IonQ (IONQ) Company Report

IonQ's CFO, Inder Singh, outlined the company's strategy to develop both quantum hardware and applications, expanding its product portfolio to include networking, quantum security, and sensing solutions.
IonQ's 5-year product roadmap includes a 100-qubit machine rolling out now, 256 qubits by the end of 2026, 10,000 qubits next year, and up to 2 million qubits eventually, with a planned transition to semiconductor-based machines for cost efficiency.
The company reported $130 million in revenue and anticipates 80% or better organic growth for the current year, potentially reaching 100%. IonQ also holds a strong $3.3 billion cash balance to support long-term R&D and infrastructure investments.
Demand for the 100-qubit machine (Tempo) is higher than anticipated, and IonQ plans to leverage classical semiconductor foundries for future manufacturing to meet this demand.

1 day ago

Transcript

IonQ CFO Andrew Ng discusses quantum computing strategy and market outlook

IONQ

New Projects/Investments

Revenue Acceleration/Inflection

Management Change

IonQ's CFO, Andrew Ng, joined the company in September (approximately five to six months prior to the conference) after serving on the board since the company went public.
IonQ is focused on building both quantum computing machines and their associated applications, with a roadmap to scale from its current 100-qubit (5th generation) machine to 256 qubits by the end of 2026, and further to 10,000 next year and eventually up to 2 million qubits.
The company reported $130 million in revenue and guided for 80% or better organic growth for 2026, with a potential to reach 100%.
IonQ is experiencing demand exceeding supply for its 100-qubit machine, which is manufactured in Seattle, and plans to transition to semiconductor-based ion traps for future generations to utilize classical semiconductor foundries.
IonQ maintains a strong cash balance of $3.3 billion, which provides the ability to invest for the long term in R&D and infrastructure, and instills confidence in customers.

1 day ago

Transcript

IonQ CFO Discusses Product Roadmap, Financial Performance, and Strategic Vision at Morgan Stanley Conference

IONQ

Revenue Acceleration/Inflection

New Projects/Investments

CFO Change

IonQ's CFO, Inder Singh, who moved from the board to COO and CFO in September (approximately five to six months prior to the document date), outlined the company's strategy to build both quantum computing machines and their applications, expanding its product portfolio from one to over a dozen products in the past year.
The company reported $130 million in revenue and anticipates 80% or better organic growth for the current year, potentially reaching 100%.
IonQ's product roadmap includes rolling out a 100-qubit 5th-generation machine, with plans to reach 256 qubits by the end of this year, 10,000 next year, and up to 2 million eventually. Demand for the 100-qubit machine is currently exceeding supply.
The company possesses a strong balance sheet with $3.3 billion in cash.
IonQ is transitioning its manufacturing from laser-based to semiconductor-based ion traps, which is expected to enable lower costs and utilize existing classical semiconductor foundries.

1 day ago

Transcript

IonQ Deploys Large Quantum Key Distribution Network in Romania

IONQ

New Projects/Investments

Product Launch

IonQ has successfully deployed the technology powering the Romanian National Quantum Communication Infrastructure (RoNaQCI), establishing one of the largest operational quantum key distribution (QKD) networks in Europe.
This network comprises 36 quantum-secured links spanning over 1,500 kilometers across six major Romanian metropolitan areas, accounting for more than 20 percent of Europe’s terrestrial quantum communications infrastructure to date.
The QKD systems were supplied by IonQ's subsidiary, ID Quantique, demonstrating the scalability and operational readiness of IonQ's commercially available QKD technology for national infrastructure.
This deployment is a major milestone for Europe's critical communications security and directly contributes to the realization of EuroQCI, Europe's flagship quantum communication infrastructure.

Feb 26, 2026, 12:00 PM

Press Release

IonQ Reports Record Q4 and Full Year 2025 Results, Announces SkyWater Acquisition, and Provides 2026 Revenue Guidance

IONQ

Earnings

M&A

Guidance Update

IonQ reported record financial results for Q4 and full year 2025, with Q4 revenue of $61.9 million, marking a 429% year-over-year increase, and full year revenue of $130 million, representing 202% year-on-year growth.
The company announced its intent to acquire SkyWater Technology, described as the largest acquisition agreement in quantum history and the first public-to-public planned quantum transaction, aiming to become the world's largest quantum merchant supplier.
IonQ has transformed into a full-stack quantum platform company, expanding its offerings to include quantum networking, sensing, and security solutions, and currently holds over $3 billion in cash.
For 2026, IonQ is targeting $235 million in revenue at the midpoint of its guidance.
Key technical achievements include demonstrating 99.99% two-qubit gate fidelity and targeting an operational 256-qubit system in Q4 2026.

