AG˹ٷ

STOCK TITAN

[8-K] IonQ, Inc. Reports Material Event

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(Neutral)
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Form Type
8-K
Rhea-AI Filing Summary

PBPB Q2 FY25 highlights (13 weeks ended 6/29/25): Revenue rose 3.4% YoY to $123.7 m, driven by 3.2% same-store growth and a 27.6% jump in franchise royalties. Company-operated shop-level margin expanded 100 bps to 16.7% as food/packaging costs fell to 26.3% of sales, offsetting modest labor inflation. Adjusted EBITDA advanced 13.0% to $9.6 m and operating income was $3.7 m (-10% YoY). Net income of $2.5 m ( $0.08 diluted) compares with $34.7 m last year, which benefited from a $31 m tax-valuation allowance release.

Balance sheet & growth: Cash climbed to $16.2 m (from $11.7 m FY24-end) and the $30 m revolver was undrawn, leaving zero long-term debt. Potbelly operated 447 shops (340 company / 107 franchise), adding 12 gross units and refranchising 4 company shops YTD. Franchise pipeline boosted recurring royalty mix; related contract liabilities stand at $16.3 m.

Costs & capital: G&A rose 13% on incentives, consulting and IT spend; depreciation up 30% reflecting remodel program. YTD the firm repurchased 230k shares for $2.1 m and accrued $1.8 m to settle a Washington pay-equity class action.

Outlook implications: Traffic-driven strategy is delivering top-line and margin gains while leverage is eliminated, but earnings remain thin and expense discipline will be key to sustaining improvement.

Punti salienti PBPB Q2 FY25 (13 settimane terminate il 29/06/25): I ricavi sono aumentati del 3,4% su base annua, raggiungendo 123,7 milioni di dollari, trainati da una crescita del 3,2% delle vendite comparabili e da un balzo del 27,6% delle royalty da franchising. Il margine a livello di negozi gestiti direttamente dall'azienda è cresciuto di 100 punti base al 16,7%, grazie a una riduzione dei costi di cibo e packaging al 26,3% delle vendite, che ha compensato una modesta inflazione salariale. L'EBITDA rettificato è salito del 13,0% a 9,6 milioni di dollari, mentre il reddito operativo è stato di 3,7 milioni (-10% su base annua). L'utile netto di 2,5 milioni di dollari (0,08 dollari per azione diluita) si confronta con i 34,7 milioni dell'anno precedente, che avevano beneficiato di una liberazione di riserva fiscale di 31 milioni.

Bilancio e crescita: La liquidità è salita a 16,2 milioni di dollari (da 11,7 milioni a fine FY24) e la linea di credito da 30 milioni non è stata utilizzata, mantenendo zero debito a lungo termine. Potbelly gestiva 447 negozi (340 diretti / 107 in franchising), aggiungendo 12 unità lorde e rifranchising 4 negozi diretti da inizio anno. Il portafoglio franchising ha aumentato la quota ricorrente delle royalty; le passività contrattuali correlate ammontano a 16,3 milioni.

Costi e capitale: Le spese generali e amministrative sono aumentate del 13% per incentivi, consulenze e investimenti IT; l'ammortamento è cresciuto del 30% a seguito del programma di ristrutturazione. Da inizio anno la società ha riacquistato 230.000 azioni per 2,1 milioni di dollari e ha accantonato 1,8 milioni per risolvere una class action sul pay equity nello stato di Washington.

Prospettive: La strategia basata sull'aumento del traffico sta portando a una crescita dei ricavi e dei margini, eliminando la leva finanziaria, tuttavia gli utili restano contenuti e la disciplina nei costi sarà fondamentale per sostenere il miglioramento.

Aspectos destacados de PBPB Q2 FY25 (13 semanas finalizadas el 29/06/25): Los ingresos aumentaron un 3,4% interanual hasta $123,7 millones, impulsados por un crecimiento del 3,2% en tiendas comparables y un salto del 27,6% en regalías de franquicias. El margen a nivel de tiendas operadas por la compañía se expandió 100 puntos básicos hasta el 16,7%, debido a la reducción de los costos de alimentos y embalajes al 26,3% de las ventas, compensando una modesta inflación laboral. El EBITDA ajustado avanzó un 13,0% hasta $9,6 millones y el ingreso operativo fue de $3,7 millones (-10% interanual). La utilidad neta de $2,5 millones ($0,08 diluido) se compara con $34,7 millones del año pasado, que se beneficiaron de una liberación de provisión fiscal de $31 millones.

