Generální ředitel společnosti IonQ Niccolo de Masi zopakoval, že „Q-Day“ nastane už v roce 2028 a že 2 000qubitový stroj by mohl prolomit ECC šifrování Bitcoinu za méně než 26 dní. Dodal, že tato schopnost zatím neexistuje.
IonQ's CEO just put a specific year on Q-Day, the moment quantum computers could shatter the encryption protecting Bitcoin wallets, and the timeline is far closer than most investors realize. The twist: he's also selling the only product he claims…
Speaking on CNBC Wednesday morning, IonQ (NYSE:IONQ | IONQ Price Prediction) Chairman and CEO Niccolo de Masi put a countdown clock on the cryptography underpinning the world’s largest digital asset. He said IonQ has published a paper laying out how a 2,000-qubit machine could run an elliptic-curve encryption attack in under 26 days, and he reiterated 2028 as his expectation for “Q-Day,” the point at which quantum machines threaten today’s public-key standards. He was careful to add the capability “is not here yet.”
Why the Timeline Just Got Shorter De Masi has been telegraphing this compression for months. On IonQ’s Q2 2026 call, he told investors: “As I foretold a year ago, the timeline for cryptographically relevant machines that threaten RSA encryption is rapidly compressing. Over the past 15 years, the estimated number of qubits needed to break encryption has dropped by four orders of magnitude.” He added: “A year ago, people thought that Q-Day was something happening in the 2030s. They now understand it’s something happening in the 2020s.”
CFO Inder Singh warned that “financial services is definitely waking up to the cold, hard reality that at some point, RSA 2048 and other encryption protocols, such as ECC 256, may all be broken.” ECC 256 secures Bitcoin wallet signatures.
Roadmap Behind the Warning De Masi said the company is “accelerating our path to 10,000 qubits in 2027,” after having received first fully featured, fully integrated QPUs back from SkyWater and planning to begin commissioning 256-qubit systems in 2027. Q2 revenue landed at $80.1 million, up 287% year over year, with full-year 2026 guidance of $280M to $290M and remaining performance obligations of $485 million.
Self-Interest, in His Own Words De Masi flagged the obvious tension himself, telling CNBC IonQ is “a huge participant, investor, and solution provider in the quantum security space.” The company just launched a QKD product, ClavisXG Multiplex, aimed at protecting existing fiber networks, and de Masi called quantum key distribution something “that requires a violation of laws of physics to hack and crack.” He is publishing the threat and selling the shield.
Collision With Crypto Flows Bitcoin (CRYPTO:BTC) traded near $79,530 Wednesday, up 22.96% over the prior month. Michael Saylor’s Strategy resumed buying, disclosing a $370 million bitcoin purchase after a 10-week pause. The buyers most exposed to de Masi’s timeline are adding, not trimming.
IonQ shares last traded at $39.17, down 11.84% over the past month and 12.7% year to date, even after the SkyWater close and 256-qubit progress. If de Masi is right about 2028, the market is not yet pricing it in (we studied what the early signals of the biggest tech winners looked like and turned it into a free playbook here: The Next Nvidia Playbook).
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IonQ IONQ shares jumped 5% on Tuesday as the quantum computing company raised its 2026 revenue forecast following the integration of SkyWater Technologies.
IonQ now projects 2026 revenue of $450 million to $460 million, with the range including revenue from SkyWater. IonQ completed the acquisition on July 31, giving the company access to SkyWater's semiconductor manufacturing capabilities.
The company also released research detailing the resources required to run Shor's algorithm on a fault-tolerant quantum system. The work examines how applications can be adapted for trapped-ion quantum computers.
IonQ separately introduced Superion 256, its sixth-generation quantum platform. The chips were manufactured at SkyWater and are available for customer orders, with deliveries expected next year.
The updates give investors several areas to watch as IonQ combines its quantum technology with SkyWater's manufacturing operations. The higher revenue forecast also provides a new financial benchmark following the acquisition.
The raised outlook and product launch could support investor sentiment as the combined business moves toward commercial deliveries.
Bank of New York Mellon Corp ve 2. čtvrtletí koupila nový podíl v IonQ za zhruba 113,863 milionu USD a držela 2 137 879 akcií. Tento podíl představoval 0,57 % společnosti.
Bank of New York Mellon Corp purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,137,879 shares of the company’s stock, valued at approximately $113,863,000. Bank of New York Mellon Corp owned 0.57% of IonQ as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in IONQ. Vanguard Group Inc. raised its position in shares of IonQ by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock valued at $1,560,343,000 after buying an additional 5,420,037 shares during the last quarter. Norges Bank purchased a new position in IonQ during the fourth quarter valued at $199,753,000. Marex Group plc grew its stake in IonQ by 419.1% during the fourth quarter. Marex Group plc now owns 4,083,453 shares of the company’s stock valued at $183,225,000 after acquiring an additional 3,296,866 shares in the last quarter. State Street Corp increased its holdings in IonQ by 42.3% in the 4th quarter. State Street Corp now owns 8,962,789 shares of the company’s stock valued at $402,160,000 after acquiring an additional 2,663,230 shares during the last quarter. Finally, Clear Street Group Inc. lifted its stake in IonQ by 219.6% in the 4th quarter. Clear Street Group Inc. now owns 3,195,818 shares of the company’s stock worth $143,396,000 after purchasing an additional 2,196,017 shares in the last quarter. Institutional investors own 41.42% of the company’s stock.
