694,000 | 7,566,000 | 11,710,000 | 12,400,000 | 11,381,000 | 7,582,000 | 6,106,000 | 6,136,000 | 5,515,000 | 4,285,000 | 3,807,000 | 2,763,000 | 2,608,000 | 1,953,000 | 1,648,000 | 233,000 | |
yoy | 754.72% | 428.52% | 221.50% | 81.83% | -0.21% | 91.78% | 102.09% | 106.36% | 76.94% | 60.39% | 122.08% | 111.46% | 119.41% | 131.01% | 1085.84% | |||||
qoq | 4.49% | 55.25% | 92.65% | 173.51% | -35.39% | -5.56% | 8.95% | 50.11% | 24.17% | -0.49% | 11.26% | 28.70% | 12.56% | 37.79% | 5.94% | 33.54% | 18.51% | 607.30% | ||
costs and expenses: | ||||||||||||||||||||
cost of revenue | 49,254,000 | 43,593,000 | 21,253,000 | 8,327,000 | 4,315,000 | 5,045,000 | 6,515,000 | 5,623,000 | 3,414,000 | 3,163,000 | 2,008,000 | 1,901,000 | 1,036,000 | 901,000 | 733,000 | 742,000 | 568,000 | 298,000 | 234,000 | |
research and development | 125,740,000 | 96,095,000 | 66,298,000 | 103,359,000 | 39,953,000 | 40,077,000 | 33,178,000 | 31,204,000 | 32,368,000 | 31,620,000 | 24,599,000 | 19,869,000 | 16,233,000 | 13,696,000 | 13,292,000 | 9,653,000 | 7,338,000 | 4,917,000 | 6,180,000 | |
sales and marketing | 29,436,000 | 19,519,000 | 14,441,000 | 10,877,000 | 8,610,000 | 8,927,000 | 6,630,000 | 6,137,000 | 6,701,000 | 6,981,000 | 5,047,000 | 3,575,000 | 2,667,000 | 2,414,000 | 1,969,000 | 2,132,000 | 1,871,000 | 849,000 | 1,286,000 | |
general and administrative | 88,616,000 | 90,669,000 | 82,505,000 | 48,107,000 | 23,806,000 | 29,660,000 | 14,322,000 | 13,053,000 | 14,020,000 | 15,284,000 | 13,927,000 | 10,930,000 | 10,581,000 | 9,065,000 | 10,149,000 | 7,558,000 | 9,194,000 | 5,416,000 | 2,461,000 | |
depreciation and amortization | 43,129,000 | 40,645,000 | 24,182,000 | 10,616,000 | 6,561,000 | 5,504,000 | 4,890,000 | 4,305,000 | 3,955,000 | 3,506,000 | 2,749,000 | 2,329,000 | 1,791,000 | 1,356,000 | 1,531,000 | 1,451,000 | 1,266,000 | 1,005,000 | 596,000 | |
total operating costs and expenses | 336,175,000 | 290,521,000 | 208,679,000 | 181,286,000 | 83,245,000 | 89,213,000 | 65,535,000 | 60,322,000 | 60,458,000 | 60,554,000 | 48,330,000 | 38,604,000 | 32,308,000 | 27,432,000 | 27,674,000 | 21,536,000 | 20,237,000 | 12,485,000 | 10,757,000 | |
income from operations | -271,507,000 | -228,631,000 | -168,813,000 | -160,592,000 | -75,679,000 | -77,503,000 | -53,135,000 | -48,941,000 | -52,876,000 | -54,448,000 | -42,194,000 | -33,089,000 | -28,023,000 | -23,625,000 | -24,911,000 | -18,928,000 | -18,284,000 | -10,837,000 | -10,524,000 | -426,809 |
yoy | 258.76% | 195.00% | 217.71% | 228.13% | 43.13% | 42.34% | 25.93% | 47.91% | 88.69% | 130.47% | 69.38% | 74.82% | 53.27% | 118.00% | 136.71% | 4334.77% | ||||
qoq | 18.75% | 35.43% | 5.12% | 112.20% | -2.35% | 45.86% | 8.57% | -7.44% | -2.89% | 29.04% | 27.52% | 18.08% | 18.62% | -5.16% | 31.61% | 3.52% | 68.72% | 2.97% | 2365.74% | |
operating margin % | -419.85% | -369.42% | -423.45% | -776.03% | -1000.25% | -661.85% | -428.51% | -430.02% | -697.39% | -891.71% | -687.65% | -599.98% | -653.98% | -620.57% | -901.59% | -725.77% | -936.20% | -657.58% | -4516.74% | -Infinity% |
gain on change in fair value of warrant liabilities | 1,057,628,000 | 949,640,000 | -881,847,000 | -39,577,000 | 38,494,000 | -128,505,000 | -3,868,000 | 6,639,000 | 8,627,000 | |||||||||||
interest income | 28,234,000 | 29,528,000 | 14,437,000 | 7,138,000 | 4,894,000 | 4,141,000 | 4,508,000 | 4,801,000 | 4,799,000 | 5,207,000 | 5,007,000 | 4,877,000 | 4,231,000 | 3,167,000 | 2,059,000 | 1,259,000 | ||||
other income | -16,127,000 | 726,000 | -980,000 | 232,000 | 51,000 | -111,000 | 15,000 | -45,000 | -134,000 | -235,000 | 55,000 | 31,000 | 64,000 | 33,000 | 20,000 | -46,000 | 609,000 | 85,000 | 2,000 | |
income before income tax expense | 798,228,000 | |||||||||||||||||||
income tax benefit | 6,382,000 | 24,877,000 | 4,438,000 | 15,269,000 | -12,000 | -20,000 | -16,000 | -15,000 | -8,000 | |||||||||||
net income | 804,610,000 | 753,273,000 | -1,055,612,000 | -177,530,000 | -32,252,000 | -201,998,000 | -52,496,000 | -37,561,000 | -39,592,000 | -41,904,000 | -44,811,000 | -43,718,000 | -27,338,000 | -18,647,000 | -23,983,000 | -1,654,000 | -4,227,000 | -7,930,260 | ||
