IonQ (IONQ) 10-Q 15 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 08, 2021
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Registrant Name	IONQ, INC.
Entity Central Index Key	0001824920
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Entity File Number	001-39694
Entity Tax Identification Number	84-2992192
Entity Address, Address Line One	4505 Campus Drive
Entity Address, City or Town	College Park
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20740
City Area Code	301
Local Phone Number	298-7997
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		192,487,104
Warrant [Member]
Entity Information [Line Items]
Trading Symbol	IONQ WS
Title of 12(b) Security	Warrants, each exercisable for one share of common stock for $11.50 per share
Security Exchange Name	NYSE
Common Stock [Member]
Entity Information [Line Items]
Trading Symbol	IONQ
Title of 12(b) Security	Common stock, par value $0.0001 per share
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 587,294	$ 36,120
Accounts receivable ($4 and $0 attributable to related parties)	4,082	390
Prepaid expenses and other current assets ($520 and $1,013 attributable to related parties)	6,478	2,069
Total current assets	597,854	38,579
Property and equipment, net	16,729	11,988
Operating lease right-of-use assets ($4,098 and $4,296 attributable to related parties)	4,098	4,296
Intangible assets, net	5,521	2,687
Other noncurrent assets ($1,975 and $2,365 attributable to related parties)	2,357	2,928
Total Assets	626,559	60,478
Current liabilities:
Accounts payable ($15 and $5 attributable to related parties)	1,967	538
Accrued expenses	3,483	608
Current portion of operating lease liabilities ($564 and $495 attributable to related parties)	564	495
Unearned revenue ($4 and $0 attributable to related parties)	3,909	240
Current portion of stock option early exercise liabilities	1,153
Total current liabilities	11,076	1,881
Operating lease liabilities, net of current portion ($3,681 and $3,776 attributable to related parties)	3,681	3,776
Unearned revenue, net of current portion	1,533	1,118
Stock option early exercise liabilities, net of current portion	2,252
Warrant liabilities	50,350
Total liabilities	68,892	6,775
Commitments and Contingencies
Convertible Redeemable Preferred Stock and Warrants:
Warrants for Series B-1 convertible redeemable preferred stock; after recapitalization there are no warrants for convertible redeemable preferred stock issued or outstanding at September 30, 2021 and December 31, 2020	0	0
Stockholders' Equity (Deficit):
Common stock $0.0001 par value per share; 1,000,000,000 shares authorized; 190,197,253 and 118,146,795 shares issued, and outstanding at September 30, 2021 and December 31, 2020, respectively	10	3
Additional paid-in capital	629,364	93,305
Accumulated deficit	(71,707)	(39,605)
Total stockholders' equity	557,667	53,703
Total Liabilities, Convertible Redeemable Preferred Stock, Warrants and Stockholders' Equity	626,559	60,478
Series A Convertible Redeemable Preferred Stock [Member]
Convertible Redeemable Preferred Stock and Warrants:
Convertible redeemable preferred stock	0	0
Series B Convertible Redeemable Preferred Stock [Member]
Convertible Redeemable Preferred Stock and Warrants:
Convertible redeemable preferred stock	0	0
Series B1 Convertible Redeemable Preferred Stock [Member]
Convertible Redeemable Preferred Stock and Warrants:
Convertible redeemable preferred stock	$ 0	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	190,197,253	118,146,795
Common stock, shares outstanding	190,197,253	118,146,795
Prepaid expenses and other assets related parties current	$ 520	$ 1,013
Operating lease right of use assets related parties noncurrent	4,098	4,296
Other noncurrent assets related parties	1,975	2,365
Accounts payable related parties current	15	5
Operating lease liabilities related parties current	564	495
Operating lease liabilities related parties noncurrent	3,681	3,776
Accounts receivable attributable to related parties	4,000	0
Unearned revenue attributable to related parties	$ 3,836	$ 0
Warrants for Series B-1 convertible redeemable preferred stock issued	0	0
Warrants for Series B-1 convertible redeemable preferred stock outstanding	0	0
Series A Convertible Redeemable Preferred Stock [Member]
Temporary Equity, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Temporary Equity, Shares Authorized	2,000,000	2,000,000
Temporary Equity, Shares Issued	0	0
Temporary Equity, Shares Outstanding	0	0
Series B Convertible Redeemable Preferred Stock [Member]
Temporary Equity, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Temporary Equity, Shares Authorized	9,753,798	9,753,798
Temporary Equity, Shares Issued	0	0
Temporary Equity, Shares Outstanding	0	0
Series B-1 Convertible Redeemable Preferred Stock [Member]
Temporary Equity, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Temporary Equity, Shares Authorized	13,217,404	13,217,404
Temporary Equity, Shares Issued	0	0
Temporary Equity, Shares Outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 233		$ 451
Costs and expenses:
Cost of revenue (excluding depreciation and amortization)	234	$ 57	742	$ 57
Research and development	6,180	2,339	15,311	7,643
Sales and marketing	1,286	81	2,384	263
General and administrative	2,461	727	8,321	1,840
Depreciation and amortization	596	372	1,543	995
Total operating costs and expenses	10,757	3,576	28,301	10,798
Loss from operations	(10,524)	(3,576)	(27,850)	(10,798)
Offering costs associated with warrants	(4,259)		(4,259)
Other income	2	11	7	305
Loss before benefit for income taxes	(14,781)	(3,565)	(32,102)	(10,493)
Benefit for income taxes	0	0	0	0
Net loss and comprehensive loss	$ (14,781)	$ (3,565)	$ (32,102)	$ (10,493)
Net loss per share attributable to common stockholders - basic and diluted	$ (0.12)	$ (0.03)	$ (0.27)	$ (0.09)
Weighted average shares used in computing net loss per share attributable to common stockholders – basic and diluted	120,605,457	115,369,517	119,535,167	114,597,135

