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Luke Kawa

IonQ delivers huge Q1 sales beat, hikes full-year revenue guidance

Trapped-ion quantum computing company IonQ posted a very impressive set of headline Q1 sales yesterday, though the stock is now under pressure before the bell on Thursday, down more than 6% at the time of writing.

In Q1, the largest quantum computing company by market cap and sales reported:

  • Revenue of $64.7 million (compared to analyst estimates of $49.7 million and guidance for $48 million to $51 million).

  • An adjusted loss per share of $0.34 (estimate: a $0.24 loss).

  • Adjusted EBITDA that came in at minus $97 million (wider than the $78 million loss that analysts estimated).

On the revenue front going forward, management expects Q2 sales between $65 million and $68 million (estimate: $54.9 million), and raised its full-year sales guidance by $25 million to a range of $260 million to $270 million.

The less than stellar reaction to the print might just be some of the air coming out of the stock, which from April 9th to yesterday's close had gained an eye-watering 87%.

Indeed, even taking today’s dip into account, IonQ is still up for the year, with the quantum computing space getting some of its mojo back lately as speculative appetite returned in April after the US and Iran agreed to a ceasefire. The cohort was later turbocharged after Nvidia unveiled a suite of open models designed to leverage AI to improve calibration and error correction for quantum computers.

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SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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