yoy | -2594.76% | -472.91% | 1910.84% | 372.64% | -18.54% | 382.05% | 17.15% | -14.08% | 44.82% | 124.72% | 86.84% | 2543.17% | 546.75% | -79.14% | ||||||
qoq | 6.82% | -171.36% | 494.61% | 450.45% | -84.03% | 284.79% | 39.76% | -5.13% | -5.52% | -6.49% | 2.50% | 59.92% | 46.61% | -22.25% | 1350.00% | -60.87% | ||||
net income margin % | 1244.22% | 1217.12% | -2647.90% | -857.88% | -426.28% | -1725.00% | -423.35% | -330.03% | -522.18% | -686.28% | -730.30% | -792.71% | -637.99% | -489.81% | -868.01% | -63.42% | -216.44% | 0% | 0% | -Infinity% |
net income attributable to noncontrolling interests | -750,000 | |||||||||||||||||||
net income attributable to ionq, inc. | 805,360,000 | |||||||||||||||||||
net income per share | 3.07 | -3.58 | -0.7 | -0.14 | -0.95 | -0.24 | -0.18 | -0.19 | -0.21 | -0.22 | -0.22 | -0.14 | -0.1 | -0.12 | -0.01 | -0.02 | -0.5 | -0.12 | ||
basic | 2.19 | |||||||||||||||||||
diluted | 2.07 | |||||||||||||||||||
weighted-average shares used for eps calculation | 280,345,046 | 294,524,786 | 250,967,455 | 228,759,209 | 213,029,365 | 214,305,053 | 211,637,479 | 208,159,439 | 202,576,492 | 203,390,383 | 201,431,494 | 200,112,855 | 197,727,642 | 198,301,240 | 197,214,022 | 196,183,247 | 137,609,620 | 120,605,457 | ||
basic | 358,822,219 | |||||||||||||||||||
diluted | 371,228,286 | |||||||||||||||||||
offering costs associated with warrants | -22,867,000 | -22,847,000 | -4,259,000 | |||||||||||||||||
loss before income tax expense | 728,396,000 | -1,060,050,000 | -192,799,000 | -32,240,000 | -201,978,000 | -52,480,000 | -37,546,000 | -39,584,000 | ||||||||||||
net loss attributable to noncontrolling interests | -394,000 | -657,000 | -692,000 | |||||||||||||||||
net loss attributable to ionq, inc. | 753,667,000 | -1,054,955,000 | -176,838,000 | |||||||||||||||||
net income per share | 3.07 | -3.58 | -0.7 | -0.14 | -0.95 | -0.24 | -0.18 | -0.19 | -0.21 | -0.22 | -0.22 | -0.14 | -0.1 | -0.12 | -0.01 | -0.02 | -0.5 | -0.12 | ||
weighted-average shares used for eps calculation | 280,345,046 | 294,524,786 | 250,967,455 | 228,759,209 | 213,029,365 | 214,305,053 | 211,637,479 | 208,159,439 | 202,576,492 | 203,390,383 | 201,431,494 | 200,112,855 | 197,727,642 | 198,301,240 | 197,214,022 | 196,183,247 | 137,609,620 | 120,605,457 | ||
change in fair value of warrant liabilities | -6,696,750 | -7,640,000 | -15,537,000 | -3,610,000 | 1,778,000 | -1,151,000 | 16,061,000 | 13,448,000 | ||||||||||||
loss before benefit for income taxes | -28,957,000 | -44,772,000 | -43,718,000 | -27,338,000 | -18,647,000 | -23,983,000 | -1,654,000 | -4,227,000 | -74,084,000 | -14,781,000 | ||||||||||
income tax expense | -9,750 | -39,000 | ||||||||||||||||||
benefit for income taxes | ||||||||||||||||||||
net loss and comprehensive loss | -8,025,500 | -14,781,000 | ||||||||||||||||||
general and administrative expenses | 376,809 | |||||||||||||||||||
franchise tax expense | 50,000 | |||||||||||||||||||
interest income earned in operating account | 4 | |||||||||||||||||||
gain on marketable securities (net), dividends and interest, held in trust account | 6,545 | |||||||||||||||||||
change in fair value of derivative warrant liabilities | -7,510,000 | |||||||||||||||||||
weighted-average shares outstanding of class a common stock | 30,000,000 | |||||||||||||||||||
basic and diluted net income per share, class a common stock | ||||||||||||||||||||
weighted-average shares outstanding of class b common stock | 7,500,000 | |||||||||||||||||||
basic and diluted net loss per share, class b common stock | -1.06 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-11-13 |
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assets | ||||||||||||||||||||||
current assets: | ||||||||||||||||||||||
cash and cash equivalents | 493,538,000 | 1,030,865,000 | 346,032,000 | 140,067,000 | 159,681,000 | 54,393,000 | 30,172,000 | 41,752,000 | 60,074,000 | 35,665,000 | 37,137,000 | 13,984,000 | 51,901,000 | 44,367,000 | 57,198,000 | 43,968,000 | 86,751,000 | 399,025,000 | 587,294,000 | |||