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Convertible Redeemable Preferred Stock, Warrants and Stockholders' Equity - USD ($)	Total	Stockholders' Equity [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Stockholders' Equity [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Stockholders' Equity [Member]	Common Stock [Member]Stockholders' Equity [Member]	Common Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]Stockholders' Equity [Member]	Common Stock [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Stockholders' Equity [Member]	Additional Paid-In Capital [Member]Stockholders' Equity [Member]	Additional Paid-In Capital [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]Stockholders' Equity [Member]	Additional Paid-In Capital [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Stockholders' Equity [Member]	Accumulated Deficit [Member]Stockholders' Equity [Member]	Accumulated Deficit [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Stockholders' Equity [Member]	Warrant [Member]	Warrant [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Series A Convertible Redeemable Preferred Stock [Member]	Series A Convertible Redeemable Preferred Stock [Member]Convertible Redeemable Preferred Stock [Member]	Series A Convertible Redeemable Preferred Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]Convertible Redeemable Preferred Stock [Member]	Series B Convertible Redeemable Preferred Stock [Member]	Series B Convertible Redeemable Preferred Stock [Member]Convertible Redeemable Preferred Stock [Member]	Series B Convertible Redeemable Preferred Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]Convertible Redeemable Preferred Stock [Member]	Series B-1 Convertible Redeemable Preferred Stock [Member]	Series B-1 Convertible Redeemable Preferred Stock [Member]Convertible Redeemable Preferred Stock [Member]	Series B-1 Convertible Redeemable Preferred Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]Convertible Redeemable Preferred Stock [Member]	Series B-1 Warrants Relating To Redeemable Convertible Preferred Stock [Member]	Series B-1 Warrants Relating To Redeemable Convertible Preferred Stock [Member]Convertible Redeemable Preferred Stock [Member]	Series B-1 Warrants Relating To Redeemable Convertible Preferred Stock [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]
Temporary Equity at Dec. 31, 2019																$ 1,925,000	$ (1,925,000)		$ 21,111,000	$ (21,111,000)		$ 61,867,000	$ (61,867,000)
Temporary Equity (in shares) at Dec. 31, 2019																2,000,000	(2,000,000)		9,753,798	(9,753,798)		11,166,941	(11,166,941)
Balance at Dec. 31, 2019		$ (20,917,000)	$ 84,903,000	$ 63,986,000	$ 1,000	$ 2,000	$ 3,000	$ 3,263,000	$ 84,901,000	$ 88,164,000	$ (24,181,000)	$ (24,181,000)
Balance (in shares) at Dec. 31, 2019	5,098,562					108,336,247	113,434,809
Net loss	$ (10,493,000)	(10,493,000)									(10,493,000)
Vesting of warrant issued to a customer		566,000						566,000
Stock Options Exercised		30,000			$ 0			30,000
Stock Options Exercised (in shares)	235,887				235,887
Vesting of Restricted Common Stock		170,000						170,000
Vesting of Restricted Common Stock (in shares)					1,771,198
Stock-based compensation		612,000						612,000
Balance at Sep. 30, 2020		54,871,000			$ 3,000			89,542,000			(34,674,000)
Balance (in shares) at Sep. 30, 2020					115,441,894
Temporary Equity at Sep. 30, 2020													$ 0			$ 0			$ 0			$ 0
Temporary Equity (in shares) at Sep. 30, 2020																0			0			0
Temporary Equity at Jun. 30, 2020													0	$ 0		$ 1,925,000	$ (1,925,000)		$ 21,111,000	$ (21,111,000)		$ 61,867,000	$ (61,867,000)
Temporary Equity (in shares) at Jun. 30, 2020																2,000,000	(2,000,000)		9,753,798	(9,753,798)		11,166,941	(11,166,941)
Balance at Jun. 30, 2020		(27,287,000)	84,903,000	57,616,000	$ 1,000	$ 2,000	$ 3,000	3,821,000	84,901,000	88,722,000	(31,109,000)	(31,109,000)
Balance (in shares) at Jun. 30, 2020					5,527,749	109,644,604	115,172,353
Net loss	$ (3,565,000)	(3,565,000)									(3,565,000)
Vesting of warrant issued to a customer		566,000						566,000
Stock Options Exercised		3,000			$ 16,513,000			3,000
Vesting of Restricted Common Stock		24,000						24,000
Vesting of Restricted Common Stock (in shares)					253,028
Stock-based compensation		227,000						227,000
Balance at Sep. 30, 2020		54,871,000			$ 3,000			89,542,000			(34,674,000)
Balance (in shares) at Sep. 30, 2020					115,441,894
Temporary Equity at Sep. 30, 2020													0			$ 0			$ 0			$ 0
Temporary Equity (in shares) at Sep. 30, 2020																0			0			0
Temporary Equity at Dec. 31, 2020															$ 0	$ 1,925,000	$ (1,925,000)	$ 0	$ 21,111,000	$ (21,111,000)	$ 0	$ 61,867,000	$ (61,867,000)	$ 566,000		$ (566,000)
Temporary Equity (in shares) at Dec. 31, 2020															0	2,000,000	(2,000,000)	0	9,753,798	(9,753,798)	0	11,166,941	(11,166,941)
Balance at Dec. 31, 2020	53,703,000	(31,766,000)	85,469,000	53,703,000	$ 1,000	$ 2,000	$ 3,000	7,838,000	85,467,000	93,305,000	(39,605,000)	(39,605,000)
Balance (in shares) at Dec. 31, 2020					6,262,460	111,884,335	118,146,795
Net loss	$ (32,102,000)	(32,102,000)									(32,102,000)
Equity instruments issued in consideration for intellectual property and research and development arrangements		2,381,000						2,381,000
Equity instruments issued in consideration for intellectual property and research and development arrangements (in shares)					385,797
Stock Options Exercised		256,000						256,000
Stock Options Exercised (in shares)	3,308,594				974,013
Vesting of Restricted Common Stock		796,000						796,000
Vesting of Restricted Common Stock (in shares)					387,971
Merger and PIPE transaction, net of transaction costs, Value		526,505,000			$ 7,000			526,498,000
Merger and PIPE transaction, net of transaction costs, Shares					70,302,677
Stock-based compensation		6,128,000						6,128,000
Balance at Sep. 30, 2021	$ 557,667,000	557,667,000			$ 10,000			629,364,000			(71,707,000)
Balance (in shares) at Sep. 30, 2021					190,197,253
Temporary Equity at Sep. 30, 2021													0		$ 0	$ 0		$ 0	$ 0		$ 0	$ 0			$ 0
Temporary Equity (in shares) at Sep. 30, 2021															0	0		0	0		0	0
Temporary Equity at Jun. 30, 2021													566,000	$ (566,000)		$ 1,925,000	$ (1,925,000)		$ 21,111,000	$ (21,111,000)		$ 61,867,000	$ (61,867,000)
Temporary Equity (in shares) at Jun. 30, 2021																2,000,000	(2,000,000)		9,753,798	(9,753,798)		11,166,941	(11,166,941)
Balance at Jun. 30, 2021		(42,060,000)	$ 85,469,000	$ 43,409,000	$ 1,000	$ 2,000	$ 3,000	14,865,000	$ 85,467,000	$ 100,332,000	(56,926,000)	$ (56,926,000)
Balance (in shares) at Jun. 30, 2021					6,635,988	113,023,018	119,659,006
Net loss	(14,781,000)	(14,781,000)									(14,781,000)
Stock Options Exercised		33,000			$ 0			33,000
Stock Options Exercised (in shares)					69,458
Vesting of Restricted Common Stock		380,000						380,000
Vesting of Restricted Common Stock (in shares)					166,112
Merger and PIPE transaction, net of transaction costs, Value		526,505,000			$ 7,000			526,498,000
Merger and PIPE transaction, net of transaction costs, Shares					70,302,677
Stock-based compensation		2,121,000						2,121,000
Balance at Sep. 30, 2021	$ 557,667,000	$ 557,667,000			$ 10,000			$ 629,364,000			$ (71,707,000)
Balance (in shares) at Sep. 30, 2021					190,197,253
Temporary Equity at Sep. 30, 2021													$ 0		$ 0	$ 0		$ 0	$ 0		$ 0	$ 0			$ 0
Temporary Equity (in shares) at Sep. 30, 2021															0	0		0	0		0	0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (32,102)	$ (10,493)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,543	995
Non-cash research and development arrangements	1,205
Amortization of customer warrant	219	18
Offering costs associated with warrants	4,259
Stock-based compensation	5,929	681
Non-cash operating lease expense	184	46
Changes in operating assets and liabilities:
Accounts receivable	(3,691)	(293)
Prepaid expenses and other current assets	(3,950)	(428)
Other noncurrent assets	(39)	3
Accounts payable	(1,191)	178
Accrued expenses	1,714	214
Operating lease liabilities	(15)	14
Unearned revenue	4,084	743
Net cash used in operating activities	(21,851)	(8,322)
Cash flows from investing activities:
Purchases of property and equipment	(5,300)	(8,031)
Capitalized software development costs	(1,205)	(775)
Intangible asset acquisition costs	(414)	(286)
Proceeds from disposal of assets	5	1
Net cash used in investing activities	(6,914)	(9,091)
Cash flows from financing activities:
Proceeds from stock options exercised	5,424	29
Repurchase of early exercised stock options	(968)
Proceeds from merger and PIPE transaction, net of transaction costs	575,483
Net cash provided by financing activities	579,939	29
Net change in cash and cash equivalents	551,174	(17,384)
Cash and cash equivalents at the beginning of the period	36,120	59,527
Cash and cash equivalents at the end of the period	587,294	42,143
Supplemental disclosures of non-cash investing and financing transactions:
Issuance of common stock for intellectual property	1,567
Issuance of common stock for research and development arrangement	814
Property and equipment purchases in accounts payable and accrued expenses	309	320
Intangible asset purchases in accounts payable and accrued expenses	129	75
Transaction costs in accounts payable and accrued expenses	$ 2,620
Vesting of warrants		$ 566