Balance y crecimiento: El efectivo aumentó a $16,2 millones (desde $11,7 millones al cierre del FY24) y la línea revolvente de $30 millones no se utilizó, dejando deuda a largo plazo cero. Potbelly operaba 447 tiendas (340 propias / 107 franquiciadas), sumando 12 unidades brutas y refranquiciando 4 tiendas propias en lo que va del año. La cartera de franquicias incrementó la proporción recurrente de regalías; las obligaciones contractuales relacionadas ascienden a $16,3 millones.

Costos y capital: G&A aumentó un 13% por incentivos, consultoría y gastos de TI; la depreciación subió un 30% reflejando el programa de remodelación. En lo que va del año, la empresa recompró 230,000 acciones por $2,1 millones y acumuló $1,8 millones para resolver una demanda colectiva sobre equidad salarial en Washington.

Implicaciones para el futuro: La estrategia orientada al tráfico está generando ganancias en ingresos y márgenes mientras se elimina el apalancamiento, pero las ganancias siguen siendo bajas y la disciplina en gastos será clave para mantener la mejora.

PBPB 25회계연도 2분기 주요 내용 (2025� 6� 29� 종료 13�): 매출은 전년 대� 3.4% 증가� 1� 2,370� 달러�, 동일 점포 매출 3.2% 성장� 가맹점 로열� 27.6% 급증� 힘입�. 회사 운영 점포 수준 이익률은 100bps 상승� 16.7%�, 식품 � 포장 비용� 매출� 26.3%� 감소� 노동비용 상승� 상쇄�. 조정 EBITDA� 13.0% 증가� 960� 달러, 영업이익은 370� 달러(-10% YoY). 순이익은 250� 달러(희석 주당 0.08달러)�, 전년 3,470� 달러 대� 감소했는�, 전년에는 3,100� 달러� 세금 평가충당� 환입� 있었�.

재무 상태 � 성장: 현금은 1,620� 달러� 증가(전년� 1,170� 달러 대�), 3,000� 달러� 신용 한도� 미사� 상태� 장기 부채는 전무. Potbelly� � 447� 점포(직영 340�/가� 107�)� 운영하며, 올해 들어 � 12� 점포� 추가하고 4� 직영점을 가맹점으로 전환�. 가맹점 파이프라인이 반복적인 로열� 비중� 높였으며, 관� 계약 부채는 1,630� 달러�.

비용 � 자본: 일반관리비� 인센티브, 컨설�, IT 지출로 13% 증가; 감가상각비는 리모델링 프로그램 영향으로 30% 상승. 연초부� 23� 주를 210� 달러� 자사� 매입했고, 워싱� 급여 형평� 집단 소송 해결� 위해 180� 달러� 충당�.

전망 시사�: 고객 방문 증가 전략� 매출� 마진 상승� 견인하며 레버리지� 제거했으�, 수익성은 여전� 낮아 비용 관리가 개선 지속의 핵심� � 전망�.

Points clés PBPB T2 FY25 (13 semaines terminées le 29/06/25) : Le chiffre d'affaires a augmenté de 3,4 % en glissement annuel pour atteindre 123,7 M$, soutenu par une croissance comparable des magasins de 3,2 % et une hausse de 27,6 % des redevances de franchise. La marge au niveau des magasins exploités par la société s’est accrue de 100 points de base pour atteindre 16,7 %, grâce à une baisse des coûts alimentaires et d’emballage à 26,3 % des ventes, compensant une légère inflation salariale. L’EBITDA ajusté a progressé de 13,0 % à 9,6 M$, tandis que le résultat opérationnel s’élève à 3,7 M$ (-10 % en glissement annuel). Le bénéfice net de 2,5 M$ (0,08 $ dilué) se compare à 34,7 M$ l’an dernier, qui avait bénéficié d’une reprise de provision fiscale de 31 M$.

