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IonQ intrinsic value – IonQ (
$NYSE:IONQ) reported their Q2 GAAP EPS as -$0.01 and their revenue as $2.61 million. This is a significant decrease from their Q1 EPS of $0.03. This may cause investors to be concerned about the company’s long-term prospects.
However, the company is still in its early stages and is seeing strong growth in its user base and customer base.
Market Reaction
On Monday, IONQ stock opened at $6.2 and closed at $6.4, up by 2.4% from last closing price of 6.2. Despite the loss, investors were encouraged by the company’s revenue growth of 36% from the previous quarter. IONQ is a quantum computing company that is working on developing processors and software for quantum computers. With the growing interest in quantum computing, IONQ is well-positioned to benefit from the trend.
VI Analysis – IonQ intrinsic value
The company’s fundamentals reflect its long term potential. The intrinsic value of IONQ shares is around $51.8, which is calculated by VI
Line. The IONQ stock is currently traded at $6.4, which is undervalued by 88%.
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Summary
IonQ Inc. (IONQ) reported a second-quarter loss of $1 million, or 1 cent per share, after reporting a profit in the same period a year earlier. Revenue for the quantum computing company fell to $2.61 million from $3.11 million. IonQ shares fell 2.4% in after-hours trading following the report. Despite the quarterly loss, IonQ CEO Peter Chapman remains confident in the company’s long-term prospects. “We are encouraged by the significant advancements we have made with our technology and believe we are well positioned to execute on our long-term growth strategy,” Chapman said in a statement. IonQ is one of a number of companies working to develop quantum computers, which are seen as potential game-changers in the field of computing. The company has partnerships with a number of major firms, including Microsoft (MSFT) and Alphabet’s (GOOGL) Google.