Insiders Place Their Bets In other IonQ news, Director Gabrielle B. Toledano sold 2,757 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total transaction of $151,662.57. Following the transaction, the director owned 11,154 shares in the company, valued at $613,581.54. The trade was a 19.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathryn K. Chou sold 2,757 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.02, for a total transaction of $151,690.14. Following the completion of the sale, the director directly owned 62,608 shares in the company, valued at approximately $3,444,692.16. This represents a 4.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,329 shares of company stock valued at $513,216 over the last three months. 0.55% of the stock is owned by company insiders.
Trending Headlines about IonQ Here are the key news stories impacting IonQ this week: Positive Sentiment: IonQ subsidiary Skyloom Global reported that its optical communications terminals have reached 84 on-orbit installations aboard satellites supporting the U.S. Space Development Agency’s Proliferated Warfighter Space Architecture. The deployment strengthens IonQ’s expansion beyond quantum computing into space-based, secure communications and may provide an additional long-term revenue opportunity. IonQ’s Skyloom Optical Communications Terminals Reach 84 On-Orbit Installations Following Latest Launch Positive Sentiment: Coverage also highlighted IonQ’s progress in satellite optical communications and expanded quantum access in Canada. These developments support the company’s commercialization narrative and diversify its potential applications beyond research-focused quantum computing. IonQ Puts 84 Space Terminals In Orbit And Expands Canada Quantum Access Neutral Sentiment: Comparative analyses noted IonQ’s revenue growth of more than 200% and stronger commercialization progress versus some peers. However, Quantum Computing Inc. was viewed favorably on smaller absolute losses, while QUBT received attention for strategic expansion and substantial implied analyst price-target upside. These comparisons may limit enthusiasm for IonQ despite its stronger growth profile. IonQ vs. Quantum Computing Inc.: Which Quantum Computing Stock Is a Better Buy in 2026? IONQ vs. QUBT: Which Quantum Computing Stock Led in Q2 Earnings? Negative Sentiment: Investors are questioning whether IonQ’s valuation is justified after a roughly 349.5% five-year return. Commentary cited expensive book-value metrics and the need for durable cash-flow growth, increasing sensitivity to execution and volatility. IonQ Stock May Be Rich On Book Value Yet Strong On Returns Negative Sentiment: Quantum stocks broadly unwound an earlier revenue-driven rally, with IonQ among the sector’s decliners as investors demanded clearer evidence of commercial-scale adoption. Reports also flagged insider activity and an estimated $863 million of selling across several quantum companies, adding to sentiment pressure. Quantum Stocks Unwind a Revenue-Headline Rally Insiders at IonQ, Rigetti, and D-Wave Have Put Wall Street on Notice Wall Street Analyst Weigh In Several brokerages have recently issued reports on IONQ. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of IonQ in a report on Thursday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of IonQ in a research note on Thursday, August 6th. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price target on shares of IonQ in a report on Thursday, August 6th. Jefferies Financial Group set a $75.00 price objective on IonQ in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, IonQ presently has an average rating of “Moderate Buy” and a consensus price target of $69.92.
View Our Latest Analysis on IonQ
IonQ Price Performance Shares of NYSE IONQ opened at $41.08 on Tuesday. IonQ, Inc. has a 1-year low of $25.89 and a 1-year high of $84.64. The business’s 50 day moving average is $43.96 and its two-hundred day moving average is $43.22. The stock has a market capitalization of $15.65 billion, a P/E ratio of -8.81 and a beta of 3.28.
IonQ (NYSE:IONQ – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.23. IonQ had a negative return on equity of 22.29% and a negative net margin of 553.27%.The firm had revenue of $80.05 million during the quarter, compared to analysts’ expectations of $66.47 million. During the same quarter in the previous year, the business earned ($0.70) EPS. The company’s quarterly revenue was up 286.7% on a year-over-year basis. As a group, equities research analysts anticipate that IonQ, Inc. will post -2.86 earnings per share for the current fiscal year.
IonQ Company Profile (Free Report)
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.
Recommended Stories Five stocks we like better than IonQ Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain Snowflake Could Be Headed for New Highs Despite Insider Selling MongoDB Is Surging—And the Next Catalyst Is Almost Here Want to see what other hedge funds are holding IONQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IonQ, Inc. (NYSE:IONQ – Free Report).
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IonQ ve 2. čtvrtletí vykázala rekordní tržby přes 80 milionů USD, meziročně o 287 % více, a zvýšila celoroční výhled na 280 až 290 milionů USD. Zůstává ale hluboko ve ztrátě a její provozní náklady přesáhly 417 milionů USD.
Quantum computing stocks have been one of the hottest trades in recent years. Emerging leaders IonQ (IONQ -7.68%), Rigetti Computing, and D-Wave Quantum are up between 20% and 50% from their April lows. Look out even further, and this trio has soared between 480% and 1,710% over the past two years. While IonQ is growing at blazing speeds, it's too hot for me to handle.
