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IonQ, Inc. (IONQ) stock

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NYSE: IONQ NYSE Technology Hardware, Storage & Peripherals Next results ~November 5, 2026

E Fundamentals grade

IonQ develops quantum computers and related hardware for quantum networking, sensing and security, together with maintenance and support. Its systems use a trapped-ion design, in which individual charged atoms held in a vacuum act as qubits. It also sells access to quantum computers of varying capacity and, through a satellite network, offers data services such as synthetic-aperture radar imaging.

Its customers include corporations, governments and other large organisations, among them government agencies. The company earns revenue by selling full or partial quantum systems, deployed on customers' premises or reached over the cloud, and through quantum-computing-as-a-service, or QCaaS. Cloud access runs via marketplaces from Amazon (Braket), Microsoft (Azure Quantum) and Google, alongside IonQ's own platform, and is paired with professional and consulting services.

IonQ describes itself as the first and only quantum platform company, operating across computing, networking, sensing and security. During 2025 it acquired several businesses, including Oxford Ionics, Lightsynq Technologies, id Quantique, Vector Atomic and Capella Space, then Skyloom Global in January 2026, and has announced a pending acquisition of SkyWater Technologies. It remains in the early stages of commercial growth.

Based on IonQ, Inc.'s 10-K filed February 25, 2026.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$13

Growth cash-flow model

Base case. Range ~$8.0–$17. Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

IonQ, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter IonQ files

Where Ionq stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $246m, up 370.6% on a year earlier, faster than 334.6% a quarter earlier. That growth ranks 1 of 21 among the software and IT services companies we cover. Free-cash-flow margin rose to -196.3% from -296.2% a year earlier. Operating margin widened to -408.2% from -700.6%. The diluted share count is up 51.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 2 financial-health checks.

Source: 10-Q filed August 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

IonQ, Inc.'s trailing-twelve-month revenue grew 370.6% year on year, with a free-cash-flow margin of -196.3%. Where it stands out: revenue growth of 370.6% ranks 2 of 27 technology hardware, storage & peripherals companies we cover. Where it lags: operating margin of -408.2% ranks 26 of 26 technology hardware, storage & peripherals companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 370.6% (+36.1pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 370.6% over the last 12 months, against a median of 11.3% for technology hardware, storage & peripherals companies we cover.
  • Growth speeding up. The growth rate is 36.1 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 292.4 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $1.2bn.

Things to watch

  • Loss-making. Operating margin is -408.2%: costs exceed revenue.
  • Burning cash. Free cash flow was -196.3% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 184.4% of revenue, against a median of 1.9% for technology hardware, storage & peripherals companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 51.4% in a year.
  • High sales multiple. The shares trade at 39 times revenue while operating margins remain thin.
  • Volatile shares. Over the past year the shares showed annualised volatility of 91% and a beta of 3.6 against the S&P 500.

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
-$5.08 against an average estimate of -$0.60: missed by 748.6%
Revenue
$80m, up 286.8% on a year earlier
Share reaction
-4.8% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
revenue expectations $280m to $290m (full year 2026); organic growth growth 100% (the full year)
Next report
November 5, 2026; average EPS estimate -$0.34

IonQ's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-6.2%
  • 1 week-8.4%
  • 1 month-35.6%
  • This year-37.2%
  • 1 year-54.8%
  • 5 years+83.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$246M
Operating margin
-408.2%
Net margin
-553.3%
EPS (TTM, diluted)
$-3.95

Growth

Revenue growth
+370.6%
Change in growth rate
+36.1 pts
Share count change
+51.4%

Cash

Free cash flow (TTM)
-$484M
FCF margin
-196.3%
Stock pay % of revenue
184.4%

Earnings

Last results
August 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Partnership
  2. Results
  3. Announcement
  4. Announcement
  5. Financing
  6. Agreement
  7. Deal
  8. Announcement
  9. Announcement
  10. Partnership
  11. Announcement
  12. Announcement
  13. Announcement
  14. Leadership
  15. Share issue
  16. Results
  17. Guidance
  18. Announcement
  19. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

IonQ, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value IonQ, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 13.3%: the 10-year Treasury yield (4.9%) plus a beta of 1.85 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$13 ~$8.0–$17 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.0 ~$1.7–$8.9 Left out: out of range vs price (0.07x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$13 ~$8.0–$17 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare IonQ, Inc. with Technology Hardware, Storage & Peripherals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$16.70$3.45$12.39$41.77$44.87$28.17
Market value$2.3bn$682m$2.5bn$8.9bn$12.6bn$9.7bn
+ Net debt (− = net cash)−$399m−$44m−$36m−$54m−$1.0bn−$1.2bn
Enterprise value$1.9bn$638m$2.5bn$8.8bn$11.5bn$8.5bn
Multiples
Price / sales n/m0.6x113.9xn/m96.8x39.4x
Price / earnings ——————
Price / free cash flow ——————
EV / EBITDA ——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

12 /100

Weak moat

How hard IonQ's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -19.9% of total assets over 6 years.