short-term investments | 1,539,932,000 | 1,361,291,000 | 736,333,000 | 406,784,000 | 428,605,000 | 285,896,000 | 335,538,000 | 328,045,000 | 315,276,000 | 319,776,000 | 346,853,000 | 361,677,000 | 335,966,000 | 311,430,000 | 348,435,000 | 379,383,000 | 329,157,000 | 123,443,000 | ||||
accounts receivable | 98,197,000 | 66,532,000 | 36,912,000 | 19,114,000 | 9,471,000 | 10,188,000 | 4,137,000 | 7,893,000 | 9,556,000 | 11,467,000 | 3,033,000 | 2,428,000 | 1,837,000 | 3,292,000 | 2,876,000 | 1,782,000 | 569,000 | 707,000 | 4,082,000 | |||
prepaid expenses and other current assets | 171,251,000 | 127,751,000 | 96,025,000 | 59,922,000 | 39,227,000 | 28,325,000 | 25,553,000 | 27,165,000 | 25,022,000 | 23,081,000 | 16,816,000 | 13,236,000 | 12,638,000 | 12,539,000 | 8,134,000 | 5,113,000 | 5,826,000 | 6,442,000 | 6,478,000 | |||
total current assets | 2,302,918,000 | 2,586,439,000 | 1,215,302,000 | 625,887,000 | 636,984,000 | 378,802,000 | 395,400,000 | 404,855,000 | 409,928,000 | 389,989,000 | 403,839,000 | 391,325,000 | 402,342,000 | 371,628,000 | 416,643,000 | 430,246,000 | 422,303,000 | 529,617,000 | 597,854,000 | 711,714 | 1,176,276 | |
long-term investments | 1,058,426,000 | 944,643,000 | 402,603,000 | 109,902,000 | 108,861,000 | 23,545,000 | 17,131,000 | 32,171,000 | 59,090,000 | 100,489,000 | 101,115,000 | 133,542,000 | 137,646,000 | 182,001,000 | 150,154,000 | 147,992,000 | 170,460,000 | 80,110,000 | ||||
property and equipment | 132,310,000 | 120,145,000 | 119,564,000 | 58,558,000 | 51,644,000 | 52,761,000 | 49,454,000 | 47,883,000 | 42,380,000 | 37,515,000 | 35,356,000 | 29,089,000 | 26,488,000 | 26,014,000 | 25,065,000 | 24,872,000 | 21,131,000 | 18,870,000 | 16,729,000 | |||
operating lease right-of-use assets | 23,498,000 | 22,724,000 | 20,940,000 | 11,254,000 | 9,232,000 | 9,470,000 | 10,029,000 | 9,938,000 | 9,261,000 | 4,613,000 | 5,587,000 | 5,605,000 | 5,796,000 | 3,753,000 | 3,824,000 | 3,894,000 | 3,964,000 | 4,032,000 | 4,098,000 | |||
intangible assets | 781,090,000 | 767,432,000 | 655,909,000 | 143,241,000 | 28,216,000 | 29,469,000 | 17,487,000 | 16,969,000 | 16,865,000 | 15,077,000 | 13,059,000 | 11,548,000 | 10,051,000 | 8,944,000 | 7,600,000 | 6,839,000 | 6,175,000 | 5,841,000 | 5,521,000 | |||
goodwill | 2,127,665,000 | 1,963,584,000 | 1,865,841,000 | 370,720,000 | 10,669,000 | 9,904,000 | 727,000 | 719,000 | 726,000 | 742,000 | 742,000 | 742,000 | 742,000 | 742,000 | ||||||||
other noncurrent assets | 267,806,000 | 165,391,000 | 39,189,000 | 27,046,000 | 4,468,000 | 4,437,000 | 7,683,000 | 4,900,000 | 5,612,000 | 5,155,000 | 5,680,000 | 5,001,000 | 4,857,000 | 4,910,000 | 3,315,000 | 3,149,000 | 3,418,000 | 3,558,000 | 2,357,000 | |||
total assets | 6,693,713,000 | 6,570,358,000 | 4,319,348,000 | 1,346,608,000 | 850,074,000 | 508,388,000 | 497,911,000 | 517,435,000 | 543,862,000 | 553,580,000 | 565,378,000 | 576,852,000 | 587,922,000 | 597,992,000 | 606,601,000 | 616,992,000 | 627,451,000 | 642,028,000 | 626,559,000 | 300,795,648 | 301,253,665 | |
liabilities and stockholders’ equity | ||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||
accounts payable | 38,308,000 | 26,138,000 | 16,970,000 | 8,938,000 | 8,752,000 | 5,230,000 | 4,854,000 | 6,324,000 | 5,852,000 | 5,599,000 | 6,408,000 | 4,560,000 | 3,597,000 | 3,055,000 | 5,042,000 | 3,680,000 | 1,967,000 | 1,882,000 | 1,967,000 | 313,509 | 553,479 | |
accrued expenses and other current liabilities | 65,444,000 | 89,721,000 | 91,856,000 | 49,190,000 | 23,595,000 | 16,424,000 | ||||||||||||||||
current portion of operating lease liabilities | 9,165,000 | 8,850,000 | 8,599,000 | 5,528,000 | 3,621,000 | 3,366,000 | 3,089,000 | 1,479,000 | 1,178,000 | 710,000 | 695,000 | 628,000 | 610,000 | 591,000 | 582,000 | 577,000 | 573,000 | 568,000 | 564,000 | |||
unearned revenue | 50,970,000 | 42,116,000 | 21,855,000 | 16,726,000 | 12,061,000 | 10,678,000 | 8,332,000 | 13,668,000 | 16,742,000 | 12,087,000 | 5,216,000 | 8,428,000 | 6,294,000 | 8,729,000 | 4,700,000 | 4,885,000 | 3,417,000 | 3,430,000 | 3,909,000 | |||