Here's why I'm not ready to buy this top quantum computing stock.
Image source: Getty Images.
There's a lot to like about IonQ I want to start by saying I'm genuinely intrigued by IonQ. The quantum computing company isn't all hype. It reported record revenues of more than $80 million in the second quarter, up an astonishing 287% year over year, driven by deployment across its entire quantum platform. That was its fifth straight quarter of delivering record results and the best quarter in its history.
That rapid growth should continue. IonQ recently raised its full-year guidance to between $280 million and $290 million. That doesn't reflect any contribution from its recent acquisition of SkyWater Technologies, which is creating the first vertically integrated, full-stack quantum platform.
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Why IonQ is too hot for me to handle Despite its massive revenue growth, IonQ is a long way from reaching profitability. Its total operating costs and expenses exceeded $417 million in the second quarter, more than five times its revenue. It has incurred a cumulative loss of $608.8 million from operations through the first six months of this year. While the company currently has a strong cash position ($2 billion after closing the SkyWater deal), it's burning through cash rather quickly. As a result, it will probably need to raise additional capital, which would dilute existing investors.
My other concern with IonQ is its valuation. The quantum computing company currently has a nearly $17 billion market cap following the more than 480% jump in its stock price over the past two years. That puts its valuation at over 55 times forward sales. While its revenue is growing rapidly, its valuation is rich. Stocks trading at lofty valuations tend to be very volatile, which has been the case with IonQ. The quantum computing stock has been down as much as 40% and up as much as 60% at various points this year.
This quantum computing stock isn't right for me IonQ is seeing real demand for its growing quantum platform, which it's expanding through acquisitions like SkyWater. It should continue to grow rapidly in the coming years as demand for this emerging technology increases. That has translated to a rich valuation for IonQ, which has become very volatile. It's also losing a lot of money. That makes it too risky for me. While I wouldn't touch IonQ right now, I would consider investing in a quantum computing ETF to gain exposure to this exciting sector while I wait for IonQ's losses to narrow and valuation to come down.
IonQ získala kontrakt od amerického NRO na podporu programu Radar Commercial Augmentation. Firma má dodávat komerční radarové snímky a související data pro bezpečnostní mise.
Another quarter has come and gone, and investors may still be waiting for the quantum computing industry's breakthrough moment. Although many likely assume this will come via artificial intelligence applications, cryptographic advancements, or even something like pharmaceutical research, it's possible that aerospace may get there first in the end.
IonQ Today
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IonQ NYSE: IONQ recently announced a promising government contract that suggests as much, although many investors may have missed it in the hype surrounding the company's noteworthy Q2 2026 earnings.
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In early August 2026, IonQ announced that its Space Division—formerly Capella—had been awarded a contract with the U.S. National Reconnaissance Office (NRO). The contract supports the NRO's Radar Commercial Augmentation (RCA) program. At first glance, this contract seems to be a satellite imaging award rather than a typical quantum computing contract. However, this may be exactly why IonQ's announcement could signal that the company is on the verge of a much larger commercial breakthrough.
A Closer Look at IonQ's Space AwardIonQ's agreement with the NRO provides that the company will offer commercial synthetic aperture radar imagery and related data services in support of various U.S. national security missions. This seems to be a far cry from IonQ's quantum tech and an unusual avenue for the firm to pursue, given its recent sales success and expanding commercial traction in that area. IonQ did not share the financial terms of the agreement.
Investors expecting a quantum computing deployment may be disappointed at first, but the contract suggests that IonQ may be transitioning from a firm focused entirely on quantum hardware to one building exposure to multiple industries and finding creative approaches to commercialize its tools. Given that the government is willing to agree to pay IonQ for these services, this contract is evidence of the company's success in making that pivot.
IonQ's Acquisitions Are Paying OffAll of this is possible thanks to IonQ's $311-million acquisition of Capella Space last year, one of a series of major purchases, including the recent high-profile deal involving SkyWater Technology. Although D-Wave NASDAQ: QBTS made headlines early in the year with its major acquisition of Quantum Circuits, this was, in some respects, a straightforward quantum play rather than a lateral move to dramatically expand its reach beyond the industry.
Despite paying substantial sums for several companies in recent years, IonQ's financials continue to stand out. Its latest earnings saw 287% year over year (YOY) growth in revenue to a record $80 million, plus a notable full-year revenue guidance raise to a range of $280 million to $290 million. What's more, the company still has about $3 billion in cash and investments, not including the SkyWater acquisition, which gives it tremendous financial flexibility compared to many rivals.
Why Space Makes Sense for IonQLike quantum computing, space is an industry undergoing rapid transformation, with many opportunities for growth that are likely yet untapped. Quantum technology applications in aerospace are becoming increasingly clear and may include securing satellite communications, developing and improving ultra-precise atomic clocks, managing observation and data collection, optimizing satellite constellations, providing GPS-independent navigation, and more.
