Shares of IonQ crashed 31.6% in July before rebounding in August, according to data from S&P Global Market Intelligence. The quantum computing upstart reported strong revenue growth but heavy losses in its Q2 earnings, with revenue reaching $80 million and an operating loss of $337 million. IonQ has a market cap of $17 billion against guidance for $285 million in revenue this year, a forward price-to-sales ratio of 61. The company has $3 billion in cash and equivalents but is burning $570 million in free cash flow, while outstanding shares have nearly doubled over the last three years.