total current liabilities | 163,887,000 | 166,825,000 | 139,280,000 | 80,634,000 | 48,379,000 | 36,085,000 | 32,324,000 | 30,788,000 | 34,705,000 | 37,164,000 | 28,598,000 | 23,628,000 | 20,860,000 | 20,160,000 | 19,631,000 | 14,291,000 | 11,385,000 | 9,691,000 | 11,076,000 | 4,120,210 | 4,157,967 | |
operating lease liabilities, net of current portion | 21,278,000 | 21,171,000 | 19,917,000 | 13,737,000 | 13,739,000 | 14,359,000 | 15,214,000 | 15,152,000 | 14,452,000 | 7,395,000 | 6,500,000 | 5,609,000 | 5,624,000 | 3,459,000 | 3,512,000 | 3,556,000 | 3,600,000 | 3,643,000 | 3,681,000 | |||
unearned revenue, net of current portion | 13,472,000 | 1,921,000 | 3,384,000 | 2,770,000 | 60,000 | 121,000 | 181,000 | 447,000 | 457,000 | 707,000 | 954,000 | 1,201,000 | 741,000 | 616,000 | 489,000 | 1,533,000 | 1,533,000 | |||||
warrant liabilities | 1,406,811,000 | 2,471,577,000 | 1,768,232,000 | 58,042,000 | 21,241,000 | 70,688,000 | 11,607,000 | 7,738,000 | 14,378,000 | 23,004,000 | 30,599,000 | 22,966,000 | 7,429,000 | 3,819,000 | 5,598,000 | 4,447,000 | 20,508,000 | 33,962,000 | 50,350,000 | |||
other noncurrent liabilities | 98,563,000 | 95,172,000 | 100,736,000 | 12,979,000 | 1,667,000 | 3,333,000 | 2,869,000 | 110,000 | 27,000 | 128,000 | 183,000 | 53,000 | 77,000 | 303,000 | 367,000 | |||||||
total liabilities | 1,704,011,000 | 2,756,666,000 | 2,031,549,000 | 168,162,000 | 85,026,000 | 124,526,000 | 62,228,000 | 54,161,000 | 64,093,000 | 68,586,000 | 66,882,000 | 53,606,000 | 35,685,000 | 29,781,000 | 30,971,000 | 24,314,000 | 37,668,000 | 50,798,000 | 68,892,000 | 55,220,210 | 47,747,967 | |
commitments and contingencies | ||||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||||
common stock 0.0001 par value... | 37,000 | 36,000 | 32,000 | 27,000 | 24,000 | 22,000 | 22,000 | 21,000 | 21,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 19,000 | |||||||
additional paid-in capital | 5,419,731,000 | 5,006,250,000 | 4,237,882,000 | 2,050,344,000 | 1,481,007,000 | 1,067,403,000 | 917,048,000 | 893,797,000 | 873,133,000 | 839,014,000 | 813,439,000 | 794,671,000 | 779,286,000 | 769,848,000 | 760,389,000 | 751,259,000 | 744,469,000 | 737,150,000 | 629,364,000 | 31,170,964 | 23,240,783 | |
accumulated deficit | -388,738,000 | -1,194,098,000 | -1,947,765,000 | -892,810,000 | -715,972,000 | -683,720,000 | -481,722,000 | -429,226,000 | -391,665,000 | -352,073,000 | -310,169,000 | -265,358,000 | -221,640,000 | -194,302,000 | -175,655,000 | -151,672,000 | -150,018,000 | -145,791,000 | -71,707,000 | -26,172,300 | -18,242,040 | |
accumulated other comprehensive income | -55,061,000 | -12,671,000 | -16,788,000 | 4,072,000 | -11,000 | 157,000 | 335,000 | |||||||||||||||
total ionq, inc. stockholders’ equity | 4,975,969,000 | 2,273,361,000 | 1,161,633,000 | |||||||||||||||||||
noncontrolling interests | 13,733,000 | 14,175,000 | 14,438,000 | 16,813,000 | ||||||||||||||||||
total stockholders’ equity | 4,989,702,000 | 3,813,692,000 | 2,287,799,000 | 1,178,446,000 | 765,048,000 | 383,862,000 | 435,683,000 | 463,274,000 | 479,769,000 | 484,994,000 | 498,496,000 | 523,246,000 | 552,237,000 | 568,211,000 | 575,630,000 | 592,678,000 | 589,783,000 | 591,230,000 | 557,667,000 | 5,000,008 | 5,000,008 | |
total liabilities and stockholders’ equity | 6,693,713,000 | 6,570,358,000 | 4,319,348,000 | 1,346,608,000 | 850,074,000 | 508,388,000 | 497,911,000 | 517,435,000 | 543,862,000 | 553,580,000 | 565,378,000 | 576,852,000 | 587,922,000 | 597,992,000 | 606,601,000 | 616,992,000 | 627,451,000 | 300,795,648 | 301,253,665 | |||
total ionq, inc. stockholders' equity | 3,799,517,000 | |||||||||||||||||||||
current portion of stock option early exercise liabilities | 252,000 | 350,000 | 387,000 | 392,000 | 392,000 | 392,000 | 392,000 | 576,000 | 761,000 | 945,000 | 1,130,000 | 1,130,000 | 1,130,000 | 1,130,000 | 1,164,000 | 1,153,000 | ||||||