Current Price$42.73High Forecast$100.00Average Forecast$69.92Low Forecast$35.00IonQ Stock Forecast Details
The radar application related to IonQ's NRO contract is especially important because it offers a real commercial benefit that is immediately available. These radar systems collect imagery regardless of time of day, cloud cover, and adverse weather, making them especially helpful for not only military intelligence but also disaster response, insurance use, and more. IonQ's commercial synthetic aperture radar platform gathers data that could be invaluable for monitoring pipeline movement or bridge stresses, for example.
The NRO award shows that IonQ's space projects—including prior defense work under both IonQ and Capella Space before the acquisition—are attracting government funding. Perhaps the surest sign that this has financial potential is the fact that competitors like IBM Corp. NYSE: IBM are also exploring collaborations with NASA on quantum tech.
It's unlikely that IonQ's NRO contract will have a material impact on the company's near-term financial results, particularly given that the firm has not disclosed the contract value. Rather, this award is more important as a potential strategic signal, suggesting that IonQ is putting into practice what many other quantum tech companies are still only hoping to do: finding revenue-generating real-world uses for quantum tools that can draw customer interest. If aerospace becomes increasingly important in the quantum computing industry, IonQ is particularly well-prepared to be able to meet that demand. What's more, the company's breadth outside of the pure quantum space suggests it may be able to achieve similar results elsewhere as well.
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IonQ uzavřela s CMC Microsystems memorandum o spolupráci a stane se oficiálním poskytovatelem cloudového kvantového přístupu pro FABrIC Quantum Computing Sandbox v Kanadě.
MOU establishes IonQ as a listed provider for the FABrIC Quantum Computing Sandbox, accelerating quantum research and enterprise adoption
TORONTO--(BUSINESS WIRE)--IonQ (NYSE: IONQ), the world’s leading quantum platform company, today announced a collaboration with Canadian Microelectronics Corporation, operating as CMC Microsystems. This collaboration integrates IonQ’s commercial trapped-ion quantum computing systems into Canada's FABrIC Quantum Computing Sandbox (QCS).
The framework for this initiative is covered under a newly signed memorandum of understanding (MOU), which designates IonQ as a listed cloud quantum computing access provider for the QCS. The QCS is operated through FABrIC, an initiative backed by funding from the Government of Canada's Strategic Response Fund (SRF) and managed by CMC Microsystems. The program aims to strengthen the nation's semiconductor and quantum industries by providing engineering support and cloud quantum computing access to Canadian academics and small-to-medium sized enterprises.
“Innovation moves faster when researchers and businesses can work with frontier quantum computing systems,” said Lisa Lambert, Vice President, Global Strategy & Managing Director, Canada at IonQ. “The FABrIC Quantum Computing Sandbox expands access to IonQ’s commercial technology so more Canadian researchers and businesses can start building quantum expertise and real capability now.”
“This is FABrIC's mandate in action: pairing a leading commercial quantum computing platform with the expertise to use it, so Canadian innovators can move from access to application,” said Gordon Harling, CEO of CMC Microsystems. “That's the outcome FABrIC was built to deliver."
About IonQ
IonQ, Inc. [NYSE: IONQ] is the world’s leading quantum platform and foundry - delivering integrated quantum solutions across computing, networking, sensing, and security. IonQ’s newest generation of quantum computers, the IonQ Tempo, is the latest in a line of cutting-edge systems. Earlier systems have helped customers and partners including Amazon Web Services, AstraZeneca, and NVIDIA achieve a 20x performance increase over previous quantum solutions and accelerate innovation in drug discovery, materials science, financial modeling, logistics, cybersecurity, and defense. In 2025, the company achieved 99.99% two-qubit gate fidelity, setting a world record in quantum computing performance.
Headquartered in College Park, Maryland, IonQ has operations in California, Colorado, Massachusetts, Tennessee, Washington, Italy, South Korea, Sweden, Switzerland, Canada, and the United Kingdom. Our quantum computing services are available through all major cloud providers, while we also meet the needs of networking and sensing customers across land, sea, air, and space. IonQ is making quantum platforms more accessible and impactful than ever before. Learn more at IonQ.com.
About CMC Microsystems
CMC Microsystems has been enabling advanced technology innovation in Canada for more than 40 years, managing federal and provincial investments to support research, accelerate commercialization, and strengthen Canada’s high‑tech ecosystem. With support from the Government of Canada, CMC leads FABrIC, a $217‑million initiative to build a vibrant and sustainable Canadian semiconductor ecosystem anchored by world‑class talent and global impact. www.cmc.ca | fabricinnovation.ca
IonQ Forward-Looking Statements
This news release contains forward-looking statements. All statements contained in this news release other than statements of historical fact are forward-looking statements, including statements regarding the anticipated benefits, scope, timing and outcomes of IonQ's collaboration with CMC Microsystems; IonQ's designation as a listed cloud quantum computing access provider for the FABrIC Quantum Computing Sandbox; the expected availability, capabilities, performance and deployment of IonQ's quantum computing systems, including through the Quantum Computing Sandbox; expectations regarding the adoption and use of quantum computing by Canadian academic institutions, researchers and small- and medium-sized enterprises; the expected funding, continuation, scope and objectives of the FABrIC program and the Quantum Computing Sandbox; the potential applications, advantages and commercial viability of quantum computing; and IonQ's business plans, strategy, market position and growth opportunities in Canada and globally. These statements are only predictions based on our expectations and projections about future events as of the date of this news release and are subject to a number of risks, uncertainties and assumptions that may prove incorrect, any of which could cause actual results to differ materially from those expressed or implied by such statements, including, among others, those described under the heading “Risk Factors” in our most recent filings with the Securities and Exchange Commission.