  • Durability 10 / 20

    Operating margin has been a median -700.6%; its worst year was -1185.7%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 5 years, at a median -377.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (17 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $141m and EPS of −$0.34 (range −$0.45 to −$0.25) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$4.03 −121% $455m +250%
Next −$3.17 +21% $808m +78%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −1322.5% on 90 days ago. In the last 30 days, 3 analysts raised IonQ, Inc.'s forecast and 2 cut it.

Consensus EPS forecast IonQ, Inc., last 90 days
−$6.00 −$4.00 −$2.00 $0.00 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.33 Current fiscal year, 60 days ago: −$3.73 Current fiscal year, 30 days ago: −$4.48 Current fiscal year, 7 days ago: −$4.15 Current fiscal year, Now: −$4.03 −$4.03 Next fiscal year, 90 days ago: −$2.31 Next fiscal year, 60 days ago: −$2.97 Next fiscal year, 30 days ago: −$3.27 Next fiscal year, 7 days ago: −$3.40 Next fiscal year, Now: −$3.17 −$3.17

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.33−$2.31
60 days ago −$3.73−$2.97
30 days ago −$4.48−$3.27
7 days ago −$4.15−$3.40
Now −$4.03−$3.17

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.60 −$5.08 −748.6%
Mar 2026 −$0.52 $2.07 +498.9%
Dec 2025 −$0.47 $1.93 +508.5%
Sept 2025 −$0.44 −$3.58 −713.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • revenue expectations full year 2026 $280m to $290m Raised
    “For the full year 2026, IonQ is raising its revenue expectations to between $280 million and $290 million.” source
  • organic growth the full year about 100% growth Maintained
    “For the full year, IonQ continues to expect strong organic growth of 100% year-on-year” source

How earlier guidance turned out

  • revenue expectations, second quarter 2026 guided $65m to $68m Above range: $80.05m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

14 analysts, Oct 2026
Buy1286%
Hold214%
Sell00%

Monthly trend

  1. Oct 2026111214
  2. Sep 2026111214
  3. Aug 2026110213
  4. Jul 2026110213

Counts of recommendations published by analysts covering IonQ, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.8%
of tradable shares
Days to cover
1.84
at average volume
Short interest, 1 month
+18%
to October 15, 2026
Held by institutions
47%
of shares
Held by insiders
0.7%
of shares
Employees
1,132
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 20222023202420252026 to date
Return
IONQ−79%+259%+237%+7%−37%
Industry peers (median)−35%+28%+12%+3%+4%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
IONQ33%67%50%50%36%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
IONQ−82%−52%−48%−64%−61%
S&P 500−25%−10%−8%−19%−9%

Worst fall since January 4, 2021: 90% from November 17, 2021 to December 27, 2022. Getting back needed a 900% gain, reached on November 21, 2024, 695 days after the low.

Price behaviour

52-week range
$26.59 – $72.07
From 52-week high
−60.9%
vs 50-day average
−25.6%
vs 200-day average
−32.8%
Volatility (1 year)
91%
Beta vs S&P 500
3.60

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±11.4%
After a week
7 up, 5 down
typical move ±16.5%
After a month
3 up, 9 down
typical move ±24.2%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −4.8% −0.4% +8.3% −6.5%
May 6, 2026 −0.7% +1.1% +15.1% +18.3%
February 25, 2026 +29.3% +0.3% +17.4% −5.6%
January 26, 2026 −3.7% +0.9% −18.4% −28.9%
November 5, 2025 +7.6% −0.7% −5.0% −1.3%
August 6, 2025 −3.6% +0.7% −1.9% −0.5%
May 7, 2025 +8.2% +1.1% +13.6% +32.6%
February 26, 2025 −16.2% −1.5% −23.9% −20.5%
November 6, 2024 +44.0% +3.3% +74.3% +147.4%
August 7, 2024 −1.4% +1.6% +1.4% −5.7%
May 8, 2024 +6.6% +0.6% +4.3% −8.9%
February 28, 2024 −10.5% +0.2% −14.3% −13.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

