IonQ and D-Wave Quantum report first-quarter earnings this week, as investors eye revenue growth for quantum computing stocks. In some cases, investors will also be hoping for smaller losses for quantum stocks.
IonQ reports earnings after the market close on Wednesday, followed by D-Wave early on Thursday. Rigetti Computing reports on May 12, with Quantum Computing not due until June.
Wall Street analysts expect IonQ to report a loss of 26 cents per share, widening its loss from 19 cents a year earlier. Also, IonQ revenue is expected to fall 1% to $7.5 million.
IonQ 2025 Revenue Jump Expected
For all of 2025, though, analysts predict that IonQ revenue will jump 98% to $85.4 million. Heading into the Q1 earnings report, IonQ stock trades above its 50-day moving average.
D-Wave is expected to report a loss of 4 cents per share, improving from a 10-cent loss a year earlier. D-Wave revenue in Q1 is expected to pop 325% to $10.5 million.
Most of the company's sales gain is expected to come in Q1. For 2025, analysts model 154% revenue growth to $22.4 million.
Further, Rigetti is expected to post a 5 cent loss in Q1, improving from a 14-cent loss a year earlier. But the company's revenue will dip 16% to $2.6 million, analysts project.
Meanwhile, a basic options trading strategy around earnings — using call options — allows investors to buy a stock at a predetermined price without taking a lot of risk.
IonQ and Rigetti were among 18 companies recently chosen by the Defense Advanced Research Projects Agency (or DARPA) to take part in the first stage of the Quantum Benchmarking Initiative, a program aimed at assessing the feasibility of developing industrially useful quantum computers.
Quantum Computing Stocks Volatile In 2025
Meanwhile, quantum computing stocks have been volatile in 2025 amid controversy involving Nvidia over how soon commercially viable quantum technology will be available.
In 2025, D-Wave stock has dipped 6%, Rigetti shares are down 30%, Quantum Computing stock has dropped 51%, and IonQ has retreated 26%.
Quantum computing works on a subatomic level and uses exotic technologies, like supercold superconductor chips. Further, quantum computing aims to solve problems too complex for today's classical computers, such as simulating chemical reactions. Other applications are expected in material design.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