New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement we make. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made.
The memorandum of understanding described in this news release establishes a non-binding framework for collaboration. It does not obligate either party to enter into any definitive agreement, or to purchase, provide or deploy any products or services, and it may be terminated by either party. There can be no assurance that the memorandum of understanding will result in any definitive agreement, revenue, or any of the other benefits described in this news release.
Except as otherwise required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
IonQ dokončila akvizici SkyWater Technology za celkovou protihodnotu zhruba 1,8 miliardy USD, čímž získala vlastní polovodičovou slévárnu a kontrolu nad výrobní kapacitou pro kvantové čipy. Firma tvrdí, že tím urychlí svůj plán k fault-tolerant kvantovému počítači.
IonQ (IONQ +2.85%) completed its acquisition of SkyWater Technology at the end of July, handing over about $741 million in cash and roughly 24 million newly issued shares -- total consideration of about $1.8 billion. Against IonQ's market value of about $17.4 billion, that's roughly a tenth of the company spent on a single purchase.
And what it bought isn't a quantum computing company. SkyWater is a semiconductor foundry (a contract chip manufacturer) with plants in Minnesota, Florida, and Texas, and it produced about $442 million of revenue in 2025. That's nearly double the roughly $246 million IonQ itself generated over the past 12 months. The buyer, measured by sales, is the smaller business.
Why would a quantum computing company need to own a chip factory?
Image source: The Motley Fool.
The deal math
Under the terms of the deal, first announced in January and cleared by regulators in late July, SkyWater shareholders received $15.00 in cash plus 0.4883 IonQ shares for each of their shares. The roughly 24 million new IonQ shares amount to about 6% of the company's share count -- meaningful dilution, though to me not reckless for a purchase this central to the company's plans.
And the cash side was easy to cover, though the full bill ran past the headline number -- about $1.1 billion in all, counting roughly $315 million to retire SkyWater debt and pay deal costs. IonQ ended June with $3.0 billion of cash and investments, and it says about $2.0 billion remained after accounting for the acquisition.
The deal's currency matters as much as its size. IonQ paid mostly with stock that trades at a steep premium to any conventional measure of its business today. Using expensive shares to buy hard assets is arguably the most rational use of a richly valued stock, and that's essentially what happened here.
What SkyWater actually makes
SkyWater is a U.S.-based foundry that manufactures chips on mature, specialized processes rather than cutting-edge smartphone silicon. Its business splits between running production for customers and its advanced technology services arm, which develops custom manufacturing processes -- including for quantum companies. SkyWater ended 2025 with eight commercial engagements with quantum computing companies, and its quantum-related services revenue grew more than 30% for the year.
Of course, there's a caveat in SkyWater's own numbers. Revenue rose 29% in 2025, but most of that growth came from the company's purchase of a Texas fab from Infineon in mid-2025, which added $175 million of revenue in the second half.
Still, IonQ didn't buy a stranger. It bought one of the few factories in the country already practiced at making the exotic chips quantum computers require.
That matters because fabrication capacity for this kind of work is scarce. IonQ's machines depend on custom ion-trap chips, photonics, and packaging that mass-market foundries generally don't prioritize. Owning the line gives IonQ direct control of its manufacturing capacity and schedule.
What the roadmap gets
IonQ says the acquisition accelerates its fault-tolerant quantum computing roadmap. Specifically, the company expects quantum processors with 200,000 physical qubits, enabling more than 8,000 high-fidelity logical qubits (the error-corrected units that do useful computing work), to begin functional testing in 2028, and it says development of its 2,000,000-qubit chip moves forward by up to a year. Functional testing means chips working in a lab, to be clear, not commercial systems generating revenue.
"This transformational acquisition enables IonQ to materially accelerate its quantum computing roadmap and secure its fully scalable supply chain domestically," Chairman and CEO Niccolo de Masi said in the company's announcement of the deal.
Those are the company's own promises, and they sit years out. What's checkable today is the business underneath them.
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The tech company reported record second-quarter revenue of $80.1 million earlier this month, up 287% year over year, and raised its full-year revenue guidance to $280 million to $290 million. Commercial customers accounted for about 60% of the quarter's revenue, and management expects organic growth (excluding what acquisitions add) of 100% for the year.
The company remains deeply unprofitable on a net income basis.
Sure, buying a foundry brings hundreds of millions of dollars of annual revenue in the door. But it also adds a lower-margin manufacturing business to a growth stock whose valuation is built on quantum breakthroughs, not contract chipmaking.