stock option early exercise liabilities, net of current portion | 61,000 | 154,000 | 252,000 | 350,000 | 448,000 | 545,000 | 643,000 | 741,000 | 839,000 | 1,122,000 | 1,404,000 | 1,686,000 | 1,969,000 | 2,252,000 | ||||||||
accrued expenses | 15,657,000 | 8,925,000 | 10,541,000 | 18,376,000 | 15,703,000 | 9,251,000 | 9,414,000 | 6,655,000 | 8,177,000 | 4,019,000 | 4,298,000 | 2,647,000 | 3,483,000 | 3,550,285 | 3,523,072 | |||||||
accumulated other comprehensive loss | -1,318,000 | -1,720,000 | -1,967,000 | -4,794,000 | -6,087,000 | -5,429,000 | -7,355,000 | -9,124,000 | -6,929,000 | -4,688,000 | -148,000 | |||||||||||
assets: | ||||||||||||||||||||||
liabilities and stockholders’ equity: | ||||||||||||||||||||||
common stock 0.0001 par value per share... | 20,000 | 20,000 | 20,000 | 10,000 | ||||||||||||||||||
liabilities, convertible redeemable preferred stock and warrants, and stockholders’ equity | ||||||||||||||||||||||
convertible redeemable preferred stock and warrants: | ||||||||||||||||||||||
series a convertible redeemable preferred stock; 0.0001 par value per share... | ||||||||||||||||||||||
series b convertible redeemable preferred stock; 0.0001 par value per share... | ||||||||||||||||||||||
series b-1 convertible redeemable preferred stock; 0.0001 par value per share... | ||||||||||||||||||||||
warrants for series b-1 convertible redeemable preferred stock; after giving effect to the recapitalization there are no warrants for convertible redeemable preferred stock issued or outstanding as of december 31, 2021 and 2020 | ||||||||||||||||||||||
total liabilities, convertible redeemable preferred stock and warrants, and stockholders’ equity | 642,028,000 | |||||||||||||||||||||
series a convertible redeemable preferred stock, 0.0001 par value per share... | ||||||||||||||||||||||
series b convertible redeemable preferred stock, 0.0001 par value per share... | ||||||||||||||||||||||
series b-1 convertible redeemable preferred stock, 0.0001 par value per share... | ||||||||||||||||||||||
warrants for series b-1 convertible redeemable preferred stock; after giving effect to the recapitalization there are no warrants for convertible redeemable preferred stock issued or outstanding at september 30, 2021 and december 31, 2020 | ||||||||||||||||||||||
total liabilities, convertible redeemable preferred stock, warrants and stockholders’ equity | 626,559,000 | |||||||||||||||||||||
cash | 170 | 386,368 | ||||||||||||||||||||
prepaid assets | 711,544 | 789,908 | ||||||||||||||||||||
investments held in trust account | 300,083,934 | 300,077,389 | ||||||||||||||||||||
franchise tax payable | 100,050 | 50,050 | ||||||||||||||||||||
due to related parties | 156,366 | |||||||||||||||||||||
deferred underwriting commissions in connection with the initial public offering | 10,500,000 | 10,500,000 | ||||||||||||||||||||
derivative warrant liabilities | 40,600,000 | 33,090,000 | ||||||||||||||||||||
class a common stock, 0.0001 par value... | 240,575,430 | 248,505,690 | ||||||||||||||||||||
preferred stock, 0.0001 par value... | ||||||||||||||||||||||
class b common stock, 0.0001 par value... | 750 | 750 | ||||||||||||||||||||
note payable to related parties | 31,366 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||
net income | 804,610,000 | ||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||
depreciation and amortization | 43,129,000 | 40,645,000 | 24,182,000 | 10,616,000 | 6,561,000 | 5,504,000 | 4,890,000 | 4,305,000 | 3,955,000 | 3,506,000 | 2,749,000 | 2,329,000 | 1,791,000 | 1,356,000 | 1,531,000 | 1,451,000 | 1,266,000 | 1,005,000 | |
stock-based compensation | 128,517,000 | 106,666,000 | 72,945,000 | 99,168,000 | 33,253,000 | 39,271,000 | 24,567,000 | 20,979,000 | 22,061,000 | 31,194,000 | 16,977,000 | 11,304,000 | 10,268,000 | 8,895,000 | 10,005,000 | 5,884,000 | 6,672,000 | 1,819,000 | |
loss on change in fair value of warrant liabilities | -1,057,628,000 | -949,640,000 | 881,847,000 | 39,577,000 | -38,494,000 | 128,505,000 | 3,868,000 | -6,639,000 | -8,627,000 | ||||||||||
