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IonQ, Inc. (IONQ)

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IonQ, Inc. (IONQ) reported revenue of $80 million for Q2 FY2026, the quarter ended 30 June 2026, up 286.8% on the same quarter a year earlier. Net income was -$1.9 billion, and diluted earnings per share $-5.08. The figures are the company's own, from the 10-Q it filed with the SEC on 10 August 2026.

Revenue$80 millionup 286.8%
Net income-$1.9 billion
Diluted EPS$-5.08
QuarterQ2 FY2026ended 30 June 2026

IonQ (IONQ) in brief

IonQ (IONQ) reported revenue of $130 million for fiscal 2025, the year ended 31 December 2025, up 201.9% on the year before.
Read moreNet loss was $510 million and the diluted loss per share $1.82. Revenue was $43 million in fiscal 2024, $22 million in fiscal 2023, $11 million in fiscal 2022 and $2 million in fiscal 2021. Net income in the same years was a loss of $332 million, a loss of $158 million, a loss of $49 million and a loss of $106 million. Over the twelve months to 30 June 2026, IonQ reported revenue of $246 million and net loss of $1.4 billion. IonQ had 381 million shares outstanding at the latest filed count. At 31 December 2025 it carried $0 million of debt and $1.2 billion of cash. At the close of 27 October 2026 the market cap of IonQ was $12.6 billion.

Ratios

From the filings

ROE-41.0%
ROCE-26.5%
Operating margin-408.2%
Net margin-553.3%
FCF margin-196.3%
Interest covern/a
Debt to equity0.00
Cash conversionn/a
Share count, last 12 months41.3%
Sales CAGR, 3 years126.9%
Profit CAGR, 3 yearsn/a
EPS, TTM-$4.66

At the close of 27 October 2026

Price$32.96
Market cap$12.6 billion
Stock P/En/a
Price to book3.77
EV / EBITDAn/a
Dividend yieldn/a
Market cap / sales50.96
52-week high$72.07
52-week low$26.59
Price, 1 year-47.5%
Price CAGR, 3 years48.1%
Price CAGR, 5 years19.3%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. IonQ, Inc.'s balance sheet of 31 December 2025 shows no borrowings, so debt here is nil; lease liabilities are a separate line. Nothing here is a valuation or a view.
IONQgreeksoup.ai
Daily prices to 27 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on IONQ

Dividendsno dividend in its filings for fiscal 2020 onward
Filings32 in twelve months: 21 current reports (8-K), about 8 other events; 5 results of operations; 4 unregistered sale of equity; 4 regulation FD disclosure; 4 officer or director change
Planned insider sales36 Form 144 notices in twelve months, $106.4 million; latest 10 September 2026
Options tapeput/call 0.96 by open interest at the 27 October 2026 close; the straddle prices a 5.6% move to 30 October 2026
13F holders787 funds reported a position for the quarter to 30 June 2026; largest Morgan Stanley
Insider trading12 sales and 2 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest47.9 million shares short, 1.95 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 20 quarters

Q3 FY2021Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue0.21.62.02.62.83.84.35.56.16.17.611.412.411.77.620.739.961.964.780.0
Cost of revenue0.20.30.60.70.70.91.01.92.03.23.45.66.55.04.38.321.343.649.360.1
Gross profit-0.01.41.41.92.02.93.23.64.12.94.25.85.96.73.312.418.618.315.419.9
Gross margin-0%82%71%72%73%76%76%66%67%48%55%51%47%57%43%60%47%30%24%25%
R&D6.24.97.39.713.313.716.219.924.631.632.431.233.240.140.010366.396.1126161
Operating income-10.5-10.8-18.3-18.9-24.9-23.6-28.0-33.1-42.2-54.4-52.9-48.9-53.1-77.5-75.7-161-169-229-272-337
Operating margin-4517%-658%-936%-726%-902%-621%-654%-600%-688%-892%-697%-430%-429%-662%-1000%-776%-423%-369%-420%-421%
Pre-tax income-14.8-74.1-4.2-1.7-24.0-18.6-27.3-43.7-44.8-41.9-39.6-37.5-52.5-202-32.2-193-1,060728798-1,875
Tax raten/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a-3%-1%n/a
Net income-14.8-74.1-4.2-1.7-24.0-18.6-27.3-43.7-44.8-41.9-39.6-37.6-52.5-202-32.3-177-1,055754805-1,868
Net margin-6344%-4495%-216%-63%-868%-490%-638%-793%-730%-686%-522%-330%-423%-1725%-426%-855%-2646%1218%1245%-2333%
Diluted EPS-$0.12-$0.51-$0.02-$0.01-$0.12-$0.09-$0.14-$0.22-$0.22-$0.20-$0.19-$0.18-$0.24-$0.93-$0.14-$0.70-$3.58$1.93$2.07-$5.08
Operating cash flow-12.0-4.7-8.3-8.6-12.9-14.9-13.8-16.1-22.3-26.6-20.5-26.6-19.2-39.4-33.0-52.6-123-74.5-151-104
Capital expenditure2.32.52.74.31.41.01.21.24.17.23.17.53.83.62.31.24.18.88.410.2
Free cash flow-14.3-7.2-11.0-13.0-14.2-15.9-15.0-17.3-26.4-33.8-23.6-34.1-23.0-43.0-35.3-53.8-127-83.3-159-114
Shares outstanding200m196m196m198m199m200m200m202m204m207m211m214m216m222m243m270m325m363m373m381m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 6 fiscal years and the trailing twelve months

FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue0.02.111.122.043.1130246
Cost of revenue0.11.02.98.120.677.5174
Gross profit-0.11.18.213.922.552.572.3
Gross marginn/a50.5%73.6%63.2%52.2%40.4%29.3%
Research and development10.220.244.092.3137306449
Operating income-15.7-38.7-85.7-158-232-634-1,006
Operating marginn/a-1843.1%-770.3%-715.7%-539.7%-487.4%-408.2%
Pre-tax income-15.4-106-48.5-158-332-557-1,408
Income tax0.00.00.00.00.1-44.6-41.8
Net income-15.4-106-48.5-158-332-510-1,364
Net marginn/a-5058.9%-435.8%-715.8%-770.0%-392.6%-553.3%
Diluted EPS-$0.13-$0.77-$0.25-$0.78-$1.56-$1.82-$4.66
Filing10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Revenue by product or service FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
Quantum Hardware7.121.669.953.8%
Platform, Consulting and Support Services15.021.560.146.2%
Quantum HardwarePlatform, Consulting and Support Services
22.0FY202343.1FY2024130FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2023 to FY2025

FY2023FY2024FY2025Share
of the parts, latest year
United States18.740.787.066.9%
Other International2.70.826.420.3%
Switzerland0.61.516.612.8%
United StatesOther InternationalSwitzerland
22.0FY202343.1FY2024130FY2025

$ million; hover a block for its figure and share

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow-12.0-26.5-44.7-78.8-106-283-452
Capital expenditure10.07.89.313.718.016.431.5
Free cash flow-22.0-34.3-54.0-92.5-124-300-484
Free cash flow marginn/a-1635.1%-485.4%-419.7%-287.1%-230.4%-196.3%
Cash from investing-11.7-214-30968.882.7-2,095-1,452
Cash from financing0.36031.11.841.73,3593,005
Depreciation and amortisation1.42.55.610.418.782.0154
Share-based compensation1.27.731.569.7107312455
Diluted shares, weightedn/a138m198m203m213m280m368m
Shares outstanding at period end118m196m200m207m222m363m381m
Filing10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity53.75915684853843,8003,327
Non-controlling interestn/an/an/an/a0.014.212.4
Debtn/a0.00.00.00.00.0n/a
Operating lease liabilities3.83.63.57.414.421.242.8
Other liabilities3.047.226.361.21102,7353,396
Total liabilities and equity60.56425985545086,5706,779
Owned
Fixed assets12.018.926.037.552.8120144
Goodwilln/a0.00.70.79.91,9642,186
Intangible assets2.75.88.915.129.5767779
Investments0.02044934203092,3061,724
Cash and equivalents36.139944.435.754.41,0311,236
Receivables0.40.73.311.510.266.5106
Inventoryn/an/an/an/a0.010.324.9
Other assets9.314.021.232.842.2306579
Total assets60.56425985545086,5706,779
Filing10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compoundedn/an/a126.9%370.6%
Profit growth, compoundedn/an/an/an/a
Return on equity, averagen/a-31.8%-44.1%-13.4%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was IonQ's revenue in fiscal 2025?

IonQ (IONQ) reported revenue of $130 million for fiscal 2025, the year ended 31 December 2025, up 201.9% on the year before.

How much did IonQ earn in fiscal 2025?

Net loss was $510 million for fiscal 2025, and the diluted loss per share $1.82.

What is IonQ's market cap?

The market cap of IonQ was $12.6 billion at the close of 27 October 2026.

How much debt does IonQ have?

At 31 December 2025 IonQ carried $0 million of debt and $1.2 billion of cash.