Feb 25, 2026, 9:30 PM

Transcript

IonQ Exceeds Revenue Expectations in Q4 and Full-Year 2025

IONQ

Earnings

Revenue Acceleration/Inflection

Guidance Update

IonQ reported Q4 2025 revenue of $61.9 million, a 429% year-over-year increase, and full-year 2025 revenue of $130.0 million, representing 202% year-over-year growth. This performance exceeded expectations and marked the first time a public quantum company reported over $100 million in GAAP revenue.
For Q4 2025, the company reported an Adjusted EBITDA of ($67.4 million) and Adjusted EPS of ($0.20). Full-year 2025 Adjusted EBITDA was ($186.8 million) and Adjusted EPS was ($0.60).
As of December 31, 2025, IonQ maintained a strong financial position with approximately $3.3 billion in cash and equivalents.
The company provided FY 2026 revenue guidance of $225 million to $245 million.

Feb 25, 2026, 9:30 PM

Presentation

IonQ Reports Record 2025 Financial Results and Announces Intent to Acquire SkyWater Technology

IONQ

Earnings

M&A

New Projects/Investments

IonQ reported record financial results for 2025, with full year revenue of $130 million, a 202% year-on-year growth, and Q4 2025 revenue of $61.9 million. The company ended 2025 with $3.3 billion in cash, cash equivalents, and investments and Remaining Performance Obligations (RPO) of $370 million, a nearly fivefold increase from 2024.
The company announced its intent to acquire SkyWater Technology, a leading quantum foundry, to accelerate its quantum platform roadmap and become the largest quantum merchant supplier.
IonQ provided full year 2026 revenue guidance of $225 million to $245 million and Q1 2026 revenue guidance of $48 million to $51 million. The company projects full year 2026 adjusted EBITDA between -$310 million and -$330 million, reflecting continued investment in R&D.
Strategically, IonQ has expanded from a quantum computing company to a full-stack quantum platform company, delivering integrated solutions across computing, networking, sensing, and security.

Feb 25, 2026, 9:30 PM

Transcript

IonQ Reports Strong Q4 and Full Year 2025 Results, Issues 2026 Guidance, and Announces Strategic Acquisitions

IONQ

Earnings

Guidance Update

M&A

IonQ reported Q4 2025 revenue of $61.9 million, a 429% year-over-year increase, and full year 2025 revenue of $130 million, representing 202% year-on-year growth. The company's Remaining Performance Obligations (RPO) reached $370 million at the end of 2025, a nearly fivefold increase from 2024.
For full year 2026, IonQ projects revenue between $225 million and $245 million and adjusted EBITDA between -$310 million and -$330 million. This guidance excludes the impact of the pending SkyWater acquisition.
IonQ announced its intent to acquire SkyWater Technology in January 2026 to enhance its supply chain and manufacturing capabilities. Additionally, the company acquired Seed Innovations at the end of January, a classified mission control software business.
IonQ expanded its offerings to become a full-stack quantum platform company, encompassing computing, networking, sensing, and security. Key technical achievements include demonstrating 99.99% two-qubit gate fidelity and targeting an operational 256-qubit system in Q4 2026.

Feb 25, 2026, 9:30 PM

Transcript

IonQ Announces Fourth Quarter and Full Year 2025 Financial Results and 2026 Guidance

IONQ

Earnings

Guidance Update

M&A

IonQ reported $61.9 million in revenue for the fourth quarter of 2025, representing 429% year-over-year growth, and $130.0 million in revenue for the full year 2025, a 202% year-over-year increase.
For the fourth quarter of 2025, the company achieved net income of $753.7 million and GAAP EPS of $2.13; however, for the full year 2025, it reported a net loss of ($510.4) million and GAAP EPS of ($1.82).
As of December 31, 2025, IonQ's cash, cash equivalents, and investments totaled $3.3 billion.
The company provided full year 2026 revenue guidance of $225 million to $245 million, with first quarter 2026 revenue expected to be between $48 million and $51 million.
IonQ announced an agreement to acquire SkyWater Technology and expanded its agreement with QuantumBasel to over $60 million.

Feb 25, 2026, 9:05 PM

8-K

IonQ Announces Strong Q4 and Full Year 2025 Financial Results, Exceeding Guidance

IONQ

Earnings

Guidance Update

M&A

IonQ reported $130.0 million in annual revenue for fiscal year 2025, a 202% year-over-year increase, and $61.9 million for the fourth quarter, significantly outperforming guidance.
The company announced an agreement to acquire SkyWater Technology to become a leading quantum merchant supplier for the U.S. quantum industry.
As of December 31, 2025, IonQ held $3.3 billion in cash, cash equivalents, and investments.
For the full year 2026, IonQ projects revenue between $225 million and $245 million, with first-quarter revenue expected to be between $48 million and $51 million.
The company achieved a net income of $753.7 million and GAAP EPS of $2.13 for Q4 2025, contrasting with a full-year net loss of ($510.4) million and GAAP EPS of ($1.82).