IonQ, Inc. Segments Disclosure
21. SEGMENT INFORMATION
The Company operates as one operating segment as its , who is the chief operating decision maker, reviews financial information on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. Consolidated net loss as reported on the consolidated statements of operations is used to evaluate performance and allocate resources. The chief operating decision maker evaluates actual results compared to forecasted results for consolidated net loss, including significant expenses, when making decisions about allocating resources.
The following table presents revenue, significant expenses, and segment profit and loss (in thousands):
|
|
Year Ended |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Revenue |
|
$ |
130,016 |
|
|
$ |
43,073 |
|
|
$ |
22,042 |
|
Less: |
|
|
|
|
|
|
|
|
|
|||
Operating costs and expenses excluding stock-based compensation: |
|
|
|
|
|
|
|
|
|
|||
Cost of revenue (excluding depreciation and amortization) |
|
|
55,682 |
|
|
|
15,857 |
|
|
|
5,289 |
|
Research and development |
|
|
135,877 |
|
|
|
78,131 |
|
|
|
52,218 |
|
Sales and marketing |
|
|
29,548 |
|
|
|
14,607 |
|
|
|
11,508 |
|
General and administrative |
|
|
148,588 |
|
|
|
41,401 |
|
|
|
30,663 |
|
Stock-based compensation |
|
|
312,032 |
|
|
|
106,878 |
|
|
|
69,743 |
|
Depreciation and amortization |
|
|
82,004 |
|
|
|
18,654 |
|
|
|
10,375 |
|
Other segment items: |
|
|
|
|
|
|
|
|
|
|||
(Gain) loss on change in fair value of warrant liabilities |
|
|
(66,710 |
) |
|
|
117,107 |
|
|
|
19,206 |
|
Interest income, net |
|
|
(55,997 |
) |
|
|
(18,249 |
) |
|
|
(19,322 |
) |
Offering costs associated with warrants |
|
|
45,714 |
|
|
|
— |
|
|
|
— |
|
Other (income) expense, net |
|
|
(29 |
) |
|
|
275 |
|
|
|
85 |
|
Income tax (benefit) expense |
|
|
(44,572 |
) |
|
|
59 |
|
|
|
48 |
|
Net loss |
|
$ |
(512,121 |
) |
|
$ |
(331,647 |
) |
|
$ |
(157,771 |
) |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.