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2021
Description of Business	1. Description of Business IonQ, Inc. (“IonQ” or “the Company”), formerly known as dMY Technology Group, Inc. III (“dMY”), was incorporated in the state of Delaware in September 2020 and formed as a special purpose acquisition company for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. IonQ Quantum, Inc. (formerly known as IonQ, Inc., and referred to as “Legacy IonQ” herein), was incorporated in the state of Delaware in September 2015 and is headquartered in College Park, Maryland. On March 7, 2021, Legacy IonQ entered into an Agreement and Plan of Merger (the “Merger Agreement”) with dMY and Ion Trap Acquisition Inc. (“Merger Sub”), a direct, wholly owned subsidiary of dMY. Pursuant to the Merger Agreement, on September 30, 2021 (“the Closing Date”), the Merger Sub was merged with and into Legacy IonQ with Legacy IonQ continuing as the surviving corporation following the Merger, becoming a wholly owned subsidiary of dMY and the separate corporate existence of the Merger Sub ceased (the “Business Combination”). Commensurate with the Business Combination, dMY changed its name to IonQ, Inc. and Legacy IonQ changed its name to IonQ Quantum, Inc. After the Business Combination, IonQ’s common stock and public warrants are traded on the New York Stock Exchange (“NYSE”) under the symbols “IONQ” and “IONQ WS,” respectively. Unless otherwise indicated, references in this Quarterly Report on Form 10-Q IonQ is engaged in quantum computing and develops general-purpose quantum computing systems designed to solve the world’s most complex problems, and transform business, society, and the planet for the better. Prior to 2019, the Company built certain quantum computing systems solely for research & development purposes. To operate the quantum computing systems, the Company has developed custom hardware, custom firmware, and an operating system to orchestrate the quantum computers. During 2019, the Company began to commercialize its quantum computing systems and entered into its first significant customer agreements. Currently, the Company permits customers to use the quantum computing systems through a quantum-computing-as-a-service Business Combination While the legal acquirer in the Merger Agreement is dMY, for financial accounting and reporting purposes under accounting principles generally accepted in the United States of America (“U.S. GAAP”), Legacy IonQ is the accounting acquirer and the merger is accounted for as a “reverse recapitalization” (i.e., a capital transaction involving the issuance of stock by dMY for the stock of Legacy IonQ). For accounting purposes, the Business Combination was treated as the equivalent of Legacy IonQ issuing stock for the net assets of dMY, accompanied by a recapitalization. The net assets of dMY are stated at historical cost, and no goodwill or other intangible assets were recorded. Because Legacy IonQ was deemed the accounting acquirer in the Business Combination, the historical financial statements of Legacy IonQ are the historical financial statements of the Company upon the consummation of the Business Combination. As a result, the financial statements included in this report reflect (i) the historical operating results of Legacy IonQ prior to the Business Combination; (ii) the combined results of dMY and Legacy IonQ following the close of the Business Combination on September 30, 2021; and (iii) the assets and liabilities of Legacy IonQ stated at their historical cost. In accordance with guidance applicable to these circumstances, the equity structure has been retroactively common stock At the Closing Date, the consummation of the Merger provided approximately $636.0 million of gross proceeds, including $345.0 million from the PIPE investment in Business Combination paid- i Additionally, approximately $4.3 million in offering costs were allocated to liability-classified warrants assumed in the Merger and expensed upon the close of the Business Combination. Sponsor Support Agreement Concurrently with the execution of the Merger Agreement, certain former dMY sto ckholders These provisions provide that (i) one-third of the Vesting Shares shall vest at such time as (x) the closing price of common stock equals or exceeds $12.50 for any 20 trading days during any period of 30 consecutive trading days or (y) IonQ consummates a subsequent transaction (as defined) on or before the date that is five years after the consummation of the Business Combination, (ii) one-third of the Vesting Shares shall vest at such time as (x) the closing price of common stock equals or exceeds $15.00 for any 20 trading days during any period of 30 consecutive trading days or (y) IonQ consummates a subsequent transaction (as defined), on or before the date that is five years after the consummation of the Business Combination and (iii) one-third of the Vesting Shares shall vest at such time as (x) the closing price of common stock equals or exceeds $17.50 for any 20 trading days during any period of 30 consecutive trading days or (y) IonQ consummates a subsequent transaction (as defined), on or before the date that is five years after the consummation of the Business Combination. Vesting Shares that remain unvested on the first business day after five years from the closing of the Business Combination will be surrendered to IonQ without any consideration for such transfer. The Vesting Shares are accounted for as equity classified instruments and Segment Reporting The Company operates as one operating segment as its chief executive officer, who is the chief operating decision maker, reviews financial information on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Preparation The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP as determined by the Financial Accounting Standards Board (“FASB”). Unaudited Interim Financial Information The interim condensed consolidated financial statements included in this quarterly report have been prepared by the Company and are unaudited, pursuant to the rules and regulations of the US our final proxy /prospectus August 12 Emerging Growth Company The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the Company’s financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. The Company remains an emerging growth company until the earliest of (i) December 31 , non-affiliates non-convertible Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Significant estimates and judgments are inherent in the analysis and measurement of items including, but not limited to revenue recognition, capitalization of internally developed software and quantum computing costs, useful lives of long-lived assets, commitments and contingencies, forecasts and assumptions used in determining the fair value of historically granted common stock and warrants prior to the Business Combination and forecasts and assumptions used in determining the fair value of warrant liabilities. Management bases its estimates and assumptions on historical experience, expectations, forecasts, and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may differ and be affected by changes in those estimates. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are non-interest September 30, 2021 December 31, Billed accounts receivable $ 4,080 $ 390 Unbilled accounts receivable 2 0 Total accounts receivable $ 4,082 $ 390 On a periodic basis, management evaluates its accounts receivable and determines whether to provide an allowance or if any accounts should be written off. This assessment is based on management’s evaluation of past due receivables, collectability of specific accounts, historical loss experience and overall economic conditions. The Company did not have any allowance for doubtful accounts as of September 30, 2021 and December 31, 2020. Revenue Recognition The Company derives revenue from providing access to its QCaaS and professional services related to co-developing For contracts with a fixed transaction price to provide stand-ready QCaaS access, the fixed fee is recognized as QCaaS subscription-based revenues on a straight-line basis over the access period. Any variable fees for usage over the contractual minimums are estimated at contract inception and recognized ratably over the access period unless such variable usage fees are probable of reversal in future periods. In those instances, variable usage fees are included in the determination of the transaction consideration once known. For contracts without fixed fees, variable usage fees are billed and recognized during the period of such usage. As of September 30, 2021, approximately $15.9 million of revenue is expected to be recognized from remaining performance obligations that are unsatisfied (or partially unsatisfied) for non-cancelable Early Exercise of Stock Options Stock options granted under the 2015 Equity Incentive Plan provide employee option holders, if approved by the Board, the right to exercise unvested options in exchange for restricted common stock, which is subject to a repurchase right held by the Company at the lower of (i) the fair market value of its common stock on the date of repurchase or (ii) the original purchase price. Early exercises of options are not deemed to be substantive exercises for accounting purposes and accordingly, amounts received for early exercises are recorded as a liability. In September 2021, we exercised our right to repurchase 100,000 shares related to the early exercise of stock options. The unvested shares were repurchased from an employee in connection with the termination of their service in exchange for $1.0 million. As of September 30, 2021, and December 31, 2020, there were 1,541,764 shares paid-in a result , Property and Equipment, Net Property and equipment, net is stated at cost less accumulated depreciation. Historical cost of fixed assets is the cost as of the date acquired. Prior to 2019, we built certain quantum computing systems solely for research and development purposes and these quantum computing systems were deemed to have no alternative future use. In 2019, we began to commercialize our quantum computing systems via the offering of QCaaS and quantum computing systems built thereafter were determined to provide a probable future economic benefit. As a result, hardware and labor costs associated with the building of such quantum computing systems were capitalized. Costs to maintain quantum computing systems are expensed as incurred. Depreciation and amortization are calculated using the straight-line method over the estimated useful life of two years for the quantum computing systems. Intangible Assets, Net The Company’s intangible assets include website domain costs, patents, intellectual property, and trademarks. Intangible assets with identifiable useful lives such as patents and intellectual property are initially valued at acquisition cost and are amortized over their estimated useful lives, which is generally 20 years, using the straight-line method. With respect to patents, acquisition costs include external legal and patent application costs. Intangible assets with indefinite useful lives are assessed for impairment at least annually. During the three months ended September 30, 2021 and 2020, the Company capitalized $0.2 million and $0.1 million, respectively, of intangible assets primarily related to intellectual property, and during the nine months ended September 30, 2021 and 2020, the Company capitalized $2.1 million and $0.3 million, respectively. Capitalized Internally Developed Software Capitalized internally developed software, which is included in intangible assets, net, consists of costs to purchase and develop internal-use internal-use , respectively , internal-use , internal-use , Fair Value of Financial Instruments Fair value is based on the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: • Level 1 — Observable inputs, which include unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than Level 1 inputs, such as quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are based on management’s assumptions, including fair value measurements determined by using pricing models, discounted cash flow methodologies or similar techniques. Due to their short-term nature, the carrying amounts reported in the Company’s financial statements approximates the fair value for cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and other current liabilities. Cash and cash equivalents include cash in banks, checking deposits and money market funds. The Company considers all short-term highly liquid investments with an original maturity at the date of purchase of three months or less to be cash equivalents. Warrant Liabilities The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging.” For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued 10 as non-current liabilities Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and trade accounts receivable. Cash balances are primarily invested in money market funds or on deposit at high credit quality financial institutions in the United States The Company’s accounts receivable are derived from revenue earned from customers primarily located in the United States Significant customers are those which represent more than 10% of the Company’s total revenue. The Company’s revenue was 2 significant Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing net income ( loss Earnings (loss) per share calculations for all periods prior to the Business Combination have been retroactively restated to reflect the conversion of the Company’s convertible redeemable preferred stock and the equivalent number of shares reflecting the exchange ratio established in the reverse capitalization. The following table sets forth the computation of basic and diluted loss per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, Numerator: 2021 2020 2021 2020 Net loss available to common stockholders $ (14,781 ) $ (3,565 ) $ (32,102 ) $ (10,493 ) Denominator: Weighted average shares used in computing net loss per share attributable to common stockholders – basic and diluted 120,605,457 115,369,517 119,535,167 114,597,135 Net loss per share attributable to common stockholders – basic and diluted $ (0.12 ) $ (0.03 ) $ (0.27 ) $ (0.09 ) In periods with a reported ne t Three Months Ended Nine Months Ended 2021 2020 2021 2020 Common stock options outstanding 24,844,683 16,775,118 24,765,944 16,149,250 Warrants to purchase common stock 8,301,202 8,301,202 8,301,202 8,301,202 Public and private warrants 125,000 — 42,125 — Unvested founders’ shares 8,152 — 2,747 — Unvested common stock 1,627,627 68,018 1,329,755 996,441 Total 34,906,664 25,144,338 34,441,773 25,446,893 Recently Issued Accounting Standards Not Yet Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): In August 2020, the FASB issued ASU 2020-06, Debt, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity’s Own Equity (Subtopic 815-40) Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity .

Property And Equipment, Net

Property And Equipment, Net	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property And Equipment, Net	3. PROPERTY AND EQUIPMENT, NET Property and equipment, net is composed of the following (in thousands): September 30, 2021 December 31, Computer equipment and acquired computer software $ 662 $ 364 Machinery, equipment, furniture, and fixtures 3,963 2,974 Leasehold improvements 818 736 Quantum computing systems 13,998 9,617 Gross p e 19,441 13,691 Less: accumulated depreciation (2,712 ) (1,703 ) Property and e , net $ 16,729 $ 11,988 Depreciation expense for the three months ended September 30, 2021 and 2020 was $0.4 million and $0.3 million, respective. Depreciation expense for the nine months ended September 30, 2021 and 2020 was $1.0 million and $0.8 million, respectively.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value Measurement	4. FAIR VALUE MEASUREMENT The Company follows the guidance in ASC Topic 820, Fair Value Measurements, for its financial assets and liabilities that are re-measured Fair Value Measured as of September 30, 2021: Level 1 Level 2 Level 3 Total Assets: Cash and cash $ 587,294 $ — $ — $ 587,294 Liabilities : Public w 25,938 — — 25,938 Private p w — — 24,412 24,412 Total liabilities $ 25,938 $ — $ 24,412 $ 50,350 Fair Value Measured as of December 31, 2020: Level 1 Level 2 Level 3 Total Assets: Cash and cash $ 36,120 $ — $ — $ 36,120 The Company’s warrant liabilities include both the p w p p w p w traded at $3.46 per warrant. The estimated fair value of the p p w p p w term Treasury zero-coupon The following table provides quantitative information regarding Level 3 fair value measurement inputs for the p p w September 30, 2021 Exercise Price $ 11.50 Stock Price $ 10.40 Volatility 74.8 % Term 5.00 Risk-free rate 0.98 % Dividend yield — % The Company did not have any Level 3 assets or liabilities as of December 31, 2020.

