IonQ Inc. (NYSE: IONQ) shares surged 5.42% in pre-market trading on Thursday following the company's impressive first-quarter earnings report and announcement of ambitious plans for a space-based quantum key distribution network.

The quantum computing company reported better-than-expected financial results for Q1 2025. IonQ posted revenue of $7.57 million, slightly above analysts' estimates of $7.51 million. The company's loss per share narrowed to $0.14, beating the expected loss of $0.20 per share. This performance marks a significant improvement from the same quarter last year when IonQ reported a loss of $0.19 per share.

Adding to the positive sentiment, IonQ unveiled plans to launch a global space-to-space and space-to-ground satellite quantum key distribution (QKD) network. This initiative includes the acquisition of Capella Space Corporation, a move that aims to position IonQ as the first company to have both a quantum network and quantum computer in space. The company also provided an optimistic outlook for Q2, projecting revenue between $16 million and $18 million, and reiterated its full-year 2025 revenue guidance of $75 million to $95 million. These developments have sparked investor enthusiasm, driving the stock's pre-market rally.