Bilan et croissance : La trésorerie a augmenté à 16,2 M$ (contre 11,7 M$ fin FY24) et la ligne de crédit renouvelable de 30 M$ n’a pas été utilisée, laissant une absence totale de dette à long terme. Potbelly exploitait 447 magasins (340 en propre / 107 en franchise), ajoutant 12 unités brutes et refranchisant 4 magasins en propre depuis le début de l’exercice. Le pipeline de franchises a renforcé la part récurrente des redevances ; les passifs contractuels associés s’élèvent à 16,3 M$.

Coûts et capitaux : Les frais généraux et administratifs ont augmenté de 13 % en raison d’incitations, de conseils et de dépenses informatiques ; les amortissements ont progressé de 30 % reflétant le programme de rénovation. Depuis le début de l’exercice, la société a racheté 230 000 actions pour 2,1 M$ et a provisionné 1,8 M$ pour régler un recours collectif sur l’équité salariale dans l’État de Washington.

Perspectives : La stratégie axée sur le trafic génère des gains de chiffre d’affaires et de marge tout en éliminant l’effet de levier, mais les bénéfices restent faibles et la discipline des dépenses sera essentielle pour maintenir cette amélioration.

PBPB Q2 FY25 Highlights (13 Wochen bis 29.06.25): Der Umsatz stieg im Jahresvergleich um 3,4 % auf 123,7 Mio. USD, getragen von einem vergleichbaren Filialwachstum von 3,2 % und einem Anstieg der Franchise-Royaltys um 27,6 %. Die Shop-Level-Marge bei unternehmenseigenen Filialen erhöhte sich um 100 Basispunkte auf 16,7 %, da die Kosten für Lebensmittel und Verpackungen auf 26,3 % des Umsatzes sanken und so eine moderate Lohninflation ausglichen. Das bereinigte EBITDA stieg um 13,0 % auf 9,6 Mio. USD, das Betriebsergebnis lag bei 3,7 Mio. USD (-10 % YoY). Der Nettogewinn von 2,5 Mio. USD (0,08 USD verwässert) steht im Vergleich zu 34,7 Mio. USD im Vorjahr, das von einer Rückstellungslöschung in Höhe von 31 Mio. USD profitierte.

Bilanz & Wachstum: Der Kassenbestand stieg auf 16,2 Mio. USD (von 11,7 Mio. USD Ende FY24) und die revolvierende Kreditlinie von 30 Mio. USD wurde nicht in Anspruch genommen, wodurch keine langfristigen Schulden bestehen. Potbelly betrieb 447 Filialen (340 unternehmenseigen / 107 Franchise), fügte 12 Bruttoeinheiten hinzu und refranchisierte bisher 4 unternehmenseigene Filialen im laufenden Jahr. Die Franchise-Pipeline erhöhte den Anteil wiederkehrender Royaltys; die entsprechenden Vertragsverbindlichkeiten belaufen sich auf 16,3 Mio. USD.

Kosten & Kapital: Die allgemeinen und administrativen Kosten stiegen um 13 % aufgrund von Anreizen, Beratungs- und IT-Ausgaben; die Abschreibungen erhöhten sich um 30 % im Zuge des Renovierungsprogramms. Im bisherigen Jahresverlauf kaufte das Unternehmen 230.000 Aktien für 2,1 Mio. USD zurück und bildete Rückstellungen in Höhe von 1,8 Mio. USD zur Beilegung einer Sammelklage zur Lohngerechtigkeit in Washington.

Ausblick: Die auf Traffic ausgerichtete Strategie führt zu Umsatz- und Margensteigerungen bei gleichzeitiger Eliminierung der Verschuldung, jedoch bleiben die Gewinne gering, und Kostendisziplin wird entscheidend sein, um die Verbesserung aufrechtzuerhalten.