IonQ, Inc. in five measures

Fundamentals grade E
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) IonQ, Inc.
$0 $100M $200M $300M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $15.9M Revenue (TTM), FY23 Q4: $22M Revenue (TTM), FY24 Q1: $25.3M Revenue (TTM), FY24 Q2: $31.2M Revenue (TTM), FY24 Q3: $37.5M Revenue (TTM), FY24 Q4: $43.1M Revenue (TTM), FY25 Q1: $43.1M Revenue (TTM), FY25 Q2: $52.4M Revenue (TTM), FY25 Q3: $79.8M Revenue (TTM), FY25 Q4: $130M Revenue (TTM), FY26 Q1: $187.1M Revenue (TTM), FY26 Q2: $246.5M $246.5M

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $15.9M
FY23 Q4 $22M
FY24 Q1 $25.3M
FY24 Q2 $31.2M
FY24 Q3 $37.5M
FY24 Q4 $43.1M
FY25 Q1 $43.1M
FY25 Q2 $52.4M
FY25 Q3 $79.8M
FY25 Q4 $130M
FY26 Q1 $187.1M
FY26 Q2 $246.5M
Revenue growth, TTM YoY IonQ, Inc.
-200% 0% 200% 400% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 113.3% Revenue growth, TTM YoY, FY23 Q4: -98.0% Revenue growth, TTM YoY, FY24 Q1: 162.4% Revenue growth, TTM YoY, FY24 Q2: 148.4% Revenue growth, TTM YoY, FY24 Q3: 135.1% Revenue growth, TTM YoY, FY24 Q4: 95.4% Revenue growth, TTM YoY, FY25 Q1: 69.9% Revenue growth, TTM YoY, FY25 Q2: 67.8% Revenue growth, TTM YoY, FY25 Q3: 113.1% Revenue growth, TTM YoY, FY25 Q4: 201.9% Revenue growth, TTM YoY, FY26 Q1: 334.6% Revenue growth, TTM YoY, FY26 Q2: 370.6% 370.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 113.3%
FY23 Q4 -98.0%
FY24 Q1 162.4%
FY24 Q2 148.4%
FY24 Q3 135.1%
FY24 Q4 95.4%
FY25 Q1 69.9%
FY25 Q2 67.8%
FY25 Q3 113.1%
FY25 Q4 201.9%
FY26 Q1 334.6%
FY26 Q2 370.6%
Operating margin (TTM) IonQ, Inc.
-800% -600% -400% -200% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -796.5% Operating margin (TTM), FY23 Q4: -715.7% Operating margin (TTM), FY24 Q1: -720.7% Operating margin (TTM), FY24 Q2: -636.0% Operating margin (TTM), FY24 Q3: -558.9% Operating margin (TTM), FY24 Q4: -539.7% Operating margin (TTM), FY25 Q1: -592.8% Operating margin (TTM), FY25 Q2: -700.6% Operating margin (TTM), FY25 Q3: -604.5% Operating margin (TTM), FY25 Q4: -487.4% Operating margin (TTM), FY26 Q1: -443.3% Operating margin (TTM), FY26 Q2: -408.2% -408.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -796.5%
FY23 Q4 -715.7%
FY24 Q1 -720.7%
FY24 Q2 -636.0%
FY24 Q3 -558.9%
FY24 Q4 -539.7%
FY25 Q1 -592.8%
FY25 Q2 -700.6%
FY25 Q3 -604.5%
FY25 Q4 -487.4%
FY26 Q1 -443.3%
FY26 Q2 -408.2%
FCF margin (TTM) IonQ, Inc.
-600% -400% -200% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -468.1% FCF margin (TTM), FY23 Q4: -419.7% FCF margin (TTM), FY24 Q1: -399.1% FCF margin (TTM), FY24 Q2: -377.7% FCF margin (TTM), FY24 Q3: -305.4% FCF margin (TTM), FY24 Q4: -287.1% FCF margin (TTM), FY25 Q1: -314.5% FCF margin (TTM), FY25 Q2: -296.2% FCF margin (TTM), FY25 Q3: -324.8% FCF margin (TTM), FY25 Q4: -230.4% FCF margin (TTM), FY26 Q1: -226.4% FCF margin (TTM), FY26 Q2: -196.3% -196.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -468.1%
