Admit it. You want to find the next Nvidia (NASDAQ:NVDA) stock before it takes a rocket ride. We all do! Right now, there’s a needle-in-a-haystack opportunity with IonQ (NYSE:IONQ) stock as IonQ gears up to release its quarterly results.

Just to recap, IonQ opened the first dedicated quantum-computing manufacturing facility in the U.S. This company is a quantum-computing innovator, but it remains unrecognized among investors. That’s actually a good thing, though as IonQ could easily be the next Nvidia and should be top-of-mind on Wall Street soon enough.

IonQ Develops Use Cases for Quantum Computing

Why did Nvidia stock soar in 2023 and 2024? This happened because the demand for artificial intelligence processors exploded, and Nvidia specializes in AI-enabled processors.

Similarly, IonQ specializes in quantum-computing technology, so IonQ stock offers a pure play in this emerging field. Granted, you might not be aware of the various use cases for quantum computing. For one thing, it can help to provide the vast computing power that’s required for AI applications.

There are other use cases, as well. For example, IonQ is teaming up with German-based science research center Deutsches Elektronen-Synchrotron. Together, they will advance quantum-computing technology in the field of flight-gate optimization.

Furthermore, IonQ is collaborating with Oak Ridge National Laboratory (ORNL) to “explore how quantum technology can be used to modernize the power grid.” This crucial research project is funded by none other than the U.S. Department of Energy.

IonQ Stock Traders: Mark Your Calendar for This Date

As you can see, IonQ is a highly active specialist in an exciting technology field. Is IonQ able to generate substantial revenue, though? The answer, as the data will show, is definitely yes.

Here’s the evidence. In 2023’s fourth quarter, IonQ generated $6.106 million in revenue. That’s up 60% year over year compared to the $3.807 million in revenue that IonQ reported in the year-earlier quarter. Plus, this result beat Wall Street’s consensus call for $5.8 million in revenue.

Due to the company’s expenses, IonQ recorded a Q4-2023 net earnings loss of 20 cents per share in 2023’s fourth quarter. Interestingly, the analysts’ consensus estimate calls for IonQ to generate $6.6 million in first-quarter 2024 revenue.

IonQ’s guidance predicts that the company will generate Q1-2024 revenue of $6.5 million to $7.5 million. The midpoint of that guidance range ($7 million) is higher than what Wall Street expects ($6.6 million). Is it possible that the company knows something that the analysts don’t?

Additionally, the analysts’ consensus estimate calls for IonQ to lose 25 cents per share in Q1 of 2024. That’s a low bar to clear, since IonQ only lost 20 cents per share in 2023’s third quarter and 14 cents per share in the year-earlier quarter.

So, mark your calendar for May 8. That’s when IonQ will publish its first-quarter 2024 results and, potentially, deliver not-as-bad-as expected results – i.e., a positive surprise.

IonQ Stock: Hold Through Earnings For Best Results

As we’ve discovered, IonQ is discovering new and important use cases for quantum-computing technology. Hence, for a pure play on the quantum-computing revolution, forward-thinking investors should take a share position in IonQ.

Moreover, the time to take action is now. IonQ has a prime opportunity to beat the Street’s muted expectations on May 8. With that in mind, I encourage you to get a head start in May and buy IonQ stock today.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.