I think the deal makes IonQ a more serious company. Vertical integration buys control of a scarce input, and the price (about 6% dilution plus cash it could spare) is not outlandish for that. What the deal can't do is move up the date when quantum computing starts paying for all of this. That date is still years away.
I've been hearing whispers on social media that quantum computing is "the new artificial intelligence," and IonQ (IONQ -0.12%) is one of the names they're considering. Where the stock will be in five years depends less on this summer's rally and more on whether the company can turn today's momentum into a durable, scaled business while the quantum computing hype cycle plays out.
IonQ's August numbers are undeniably impressive. For Q2 2026, the company reported record GAAP revenue of $80.1 million, up 287% year over year and roughly 20% above the midpoint of its own guidance. That made it the strongest quarter in IonQ's history and its fifth straight period of record results, driven by global deployments of its Tempo quantum computers, strong cloud utilization, and broader platform usage. Remaining performance obligations jumped to about $485 million, up nearly 300% from a year ago, and management raised full‑year revenue guidance to $280 million to $290 million, with a goal of 100% organic growth in 2026.
Image source: Getty Images.
IonQ is just getting started At the same time, this is still an early‑stage business under the hood. IonQ posted a GAAP net loss of $1.87 billion in Q2, largely due to a non‑cash charge tied to remeasuring earn‑outs and contingent consideration from the SkyWater acquisition. Adjusted EBITDA stood at negative $120 million, even though cash, equivalents, and investments were a hefty $3.0 billion before the deal and roughly $2.0 billion pro forma. That mix -- rapid revenue growth, big backlog, but large losses and heavy investment -- is exactly what you'd expect from a company trying to build a new computing stack, but it also makes the stock inherently volatile.
What makes IonQ interesting in the "quantum is the new AI" narrative is how directly it ties the two together. CEO Niccolo de Masi has been explicit that the next race is not AI versus quantum, but AI plus quantum working together to accelerate discovery. IonQ's own research on "quantum fine‑tuning" shows that trapped‑ion hardware acting as an energy‑efficient layer on top of classical AI models, with a projected energy break‑even around 34 qubits, speaks directly to AI's power and cost problem.
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On the applications side, IonQ is pushing into quantum security, communications, and sensing -- from ClavisXG multiplexed key distribution to an on‑orbit optical communications network and a TN quantum memory testbed -- while DARPA is tapping it for next‑generation atomic clocks.
Five-year considerations The five‑year question is whether all this turns into a business that looks more like today's AI leaders or more like a perpetual "science project." In my view, the most realistic expectation is somewhere in the middle. If IonQ keeps doubling revenue and expanding its platform, it could be a much larger, more diverse quantum services company by 2031, with production workloads in optimization, materials, and security.
But the stock will likely remain sensitive to delays in fault‑tolerant hardware, competition from larger players, and the inevitable shake‑out when some "quantum is the new AI" promises prove premature.
IONQ ve 2. čtvrtletí těžil z mezinárodních zákazníků a neamerických vládních klientů; multiproduktové výnosy vzrostly meziročně o 40 % a tvořily téměř 25 % tržeb. RPO vzrostly na 485 milionů USD z 470 milionů USD v předchozím čtvrtletí a 122 milionů USD před rokem.
Key Takeaways IONQ saw strong Q2 revenues from international customers and non-U.S. government clients.IONQ's multiproduct sales grew 40% year over year, nearing 25% of quarterly revenues.IONQ ended Q2 with $485 million in RPOs, up from $470 million sequentially and $122 million a year ago. IONQ (IONQ - Free Report) reported encouraging revenue trends across key drivers in the second quarter of 2026. Roughly half of the revenues came from international customers, spanning countries such as Australia, South Korea, Portugal, India, Denmark, Germany, Israel and Japan,
This quarter was especially strong for the international metric due to the quantum computing deployments. IONQ began shipments of subsystems to the Korea Institute of Science and Technology Information, or KISTI, and with QuantumBasel in Switzerland, its fifth-generation machine is in final assembly, alongside the fourth-generation machine previously purchased by the customer. The company now has solutions in more than 50 countries, with inbound interest coming from an even broader set of markets.
Commercial revenues remained strong as non-U.S. government customers generated 60% of second-quarter revenues, reflecting the real-world applications of IONQ’s quantum technologies.
Another revenue driver was multiproduct sales, which grew 40% year over year and comprise nearly 25% of quarterly revenues. IONQ remains encouraged by this opportunity, particularly through selling quantum computing and quantum security together. Management said demand for both offerings is high, creating further room to drive cross-selling.
Forward revenue visibility also improved, with IONQ ending the second quarter with $485 million in remaining performance obligations (RPOs). The figure increased from $470 million on a sequential basis and $122 million a year ago, providing one more indication of the company’s growing revenue pipeline.
IONQ’s Peer UpdatesD-Wave Quantum (QBTS - Free Report) posted $3.1 million in revenues in the second quarter of 2026, essentially flat yearover year.The company recognized revenues from approximately 100 customers, with commercial enterprises accounting for roughly 62.4% of revenues, up from 45.1% a year earlier.D-Wave’s QCaaS subscription revenues jumped 50% year over year to $1.9 million, while professional services revenues grew more than 18% to roughly $900,000. Systems and other revenues were $300,000, largely from installation and site preparation related to the $20 million Florida Atlantic University sale.
