beatandraise : Equity Research with AI and ChatGPT on SEC Edgar

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IonQ, Inc.

Exhibits

d424437d10k.htm d424437dex1014.htm d424437dex1030.htm d424437dex231.htm d424437dex311.htm d424437dex312.htm d424437dex321.htm

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beatandraise.com

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IonQ, Inc.

Statements

Exhibits

d424437d10k.htm d424437dex1014.htm d424437dex1030.htm d424437dex231.htm d424437dex311.htm d424437dex312.htm d424437dex321.htm

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Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue	$ 11,131	$ 2,099
Costs and expenses:
Cost of revenue (excluding depreciation and amortization)	2,944	1,040
Research and development	43,978	20,228
Sales and marketing	8,385	3,233
General and administrative	35,966	13,737
Depreciation and amortization	5,604	2,548
Total operating costs and expenses	96,877	40,786
Loss from operations	(85,746)	(38,687)
Change in fair value of warrant liabilities	30,136	(63,332)
Interest income, net	7,093	64
Offering costs associated with warrants	0	(4,259)
Other income (expense), net	6	28
Loss before benefit for income taxes	(48,511)	(106,186)
Benefit for income taxes	0	0
Net loss	$ (48,511)	$ (106,186)
Net loss per share attributable to common stockholders—basic	$ (0.25)	$ (0.77)
Weighted average shares used in computing net loss per share attributable to common stockholders—basic	197,727,642	137,609,620
Net loss per share attributable to common stockholders—diluted	$ (0.25)	$ (0.77)
Weighted average shares used in computing net loss per share attributable to common stockholders—diluted	197,727,642	137,609,620

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (48,511)	$ (106,186)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,604	2,548
Non-cash research and development arrangements	520	1,335
Amortization of customer warrant	0	528
Offering costs associated with warrants	0	4,259
Stock-based compensation	31,456	7,748
Change in fair value of warrant liabilities	(30,136)	63,332
Other, net	(1,136)	101
Changes in operating assets and liabilities:
Accounts receivable	(1,510)	(317)
Prepaid expenses and other current assets	(7,012)	(3,790)
Accounts payable	1,060	763
Accrued expenses	1,344	1,259
Unearned revenue	3,892	3,605
Other assets and liabilities	(269)	(1,722)
Net cash used in operating activities	(44,698)	(26,537)
Cash flows from investing activities:
Purchases of property and equipment	(9,336)	(7,783)
Capitalized software development costs	(2,179)	(1,621)
Intangible asset acquisition costs	(1,049)	(620)
Purchases of available-for-sale securities	(605,689)	(203,761)
Maturities and sales of available-for-sale securities	310,045	0
Business acquired	(848)	0
Net cash used in investing activities	(309,056)	(213,785)
Cash flows from financing activities:
Proceeds from stock options exercised	1,059	5,457
Tax withholding receipts related to vested and released restricted stock units	2,001	0
Tax withholding payments related to vested and released restricted stock units	(1,981)	0
Proceeds from public warrants exercised	17	26,070
Repurchase of early exercised stock options	0	(968)
Proceeds from merger and PIPE transactions, net of transaction costs	0	572,668
Net cash provided by financing activities	1,096	603,227
Net change in cash, cash equivalents and restricted cash	(352,658)	362,905
Cash, cash equivalents and restricted cash at the beginning of the period	399,025	36,120
Cash, cash equivalents and restricted cash at the end of the period	46,367	399,025
Supplemental disclosures of non-cash investing and financing transactions:
Issuance of common stock for intellectual property	0	1,567
Issuance of common stock for research and development arrangement	0	814
Property and equipment purchases in accounts payable and accrued expenses	485	553
Intangible asset purchases in accounts payable and accrued expenses	164	83
Noncash reclassification of warrant liabilities to equity upon exercise	8	79,719
Bonus settled in restricted stock units	$ 473	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 44,367	$ 399,025
Short-term investments	311,430	123,443
Accounts receivable	3,292	707
Prepaid expenses and other current assets	12,539	6,442
Total current assets	371,628	529,617
Long-term investments	182,001	80,110
Property and equipment, net	26,014	18,870
Operating lease right-of-use assets	3,753	4,032
Intangible assets, net	8,944	5,841
Goodwill	742	0
Other noncurrent assets	4,910	3,558
Total Assets	597,992	642,028
Current liabilities:
Accounts payable	3,055	1,882
Accrued expenses	6,655	2,647
Current portion of operating lease liabilities	591	568
Unearned revenue	8,729	3,430
Current portion of stock option early exercise liabilities	1,130	1,164
Total current liabilities	20,160	9,691
Operating lease liabilities, net of current portion	3,459	3,643
Unearned revenue, net of current portion	1,201	1,533
Stock option early exercise liabilities, net of current portion	839	1,969
Warrant liabilities	3,819	33,962
Other noncurrent liabilities	303	0
Total liabilities	29,781	50,798
Commitments and contingencies (see Note 10)
Stockholders' Equity:
Common stock $0.0001 par value; 1,000,000,000 shares authorized; [0] and 195,630,975 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively	20	19
Additional paid-in capital	769,848	737,150
Accumulated deficit	(194,302)	(145,791)
Accumulated other comprehensive loss	(7,355)	(148)
Total stockholders' equity	568,211	591,230
Total Liabilities and Stockholders' Equity	$ 597,992	$ 642,028