IonQ Inc. (IONQ)

Wolfpack Research · 2026-02
arc beats above · slides in the middle · loops below · scroll → 0 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 2
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Deck intelligence map

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coverage by narrative range · generated from this deck JSON

Slide inventory

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every slide · same image gating as the playbook
01
Slide 1
The slide serves as an executive summary for a short report by Wolfpack Research.expose_contradiction
Open slide detailBeat · The Monster
02
The diagram illustrates a circular flow of funds ($15M from IonQ to EPB, $7.5M in federal earmarks to EPB, $22M deal value from EPB to IonQ).expose_contradiction
Open slide detailBeat · The Monster
03
The slide uses a series of bullet points to build a case of corporate malfeasance, citing specific financial figures and contract details to support the argumenexpose_contradiction
Open slide detailBeat · The Monster
04
The slide uses a narrative style to undermine the credibility of IONQ's management and technology.name_villain
Open slide detailBeat · The Monster
05
The slide uses a 'fraud-exposure' narrative to challenge the company's public narrative of commercial success.expose_contradiction
Open slide detailBeat · The Monster
06
Includes a screenshot of an FPDS (Federal Procurement Data System) record as evidence of the discrepancy.expose_contradiction
Open slide detailBeat · The Struggle
07
The slide uses two data tables to contrast 'Action Obligation' vs 'Total Contract Value' to argue that management is misleading investors about actual revenue cexpose_contradiction
Open slide detailBeat · The Struggle
08
This is a text-heavy research note page detailing allegations of financial misrepresentation and political earmarking.expose_contradiction
Open slide detailBeat · The Struggle
09
Image file not available on disk; could not inspect.
Open slide detailBeat · The Struggle
10
The slide uses a critical, investigative tone to challenge management's narrative regarding M&A strategy.analyze_data
Open slide detailBeat · The Struggle
11
The slide discusses the acquisition of SKYT and IDQ by IONQ, highlighting concerns about capital allocation and the viability of the acquired businesses.analyze_data
Open slide detailBeat · The Struggle
12
Image file not available on disk; could not inspect.
Open slide detailBeat · The Struggle
13
This is a research note page focused on exposing a potential accounting/disclosure discrepancy regarding IonQ's revenue recognition.expose_contradiction
Open slide detailBeat · The Struggle
14
The slide uses federal procurement data to suggest Oxford Ionics had advanced to the second round of a DARPA competition by July 2025, contradicting the narratiexpose_contradiction
Open slide detailBeat · The Struggle
15
The slide uses a government contract data table to undermine the company's narrative of commercial leadership.expose_contradiction
Open slide detailBeat · The Victory
16
Image file not available on disk; could not inspect.
Open slide detailBeat · The Victory
17
The slide uses a testimonial as evidence of the lobbying relationship. It highlights specific financial figures ($3 million in fees, $2,900 campaign contributioname_villain
Open slide detailBeat · The Victory
18
The slide uses a screenshot of a tweet by Niccolo de Masi featuring Joe Biden to establish a narrative of political connection, followed by text alleging 'backdexpose_contradiction
Open slide detailBeat · The Victory
19
The table highlights the discrepancy between Congressional earmark language and the resulting procurement contracts, suggesting a 'backdoor' funding mechanism.expose_contradiction
Open slide detailBeat · The Victory
20
The tables highlight specific quantum-related program increases. The narrative links these to political risk.expose_contradiction
Open slide detailBeat · The Victory
21
The slide presents evidence of budget cuts to specific programs to suggest insider trading or lack of transparency.expose_contradiction
Open slide detailBeat · The New Order
22
The slide includes a table of budget line items and a bubble chart mapping military impact vs. maturity.analyze_data
Open slide detailBeat · The New Order
23
The text critiques IONQ's reliance on government contracts and questions the legitimacy of its revenue growth claims.expose_contradiction
Open slide detailBeat · The New Order
24
Includes a snippet of a government budget table highlighting specific earmarks for 'Trusted & Assured Microelectronics'.expose_contradiction
Open slide detailBeat · The New Order
25
The slide functions as a detailed investigative footnote section, challenging the company's commercialization narrative.expose_contradiction
Open slide detailBeat · The New Order
26
The slide contains a transcript excerpt followed by detailed footnotes and a data table summarizing insider sales.expose_contradiction
Open slide detailBeat · The New Order
27
Includes footnotes 10-17 providing context on insider trading definitions, Q1 earnings, and revenue breakdown analysis.analyze_data
Open slide detailBeat · The New Order
28
This page consists entirely of numbered footnotes (18-31) providing evidentiary support for a larger research document.appendix
Open slide detailBeat · The New Order
29
This page is entirely composed of footnotes (32-45) for a research report.appendix
Open slide detailBeat · The New Order
30
Contains numbered references 46 through 58, including URLs and explanatory text regarding government earmarks and funding.appendix
Open slide detailBeat · The New Order
31
Page 31 of 33other
Open slide detailBeat · The New Order
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Page 32 of 33other
Open slide detailBeat · The New Order
33
This is a standard legal disclaimer page for an investment research report, specifically addressing short-selling practices and source compensation.other
Open slide detailBeat · The New Order