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Despite the net losses, the three companies are making key advances in funding, public collaborations, and technological developments.
The pioneering quantum computing companies IonQ, D-Wave, and Rigetti Computing have released their results for the first quarter of 2025. Although they reported net losses, they highlight important strategic advances and significant contracts with government entities and research centers.
IonQ: Strategic Investments and Institutional Expansion
The American firm IonQ reported revenues of $7.6 million, compared to a net loss of $32.3 million in the first quarter. However, the quarter was marked by significant milestones:
- Acquisition of Lightsynq Technologies (amount undisclosed) and completion of the purchase of ID Quantique, a company specializing in secure quantum communications.
- Signing memoranda of understanding with the Global R&D Center for Business by Quantum-AI Technology and Intellian Technologies.
- Announcement of a new quantum innovation center in Chattanooga (Tennessee), with a planned investment of $22 million, in collaboration with EPB.
- Participation in the DARPA Quantum Benchmarking Initiative, reinforcing its role in quantum developments funded by the U.S. Department of Defense.
IonQ expects to double its revenue in the second quarter, forecasting between $16 million and $18 million, and to reach between $75 million and $95 million for the entire year.
D-Wave: Record Sales and Milestone in Quantum Supremacy
D-Wave experienced the largest year-over-year growth, with revenues of $15 million, reflecting a 509% increase compared to the same period in 2024. This result is primarily attributed to the sale of its quantum system Advantage to a research institution.
Other notable data include:
- Operating expenses of $25.2 million, a year-over-year increase of 31%.
- Net losses of $5.4 million, representing a significant improvement compared to $17.3 million the previous year.
- Reserves worth $1.6 million, down 64% year-over-year.
Its CEO, Dr. Alan Baratz, described the quarter as “the most important in D-Wave’s history,” highlighting the first demonstration of quantum supremacy over classical systems in a real-world problem and the commercialization of new business applications.
Rigetti: Revenue Contraction but Institutional Momentum
Based in California, Rigetti Computing reported revenues of $1.5 million, down from $3.1 million in the first quarter of 2024. Its operating expenses reached $22.1 million, resulting in an operating loss of $21.6 million.
Despite this financial setback, Rigetti focused on high-value strategic agreements:
- Selected to participate in DARPA’s Quantum Benchmarking Initiative.
- Leading a UK consortium funded with £3.5 million ($4.6 million) aimed at improving quantum error correction in superconducting computers, in partnership with Riverlane and the National Quantum Computing Centre (NQCC).
- Investment closed by Quanta Computer, which acquired $35 million in shares of Rigetti at a price of $11.59 per share.
Its CEO, Dr. Subodh Kulkarni, stated that these awards demonstrate Rigetti’s “ongoing leadership in superconducting quantum computing” in both the U.S. and the UK.
Conclusion: Financial Losses but Structural Advances
Although none of the three companies have moved out of the loss zone, the results for the first quarter of 2025 reveal a positive evolution in strategic and technological terms. Quantum computing is still in the phase of commercial maturation, but these moves strengthen its integration into governmental, scientific, and business environments.
With increasing investments in hardware, innovation in error correction, and initial practical applications in the real world, the quantum sector is gearing up for a crucial decade of growth.
Via: DCD. Quantum computing earnings Q1 2025: IonQ, D-Wave, Rigetti results.