Peers: Computers

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Samsara Inc. IOT$25.7 billion271.975.7%1.0%29.5%0.00n/a
Leidos Holdings, Inc. LDOS$17.5 billion13.0326.0%11.5%3.4%1.141.2%
Caci International Inc. CACI$14.7 billion27.3611.7%9.8%10.1%1.05n/a
GoDaddy Inc. GDDY$13.5 billion15.7613,586.6%24.8%7.4%563.34n/a
IonQ, Inc. IONQ$12.6 billionn/a-41.0%-408.2%370.6%0.00n/a
Jack Henry & Associates Inc. JKHY$11.1 billion22.7024.5%25.0%7.1%0.021.5%
Aurora Innovation, Inc. AUR$10.2 billionn/a-46.1%-19,400.0%n/a0.00n/a
Open Text Corp. OTEX$6.6 billion10.5516.0%20.6%1.5%1.444.0%
Science Applications International Corp. SAIC$6.3 billion17.4926.5%8.0%-0.8%1.731.0%
Waystar Holding Corp. WAY$5.4 billion40.013.4%22.9%19.2%0.37n/a
Agilysys Inc. AGYS$3.3 billion74.1612.4%14.3%14.9%0.000.1%
Kyndryl Holdings, Inc. KD$3.1 billion38.228.1%n/a-0.6%3.800.0%
All 40 in Computers
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Apple Inc. AAPL$5.07 trillion39.80119.9%33.2%14.2%0.780.3%
Cisco Systems, Inc. CSCO$439.4 billion33.3426.4%24.3%11.8%0.591.5%
Palo Alto Networks Inc. PANW$327.2 billion787.311.1%6.1%24.5%0.06n/a
Dell Technologies Inc. DELL$321.2 billion29.12n/a9.4%49.0%n/a0.5%
International Business Machines Corp. IBM$236.5 billion21.3331.4%n/a6.8%1.802.7%
Arista Networks, Inc. ANET$235.9 billion59.0127.3%43.1%32.6%0.00n/a
Sandisk Corp. SNDK$190.5 billion17.9072.7%61.2%175.3%0.00n/a
Seagate Technology Holdings plc STX$151.6 billion48.15146.9%33.6%34.1%1.660.4%
Western Digital Corp. WDC$142.4 billion14.73107.2%39.4%43.0%0.080.1%
Fortinet, Inc. FTNT$135.7 billion65.13136.7%32.4%18.8%0.32n/a
Hewlett Packard Enterprise Co. HPE$80.8 billion31.6910.5%6.2%26.6%0.760.9%
Everpure, Inc. P$46.3 billion190.2316.4%5.3%27.2%0.00n/a
NetApp, Inc. NTAP$44.6 billion32.1194.8%25.0%12.2%1.660.9%
HP Inc. HPQ$30.3 billion12.81n/a5.4%8.1%n/a3.5%
F5, Inc. FFIV$26.2 billion36.6918.8%24.5%9.4%0.00n/a
Samsara Inc. IOT$25.7 billion271.975.7%1.0%29.5%0.00n/a
Super Micro Computer, Inc. SMCI$23.0 billion10.9615.4%7.1%77.8%0.60n/a
Leidos Holdings, Inc. LDOS$17.5 billion13.0326.0%11.5%3.4%1.141.2%
Logitech International S.A. LOGI$16.0 billion20.5234.1%17.7%6.6%0.001.4%
Caci International Inc. CACI$14.7 billion27.3611.7%9.8%10.1%1.05n/a
GoDaddy Inc. GDDY$13.5 billion15.7613,586.6%24.8%7.4%563.34n/a
IonQ, Inc. IONQ$12.6 billionn/a-41.0%-408.2%370.6%0.00n/a
Jack Henry & Associates Inc. JKHY$11.1 billion22.7024.5%25.0%7.1%0.021.5%
Aurora Innovation, Inc. AUR$10.2 billionn/a-46.1%-19,400.0%n/a0.00n/a
Open Text Corp. OTEX$6.6 billion10.5516.0%20.6%1.5%1.444.0%
Science Applications International Corp. SAIC$6.3 billion17.4926.5%8.0%-0.8%1.731.0%
Waystar Holding Corp. WAY$5.4 billion40.013.4%22.9%19.2%0.37n/a
NCR Atleos Corp. NATL$3.4 billion18.0242.2%11.5%3.6%6.02n/a
Agilysys Inc. AGYS$3.3 billion74.1612.4%14.3%14.9%0.000.1%
Extreme Networks Inc. EXTR$3.1 billion74.5647.5%4.9%12.6%1.85n/a
Kyndryl Holdings, Inc. KD$3.1 billion38.228.1%n/a-0.6%3.800.0%
Digi International Inc. DGII$3.0 billion62.587.1%13.9%20.3%0.16n/a
Netscout Systems Inc. NTCT$2.9 billion24.707.3%14.8%5.8%0.00n/a
Parsons Corp. PSN$2.9 billion34.986.0%4.9%-5.8%0.560.0%
Pitney Bowes Inc. PBI$2.4 billion14.17n/a13.5%-5.3%n/a2.1%
Diebold Nixdorf, Inc. DBD$2.3 billion21.8411.5%6.4%5.4%0.970.0%
A10 Networks, Inc. ATEN$1.9 billion44.8218.1%16.1%12.2%0.920.9%
Omnicell, Inc. OMCL$1.7 billion43.763.0%4.6%8.5%0.13n/a
Corsair Gaming, Inc. CRSR$1.5 billion46.435.5%2.9%3.1%0.18n/a
NCR Voyix Corp. VYX$1.1 billion19.308.2%1.1%-4.8%1.19n/a
13 companies share its SEC industry code (Services-Computer Integrated Systems Design); the rest are the names nearest in size in its wider industry, Computers, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202610 August 2026EDGAR
10-Q31 March 20267 May 2026EDGAR
10-K31 December 202525 February 2026EDGAR
10-Q30 September 20255 November 2025EDGAR
10-Q30 June 20256 August 2025EDGAR
10-Q31 March 20257 May 2025EDGAR
10-K31 December 202426 February 2025EDGAR
10-Q30 September 20246 November 2024EDGAR
10-Q30 June 20247 August 2024EDGAR
10-Q31 March 202410 May 2024EDGAR