Agreements With UMD And DUKE

Agreements With UMD And DUKE	9 Months Ended
	Sep. 30, 2021
Agreement Disclosure [Abstract]
Agreements With UMD And DUKE	5. AGREEMENTS WITH UMD AND DUKE Exclusive License Agreement The Company entered into an exclusive license agreement (“License Agreement”) in July 2016 with the University of Maryland (“UMD”) and Duke University (“Duke”). The License Agreement grants to the Company an exclusive, perpetual license (“Initial Patents”) to certain patents, know-how trapped-ion non-exclusive non-profit non-profit On February 1, 2021, the Company and UMD executed two amendments to the License Agreement granting exclusive rights to license additional intellectual property in exchange for a total of 257,198 common shares after giving effect to the recapitalization. The shares had not been issued at the time the amendments were executed. Management evaluated the amendments and concluded that the arrangements qualify as equity-classified instruments and recorded an intangible asset and additional paid in capital based on the fair value of the shares at the date the amendments were executed of $1.6 million. The shares for each executed amendment were issued during the nine months ended September 30, 2021. Exclusive Option Agreements The Company also entered into an exclusive option agreement (“Option Agreement”) with each of UMD and Duke in 2016 whereby on the anniversary of the effective date of the License Agreement for a period of 5 years, the Company has the right to exclusively license additional intellectual property developed by UMD and Duke (the “Additional Patents” and together with the Initial Patents, the “Licensed Patents”) by exercising an annual option and the 5-year term The Company recognized $0.1 million and $0.4 million of research and development expense related to the agreement with Duke during the three and nine months ended September 30, 2021, respectively. The agreements were not executed as of September 30, 2020 and therefore no research and development expense was recognized for the three and nine months ended September 30, 2020. On February 4, 2021, the Company and UMD amended the UMD Option Agreement to provide for the issuance of the remaining 128,599 shares of common stock after giving effect to the recapitalization to UMD as a nonrefundable upfront payment in exchange for research and development services by UMD and rights to any potential future intellectual property developed through July 2021. The fair value of the shares to be issued to UMD at the date the amendment was executed was $0.8 million. The shares were issued to UMD during the nine months ended September 30, 2021. The Company recognized $0.1 million and $0.8 million of research and development expense associated with the UMD Option Agreement amendment for the three and nine months ended September 30, 2021, respectively. The UMD Option Agreement was not executed as of September 30, 2020 and therefore no research and development expense was recognized for the three and nine months ended September 30, 2020. Additionally, under the terms of the License Agreement and Option Agreement, UMD was provided an exit guarantee if a sale or liquidation of the Company would occur that provides for the following: • acceleration of the issuance of common stock as if exercised through the License Agreement, • additional consideration equal to the consideration which a holder of one-half The exit guarantee was not modified as a result of the amendment to the Option Agreement. The Business Combination did not trigger this provision as the UMD Option Agreement terminated in July 2021.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies	6. COMMITMENTS AND CONTINGENCIES Warranties and Indemnification The Company’s commercial services are typically warranted to perform in a manner consistent with general industry standards that are reasonably applicable and materially in accordance with the Company’s documentation under normal use and circumstances. The Company’s arrangements generally include certain provisions for indemnifying customers against liabilities if its products or services infringe third-party intellectual property rights. To date, the Company has not incurred any material costs as a result of such obligations and has not accrued any liabilities related to such obligations in the accompanying condensed consolidated financial statements. Litigation On January 12, 2021, dMY Technology Group, Inc. II, dMY Sponsor II, LLC, dMY, and dMY Sponsor III, LLC (“Sponsor”) accepted service of a lawsuit where they were named as counterclaim defendants in an underlying action by and between GTY Technology Holdings, Inc. (“GTY”), dMY Technology Holdings Inc., dMY Sponsor, LLC, dMY Sponsor II, LLC, dMY Technology Group Inc. II, dMY and Sponsor (collectively “dMY Defendants”) and Carter Glatt (“Glatt”) and Captains Neck Holdings LLC (“Captains Neck”), an entity of which Mr. Glatt is a member. The underlying lawsuit, filed by dMY Technology Group, Inc. and dMY Sponsor, LLC, seeks a declaratory judgment that Glatt and Captains Neck are not entitled to membership units of dMY Sponsor LLC, which was formed by Harry L. You, the co-founder and former President and Chief Financial Officer of GTY when Glatt was still working at GTY. The underlying lawsuit contains claims arising from Glatt’s termination of employment from GTY, including theft and misappropriation of confidential GTY information, breach of contract, breach of the duties of loyalty and fiduciary duty and conversion. Glatt responded to the underlying lawsuit by adding members of the Sponsor and officers of dMY as additional counterclaim defendants (collectively with the dMY Defendants Glatt and Captains neck, the “Counterclaim Defendants”) and adding Dune Acquisition Holdings LLC, a newly formed special purpose acquisition company, as a counterclaimant and asserting claims for breach of contract, fraudulent misrepresentation, negligent misrepresentation, tortious interference with business relations, quantum meruit and unjust enrichment. dMY, and now the Company, has never employed Glatt and has no business agreements with him. The Counterclaim Defendants have denied the claims against them and have filed a motion to dismiss the suit.

Income Tax

Income Tax	9 Months Ended
	Sep. 30, 2021
Income Tax	7. INCOME TAX The Company had no provision for income taxes in any period presented. The effective tax rate for each period differs from the statutory rate primarily as a result of not recognizing a deferred tax asset for losses due to having a full valuation allowance against deferred tax assets. The realization of tax benefits of deferred tax assets is dependent upon future levels of taxable income, of an appropriate character, in the periods the items are expected to be deductible or taxable. Based on the available objective evidence, the Company does not believe it is more likely than not that the net deferred tax assets will be realizable. Accordingly, the Company has provided a full valuation allowance against the net deferred tax assets as of

Warrant Transaction Agreement

Warrant Transaction Agreement	9 Months Ended
	Sep. 30, 2021
Warrant Transaction Agreement [Abstract]
Warrant Transaction Agreement	8. WARRANT TRANSACTION AGREEMENT In November 2019, contemporaneously with a revenue arrangement, the Company entered into a contract, pursuant to which the Company agreed to issue to a customer, warrants to acquire shares of Legacy IonQ Series B-1 IonQ Series B-1 preferred stock IonQ Series B-1 preferred stock 8-K As the Warrant Shares were issued in connection with an existing commercial agreement with a customer, the value of the Warrant Shares were determined to be consideration payable to the customer and consequently are treated as a reduction to revenue recognized under the corresponding revenue arrangement. As a result, $0.1 million and $0.02 million of warrant amortization was recognized against revenue in the three months ended September 30, 2021 and September 30, 2020, respectively, and $0.2 million and $0.02 million of warrant amortization was recognized against revenue in the nine months ended September 30, 2021 and September 30, 2020, respectively. Under the terms of the warrant agreement, 6.5% of the Warrant Shares will vest and be immediately exercisable on the date of the public announcement of the availability of the Company’s hardware on the cloud provider’s platform. The Warrant Shares have an exercise price of $1.38 per share and are exercisable through November 2029. The fair value of the Warrant Shares at the date of issuance was determined to be $8.7 million. As of September 30, 2021, Warrant Shares with a fair value of $0.6 million were vested. The fair value of the unamortized warrants as of September 30, 2021 is $0.3 million and is recorded within other noncurrent assets and will be amortized over time as the related customer revenue is earned.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity	9. STOCKHOLDERS’ EQUITY Our amended and restated certificate of incorporation authorizes us to issue up to 1,000,000,000 shares of common stock, $0.0001 par value per share, and 20,000,000 shares of preferred stock, par value $0.0001 per share. No preferred stock has been issued as of September 30, 2021. Common Stock The terms, rights, preference, and privileges of the common stock are as follows: Voting Rights Except as otherwise required by law or as otherwise provided in any certificate of designation for any series of preferred stock, each holder of common stock possess all voting power for the election of our directors and all other matters requiring stockholder action. Holders of common stock are entitled to one vote per share on matters to be voted on by stockholders. The Company’s certificate of incorporation and bylaws do not provide for cumulative voting rights. Dividends Subject to preferences that may be applicable to any then outstanding preferred stock, the holders of common stock may be entitled to receive dividends out of legally available funds if the board of directors, in its discretion, determines to issue dividends and then only at the times and in the amounts that the board of directors may determine. We do not anticipate paying any cash dividends in the foreseeable future. Liquidation In the event of our voluntary or involuntary liquidation, dissolution, distribution of assets or winding-up, the Rights and Preference Holders of the Company’s common stock have no preemptive or other subscription rights, and there are no sinking fund or redemption provisions applicable to the common stock. The rights, preferences, and privileges of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of the Company’s preferred stock that are or may be issued. Currently no preferred stock has been issued as of September 30, 2021. Preferred Stock Under our amended and restated certificate of incorporation, our board of directors may, without further action by our stockholders, fix the rights, preferences, privileges and restrictions of up to an aggregate of 20,000,000 shares of preferred stock in one or more series and authorize their issuance. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences and the number of shares constituting any series or the designation of such series, any or all of which may be greater than the rights of common stock. Any issuance of preferred stock could adversely affect the voting power of holders of common stock and the likelihood that such holders would receive dividend payments and payments on liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deterring or preventing a change of control or other corporate action. No shares of preferred stock have been issued as of September 30, 2021.

