IonQ
Builds trapped-ion quantum systems spanning compute, networks, sensing, security, space data, and chip fabrication.
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Profile
Sells trapped-ion quantum computers, cloud access, services, networking and security equipment, sensing systems, satellite radar data, and semiconductor foundry services. Revenue comes from hardware sales and platform, consulting, and support contracts, while commercialization still depends on technical milestones, customer adoption, and third-party cloud distribution.
Builds trapped-ion quantum computers and sells complete systems, cloud-based compute access, maintenance, support, and application-development services. IonQ Tempo anchors the computing portfolio, with access distributed through its own service and AWS Braket, Microsoft Azure Quantum, and Google Cloud Marketplace.
Extends the platform into ID Quantique quantum networking and security products, Vector Atomic sensing, Capella Space radar-imaging data, and SkyWater semiconductor foundry and advanced-packaging services. The portfolio serves government, research, and commercial customers across the United States and international markets.
Combines quantum-hardware design with manufacturing, deployment, cloud operation, and acquired infrastructure businesses. Commercial progress remains tied to research milestones and customer adoption, while part of compute distribution depends on public-cloud providers that also develop competing quantum technologies.
Company facts
Key statistics
Year to date −16.2% · Average volume (30d) 19.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 6, 2026 | Morgan Stanley | Target | $48.50 | $49 | |
| Aug 6, 2026 | Jefferies | Target | $85 | $75 | |
| Jul 27, 2026 | Benchmark | Initiate | Buy | ||
| Jun 22, 2026 | Northland Securities | Target | $55 | $70 | |
| May 7, 2026 | Morgan Stanley | Target | $37 | $48.50 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.29 | −$0.33 | −13.8% | $66.4M | $80.1M | +20.5% | −0.53% |
| May 6, 2026Q1 FY26 | −$0.46 | $2.07 | +548.5% | $49.8M | $64.7M | +30.0% | −9.30% |
| Feb 25, 2026Q4 FY25 | −$0.48 | $1.93 | +502.1% | $40.4M | $61.9M | +53.3% | +21.70% |
| Nov 5, 2025Q3 FY25 | −$0.44 | −$3.58 | −713.6% | $27.0M | $39.9M | +47.7% | +3.65% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $7.6M | $20.7M | $39.9M | $61.9M | $64.7M | $80.1M | |
| Gross profit | −$3.3M | $1.8M | $19.1M | $35.0M | $15.4M | $19.9M | |
| Operating income | −$75.7M | −$146.5M | −$168.8M | −$242.7M | −$271.5M | −$337.2M | |
| Net income | −$32.3M | −$176.8M | −$1.05B | $703.5M | $805.4M | −$1.87B | |
| Diluted EPS | −$0.14 | −$0.70 | −$3.58 | $1.93 | $2.07 | −$5.08 | |
| Gross margin | -43.7% | 8.5% | 48.0% | 56.5% | 23.8% | 24.9% | |
| Operating margin | -1,000.3% | -707.9% | -423.5% | -392.2% | -419.8% | -421.3% |
Fiscal years (4-quarter sums)FY21 $2.1M · FY22 $11.1M · FY23 $22.0M · FY24 $43.1M · FY25 $130.0M
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.12B · Total debt $54.5M · Total assets $6.78B · Shareholders' equity $3.33B
Dividends
No dividends on record.
Ownership
Shares outstanding 373.27M · Float 370.50M · 99.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 20.90M | 5.60% | 13F | Aug 7, 2026 |
| Morgan Stanley | 20.83M | 5.60% | 13G | Aug 13, 2026 |
| Vanguard Capital Management LLC | 15.60M | 4.18% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 13.96M | 3.74% | 13F | Aug 13, 2026 |
| State Street Corp | 8.12M | 2.18% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 18, 2026 | John W. Raymond | director, other: Special Advisor | −3,815 | $55.01 |
| Jun 18, 2026 | Kathryn K. Chou | director | −2,757 | $55.02 |
| Jun 18, 2026 | Gabrielle B. Toledano | director | −2,757 | $55.01 |
| May 6, 2026 | Robert T. Cardillo | director, other: Executive Chair, IonQ Federal | −3,773 | $49.90 |
| Apr 16, 2026 | Robert T. Cardillo | director, other: Executive Chair, IonQ Federal | −2,500 | $44.90 |
Peers
- Quantinuum
Full-stack trapped-ion platform; H-series, TKET, InQuanto; just IPO'd.
- IBM
Broadest enterprise quantum cloud; Qiskit ecosystem; targets 2026 advantage.
- Alphabet Class A
Willow chip; first verifiable quantum algorithm advantage in Oct 2025.
- Microsoft
Azure Quantum multi-vendor platform; Majorana 1 topological qubit R&D.
- Rigetti Computing
Superconducting pure-play; 108-qubit cloud system; roadmap to 1,000 qubits.
- D-Wave Quantum
Annealing leader expanding to gate-model; 135+ enterprise customers.
- Arqit Quantum
Software quantum-safe encryption overlapping IDQ in QKD and PQC.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| IonQ | $39.41 | +0.56% | $14.63B | — | — | 59.4 | +286.8% |
| Quantinuum | $50.25 | +0.62% | $13.14B | — | — | 993.2 | — |
| IBM | $235.80 | +0.10% | $221.96B | 20.8 | 18.4 | 3.2 | +1.1% |
| Alphabet Class A | $346.00 | −0.14% | $4.19T | 17.4 | 25.8 | 9.4 | +24.2% |
| Microsoft | $513.06 | −0.06% | $3.81T | 28.6 | 26.2 | 11.5 | +17.8% |
| Rigetti Computing | $15.68 | +0.51% | $5.18B | — | — | 388.1 | +185.3% |
| D-Wave Quantum | $17.01 | +0.03% | $6.25B | — | — | 502.6 | −0.6% |
| Arqit Quantum | $20.16 | +0.80% | $348.7M | — | — | 321.1 | +270.8% |
| Median | 20.8 | 25.8 | 321.1 | +21.0% |