10 Stocks Drop by Double Digits Mostly Due to Disappointing Earnings

3. IonQ Inc. (NYSE:IONQ)

IonQ plummeted by 16.77 percent on Thursday to end at $24.91 apiece as investors sold off on disappointing earnings performance last year.

In its latest earnings release, IONQ widened its net loss in the fourth quarter of 2024 by 382 percent to $202 million from $41.9 million in the same period a year earlier, despite revenues nearly doubling to $11.7 million from $6.1 million.

In full-year 2024, net loss more than doubled to $331.6 million from $158 million in 2023, despite revenues expanding by 95 percent to $43 million from $22 million year-on-year.

The dismal performance overshadowed announcements that it acquired a controlling stake in Geneva-based ID Quantique. Alongside the transaction, IonQ expects to enter into a strategic partnership focused on quantum with SK Telecom, the largest wireless telecommunications operator in South Korea.

On the same day, IONQ also announced the entry of its new CEO, Niccolo de Masi, replacing Peter Chapman, who is set to assume the executive chair position.