Warrant Liabilities

Warrant Liabilities	9 Months Ended
	Sep. 30, 2021
Warrant Liabilities [Abstract]
Warrant Liabilities	10. WARRANT LIABILITIES As of September 30, 2021, there were 11,500,000 w p w p p w Public w The p w p w p w Redemption of warrants when the price per share of common stock equals or exceeds $18.00: Once the warrants become exercisable, the Company may redeem the outstanding warrants for cash: • in whole and not in part; • at a price of $0.01 per warrant; • upon a minimum of 30 days’ prior written notice of redemption; and • if, and only if, the closing price of common stock equals or exceeds $18.00 per share (as adjusted) for any 20 trading days within a 30-trading Redemption of warrants for when the price per share of common stock equals or exceeds $10.00 Once the warrants become exercisable, the Company may redeem the outstanding warrants: • in whole and not in part; • at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares determined by reference to an agreed table based on the redemption date and the fair market value (as defined within the warrant agreement) of the common stock except as otherwise described within the warrant agreement • if, and only if, the closing price of common stock equals or exceeds $10.00 per public share (as adjusted) for any 20 trading days within the 30-trading day period ending three trading days before the Company sends notice of redemption to the warrant holders. Private p w The private placement warrants are identical to the public warrants, except that the private placement warrants and the shares of common stock issuable upon exercise of the private placement warrants will not be transferable, assignable, or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the private placement warrants will be non-redeemable

Share Based Compensation

Share Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation	1 1 The Company has a 2015 Equity Incentive Plan (the “2015 Plan”) which provides for the grant of share-based compensation in the form of awards of options, stock appreciation rights, restricted stock awards and restricted stock units, to certain officers, directors, employees, consultants, and advisors to purchase shares of the Company’s common stock. Upon the Closing of the Business Combination, outstanding Legacy IonQ stock options under the 2015 Plan were assumed by the Company. Each Legacy IonQ stock option issued and outstanding immediately prior to the Business Combination was converted into an option to purchase shares of common stock of the Company equal to the product of (a) the number of shares of Legacy IonQ common stock subject to such Legacy IonQ stock option agreement immediately prior to the Business Combination and (b) the exchange ratio at an exercise price equal to the (i) the exercise price per share of such Legacy IonQ stock option divided by (ii) the exchange ratio. Such stock options will continue to be governed by the terms of the 2015 Plan and the stock option agreements thereunder, until such outstanding options are exercised or until they terminate or expire by their terms. No further awards will be made pursuant to the 2015 Plan. For awards granted under the 2015 Plan, vesting generally occurs over four to five years from the date of grant and all options granted have a contractual term of 10 years. Vested options held at the date of an employee’s termination may be exercised within three months. The Company records forfeitures as they occur. In August 2021, the Company’s board of directors adopted the 2021 Equity Incentive Plan (the “2021 Plan”) and the stockholders approved the 2021 Plan in September 2021. The 2021 Plan became effective immediately upon the closing of the Business Combination. The 2021 Plan provides for the grant of stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance awards and other forms of awards to employees, directors, and consultants. Initially, a maximum of 26,235,000 shares of common stock may be issued under the 2021. The number of shares of the Company’s common stock reserved for issuance under the 2021 Plan automatically increases on January 1 of each year, beginning on January 1, 2022 and continuing through and including January 1, 2031, by 5% of the Fully Diluted Common Stock (as defined in the 2021 Plan) outstanding on December 31 of the preceding year, or a lesser number of shares determined by the Company’s board of directors prior to such increase. No shares or awards were granted under the 2021 Plan as of September 30, 2021. The Company estimates the fair value of stock options on the date of grant using the Black-Scholes option-pricing model. The Black-Scholes option-pricing model requires estimates of highly subjective assumptions, which affect the fair value of each stock option. Expected Volatility Expected Term The Company has estimated the expected term of its employee awards using the SAB Topic 14 Simplified Method allowed by the FASB and SEC, for calculating expected term as it has limited historical exercise data to provide a reasonable basis upon which to otherwise estimate expected term. Certain of the Company’s options began vesting prior to the grant date, in which case the Company uses the remaining vesting term at the grant date in the expected term calculation. Risk-Free Interest Rate non-inflation-indexed Dividend Yield Fair Value of Underlying Common Stock b d c r p s The assumptions used to estimate the fair value of stock options granted during the three and nine months ended September 30, 2021 and 2020 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Risk- Free Interest Rate — % 0.36 % 0.96 % 1.18 % Expected Term (in years) — 6.37 6.26 6.20 Expected Volatility — % 73.07 % 77.04 % 71.11 % Dividend Yield — % — % — % — % A summary of the stock option activity is as follows: Number of Weighted Weighted Aggregate Outstanding as of December 31, 2019 13,933,956 $ 0.13 8.80 5.00 Granted 3,620,559 $ 0.46 Exercised (235,887 ) $ 0.13 Cancelled/ Forfeited (219,410 ) $ 0.13 Outstanding as of September 30, 2020 17,099,218 $ 0.20 8.36 7.85 Number of Weighted Weighted Aggregate Outstanding as of December 31, 2020 21,863,368 $ 0.34 8.67 44.80 Granted 6,492,540 $ 2.39 Exercised (3,308,594 ) $ 1.64 Cancelled/ Forfeited (1,212,609 ) $ 1.91 Outstanding as of September 30, 2021 23,834,705 $ 0.64 8.15 227.89 Exercisable as of September 30, 2021 7,476,990 $ 0.25 7.43 74.37 Exercisable and expected to vest at September 30, 2021 23,834,705 $ 0.64 8.15 227.89 The total intrinsic value of options exercised was $28.3 million and $0.1 million for the nine months ended September 30, 2021 and 2020, respectively. The weighted-average grant date fair value per share for the stock options granted during the nine months ended September 30, 2021 and 2020 was $5.83 and $0.35, respectively. The aggregate grant-date fair value of options vested during the nine months ended September 30, 2021 and 2020 was $5.04 million and $0.51 million, respectively. As of September 30, 2021, the total unrecognized compensation cost related to unvested stock option awards was $33.79 million, which the Company expects to recognize over a weighted-average period of approximately 2.11 Total stock-based compensation expense for both stock option awards and unvested restricted shares which is included in the condensed consolidated financial statements as follows (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Cost of revenue $ 15 $ — $ 46 $ — Research and development 1,181 76 2,351 349 Sales and marketing 22 — 47 — General and administrative 837 105 3,485 332 Stock-based compensation, net of amounts capitalized 2,055 181 5,929 681 Capitalized stock-based compensation – Intangibles and fixed assets 66 70 199 101 Total stock-based compensation $ 2,121 $ 251 $ 6,128 $ 782

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transaction [Line Items]
Related Party Transactions	1 2 Transactions with UMD and Duke As described in Note 5 Agreements with UMD and Duke Co- F Co- F In addition, the Company entered into an amendment to its operating lease for office space with UMD. The lease was amended with UMD in March 2020 to extend the terms of the agreement for the existing premise and lease additional expansion premise and was amended in December 2020 to provide additional rent adjustments. Refer to Note 12 of the audited financial statements for the year ended December 31, 2020 for additional information regarding the Company’s leases. In September 2021, the Company entered into a multiyear deal with UMD UMD The Company’s results from transactions with UMD and Duke, as reflected in the Condensed Consolidated Statements of Operations and Comprehensive Loss are detailed below (in thousands): Three Months Ended Nine Months Ended September 30, 2021 2020 2021 2020 Revenue 164 — 164 — Cost of revenue 34 — 34 — Research and development 313 7 1,649 117 Sales and marketing 8 — 8 — General and administrative 59 55 189 71 The Company has the following balances related to transactions with UMD and Duke, as reflected in the Consolidated Balance Sheets (in thousands): September 30, 2021 December 31, 2020 Assets Accounts receivable 4,000 — Prepaid expenses and other current assets 520 1,013 Operating lease right-of-use 4,098 4,296 Other noncurrent assets 1,975 2,365 Liabilities Accounts payable 15 5 Current operating lease liabilities 564 495 Unearned r 3,836 — Non-current 3,681 3,776