Rigetti (RGTI - Free Report) reported second-quarter 2026 revenues of $5.1 million, up from $1.8 million a year ago. The year-over-year increase was driven by on-premises Novera QPU sales, reflecting recognition of previously announced Novera purchase orders. Across Europe and Asia, RGTI is seeing a growing number of coordinated quantum initiatives. While commercial revenues remain early, engagement is increasing across industries such as materials, logistics and financial services as businesses explore hybrid and quantum-inspired workloads.
IONQ Stock Performance, Valuation and EstimatesYear to date, IonQ shares have dropped 0.9% compared to the industry’s 97.9% surge.
Image Source: Zacks Investment Research
IONQ is trading at a forward 12-month price-to-earnings (P/E) of 45.89X compared with the 5.21X industry average. The stock carries a Value Score of F at present.
Image Source: Zacks Investment Research
Take a look at how estimates for the company’s earnings have been shaping up.
Image Source: Zacks Investment Research
IONQ stock currently carries a Zacks Rank #3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
IonQ oznámila ve 2. čtvrtletí výnosy 80,1 milionu USD, meziročně o 287 % více, a zvýšila celoroční výhled na 280 až 290 milionů USD. Management uvedl, že jde o nejsilnější čtvrtletí v historii firmy.
Quantum Earnings Week: Winners and Losers Are Finally EmergingIonQ NYSE: IONQ reported second-quarter 2026 revenue of $80.1 million, up 287% from a year earlier, as the quantum computing company cited demand for its fifth-generation systems and broader momentum across computing, networking, security, sensing and space-related products.
Chairman and Chief Executive Officer Niccolo de Masi said the result marked IonQ’s strongest quarter to date and its fifth consecutive quarter of record results. Chief Operating Officer and Chief Financial Officer Inder Singh said revenue exceeded the company’s own expectations by 20%.
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IonQ Sparks a Quantum Grid RevolutionThe company raised its full-year revenue outlook for IonQ on a standalone basis to $280 million to $290 million. The guidance does not include the financial results of SkyWater Technology, which IonQ acquired last week for $1.8 billion. Management said it needs more time to integrate operations and account for intercompany revenue and other transaction-related adjustments before issuing combined-company guidance.
Deployments and revenue mix Singh said the primary contributor to the quarter’s outperformance was deployment activity for IonQ’s fifth-generation quantum computing systems. The company began shipping subsystems to the Korea Institute of Science and Technology Information, or KISTI, with equipment being delivered and assembled at the customer site in South Korea.
Quantum Earnings Could Decide Whether the Sector’s Sell-Off Has Gone Too FarIonQ also said its fifth-generation system is in final assembly at QuantumBasel in Switzerland, alongside a previously purchased fourth-generation system. Singh described the installation as what the company believes is the first commercial deployment of two successive generations of quantum computers at the same customer site.
Organic revenue grew 132% year over year in the second quarter, according to Singh. IonQ continued to expect approximately 100% organic revenue growth for the full year.
About 50% of quarterly revenue came from international customers, including customers in Australia, South Korea, Portugal, India, Denmark, Germany, Israel and Japan. Commercial customers, defined as non-U.S. government customers, represented about 60% of revenue. Sales involving more than one product grew 40% year over year and accounted for roughly 25% of quarterly revenue. Remaining performance obligations totaled $485 million at quarter-end, compared with $470 million in the first quarter and $122 million a year earlier. Singh said IonQ is pursuing cross-selling opportunities, particularly combinations of quantum computing and quantum security products. He also pointed to quantum computing as a service and software and algorithm-development work as components of the company’s offering.
SkyWater acquisition and semiconductor roadmap IonQ completed its acquisition of SkyWater last week, adding semiconductor fabrication capabilities to its platform. De Masi said the combination gives the company onshore design, fabrication, packaging and deployment capabilities at trusted U.S. facilities.
The company is transitioning its trapped-ion quantum computing architecture from laser-based control to electronic qubit control, technology it obtained through its acquisition of Oxford Ionics. De Masi said the approach is intended to use semiconductor manufacturing processes to scale systems toward millions of qubits.
During the quarter, IonQ received its first fully featured and integrated quantum processing units from SkyWater. The chips are undergoing testing at IonQ’s College Park facility. De Masi said the prototypes consolidate capabilities tested in earlier prototypes and will allow the company to begin evaluating integrated systems.
IonQ plans to begin commissioning systems based on its 256-qubit technology in 2027. The company said it is also advancing designs for a 10,000-qubit chip. De Masi said the company expects to begin manufacturing-line preparations, system deployment and customer commissioning in the first half of next year.
Management also highlighted IonQ’s “walking cat” architecture, which it released in April as a manufacturable blueprint for a fault-tolerant quantum computer. During the quarter, IonQ said it demonstrated breakeven quantum error correction using QLDPC codes on a temporal engineering test system.
