Quantum Computing Stocks Face Volatility Ahead of Q3 Earnings

Quantum computing stocks are experiencing significant volatility as companies gear up for their third-quarter earnings reports. IonQ, a key player in the sector, reported its earnings on Wednesday, revealing a larger-than-expected loss of $3.58 per share compared to a 24-cent loss from the previous year.

Despite this, IonQ's revenue surged by 222% to $39.9 million, surpassing Wall Street expectations which had forecasted revenue growth of 118% to $27 million. Following the earnings announcement, IonQ's stock rose by over 4% in extended trading, although it is down from a record high of $84.64 reached earlier this month.

Chief Executive Niccolo de Masi stated that the company continues to benefit from its scale and momentum, raising its 2025 revenue guidance to between $106 million and $110 million, bolstered by a pro forma net cash position of $3.5 billion.

In contrast, other quantum computing companies are bracing for their earnings reports, with D-Wave Quantum set to announce its results early on November 6, Rigetti Computing on November 10, and Quantum Computing due on November 14.

Investors are keenly watching these reports, particularly for signs of revenue growth and smaller losses, as many companies in the sector remain unprofitable. D-Wave is expected to post a narrower loss of 6 cents per share, with revenue anticipated to grow by 62% to $3 million.

Meanwhile, Rigetti is projected to report a 5-cent loss, down from an 18-cent loss a year earlier, but its revenue is expected to decline by 9% to $2.2 million. Quantum Computing itself is forecasted to remain at a 6-cent loss, with revenue rising by 16% to $100 million.

The Department of Energy recently announced $625 million in funding for five quantum research centers, which could provide a boost to the sector. This funding might help alleviate some of the financial uncertainty surrounding quantum computing stocks, which have faced ups and downs amid commercialization concerns and competition from tech giants like Nvidia.

The volatility in quantum stocks has been exacerbated by the differing views on the timeline for commercially viable quantum technology. With D-Wave's stock having surged by 341% in 2025 and IonQ's rising by 49%, investors are still optimistic despite the looming earnings reports.

Additionally, Xanadu, a photonic quantum computing firm, is preparing to go public via a SPAC deal, which highlights the ongoing interest and investment in the quantum computing space. As the sector continues to evolve, the upcoming earnings reports will be critical in assessing the financial health and future prospects of these companies.