Positive
  • Debt-free balance sheet at 6/29/25 with undrawn $30 m revolver, lowering financial risk.
  • Shop-level profit margin widened 100 bps YoY to 16.7% on lower commodity costs.
  • Adjusted EBITDA increased 13% YoY to $9.6 m, demonstrating operating leverage.
  • Franchise segment momentum: royalties/fees up 28% and franchise units grew to 107.
  • Cash position improved 39% since year-end to $16.2 m, supporting remodel and buybacks.
Negative
  • Operating income fell 10% YoY as G&A and depreciation outpaced revenue growth.
  • General & administrative costs jumped 13% due to incentive comp and consulting.
  • Litigation exposure: $1.8 m accrual for Washington pay-equity class action.
  • Net margin remains thin at 2.4% despite revenue growth, highlighting limited earnings buffer.

Insights

TL;DR: Low-debt, margin-expansion story but earnings leverage still limited by rising overhead.

Revenue growth was modest yet quality improved: comps +3.2%, franchise fees +28%. Food inflation relief pushed shop margins >16%, their highest in recent years. Importantly, Potbelly exited the quarter debt-free, reducing interest drag and risk. Cash of $16 m offers liquidity for remodels and buybacks. However, G&A acceleration (+$1.5 m) and heavier depreciation consumed much of the gross-profit gain, leaving operating income down 10%. Litigation reserve and continued share repurchases will pressure cash if EBITDA momentum stalls. Overall impact viewed as moderately positive; sustainable EPS growth will require tighter cost control or higher traffic.

TL;DR: Franchise mix shift improving royalty stream; unit economics healthy, brand scaling steadily.

The refranchising/expansion model is working: 11 net new franchise stores and royalties now 4.3% of revenue. System-wide sales up 6.7% show brand relevance. Company shops produced $27k average weekly sales and generated incremental 100 bps margin despite labor pressure—evidence pricing and mix are holding. Zero leverage plus an undrawn $30 m revolver affords flexibility to accelerate franchising or selective corporate builds. Risks: wage creep, marketing spend needed to protect traffic, and ongoing lease liabilities. Still, the unit-level gains and asset-light trajectory merit a positive sector view.

Punti salienti PBPB Q2 FY25 (13 settimane terminate il 29/06/25): I ricavi sono aumentati del 3,4% su base annua, raggiungendo 123,7 milioni di dollari, trainati da una crescita del 3,2% delle vendite comparabili e da un balzo del 27,6% delle royalty da franchising. Il margine a livello di negozi gestiti direttamente dall'azienda è cresciuto di 100 punti base al 16,7%, grazie a una riduzione dei costi di cibo e packaging al 26,3% delle vendite, che ha compensato una modesta inflazione salariale. L'EBITDA rettificato è salito del 13,0% a 9,6 milioni di dollari, mentre il reddito operativo è stato di 3,7 milioni (-10% su base annua). L'utile netto di 2,5 milioni di dollari (0,08 dollari per azione diluita) si confronta con i 34,7 milioni dell'anno precedente, che avevano beneficiato di una liberazione di riserva fiscale di 31 milioni.

Bilancio e crescita: La liquidità è salita a 16,2 milioni di dollari (da 11,7 milioni a fine FY24) e la linea di credito da 30 milioni non è stata utilizzata, mantenendo zero debito a lungo termine. Potbelly gestiva 447 negozi (340 diretti / 107 in franchising), aggiungendo 12 unità lorde e rifranchising 4 negozi diretti da inizio anno. Il portafoglio franchising ha aumentato la quota ricorrente delle royalty; le passività contrattuali correlate ammontano a 16,3 milioni.

Costi e capitale: Le spese generali e amministrative sono aumentate del 13% per incentivi, consulenze e investimenti IT; l'ammortamento è cresciuto del 30% a seguito del programma di ristrutturazione. Da inizio anno la società ha riacquistato 230.000 azioni per 2,1 milioni di dollari e ha accantonato 1,8 milioni per risolvere una class action sul pay equity nello stato di Washington.

Prospettive: La strategia basata sull'aumento del traffico sta portando a una crescita dei ricavi e dei margini, eliminando la leva finanziaria, tuttavia gli utili restano contenuti e la disciplina nei costi sarà fondamentale per sostenere il miglioramento.

