IonQ, Inc. stock research
FY2024 Q4
IonQ (IONQ) Gross Margin — Quarter Ended Dec 31, 2024
Revenue decreased from the prior quarter, while gross profit increased, leading to an improved gross margin. Compared to the same period last year, gross margin turned positive from a negative position, driven by higher revenue and a lower proportion of cost of revenue.
Gross margin takeaway
Quarter ended Dec 31, 2024 · FY2024 Q4
Revenue decreased from the prior quarter, while gross profit increased, leading to an improved gross margin. Compared to the same period last year, gross margin turned positive from a negative position, driven by higher revenue and a lower proportion of cost of revenue.
- The strongest observable margin driver is the reduction in cost of revenue relative to gross profit, as cost of revenue fell while gross profit rose sequentially.
- Compared to the immediately preceding quarter, gross margin improved, driven by higher gross profit on lower revenue. Relative to the same quarter one year earlier, gross margin strengthened significantly, shifting from a negative to a positive figure.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
22.7%
Gross profit
$2.7M
Revenue
$11.7M
Cost of revenue
$9.0M
Quarter-over-quarter change
+3.4 pts
Year-over-year change
+31.9 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, 2024 | $7.6M | $213000 | $7.4M | 2.8% |
| Jun 30, 2024 | $11.4M | $2.9M | $8.5M | 25.1% |
| Sep 30, 2024 | $12.4M | $2.4M | $10.0M | 19.3% |
| Dec 31, 2024 | $11.7M | $2.7M | $9.0M | 22.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2024
+3.4 pts
Year-over-year change
Dec 31, 2023
+31.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the reduction in cost of revenue relative to gross profit, as cost of revenue fell while gross profit rose sequentially.
Compared to the immediately preceding quarter, gross margin improved, driven by higher gross profit on lower revenue. Relative to the same quarter one year earlier, gross margin strengthened significantly, shifting from a negative to a positive figure.
Monitor the sustainability of cost of revenue reductions relative to revenue trends in upcoming quarters.