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IonQ, Inc. cash flow statement

In fiscal 2025, IonQ, Inc.'s operations generated −$283m of cash; it spent $16.4m on capital projects, leaving free cash flow of −$300m.

Cash flow statement

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

Fiscal year2020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−12−27−45−79−106−283−452
Depreciation and amortisation136101982154
Stock-based pay183170107312455
Capital spending108914181631
Free cash flow−22−34−54−93−124−300−484
Free cash flow after stock pay−23−42−85−162−231−612−938
Shares issued———003,3132,954

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from IonQ, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to IonQ, Inc.