IonQ, Inc. stock research
FY2023 Q3
IonQ (IONQ) Gross Margin — Quarter Ended Sep 30, 2023
In the current quarter, revenue and gross profit both increased over the prior quarter and the same quarter last year. However, gross margin decreased slightly compared to the prior quarter while improving from the year-ago period.
Gross margin takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
In the current quarter, revenue and gross profit both increased over the prior quarter and the same quarter last year. However, gross margin decreased slightly compared to the prior quarter while improving from the year-ago period.
- Gross profit rose at a slower pace than revenue compared to the prior quarter, leading to a minor decline in gross margin. Versus a year ago, gross profit growth outpaced revenue growth, resulting in an improved gross margin.
- Sequentially, revenue and gross profit were higher, but gross margin was slightly lower. Year over year, all three metrics—revenue, gross profit, and gross margin—were higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
22.5%
Gross profit
$1.4M
Revenue
$6.1M
Cost of revenue
$4.8M
Quarter-over-quarter change
-0.8 pts
Year-over-year change
+4.4 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $4.3M | $1.5M | $2.8M | 34.0% |
| Jun 30, 2023 | $5.5M | $1.3M | $4.2M | 23.3% |
| Sep 30, 2023 | $6.1M | $1.4M | $4.8M | 22.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2023
-0.8 pts
Year-over-year change
Sep 30, 2022
+4.4 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit rose at a slower pace than revenue compared to the prior quarter, leading to a minor decline in gross margin. Versus a year ago, gross profit growth outpaced revenue growth, resulting in an improved gross margin.
Sequentially, revenue and gross profit were higher, but gross margin was slightly lower. Year over year, all three metrics—revenue, gross profit, and gross margin—were higher.
Monitor the trend in cost of revenue growth relative to revenue growth, as slight margin compression was observed sequentially.