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  "documentTitle": "IonQ Inc. (IONQ)",
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  "authorName": "Scorpion Capital",
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  "presentationDate": "2022-05-03 00:00:00",
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  "notes": "The slide uses a Q&A transcript format to expose the lack of revenue generation from IonQ's partners.",
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      "text": "He initially evaded our question and then stated “it’s a free partnership,” adding that none of the four “customers” they have introduced to IonQ are paying either.",
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      "text": "The exec laughed again when asked if they have to pay for access to IonQ’s technology\nQ: “How much does it cost to use the machine? How many hours are you running it every month or every year?”\nA: “That’s a good question. Cost in terms of money [laughs out loud]. I couldn’t provide you these details. I’d have to look at that. I don’t know them by heart. I know we have an agreement with them.”\nQ: “Are you a paying customer, or do they let you use it for free?”\nA: “No, they let us use the technology because we are also testing the platforms.”\nQ: “Like $5000 or $10,000 a year or something?”\nA: “Yeah, something like that, not a million.”\nQ: “Is this a paid partnership or just a free partnership?”\nA: “No, it’s a free partnership.” – Executive of a key IonQ partner",
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      "text": "The partner indicated that none of the four customers it’s introduced to IonQ are paying for access\nQ: “How many customers are using it through you?”\nA: “At least four. One right now, and with our three contracts, at least they are going to be using IonQ.”\nQ: “How much are these customers willing to pay IonQ, or they’re not paying anything?”\nA: “They are getting the access through us, but once we finish the project; if they want to continue using IonQ, they have to pay for it, either directly or through AWS.”\nQ: “And are any of these customers currently paying IonQ, or they’re not?”\nA: “No, I don’t think so, not yet.”\nQ: “So, they’re all basically getting it for free?”\nA: “Right now, yes.” – Executive of a key IonQ partner",
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      "text": "IonQ partner laughed when we asked if they or other customers are willing to pay for IonQ’s technology\nQ: “If I’m reading between the lines, it seems like you’re being diplomatic, but you’re not willing to pay for it.”\nA: “[Laughing] Quantum technology is still at a very early stage. The quantum computers still do not have the same level of maturity as classical computers. It’s not that they are useless…” - Executive of a key IonQ partner",
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      "text": "“Quantum technology is still at a very early stage. The quantum computers still do not have the same level of maturity as classical computers. It’s not that they are useless...” — Executive of a key IonQ partner; “No, it’s a free partnership.” — Executive of a key IonQ partner; “Right now, yes.” — Executive of a key IonQ partner",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "Multiverse Computing, another of the key partners that IonQ has promoted, laughed when we asked if they pay for access to IonQ’s technology, saying it’s “still at a very early stage” – “it’s not that they are useless.” He initially evaded our question and then stated “it’s a free partnership,” adding that none of the four “customers” they have introduced to IonQ are paying either. He further implied they barely use it.",
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