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Basis of Presentation	Basis of Preparation The accompanying condensed consolidated financial statements have been prepared in accordance with U.S. GAAP as determined by the Financial Accounting Standards Board (“FASB”).
Unaudited Interim Financial Information	Unaudited Interim Financial Information The interim condensed consolidated financial statements included in this quarterly report have been prepared by the Company and are unaudited, pursuant to the rules and regulations of the US our final proxy /prospectus August 12
Emerging Growth Company	Emerging Growth Company The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, the Company’s financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. The Company remains an emerging growth company until the earliest of (i) December 31 , non-affiliates non-convertible
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Significant estimates and judgments are inherent in the analysis and measurement of items including, but not limited to revenue recognition, capitalization of internally developed software and quantum computing costs, useful lives of long-lived assets, commitments and contingencies, forecasts and assumptions used in determining the fair value of historically granted common stock and warrants prior to the Business Combination and forecasts and assumptions used in determining the fair value of warrant liabilities. Management bases its estimates and assumptions on historical experience, expectations, forecasts, and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may differ and be affected by changes in those estimates.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are non-interest September 30, 2021 December 31, Billed accounts receivable $ 4,080 $ 390 Unbilled accounts receivable 2 0 Total accounts receivable $ 4,082 $ 390 On a periodic basis, management evaluates its accounts receivable and determines whether to provide an allowance or if any accounts should be written off. This assessment is based on management’s evaluation of past due receivables, collectability of specific accounts, historical loss experience and overall economic conditions. The Company did not have any allowance for doubtful accounts as of September 30, 2021 and December 31, 2020.
Revenue Recognition	Revenue Recognition The Company derives revenue from providing access to its QCaaS and professional services related to co-developing For contracts with a fixed transaction price to provide stand-ready QCaaS access, the fixed fee is recognized as QCaaS subscription-based revenues on a straight-line basis over the access period. Any variable fees for usage over the contractual minimums are estimated at contract inception and recognized ratably over the access period unless such variable usage fees are probable of reversal in future periods. In those instances, variable usage fees are included in the determination of the transaction consideration once known. For contracts without fixed fees, variable usage fees are billed and recognized during the period of such usage. As of September 30, 2021, approximately $15.9 million of revenue is expected to be recognized from remaining performance obligations that are unsatisfied (or partially unsatisfied) for non-cancelable
Early Exercise of Stock Options	Early Exercise of Stock Options Stock options granted under the 2015 Equity Incentive Plan provide employee option holders, if approved by the Board, the right to exercise unvested options in exchange for restricted common stock, which is subject to a repurchase right held by the Company at the lower of (i) the fair market value of its common stock on the date of repurchase or (ii) the original purchase price. Early exercises of options are not deemed to be substantive exercises for accounting purposes and accordingly, amounts received for early exercises are recorded as a liability. In September 2021, we exercised our right to repurchase 100,000 shares related to the early exercise of stock options. The unvested shares were repurchased from an employee in connection with the termination of their service in exchange for $1.0 million. As of September 30, 2021, and December 31, 2020, there were 1,541,764 shares paid-in a result ,
Property and Equipment, Net	Property and Equipment, Net Property and equipment, net is stated at cost less accumulated depreciation. Historical cost of fixed assets is the cost as of the date acquired. Prior to 2019, we built certain quantum computing systems solely for research and development purposes and these quantum computing systems were deemed to have no alternative future use. In 2019, we began to commercialize our quantum computing systems via the offering of QCaaS and quantum computing systems built thereafter were determined to provide a probable future economic benefit. As a result, hardware and labor costs associated with the building of such quantum computing systems were capitalized. Costs to maintain quantum computing systems are expensed as incurred. Depreciation and amortization are calculated using the straight-line method over the estimated useful life of two years for the quantum computing systems.
Intangible Asset, Net	Intangible Assets, Net The Company’s intangible assets include website domain costs, patents, intellectual property, and trademarks. Intangible assets with identifiable useful lives such as patents and intellectual property are initially valued at acquisition cost and are amortized over their estimated useful lives, which is generally 20 years, using the straight-line method. With respect to patents, acquisition costs include external legal and patent application costs. Intangible assets with indefinite useful lives are assessed for impairment at least annually. During the three months ended September 30, 2021 and 2020, the Company capitalized $0.2 million and $0.1 million, respectively, of intangible assets primarily related to intellectual property, and during the nine months ended September 30, 2021 and 2020, the Company capitalized $2.1 million and $0.3 million, respectively.
Capitalized Internally Developed Software	Capitalized Internally Developed Software Capitalized internally developed software, which is included in intangible assets, net, consists of costs to purchase and develop internal-use internal-use , respectively , internal-use , internal-use ,
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is based on the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: • Level 1 — Observable inputs, which include unadjusted quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than Level 1 inputs, such as quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are based on management’s assumptions, including fair value measurements determined by using pricing models, discounted cash flow methodologies or similar techniques. Due to their short-term nature, the carrying amounts reported in the Company’s financial statements approximates the fair value for cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, and other current liabilities. Cash and cash equivalents include cash in banks, checking deposits and money market funds. The Company considers all short-term highly liquid investments with an original maturity at the date of purchase of three months or less to be cash equivalents.
Warrant Liabilities	Warrant Liabilities The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging.” For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued 10 as non-current liabilities
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and trade accounts receivable. Cash balances are primarily invested in money market funds or on deposit at high credit quality financial institutions in the United States The Company’s accounts receivable are derived from revenue earned from customers primarily located in the United States Significant customers are those which represent more than 10% of the Company’s total revenue. The Company’s revenue was 2 significant
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing net income ( loss Earnings (loss) per share calculations for all periods prior to the Business Combination have been retroactively restated to reflect the conversion of the Company’s convertible redeemable preferred stock and the equivalent number of shares reflecting the exchange ratio established in the reverse capitalization. The following table sets forth the computation of basic and diluted loss per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, Numerator: 2021 2020 2021 2020 Net loss available to common stockholders $ (14,781 ) $ (3,565 ) $ (32,102 ) $ (10,493 ) Denominator: Weighted average shares used in computing net loss per share attributable to common stockholders – basic and diluted 120,605,457 115,369,517 119,535,167 114,597,135 Net loss per share attributable to common stockholders – basic and diluted $ (0.12 ) $ (0.03 ) $ (0.27 ) $ (0.09 ) In periods with a reported ne t Three Months Ended Nine Months Ended 2021 2020 2021 2020 Common stock options outstanding 24,844,683 16,775,118 24,765,944 16,149,250 Warrants to purchase common stock 8,301,202 8,301,202 8,301,202 8,301,202 Public and private warrants 125,000 — 42,125 — Unvested founders’ shares 8,152 — 2,747 — Unvested common stock 1,627,627 68,018 1,329,755 996,441 Total 34,906,664 25,144,338 34,441,773 25,446,893
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): In August 2020, the FASB issued ASU 2020-06, Debt, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging Contracts in Entity’s Own Equity (Subtopic 815-40) Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity .

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted loss per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, Numerator: 2021 2020 2021 2020 Net loss available to common stockholders $ (14,781 ) $ (3,565 ) $ (32,102 ) $ (10,493 ) Denominator: Weighted average shares used in computing net loss per share attributable to common stockholders – basic and diluted 120,605,457 115,369,517 119,535,167 114,597,135 Net loss per share attributable to common stockholders – basic and diluted $ (0.12 ) $ (0.03 ) $ (0.27 ) $ (0.09 )
Summary of Loans and Financing Receivable	Accounts Receivable are composed of the following (in thousands): September 30, 2021 December 31, Billed accounts receivable $ 4,080 $ 390 Unbilled accounts receivable 2 0 Total accounts receivable $ 4,082 $ 390
Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following is a summary of the weighted average common stock equivalents for the securities outstanding during the respective periods that have been excluded from the computation of diluted net loss per common share, as their effect would be anti-dilutive: Three Months Ended Nine Months Ended 2021 2020 2021 2020 Common stock options outstanding 24,844,683 16,775,118 24,765,944 16,149,250 Warrants to purchase common stock 8,301,202 8,301,202 8,301,202 8,301,202 Public and private warrants 125,000 — 42,125 — Unvested founders’ shares 8,152 — 2,747 — Unvested common stock 1,627,627 68,018 1,329,755 996,441 Total 34,906,664 25,144,338 34,441,773 25,446,893

Property And Equipment, Net (Ta

Property And Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Summary Of Property And Equipment, Net	Property and equipment, net is composed of the following (in thousands): September 30, 2021 December 31, Computer equipment and acquired computer software $ 662 $ 364 Machinery, equipment, furniture, and fixtures 3,963 2,974 Leasehold improvements 818 736 Quantum computing systems 13,998 9,617 Gross p e 19,441 13,691 Less: accumulated depreciation (2,712 ) (1,703 ) Property and e , net $ 16,729 $ 11,988

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Summary of fair value measurements on a recurring basis and the level of inputs	The Company’s financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used for such measurements were as follows (in thousands): Fair Value Measured as of September 30, 2021: Level 1 Level 2 Level 3 Total Assets: Cash and cash $ 587,294 $ — $ — $ 587,294 Liabilities : Public w 25,938 — — 25,938 Private p w — — 24,412 24,412 Total liabilities $ 25,938 $ — $ 24,412 $ 50,350 Fair Value Measured as of December 31, 2020: Level 1 Level 2 Level 3 Total Assets: Cash and cash $ 36,120 $ — $ — $ 36,120
Summary of fair value measurements inputs	The following table provides quantitative information regarding Level 3 fair value measurement inputs for the p p w September 30, 2021 Exercise Price $ 11.50 Stock Price $ 10.40 Volatility 74.8 % Term 5.00 Risk-free rate 0.98 % Dividend yield — %

Share Based Compensation (Table

Share Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Summary of Share Based Payment Award Stock Options Valuation Assumptions	The assumptions used to estimate the fair value of stock options granted during the three and nine months ended September 30, 2021 and 2020 are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Risk- Free Interest Rate — % 0.36 % 0.96 % 1.18 % Expected Term (in years) — 6.37 6.26 6.20 Expected Volatility — % 73.07 % 77.04 % 71.11 % Dividend Yield — % — % — % — %
Summary of the Stock Option Activity	A summary of the stock option activity is as follows: Number of Weighted Weighted Aggregate Outstanding as of December 31, 2019 13,933,956 $ 0.13 8.80 5.00 Granted 3,620,559 $ 0.46 Exercised (235,887 ) $ 0.13 Cancelled/ Forfeited (219,410 ) $ 0.13 Outstanding as of September 30, 2020 17,099,218 $ 0.20 8.36 7.85 Number of Weighted Weighted Aggregate Outstanding as of December 31, 2020 21,863,368 $ 0.34 8.67 44.80 Granted 6,492,540 $ 2.39 Exercised (3,308,594 ) $ 1.64 Cancelled/ Forfeited (1,212,609 ) $ 1.91 Outstanding as of September 30, 2021 23,834,705 $ 0.64 8.15 227.89 Exercisable as of September 30, 2021 7,476,990 $ 0.25 7.43 74.37 Exercisable and expected to vest at September 30, 2021 23,834,705 $ 0.64 8.15 227.89
Summary of Stock-based Compensation Expenses for Stock Options and Unvested Restricted Shares	Total stock-based compensation expense for both stock option awards and unvested restricted shares which is included in the condensed consolidated financial statements as follows (in thousands): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Cost of revenue $ 15 $ — $ 46 $ — Research and development 1,181 76 2,351 349 Sales and marketing 22 — 47 — General and administrative 837 105 3,485 332 Stock-based compensation, net of amounts capitalized 2,055 181 5,929 681 Capitalized stock-based compensation – Intangibles and fixed assets 66 70 199 101 Total stock-based compensation $ 2,121 $ 251 $ 6,128 $ 782

