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Revenue (Tables)
12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue Disaggregated by Revenue

The Company's revenues disaggregated by revenue source is as follows (in thousands):

 

 

Year Ended
December 31,

 

 

2024

 

 

2023

 

 

2022

 

Specialized quantum computing hardware

 

$

21,594

 

 

$

7,083

 

 

$

239

 

Platform, consulting and support services

 

 

21,479

 

 

 

14,959

 

 

 

10,892

 

Total revenue

 

$

43,073

 

 

$

22,042

 

 

$

11,131

 

 

The Company's revenues disaggregated by customer location is as follows (in thousands):

 

 

Year Ended
December 31,

 

 

2024

 

 

2023

 

 

2022

 

United States

 

$

40,714

 

 

$

18,703

 

 

$

9,175

 

International

 

 

2,359

 

 

 

3,339

 

 

 

1,956

 

Total revenue

 

$

43,073

 

 

$

22,042

 

 

$

11,131

 

Summary of Changes in Unearned Revenue

The following table summarizes the changes in unearned revenue for the years ended December 31, 2024, 2023 and 2022 (in thousands):

 

 

2024

 

 

2023

 

 

2022

 

Beginning balance

 

$

12,534

 

 

$

9,930

 

 

$

4,963

 

Revenue recognized

 

 

(11,911

)

 

 

(8,660

)

 

 

(4,216

)

New deferrals, net

 

 

10,055

 

 

 

11,264

 

 

 

9,183

 

Ending balance

 

$

10,678

 

 

$

12,534

 

 

$

9,930