deferred income taxes | -6,508,000 | -24,983,000 | -4,585,000 | ||||||||||||||||
other | 8,475,000 | 12,494,000 | 4,370,000 | 677,000 | 825,000 | 902,000 | 2,005,000 | 1,087,000 | 809,000 | 438,000 | 300,000 | 2,306,000 | -1,570,000 | -1,098,000 | 1,580,000 | -1,128,000 | -490,000 | ||
changes in operating assets and liabilities: | |||||||||||||||||||
accounts receivable | -23,230,000 | -21,818,000 | -12,254,000 | -4,343,000 | 748,000 | -5,732,000 | 3,783,000 | 1,661,000 | 1,897,000 | -9,121,000 | -1,128,000 | 30,000 | 2,044,000 | -375,000 | -334,000 | -939,000 | 138,000 | 3,374,000 | |
prepaid expenses and other current assets | -41,645,000 | -29,599,000 | -17,430,000 | -12,671,000 | -12,471,000 | -5,301,000 | -1,558,000 | -3,685,000 | -4,656,000 | -6,868,000 | -4,617,000 | -1,989,000 | -939,000 | -5,170,000 | -5,418,000 | 2,060,000 | 1,516,000 | 160,000 | |
accounts payable | 9,439,000 | 9,777,000 | -18,507,000 | -2,178,000 | 3,272,000 | -138,000 | -298,000 | 356,000 | -521,000 | 1,213,000 | 496,000 | -249,000 | 728,000 | -1,932,000 | 1,836,000 | 1,447,000 | -291,000 | 1,954,000 | -654,067 |
accrued expenses and other current liabilities | -24,944,000 | -20,395,000 | 7,036,000 | 14,618,000 | 6,123,000 | ||||||||||||||
unearned revenue | 11,082,000 | 9,017,000 | 272,000 | -1,303,000 | 1,299,000 | 2,480,000 | -5,494,000 | -3,127,000 | 4,389,000 | 7,548,000 | -2,939,000 | 1,266,000 | -3,271,000 | 4,447,000 | -819,000 | 1,322,000 | -1,058,000 | -479,000 | |
other assets and liabilities | -2,321,000 | -3,505,000 | -2,715,000 | -1,774,000 | -480,000 | -310,000 | 963,000 | -38,000 | 2,546,000 | 2,021,000 | -182,000 | 214,000 | -188,000 | -89,000 | -47,000 | ||||
net cash from operating activities | -151,024,000 | -74,510,000 | -123,078,000 | -52,574,000 | -33,025,000 | -39,428,000 | -19,211,000 | -26,579,000 | -20,465,000 | -26,630,000 | -22,280,000 | -16,086,000 | -13,815,000 | -14,913,000 | -12,856,000 | -8,605,000 | -8,324,000 | -4,686,000 | -20,156,431 |
capital expenditures | -8,369,000 | -8,789,000 | -5,202,000 | -2,197,000 | -3,190,000 | -4,434,000 | -4,705,000 | -8,218,000 | -4,540,000 | -8,583,000 | -5,317,000 | -2,333,000 | -2,028,000 | -1,643,000 | -1,868,000 | -4,875,000 | -3,129,000 | -2,899,000 | 0 |
free cash flows | -159,393,000 | -83,299,000 | -128,280,000 | -54,771,000 | -36,215,000 | -43,862,000 | -23,916,000 | -34,797,000 | -25,005,000 | -35,213,000 | -27,597,000 | -18,419,000 | -15,843,000 | -16,556,000 | -14,724,000 | -13,480,000 | -11,453,000 | -7,585,000 | -20,156,431 |
cash flows from investing activities: | |||||||||||||||||||
purchases of property and equipment | -8,369,000 | -8,789,000 | -4,127,000 | -1,193,000 | -2,308,000 | -3,593,000 | -3,770,000 | -7,489,000 | -3,140,000 | -7,159,000 | -4,133,000 | -1,226,000 | -1,185,000 | -955,000 | -1,359,000 | -4,350,000 | -2,672,000 | -2,483,000 | |
purchases of available-for-sale securities | -588,328,000 | -1,416,933,000 | -817,237,000 | -114,559,000 | -320,571,000 | -55,167,000 | -95,064,000 | -79,479,000 | -66,619,000 | -68,095,000 | -44,973,000 | -120,947,000 | -64,430,000 | -116,802,000 | -84,988,000 | -92,664,000 | -311,235,000 | ||
maturities of available-for-sale securities | 292,050,000 | 275,100,000 | 196,550,000 | 117,375,000 | 93,805,000 | 99,890,000 | 106,620,000 | 10,400,000 | |||||||||||
purchases of strategic investments | -52,500,000 | ||||||||||||||||||
businesses acquired, net of cash paid and acquired | -33,281,000 | ||||||||||||||||||
other investing | -1,425,000 | 1,082,000 | |||||||||||||||||
net cash from investing activities | -391,853,000 | -1,221,456,000 | -672,655,000 | 29,199,000 | -230,176,000 | 24,364,000 | 6,542,000 | 8,295,000 | 43,529,000 | 24,186,000 | 45,500,000 | -22,235,000 | 21,315,000 | 5,151,000 | 24,976,000 | -35,085,000 | -304,098,000 | -206,871,000 | |
cash flows from financing activities: | |||||||||||||||||||
proceeds from common stock and warrant issuance, net of issuance costs | 1,954,287,000 | ||||||||||||||||||