Aspectos destacados de PBPB Q2 FY25 (13 semanas finalizadas el 29/06/25): Los ingresos aumentaron un 3,4% interanual hasta $123,7 millones, impulsados por un crecimiento del 3,2% en tiendas comparables y un salto del 27,6% en regalías de franquicias. El margen a nivel de tiendas operadas por la compañía se expandió 100 puntos básicos hasta el 16,7%, debido a la reducción de los costos de alimentos y embalajes al 26,3% de las ventas, compensando una modesta inflación laboral. El EBITDA ajustado avanzó un 13,0% hasta $9,6 millones y el ingreso operativo fue de $3,7 millones (-10% interanual). La utilidad neta de $2,5 millones ($0,08 diluido) se compara con $34,7 millones del año pasado, que se beneficiaron de una liberación de provisión fiscal de $31 millones.

Balance y crecimiento: El efectivo aumentó a $16,2 millones (desde $11,7 millones al cierre del FY24) y la línea revolvente de $30 millones no se utilizó, dejando deuda a largo plazo cero. Potbelly operaba 447 tiendas (340 propias / 107 franquiciadas), sumando 12 unidades brutas y refranquiciando 4 tiendas propias en lo que va del año. La cartera de franquicias incrementó la proporción recurrente de regalías; las obligaciones contractuales relacionadas ascienden a $16,3 millones.

Costos y capital: G&A aumentó un 13% por incentivos, consultoría y gastos de TI; la depreciación subió un 30% reflejando el programa de remodelación. En lo que va del año, la empresa recompró 230,000 acciones por $2,1 millones y acumuló $1,8 millones para resolver una demanda colectiva sobre equidad salarial en Washington.

Implicaciones para el futuro: La estrategia orientada al tráfico está generando ganancias en ingresos y márgenes mientras se elimina el apalancamiento, pero las ganancias siguen siendo bajas y la disciplina en gastos será clave para mantener la mejora.

PBPB 25회계연도 2분기 주요 내용 (2025� 6� 29� 종료 13�): 매출은 전년 대� 3.4% 증가� 1� 2,370� 달러�, 동일 점포 매출 3.2% 성장� 가맹점 로열� 27.6% 급증� 힘입�. 회사 운영 점포 수준 이익률은 100bps 상승� 16.7%�, 식품 � 포장 비용� 매출� 26.3%� 감소� 노동비용 상승� 상쇄�. 조정 EBITDA� 13.0% 증가� 960� 달러, 영업이익은 370� 달러(-10% YoY). 순이익은 250� 달러(희석 주당 0.08달러)�, 전년 3,470� 달러 대� 감소했는�, 전년에는 3,100� 달러� 세금 평가충당� 환입� 있었�.

재무 상태 � 성장: 현금은 1,620� 달러� 증가(전년� 1,170� 달러 대�), 3,000� 달러� 신용 한도� 미사� 상태� 장기 부채는 전무. Potbelly� � 447� 점포(직영 340�/가� 107�)� 운영하며, 올해 들어 � 12� 점포� 추가하고 4� 직영점을 가맹점으로 전환�. 가맹점 파이프라인이 반복적인 로열� 비중� 높였으며, 관� 계약 부채는 1,630� 달러�.

비용 � 자본: 일반관리비� 인센티브, 컨설�, IT 지출로 13% 증가; 감가상각비는 리모델링 프로그램 영향으로 30% 상승. 연초부� 23� 주를 210� 달러� 자사� 매입했고, 워싱� 급여 형평� 집단 소송 해결� 위해 180� 달러� 충당�.

전망 시사�: 고객 방문 증가 전략� 매출� 마진 상승� 견인하며 레버리지� 제거했으�, 수익성은 여전� 낮아 비용 관리가 개선 지속의 핵심� � 전망�.

Points clés PBPB T2 FY25 (13 semaines terminées le 29/06/25) : Le chiffre d'affaires a augmenté de 3,4 % en glissement annuel pour atteindre 123,7 M$, soutenu par une croissance comparable des magasins de 3,2 % et une hausse de 27,6 % des redevances de franchise. La marge au niveau des magasins exploités par la société s’est accrue de 100 points de base pour atteindre 16,7 %, grâce à une baisse des coûts alimentaires et d’emballage à 26,3 % des ventes, compensant une légère inflation salariale. L’EBITDA ajusté a progressé de 13,0 % à 9,6 M$, tandis que le résultat opérationnel s’élève à 3,7 M$ (-10 % en glissement annuel). Le bénéfice net de 2,5 M$ (0,08 $ dilué) se compare à 34,7 M$ l’an dernier, qui avait bénéficié d’une reprise de provision fiscale de 31 M$.