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2021
Related Party Transaction [Line Items]
Schedule of Related Party Transactions	The Company’s results from transactions with UMD and Duke, as reflected in the Condensed Consolidated Statements of Operations and Comprehensive Loss are detailed below (in thousands): Three Months Ended Nine Months Ended September 30, 2021 2020 2021 2020 Revenue 164 — 164 — Cost of revenue 34 — 34 — Research and development 313 7 1,649 117 Sales and marketing 8 — 8 — General and administrative 59 55 189 71 The Company has the following balances related to transactions with UMD and Duke, as reflected in the Consolidated Balance Sheets (in thousands): September 30, 2021 December 31, 2020 Assets Accounts receivable 4,000 — Prepaid expenses and other current assets 520 1,013 Operating lease right-of-use 4,098 4,296 Other noncurrent assets 1,975 2,365 Liabilities Accounts payable 15 5 Current operating lease liabilities 564 495 Unearned r 3,836 — Non-current 3,681 3,776

Description of Business - Addi

Description of Business - Additional Information (Detail) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)$ / shares	Sep. 30, 2021USD ($)segment$ / sharesshares	Dec. 31, 2020$ / shares
Organization Business And Basis Of Presentation [Line Items]
Common stock, par value | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Number of operating segment | segment		1
Offering Costs Associated With Warrants	$ 4,259	$ 4,259
Sponsor Support Agreement [Member]
Organization Business And Basis Of Presentation [Line Items]
Vesting provisions of shares		These provisions provide that (i) one-third of the Vesting Shares shall vest at such time as (x) the closing price of common stock equals or exceeds $12.50 for any 20 trading days during any period of 30 consecutive trading days or (y) IonQ consummates a subsequent transaction (as defined) on or before the date that is five years after the consummation of the Business Combination, (ii) one-third of the Vesting Shares shall vest at such time as (x) the closing price of common stock equals or exceeds $15.00 for any 20 trading days during any period of 30 consecutive trading days or (y) IonQ consummates a subsequent transaction (as defined), on or before the date that is five years after the consummation of the Business Combination and (iii) one-third of the Vesting Shares shall vest at such time as (x) the closing price of common stock equals or exceeds $17.50 for any 20 trading days during any period of 30 consecutive trading days or (y) IonQ consummates a subsequent transaction (as defined), on or before the date that is five years after the consummation of the Business Combination.
Dmy Technology Group, Inc [Member]
Organization Business And Basis Of Presentation [Line Items]
Business Combination, gross proceeds		$ 636,000
Business Combination Equity Interests Issued and Issuable		$ 345,000
Business Acquisition, Share Price | $ / shares	$ 10	$ 10
Business Acquisition, Transaction Costs	$ 52,000	$ 52,000
IONQDmy Technology Group Inc [Member]
Organization Business And Basis Of Presentation [Line Items]
Offering Costs Associated With Warrants		$ 4,300
Common Class B [Member] | Sponsor Support Agreement [Member] | Vesting Shares [Member]
Organization Business And Basis Of Presentation [Line Items]
Percentage of conversion of stock at the consummation of the business combination		10.00%
Number of shares converted into shares of common stock at the consummation of Business combination | shares		750,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Schedule of Earnings Per Share, Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net loss available to common stockholders	$ (14,781)	$ (3,565)	$ (32,102)	$ (10,493)
Denominator:
Weighted average shares used in computing net loss per share attributable to common stockholders – basic and diluted	120,605,457	115,369,517	119,535,167	114,597,135
Net loss per share attributable to common stockholders – basic and diluted	$ (0.12)	$ (0.03)	$ (0.27)	$ (0.09)

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Loans and Financing Receivable (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 4,082	$ 390
Billed Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	4,080	390
Unbilled Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 2	$ 0

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	34,906,664	25,144,338	34,441,773	25,446,893
Common stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	24,844,683	16,775,118	24,765,944	16,149,250
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	8,301,202	8,301,202	8,301,202	8,301,202
Public and private warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	125,000		42,125
Unvested founders' shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	8,152		2,747
Unvested common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	1,627,627	68,018	1,329,755	996,441

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)customersshares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)customersshares	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)shares	Dec. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Significant Accounting Policies [Line Items]
Intangible asset capitalized during period	$ 500	$ 300
Finite lived intangible asset, useful life			20 years
Stock repurchase program, remaining authorized repurchase amount	$ 3,400		$ 3,400
Stock subject to repurchase related to stock options early exercised and unvested | shares	1,541,764		1,541,764		0
Revenue, remaining performance obligation, amount	$ 15,900		$ 15,900				$ 1,100
Allowance for doubtful accounts	$ 0		$ 0		$ 0
Stock Repurchased and Retired During Period, Shares | shares			100,000
Stock Repurchased and Retired During Period, Value			$ 1,000
Revenues			$ 1,070,000
Quantum Computer Systems [Member]
Significant Accounting Policies [Line Items]
Property, plant and equipment, useful life			2 years
Subsequent Event [Member]
Significant Accounting Policies [Line Items]
Revenue, remaining performance obligation, amount						$ 4,500
Minimum [Member]
Significant Accounting Policies [Line Items]
Market value of the Company's common stock			$ 700,000
Revenue Benchmark [Member] | Revenue from Rights Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Number of customers over ten percent benchmark | customers	2		3
Revenue Benchmark [Member] | Revenue from Rights Concentration Risk [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Concentration risk, percentage	10.00%
Intellectual Property [Member]
Significant Accounting Policies [Line Items]
Intangible asset capitalized during period	$ 200	100	$ 2,100	$ 300
Software and Software Development Costs [Member]
Significant Accounting Policies [Line Items]
Intangible asset capitalized during period			1,300	800
Finite lived intangible asset, useful life					3 years
Internally Developed Software [Member]
Significant Accounting Policies [Line Items]
Amortization of intangible assets	$ 200	$ 100
Intangible asset capitalized during period			500	$ 200
Non Convertible Debt Securities [Member]
Significant Accounting Policies [Line Items]
Proceeds from Issuance of Debt			$ 1,000,000

Property And Equipment, Net - S

Property And Equipment, Net - Summary Of Property And Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 19,441	$ 13,691
Less: accumulated depreciation	(2,712)	(1,703)
Property and equipment, net	16,729	11,988
Computer equipment and acquired computer software
Property, Plant and Equipment [Line Items]
Gross property and equipment	662	364
Machinery, equipment, furniture, and fixtures
Property, Plant and Equipment [Line Items]
Gross property and equipment	3,963	2,974
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	818	736
Quantum computing systems [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 13,998	$ 9,617

Property And Equipment, Net - A

Property And Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation	$ 0.4	$ 0.3	$ 1	$ 0.8

Fair Value Measurements - Summa

Fair Value Measurements - Summary of fair value measurements on a recurring basis and the level of inputs (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Cash and cash equivalents	$ 587,294	$ 36,120
Liabilities:
Total liabilities	50,350
Public Warrants [Member]
Liabilities:
Derivative warrant liabilities	25,938
Private Placement Warrants [Member]
Liabilities:
Derivative warrant liabilities	24,412
Quoted Prices in Active Markets (Level 1) [Member]
Assets:
Cash and cash equivalents	587,294	36,120
Liabilities:
Total liabilities	25,938
Quoted Prices in Active Markets (Level 1) [Member] | Public Warrants [Member]
Liabilities:
Derivative warrant liabilities	25,938
Quoted Prices in Active Markets (Level 1) [Member] | Private Placement Warrants [Member]
Liabilities:
Derivative warrant liabilities	0
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Cash and cash equivalents
Liabilities:
Total liabilities
Significant Other Observable Inputs (Level 2) [Member] | Public Warrants [Member]
Liabilities:
Derivative warrant liabilities
Significant Other Observable Inputs (Level 2) [Member] | Private Placement Warrants [Member]
Liabilities:
Derivative warrant liabilities
Significant Other Unobservable Inputs (Level 3) [Member]
Assets:
Cash and cash equivalents
Liabilities:
Total liabilities	24,412
Significant Other Unobservable Inputs (Level 3) [Member] | Public Warrants [Member]
Liabilities:
Derivative warrant liabilities
Significant Other Unobservable Inputs (Level 3) [Member] | Private Placement Warrants [Member]
Liabilities:
Derivative warrant liabilities	$ 24,412