FY23 Q4 -419.7%
FY24 Q1 -399.1%
FY24 Q2 -377.7%
FY24 Q3 -305.4%
FY24 Q4 -287.1%
FY25 Q1 -314.5%
FY25 Q2 -296.2%
FY25 Q3 -324.8%
FY25 Q4 -230.4%
FY26 Q1 -226.4%
FY26 Q2 -196.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 2 1,235 22 43 130 246
EBITDA −14 −36 −80 −147 −214 −552 −852
Operating income −16 −39 −86 −158 −232 −634 −1,006
Net income −15 −106 −49 −158 −332 −510 −1,364
Diluted EPS −$0.13 −$0.77 −$0.25 −$0.78 −$1.56 −$1.82 −$3.95
Growth (year on year)
Revenue — — +>999% −98.2% +95.4% +201.9% +370.6%
Margins
EBITDA margin — <−999% −6.5% −668.6% −496.4% −424.3% −345.7%
Operating margin — <−999% −6.9% −715.7% −539.7% −487.4% −408.2%
Net margin — <−999% −3.9% −715.8% −770.0% −392.6% −553.3%
Free-cash-flow margin — <−999% −4.4% −419.7% −287.1% −230.4% −196.3%
Cash flow
Cash from operations −12 −27 −45 −79 −106 −283 −452
Capital spending 10 8 9 14 18 16 31
Free cash flow −22 −34 −54 −93 −124 −300 −484
Stock-based pay 1 8 31 70 107 312 455
Free cash flow after stock pay −23 −42 −85 −162 −231 −612 −938
Balance sheet
Cash 36 399 44 36 54 1,031 1,236
Total debt 0 0 0 0 0 0 0
Net debt (negative = net cash) −36 −399 −44 −36 −54 −1,031 −1,236
Diluted shares 115m 138m 198m 203m 213m 280m 345m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 2 checks passed · June 30, 2026
What it owns · $6.8bn
Short-term assets $2.4bnLonger-term assets $4.4bn
What it owes, and who funded it · $6.8bn
Short-term liabilities $226mLonger-term liabilities $3.2bnShareholders' equity $3.3bn
  • Short-term assets cover short-term liabilities $2.4bn of assets due within a year against $226m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.4bn short-term assets against $3.2bn of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From IonQ, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+51.4%
year over year
R&D spending
182.1%
of revenue
Days sales outstanding
157 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in technology hardware, storage & peripherals
Last 12 months unless stated IONQ QMCO MYND SSYS KODK TACT Median
Revenue, last 12 months $246m $296m $168m $551m $1.1bn $53m $3.9bn
Revenue growth, last 12 months 370.6% 11.3% −37.2% −3.7% 9.5% 10.5% 11.3%
Revenue growth, 3-year average 169.7% −10.7% — 4.4% −0.9% −12.1% 2.7%
Revenue growth, latest quarter 286.8% 25.7% — — 18.3% 1.1% 22.0%
Gross margin — 37.8% 21.0% 41.2% 24.1% 49.6% 34.7%
Operating margin −408.2% −2.3% −29.8% −13.2% 2.8% −0.8% 4.1%
Operating margin, 3-year average −581.6% −10.1% −6.9% −10.3% −0.2% −2.4% 4.2%
Net margin −553.3% −80.8% −32.2% −18.9% −8.3% −0.8% 2.0%
Cash from operations / revenue −183.5% −6.8% −27.1% 2.7% 42.7% 10.3% 6.3%
Free-cash-flow margin −196.3% −7.1% −27.2% −2.2% 40.9% 9.9% 3.0%
Free-cash-flow margin, 3-year average −290.1% −8.7% −7.6% 1.7% 9.7% 7.8% 4.7%
Stock pay / revenue 184.4% 0.1% 1.7% 4.4% 1.4% 3.8% 1.9%
Change in share count 51.4% 154.0% 0.1% 15.2% 11.5% 1.4% 1.4%