Bilan et croissance : La trésorerie a augmenté à 16,2 M$ (contre 11,7 M$ fin FY24) et la ligne de crédit renouvelable de 30 M$ n’a pas été utilisée, laissant une absence totale de dette à long terme. Potbelly exploitait 447 magasins (340 en propre / 107 en franchise), ajoutant 12 unités brutes et refranchisant 4 magasins en propre depuis le début de l’exercice. Le pipeline de franchises a renforcé la part récurrente des redevances ; les passifs contractuels associés s’élèvent à 16,3 M$.

Coûts et capitaux : Les frais généraux et administratifs ont augmenté de 13 % en raison d’incitations, de conseils et de dépenses informatiques ; les amortissements ont progressé de 30 % reflétant le programme de rénovation. Depuis le début de l’exercice, la société a racheté 230 000 actions pour 2,1 M$ et a provisionné 1,8 M$ pour régler un recours collectif sur l’équité salariale dans l’État de Washington.

Perspectives : La stratégie axée sur le trafic génère des gains de chiffre d’affaires et de marge tout en éliminant l’effet de levier, mais les bénéfices restent faibles et la discipline des dépenses sera essentielle pour maintenir cette amélioration.

PBPB Q2 FY25 Highlights (13 Wochen bis 29.06.25): Der Umsatz stieg im Jahresvergleich um 3,4 % auf 123,7 Mio. USD, getragen von einem vergleichbaren Filialwachstum von 3,2 % und einem Anstieg der Franchise-Royaltys um 27,6 %. Die Shop-Level-Marge bei unternehmenseigenen Filialen erhöhte sich um 100 Basispunkte auf 16,7 %, da die Kosten für Lebensmittel und Verpackungen auf 26,3 % des Umsatzes sanken und so eine moderate Lohninflation ausglichen. Das bereinigte EBITDA stieg um 13,0 % auf 9,6 Mio. USD, das Betriebsergebnis lag bei 3,7 Mio. USD (-10 % YoY). Der Nettogewinn von 2,5 Mio. USD (0,08 USD verwässert) steht im Vergleich zu 34,7 Mio. USD im Vorjahr, das von einer Rückstellungslöschung in Höhe von 31 Mio. USD profitierte.

Bilanz & Wachstum: Der Kassenbestand stieg auf 16,2 Mio. USD (von 11,7 Mio. USD Ende FY24) und die revolvierende Kreditlinie von 30 Mio. USD wurde nicht in Anspruch genommen, wodurch keine langfristigen Schulden bestehen. Potbelly betrieb 447 Filialen (340 unternehmenseigen / 107 Franchise), fügte 12 Bruttoeinheiten hinzu und refranchisierte bisher 4 unternehmenseigene Filialen im laufenden Jahr. Die Franchise-Pipeline erhöhte den Anteil wiederkehrender Royaltys; die entsprechenden Vertragsverbindlichkeiten belaufen sich auf 16,3 Mio. USD.

Kosten & Kapital: Die allgemeinen und administrativen Kosten stiegen um 13 % aufgrund von Anreizen, Beratungs- und IT-Ausgaben; die Abschreibungen erhöhten sich um 30 % im Zuge des Renovierungsprogramms. Im bisherigen Jahresverlauf kaufte das Unternehmen 230.000 Aktien für 2,1 Mio. USD zurück und bildete Rückstellungen in Höhe von 1,8 Mio. USD zur Beilegung einer Sammelklage zur Lohngerechtigkeit in Washington.

Ausblick: Die auf Traffic ausgerichtete Strategie führt zu Umsatz- und Margensteigerungen bei gleichzeitiger Eliminierung der Verschuldung, jedoch bleiben die Gewinne gering, und Kostendisziplin wird entscheidend sein, um die Verbesserung aufrechtzuerhalten.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 1, 2025

 

 

IonQ, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Delaware   001-39694   85-2992192
(State or Other Jurisdiction
of Incorporation)
 

(Commission

File Number)

  (IRS Employer
Identification No.)