proceeds from stock options exercised | 3,163,000 | 15,276,000 | 3,904,000 | 6,351,000 | 1,213,000 | 5,742,000 | 1,085,000 | 699,000 | 486,000 | 1,179,000 | 234,000 | 489,000 | 52,000 | 106,000 | 386,000 | 435,000 | 132,000 | 33,000 | |
proceeds from public warrants exercised | 2,199,000 | 890,000 | 4,702,000 | 0 | 1,000 | 0 | 16,000 | ||||||||||||
other financing | 1,537,000 | 6,895,000 | 94,000 | 3,000 | -202,000 | 10,000 | 17,000 | -18,000 | |||||||||||
net cash from financing activities | 6,899,000 | 1,981,186,000 | 1,004,559,000 | 4,123,000 | 368,734,000 | 39,273,000 | 1,088,000 | -33,000 | 1,359,000 | 977,000 | 244,000 | 506,000 | 34,000 | -1,069,000 | 1,110,000 | 907,000 | 148,000 | 23,288,000 | 579,814,000 |
effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | -417,000 | 206,000 | -16,000 | 404,000 | -13,000 | 21,000 | 0 | 0 | 4,000 | -5,000 | |||||||||
net change in cash, cash equivalents and restricted cash | -536,395,000 | 685,426,000 | 208,810,000 | -18,848,000 | 105,520,000 | 24,230,000 | -11,581,000 | -18,317,000 | 24,427,000 | -1,472,000 | 23,467,000 | -37,815,000 | 7,534,000 | ||||||
cash, cash equivalents and restricted cash at the beginning of the period | 1,037,748,000 | 0 | 0 | 0 | 56,840,000 | 0 | 0 | 0 | 38,081,000 | 0 | 0 | 0 | 46,367,000 | ||||||
cash, cash equivalents and restricted cash at the end of the period | 501,353,000 | 685,426,000 | 208,810,000 | -18,848,000 | 162,360,000 | 24,230,000 | -11,581,000 | -18,317,000 | 62,508,000 | -1,472,000 | 23,467,000 | -37,815,000 | 53,901,000 | ||||||
supplemental disclosures of non-cash investing and financing transactions | |||||||||||||||||||
property and equipment purchases in accounts payable and accrued expenses | 1,636,000 | -1,917,000 | 2,730,000 | 313,000 | 152,000 | 501,000 | -1,255,000 | -1,229,000 | 3,043,000 | -3,429,000 | 2,675,000 | 1,374,000 | 153,000 | 299,000 | -1,098,000 | 277,000 | 1,007,000 | 244,000 | |
at-the-market offering issuance costs in accounts payable and accrued expenses | |||||||||||||||||||
noncash reclassification of warrant liabilities to equity upon exercise | 7,138,000 | 347,015,000 | 171,656,000 | 2,775,000 | 10,953,000 | 13,000 | 0 | 0 | 0 | 8,000 | |||||||||
bonus settled in restricted stock units | 27,982,000 | 0 | 0 | 0 | 6,969,000 | 0 | 0 | 0 | 11,443,000 | 1,282,000 | 141,000 | 0 | 0 | ||||||
equity issued for acquisitions | 164,645,000 | 182,055,000 | 1,944,167,000 | ||||||||||||||||
equity issued for intangible assets | 14,760,000 | ||||||||||||||||||
equity issued for research and development arrangement | 73,046,000 | ||||||||||||||||||
net loss | 753,273,000 | -1,055,612,000 | -177,530,000 | -32,252,000 | -201,998,000 | -52,496,000 | -37,561,000 | -39,592,000 | -41,904,000 | -44,811,000 | -43,718,000 | -27,338,000 | -18,647,000 | -23,983,000 | -1,654,000 | -4,227,000 | -74,084,000 | ||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||
offering costs associated with warrants | 0 | ||||||||||||||||||
amortization of premiums and accretion of discounts on available-for-sale securities | -2,156,000 | -2,627,000 | -2,131,000 | -1,409,000 | -1,718,000 | -2,299,000 | -2,485,000 | -2,302,000 | -2,459,000 | -2,694,000 | |||||||||
purchases of privately-held securities | |||||||||||||||||||
proceeds from warrants exercised | 4,728,000 | ||||||||||||||||||
operating lease right-of-use assets subject to lease liability | 0 | 167,000 | 941,000 | 5,021,000 | 0 | 141,000 | 0 | 2,239,000 | |||||||||||
capitalized software development costs | -1,075,000 | -1,004,000 | -882,000 | -841,000 | -935,000 | -729,000 | -1,400,000 | -1,424,000 | -1,184,000 | -1,107,000 | -843,000 | -688,000 | -509,000 | -525,000 | -457,000 | -416,000 | |||
businesses acquired, net of cash acquired | |||||||||||||||||||
intangible asset purchases in accounts payable and accrued expenses | -256,000 | 257,000 | -149,000 | -8,000 | -157,000 | 391,000 | -67,000 | 78,000 | 27,000 | 216,000 | -92,000 | 183,000 | -13,000 | 86,000 | -46,000 | ||||
net share settled stock option exercises | 361,000 | 0 | 0 | 0 | 1,016,000 | ||||||||||||||