Median of all 27 companies we cover in technology hardware, storage & peripherals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

27 technology hardware, storage & peripherals companies
Measure Company Peer median Rank
Revenue growth Growth 370.6% 11.3% 2 of 27
Change in growth rate Growth +36.1pp +5.0pp 3 of 27
Operating margin Profitability -408.2% 5.3% 26 of 26
Net margin Profitability -553.3% 2.0% 27 of 27
Free-cash-flow margin Cash generation -196.3% 3.6% 26 of 26
Stock pay as % of revenue Cash generation 184.4% 1.9% 27 of 27
Change in share count Balance sheet 51.4% 1.4% 26 of 27
Days sales outstanding Balance sheet 157 days 54 days 23 of 23

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Quantum Hardware $69.9M 53.8% ▲ 223.9%
Platform Consulting and Support Services $60.1M 46.2% ▲ 179.7%
Geography
Region Revenue Share YoY
United States $87M 66.9% ▲ 113.6%
Outside the US $26.4M 20.3% ▲ 3154.8%
Switzerland $16.6M 12.8% ▲ 975.0%

From IonQ, Inc.'s 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$10.5B
Institutions reporting
777
Shares held vs prior quarter
▼ 1.7%
Positions opened / closed
225 / 75

Top buyers and sellers, Q2 2026: 524 institutions bought and 226 sold ; the biggest buyer was Morgan Stanley (+5.1M shares) and the biggest seller Blackrock, Inc (−9.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Morgan Stanley $1.4B 26.3M 13.3% ▲ 24.2%
Blackrock, Inc. $1.1B 20.9M 10.6% ▼ 30.0%
Vanguard Capital Management LLC $831M 15.6M 7.9% ▲ 3.5%
Vanguard Portfolio Management LLC $743M 14.0M 7.1% ▼ 9.3%
State Street Corp $433M 8.1M 4.1% ▼ 12.4%
UBS Group AG $421M 7.9M 4.0% ▲ 36.0%
Bank Of America Corp $345M 6.5M 3.3% ▲ 258.0%
Geode Capital Management, LLC $343M 6.5M 3.3% ▼ 23.5%
Norges Bank $276M 5.2M 2.6% —
Marex Group Ltd $197M 3.7M 1.9% ▼ 7.4%
D. E. Shaw & Co., Inc. $143M 2.7M 1.4% ▲ 41.5%
Charles Schwab Investment Management Inc $126M 2.4M 1.2% ▼ 18.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not IonQ, Inc.'s complete shareholder register. Values are as reported by the filers ; 6 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $224,785 2 trades by 1 insider, last 12 months Insider sales History → $7.2M 12 trades by 5 insiders · 99% under pre-set plans
Net ▼ $7M net selling
Insider Date Trade Shares Price Value
Raymond John W Director September 10, 2026 Sell pre-set plan 2,407 $37.21 $89,564
Raymond John W Director June 18, 2026 Sell pre-set plan 3,815 $55.01 $209,863
Chou Kathryn K. Director June 18, 2026 Sell pre-set plan 2,757 $55.02 $151,690
Toledano Gabrielle B Director June 18, 2026 Sell pre-set plan 2,757 $55.01 $151,663
Cardillo Robert T. Director May 6, 2026 Sell pre-set plan 3,773 $49.90 $188,273
Cardillo Robert T. Director April 16, 2026 Sell pre-set plan 2,500 $44.90 $112,250
Raymond John W Director March 12, 2026 Sell 2,800 $33.34 $93,352
Teuber William J Jr Director February 27, 2026 Buy 3,000 $38.38 $115,155
Cardillo Robert T. Director February 26, 2026 Sell pre-set plan 5,165 $39.44 $203,685
Toledano Gabrielle B Director February 24, 2026 Sell pre-set plan 616 $31.00 $19,096
Chou Kathryn K. Director December 22, 2025 Sell pre-set plan 5,000 $55.00 $275,000
Chou Kathryn K. Director December 11, 2025 Sell pre-set plan 20,000 $51.40 $1M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 0 sales of IonQ, Inc. shares.

  • W. Gregory Steube(R-FL 17):Purchase, $1,001 - $15,000, traded March 18, 2026, filed April 14, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 30, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • February 25, 2026
  • January 26, 2026
  • November 5, 2025
  • August 6, 2025

Recent SEC filings

Data status

When each part of this page on IonQ, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

IonQ, Inc. in brief

What does IonQ, Inc. do?
IonQ, Inc. is a US-listed company in the technology hardware, storage & peripherals industry. Its financial year ends in December.
What is IonQ, Inc.'s stock ticker?
IonQ, Inc. trades under the ticker IONQ on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is IonQ, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, IonQ, Inc. reported revenue of $246M, 370.6% higher than a year earlier, according to its SEC filings.
What is IonQ, Inc.'s free cash flow?
IonQ, Inc.'s free-cash-flow margin is -196.3% of revenue over the trailing twelve months, ranking 26 of the 26 technology hardware, storage & peripherals companies we cover.
Who are IonQ, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Morgan Stanley, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is IonQ, Inc.'s market cap?
On November 2, 2026, IonQ, Inc.'s market capitalisation was about $9.7B and net debt of -$1.2B. Market figures come from third-party market data and may be delayed.
Who are IonQ, Inc.'s competitors?
In our Technology Hardware, Storage & Peripherals peer group, the companies closest to IonQ, Inc. are Quantum Corp, Mynd.ai, Inc., Stratasys LTD., Eastman Kodak Co and Transact Technologies Inc. The side-by-side comparison below sets their revenue, margins and growth against IonQ, Inc.'s.
Are insiders buying or selling IonQ, Inc. stock?
Over the last 12 months, IonQ, Inc.'s directors and officers reported 2 open-market purchases and 12 sales on Form 4. The insider trading page charts every trade.
When is IonQ, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — IonQ, Inc. announces its own schedule.