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IonQ, Inc.

IonQ, Inc.

NYSE•IONQ
CEO: Dr. Jungsang Kim Ph.D.
Sector: Technology
Industry: Computer Hardware
Listing Date: 2021-01-04
IonQ, Inc. engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems. The company was incorporated in 2015 and is headquartered in College Park, Maryland.
Contact Information
4505 Campus Drive, College Park, MD, 20740, United States
301-298-7997
ionq.com
Market Cap
$18.37B
P/E (TTM)
-10.4
42.9
Dividend Yield
--
52W High
$84.64
52W Low
$17.88
52W Range
51%
Rank60Top 78.6%
2.5
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 2.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2024

Financial Dashboard

Q3 2025 Data

Revenue

$39.87M+221.50%
4-Quarter Trend

EPS

-$3.58+1391.67%
4-Quarter Trend

FCF

-$127.21M+425.10%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Quarterly Revenue Surge Q3 Revenue reached $39.9 M, marking a 222% increase from $12.4 M in Q3 2024, driven by hardware sales.
Major 2025 Acquisitions Completed five acquisitions in 2025, including Oxford Ionics for approximately $1.59 B total consideration.
Substantial Financing Secured Closed October 2025 equity offering, raising approximately $1.98 B in net proceeds to fund operations and growth.
Balance Sheet Expansion Total Assets grew to $4.32 B as of September 30, 2025, up from $508.39 M at December 31, 2024.

Risk Factors

Deepening Net Loss Nine months net loss attributable to IonQ, Inc. widened to $(1.26 B) from $(129.6 M) year-over-year.
Warrant Liability Spike Warrant liabilities increased sharply to $1.77 B, primarily due to issuance of new Series A warrants in Q3 2025.
Executive Team Turnover Experienced significant turnover in top management and Board ranks during the third quarter of 2025.
Rising Operating Expenses R&D expenses increased 117% (9M) to $209.6 M, driven by headcount growth and stock-based compensation.

Outlook

Future Loss Expectation Expect continued significant losses prioritizing technical milestones necessary for achieving broad quantum advantage.
Liquidity Requirements Future capital needs depend on growth investments, potentially requiring additional equity or debt financing.
Continued R&D Investment Cash usage focused on operating expenses and continued investment in quantum computers and technology development.
Accounting Standard Review Currently evaluating the financial statement impact of several recently issued accounting standards effective in 2025/2026.

Peer Comparison

Revenue (TTM)

HP Inc.HPQ
$55.30B
+3.2%
Flex Ltd.FLEX
$26.33B
+3.5%
Leidos Holdings, Inc.LDOS
$17.33B
+6.5%

Gross Margin (Latest Quarter)

D-Wave Quantum Inc.QBTS
71.4%
+15.6pp
NetApp, Inc.NTAP
70.5%
-0.7pp
IonQ, Inc.IONQ
46.7%
+38.7pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CIEN$31.43B223.95.0%4.5%
SATS$29.93B-1.4-127.2%130.1%
FLEX$26.65B31.317.4%22.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
50.4%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 25, 2026
|
EPS:-$0.41
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 5, 2025|
    Revenue: $39.87M+221.5%
    |
    EPS: $-3.58+1391.7%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $20.69M+81.8%
    |
    EPS: $-0.70+288.9%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 7, 2025|
    Revenue: $7.57M-0.2%
    |
    EPS: $-0.14-26.3%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 26, 2025|
    Revenue: $43.07M+95.4%
    |
    EPS: $-1.56-100.0%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 6, 2024|
    Revenue: $12.40M+102.1%
    |
    EPS: $-0.24+9.1%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $11.38M+106.4%
    |
    EPS: $-0.18-18.2%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 10, 2024|
    Revenue: $7.58M+76.9%
    |
    EPS: $-0.19+35.7%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 28, 2024|
    Revenue: $22.04M+98.0%
    |
    EPS: $-0.78-212.0%
    Beat