 

4505 Campus Drive  
College Park, Maryland   20740
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number, Including Area Code: 301 298-7997

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 


Title of each class

 

Trading
Symbol(s)

 

Name of each exchange
on which registered

Common stock, par value $0.0001 per share   IONQ   New York Stock Exchange
Warrants, each exercisable for one share of common stock for $11.50 per share   IONQ WS   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 


Item 5.02 Departures of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Chairman of the Board; Transition of Former Executive Chairman to Director

On August 1, 2025, the board of directors (the “Board”) of IonQ, Inc. (the “Company”) appointed Niccolo de Masi, the Company’s Chief Executive Officer, to the additional position of Chairman of the Board, succeeding Peter Chapman, who held the role of Executive Chairman, effective as of August 1, 2025 (the “Transition Date”). Mr. Chapman has also stepped down as a member of the Board.

As a result of Mr. Chapman’s departure from the Company, he will qualify for certain benefits under the Company’s Amended and Restated Executive Severance Plan (the “Executive Severance Plan”), the retention bonus agreement that Mr. Chapman entered into with the Company on December 16, 2024 (the “Retention Bonus Agreement”) and his performance-based restricted stock unit (“PSU”) award agreement (the “PSU Award Agreement”). Mr. Chapman has executed a separation agreement including a release of claims in favor of the Company and, as such, he will receive the following payments and benefits:

 

   

Cash Severance: The Company will continue to pay Mr. Chapman’s annual base salary plus target bonus (100% of base salary) for one year following the Transition Date, as well as a pro-rated target bonus for 2025.

 

   

COBRA Benefits: If Mr. Chapman elects to receive continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, the Company will pay the applicable premiums for Mr. Chapman for up to one year following the Transition Date.

 

   

Retention Bonus: The Company will pay the unpaid portion of Mr. Chapman’s retention bonus under the Retention Bonus Agreement.

 

   

Equity Vesting: Mr. Chapman’s unvested restricted stock units and stock options will accelerate and become vested in full, and Mr. Chapman’s PSUs will vest, based on target performance, prorated for the number of months Mr. Chapman was employed by the Company during the applicable performance period.

There are no family relationships between Mr. de Masi and the Company’s directors and executive officers, no arrangements or understandings between Mr. de Masi and any other person requiring disclosure under Item 401(b) of Regulation S-K, and no transactions with related persons requiring disclosure under Item 404(a) of Regulation S-K.

The foregoing summary of Mr. Chapman’s severance entitlements is not a complete discussion of those terms. Accordingly, the foregoing is qualified in its entirety by reference to the full text of the Executive Severance Plan, Retention Bonus Agreement and PSU Award Agreement, copies of which are filed as Exhibits 10.2, 10.33 and 10.9 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, which is incorporated herein by reference.

 


Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit
No.
  

Description

104    Cover Page Interactive Data File (embedded within the Inline XBRL document)

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

      IonQ, Inc.
Date: August 6, 2025     By:  

/s/ Paul T. Dacier

     

Paul T. Dacier

Chief Legal Officer and Corporate Secretary

FAQ

How did Potbelly (PBPB) perform on same-store sales in Q2 2025?

Comparable company-operated shops delivered 3.2% same-store sales growth versus Q2 2024.

Why did net income drop sharply year over year?

Q2 2024 included a $31 m deferred-tax valuation allowance release; absent that one-time benefit, 2025 net income of $2.5 m is comparable operationally.

What is Potbelly’s current debt and cash position?

As of 6/29/25 the company had no long-term debt and $16.2 m in cash with an untapped $30 m revolver.

How many Potbelly locations are operating?

Total units reached 447 (340 company-operated, 107 franchised) as of 6/29/25.

What was the Q2 2025 shop-level profit margin?

Company-operated shops achieved a 16.7% profit margin, up 100 bps year over year.

Has Potbelly been repurchasing shares?

Yes, the firm bought back 230,326 shares YTD 2025 for approximately $2.1 m under its 2024 $20 m program.
Ionq Inc

NYSE:IONQ

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12.24B
275.46M
2.76%
35.06%
12.01%
Computer Hardware
Services-computer Integrated Systems Design
United States
COLLEGE PARK