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of fair value measurements inputs (Detail) - Fair Value, Inputs, Level 3 [Member]	Sep. 30, 2021yr
Exercise Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	11.50
Stock Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	10.40
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	74.8
Term
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	5
Risk-free rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	0.98
Measurement Input, Expected Dividend Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants and rights outstanding, measurement input	0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Sep. 30, 2021$ / shares
Schedule Of Changes In The Fair Value Of Warrant Liabilities [Line Items]
Class of warrants, exercise price per share	$ 1.38
Public Warrants [Member]
Schedule Of Changes In The Fair Value Of Warrant Liabilities [Line Items]
Class of warrants, exercise price per share	$ 3.46

Agreements With UMD And DUKE -

Agreements With UMD And DUKE - Additional information (Detail) - USD ($) $ in Thousands	Feb. 04, 2021	Feb. 01, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Agreement Disclosure [Line Items]
Research and development expense			$ 6,180	$ 2,339	$ 15,311	$ 7,643
Percentage of common stock holding			0.50%		0.50%
Option Agreement [Member]
Agreement Disclosure [Line Items]
Agreement, option to extend					extend another year
Option Agreement [Member] | University Of Maryland [Member]
Agreement Disclosure [Line Items]
Agreement term					5 years
Common stock, capital shares reserved for future issuance			642,995		642,995
Option Agreement [Member] | Duke [Member]
Agreement Disclosure [Line Items]
Research and development expense			$ 100	0	$ 400	0
Amended License Agreement [Member] | University Of Maryland [Member]
Agreement Disclosure [Line Items]
Option agreement indexed to equity, shares available for issuance, fair value		$ 1,600
Amended License Agreement [Member] | University Of Maryland [Member] | Common Stock [Member]
Agreement Disclosure [Line Items]
Stock issued during the period purchase of assets		257,198
Amended Option Agreement [Member] | University Of Maryland [Member]
Agreement Disclosure [Line Items]
Research and development expense			$ 100	$ 0	$ 800	$ 0
Option agreement indexed to equity, shares available for issuance, fair value	$ 800
Amended Option Agreement [Member] | University Of Maryland [Member] | Common Stock [Member]
Agreement Disclosure [Line Items]
Option agreement, remaining number of shares available for issuance	128,599

Income Tax - Additional Informa

Income Tax - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Line Items]
Provision for income taxes	$ 0	$ 0	$ 0	$ 0

Warrant Transaction Agreement -

Warrant Transaction Agreement - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Warrant Transaction Agreement [Abstract]
Class of warrant or right, number of securities called by warrants or rights	8,301,202		8,301,202
Warrant amortization	$ 100	$ 20	$ 200	$ 20
Percent of warrant shares will vest and be immediately exercisable	6.50%		6.50%
Class of warrant or right, exercise price of warrants or rights	$ 1.38		$ 1.38
Fair value of the warrant shares	$ 8,700		$ 8,700
Fair value of warrants vested	600		600
Fair value of the unamortized warrants	$ 300		$ 300

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, par value	$ 0.0001	$ 0.0001
Amended And Restated Certificate Of Incorporation [Member]
Class of Stock [Line Items]
Preferred stock, par or stated value per share	$ 0.0001
Preferred stock, shares authorized	20,000,000
Preferred stock, shares issued	0
Common stock, shares authorized	1,000,000,000
Common stock, par value	$ 0.0001

Warrant Liabilities - Additiona

Warrant Liabilities - Additional Information (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2021	Aug. 18, 2020
Number of warrants or rights outstanding	11,500,000
Warrant issue price	$ 11.50
Public Warrants [Member]
Number of warrants or rights outstanding	7,500,000
Public Warrants will become exercisable	on the later of (a) 30 days after the completion of a Business Combination or (b) 12 months from the closing of the Initial Public Offering
Public warrant for redemption price	at a price of $0.01 per warrant
Public warrants expire date	upon a minimum of 30 days’ prior written notice of redemption
Private Placement Warrants [Member]
Number of warrants or rights outstanding	4,000,000
Threshold period for warrants will not be transferable, assignable or salable after the completion of a business combination	30 days
Common Class A [Member] | Public Warrants [Member] | Redemption Price One [Member]
Redemption price of warrants per unit		$ 0.01
Number of consecutive trading days for which the stock price is to be maintained	20 days
Number of trading days	30 days
Common Class A [Member] | Public Warrants [Member] | Redemption Price Two [Member]
Redemption price of warrants per unit		0.10
Number of consecutive trading days for which the stock price is to be maintained	20 days
Number of trading days	30 days
Common Class A [Member] | Public Warrants [Member] | Minimum [Member] | Redemption Price One [Member]
Share price		18
Common Class A [Member] | Public Warrants [Member] | Minimum [Member] | Redemption Price Two [Member]
Share price		$ 10

Share Based Compensation - Summ

Share Based Compensation - Summary Of Share Based Payment Award Stock Options Valuation Assumptions (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Risk- Free Interest Rate	0.00%	0.36%	0.96%	1.18%
Expected Term (in years)		6 years 4 months 13 days	6 years 3 months 3 days	6 years 2 months 12 days
Expected Volatility	0.00%	73.07%	77.04%	71.11%
Dividend Yield	0.00%	0.00%	0.00%	0.00%

Share Based Compensation - Su_2

Share Based Compensation - Summary of the Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Option Shares, Beginning Balance	21,863,368	13,933,956	13,933,956
Number of Option Shares, Granted	6,492,540	3,620,559
Number of Option Shares, Exercised	(3,308,594)	(235,887)
Number of Option Shares, Cancelled/ Forfeited	(1,212,609)	(219,410)
Number of Option Shares, Ending Balance	23,834,705	17,099,218	21,863,368	13,933,956
Number of Option Shares, Exercisable	7,476,990
Number of Option Shares, Exercisable and expected to vest	23,834,705
Weighted Average Exercise Price, Beginning Balance	$ 0.34	$ 0.13	$ 0.13
Weighted Average Exercise Price, Granted	2.39	0.46
Weighted Average Exercise Price, Exercised	1.64	0.13
Weighted Average Exercise Price, Cancelled/ Forfeited	1.91	0.13
Weighted Average Exercise Price, Ending Balance	0.64	$ 0.20	$ 0.34	$ 0.13
Weighted Average Exercise Price, Exercisable	0.25
Weighted Average Exercise Price, Exercisable and expected to vest	$ 0.64
Weighted-average Remaining Contractual Term, Outstanding	8 years 1 month 24 days	8 years 4 months 9 days	8 years 8 months 1 day	8 years 9 months 18 days
Weighted-average Remaining Contractual Term, Exercisable	7 years 5 months 4 days
Weighted-average Remaining Contractual Term, Exercisable and expected to vest	8 years 1 month 24 days
Aggregate Intrinsic Value, Outstanding	$ 227,890	$ 7,850	$ 44,800	$ 5,000
Aggregate Intrinsic Value, Exercisable	74,370
Aggregate Intrinsic Value, Exercisable and expected to vest	$ 227,890

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended		12 Months Ended
	Aug. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Weighted-average remaining contractual term outstanding		8 years 1 month 24 days	8 years 4 months 9 days	8 years 8 months 1 day	8 years 9 months 18 days
Intrinsic value of options exercised		$ 28,300	$ 100
Weighted-average grant date fair value per share for the stock options granted		$ 5.83	$ 0.35
Aggregate grant-date fair value of options vested		$ 5,040	$ 510
Unrecognised share based compensation expense, stock options awards		$ 33,790
Unrecognised share based compensation expense, stock options awards, period		2 years 1 month 9 days
2015 Equity Incentive Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Weighted-average remaining contractual term outstanding		10 years
Share based compensation arrangement by share based payment award cumulative annual increase percentage		5.00%
2021 Equity Incentive Plan [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of Shares Available for Grant		0
Number of shares per employees under share based compensation	26,235,000

Share Based Compensation - Su_3

Share Based Compensation - Summary of Stock-based Compensation Expenses for Stock Options and Unvested Restricted Shares (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 2,121	$ 251	$ 6,128	$ 782
Cost of Sales [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	15	0	46	0
Research and Development Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	1,181	76	2,351	349
Selling and Marketing Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	22	0	47	0
General and Administrative Expense [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	837	105	3,485	332
Stock-based Compensation, Net Of Amounts Capitalized [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	2,055	181	5,929	681
Capitalized Stock-based Compensation – Intangibles And Fixed Assets [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 66	$ 70	$ 199	$ 101

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Research and development expense	$ 6,180	$ 2,339	$ 15,311	$ 7,643
Sales and marketing	1,286	81	2,384	263
General and administrative	2,461	727	8,321	1,840
Assets
Accounts receivable	4,000		4,000		$ 0
Prepaid expenses and other current assets	520		520		1,013
Operating lease right-of-use asset	4,098		4,098		4,296
Other noncurrent assets	1,975		1,975		2,365
Liabilities
Accounts payable	15		15		5
Current operating lease liabilities	564		564		495
Unearned revenue	3,836		3,836		0
Non-current operating lease liabilities	3,681		3,681		3,776
UMD and Duke [Member]
Related Party Transaction [Line Items]
Revenue	164		164
Cost of revenue	34		34
Research and development expense	313	7	1,649	117
Sales and marketing	8		8
General and administrative	59	$ 55	189	$ 71
Assets
Accounts receivable	4,000		4,000
Prepaid expenses and other current assets	520		520		1,013
Operating lease right-of-use asset	4,098		4,098		4,296
Other noncurrent assets	1,975		1,975		2,365
Liabilities
Accounts payable	15		15		5
Current operating lease liabilities	564		564		495
Unearned revenue	3,836		3,836
Non-current operating lease liabilities	$ 3,681		$ 3,681		$ 3,776

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
UMD [Member]
Related Party Transaction [Line Items]
Related party transaction, amounts of transaction	$ 14