intangible asset acquisition costs | -87,000 | -220,000 | -471,000 | -309,000 | -535,000 | -357,000 | -231,000 | -429,000 | -310,000 | -318,000 | -451,000 | -228,000 | -236,000 | -134,000 | -206,000 | ||||
businesses acquired, net of cash paid | |||||||||||||||||||
proceeds from at-the-market offering, net of issuance costs | -4,049,000 | 362,303,000 | |||||||||||||||||
tax withholding receipts (payments) related to vested and released rsus | 931,000 | 516,000 | 873,000 | ||||||||||||||||
at-the-market offering issuance costs in accounts payable and accured expenses | 4,049,000 | ||||||||||||||||||
non-cash research and development arrangements | 130,000 | 130,000 | 130,000 | 130,000 | 130,000 | 130,000 | 130,000 | 130,000 | 130,000 | 130,000 | 130,000 | 130,000 | 130,000 | ||||||
businesses acquired | |||||||||||||||||||
remeasurement of operating lease right-of-use assets due to lease modification | |||||||||||||||||||
accrued expenses | 2,728,000 | -1,562,000 | -554,000 | -4,747,000 | 5,799,000 | 1,347,000 | 920,000 | -652,000 | 1,512,000 | -1,087,000 | 1,571,000 | -455,000 | -1,323,776 | ||||||
maturities and sales of available-for-sale securities | 115,045,000 | 101,095,000 | 96,219,000 | 101,355,000 | 88,091,000 | 124,895,000 | 112,060,000 | ||||||||||||
business acquired | |||||||||||||||||||
change in fair value of warrant liabilities | 7,640,000 | 15,537,000 | 3,610,000 | -1,778,000 | 1,151,000 | -16,061,000 | -13,448,000 | ||||||||||||
supplemental disclosures of non-cash investing and financing transactions: | |||||||||||||||||||
amortization of customer warrant | 309,000 | ||||||||||||||||||
tax withholding receipts related to vested and released restricted stock units | |||||||||||||||||||
tax withholding payments related to vested and released restricted stock units | |||||||||||||||||||
repurchase of early exercised stock options | 0 | ||||||||||||||||||
proceeds from merger and pipe transactions, net of transaction costs | |||||||||||||||||||
issuance of common stock for intellectual property | 0 | ||||||||||||||||||
issuance of common stock for research and development arrangement | 0 | ||||||||||||||||||
tax withholding receipts related to vested and released rsus | |||||||||||||||||||
tax withholding payments related to vested and released rsus | |||||||||||||||||||
net change in cash and cash equivalents | 13,230,000 | -42,783,000 | -312,274,000 | -188,269,000 | |||||||||||||||
cash and cash equivalents at the beginning of the period | 0 | 0 | 399,025,000 | 0 | |||||||||||||||
cash and cash equivalents at the end of the period | 13,230,000 | -42,783,000 | 86,751,000 | -188,269,000 | |||||||||||||||
supplemental disclosure of non-cash investing and financing transactions: | |||||||||||||||||||
transaction costs in accounts payable and accrued expenses | |||||||||||||||||||
other noncurrent assets | -69,000 | -1,639,000 | |||||||||||||||||
operating lease liabilities | -34,000 | -29,000 | |||||||||||||||||
proceeds from merger and pipe transaction, net of transaction costs | -2,815,000 | ||||||||||||||||||
supplemental disclosures of non-cash investing and financing activities | |||||||||||||||||||
vesting of customer warrants | |||||||||||||||||||
non-cash operating lease expense | |||||||||||||||||||
proceeds from disposal of assets | |||||||||||||||||||
vesting of warrants | |||||||||||||||||||
change in fair value of derivative warrant liabilities | |||||||||||||||||||
gain on marketable securities (net), dividends and interest, held in trust account | |||||||||||||||||||
prepaid expenses | |||||||||||||||||||
franchise tax payable | |||||||||||||||||||
proceeds from advances from related party | |||||||||||||||||||
net decrease in cash | |||||||||||||||||||
cash - beginning of the period | |||||||||||||||||||
cash - end of the period | |||||||||||||||||||
supplemental disclosure of noncash activities: | |||||||||||||||||||
change value of class a common stock subject to possible redemption | |||||||||||||||||||
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