Although SkyWater will support IonQ’s own hardware roadmap, de Masi said the foundry will continue operating as a merchant supplier to the broader quantum industry. He said IonQ intends to maintain intellectual-property protections for foundry customers across quantum modalities, including superconducting, photonic, ion and atom-based systems.
IonQ also discussed its acquisition of Nexus Photonics, a University of California, Santa Barbara spinoff whose technology supports chip-scale integration of lasers, modulators and optical subsystems. The company said it has started integrating those capabilities into next-generation atomic clocks and gravimeters and plans to offer quantum photonics foundry services through SkyWater.
Expenses, loss and quantum-security initiatives GAAP operating expenses were $417.3 million in the quarter, while non-GAAP operating expenses were $201.2 million. Research and development accounted for $160.6 million of GAAP operating expenses.
Adjusted EBITDA was negative $120.3 million. Singh said the figure included approximately $20 million in additional SkyWater-related spending as IonQ accelerated its technology roadmap, including about $10 million associated with pre-integration costs, business scaling and supply-chain efforts.
IonQ reported a GAAP net loss of $1.9 billion, primarily driven by a roughly $1.6 billion non-cash mark-to-market impact from warrant valuations. Singh said the warrant-related accounting impact did not reflect the company’s operating fundamentals.
On security, de Masi said IonQ launched a quantum key distribution product designed to allow customers to transmit multiple data types over existing municipal fiber networks. The company said its security strategy combines post-quantum cryptography with quantum communications technologies such as QKD.
Management said it is seeing increased customer discussion around quantum-related cybersecurity risks following U.S. quantum executive orders issued in June. Singh said conversations are expanding beyond computing use cases to include network vulnerability assessments and security planning for a post-quantum environment.
IonQ said it will provide updates across its quantum platform at an Investor Day scheduled for Sept. 8 at the New York Stock Exchange.
About IonQ (NYSE:IONQ)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.
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Should You Invest $1,000 in IonQ Right Now?Before you consider IonQ, you'll want to hear this.
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IonQ v červenci klesla o 31,6 % kvůli slabšímu sentimentu u rizikových titulů a prodejům insiderů. V srpnu se akcie po výsledcích zotavily, když výnosy ve 2. čtvrtletí vzrostly na 80 milionů USD.
Shares of IonQ (IONQ +10.75%) crashed 31.6% in July before rebounding in August, according to data from S&P Global Market Intelligence. Quantum stocks crashed along with the artificial intelligence (AI) trade last month, and IonQ was no exception.
The quantum computing upstart reported its earnings in early August, and the stock is reacting well to the news. Still, shares are down 47% from all-time highs set in late 2025. Here's why IonQ stock fell in July, and whether you should buy shares today.
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Quantum growth troubles Last year, quantum computing stocks became the talk of the stock market. IonQ -- a leading pure-play developer of quantum technologies -- is a stock that led the charge in this rally, rising from under $10 to $80 within a year, driven by executive orders and Wall Street price target increases.
Today, shares have fallen to $43. Nothing has changed about the business, which is still in the early start-up phase as it works to improve its quantum computing technologies. In July, the stock slipped amid strong insider selling and waning enthusiasm for high-risk stocks.
IonQ reported Q2 earnings in early August, reporting strong revenue growth but heavy losses for its quantum computing technology. Again, this technology is still in its very early days, with struggles to make it work properly for commercialization. Revenue grew to $80 million last quarter, but the company reported an operating loss of $337 million.
Image source: Getty Images.
Should you buy IonQ stock on a rebound? IonQ has sought to capitalize on its rising share price to raise capital and now has $3 billion in cash and equivalents on its balance sheet. This has come at the expense of its outstanding shares, which have nearly doubled over the last three years, a headwind to per-share value creation.
This is a lot of capital to keep investing in quantum computing research, but it only gives IonQ a few years of runway at its current burn rate of $570 million in free cash flow, a figure that keeps getting worse every quarter despite scaling revenue.
Even if IonQ can start generating true profits from its quantum computing technology -- something that is many years away -- shares trade at a high price right now. It has a market cap of $17 billion vs. guidance for $285 million in revenue this year, or a forward price-to-sales ratio (P/S) of 61. That is not cheap, and should keep investors from investing in IonQ shares.
IonQ uvádí, že se zákazníci stále častěji ptají na ochranu dat před budoucími kvantovými útoky. Firma proto rozšiřuje kvantovou bezpečnost, včetně nového produktu QKD.
Customer conversations, management said, increasingly open not with what quantum computing can do, but with how to protect sensitive data once quantum machines can break today’s encryption. If that trend holds, quantum security could grow into a driver as significant as IonQ’s core computing business.
Chief Operating Officer and CFO Inder Singh noticed the change in discussions with enterprise customers and government agencies.
“A year ago it was about computing. Now it’s about computing,” Singh said. “But equally, how can you protect me from the inevitable?”
Security Becomes A Recurring Theme In Customer Meetings“Quantum security now enters into the discussion,” Singh said, adding that organizations increasingly want to understand not only how quantum computing can create new capabilities, but also how it could expose them to future cybersecurity threats.
Earlier in the call, Singh also noted that “more and more customers are talking about security,” suggesting demand is expanding beyond IonQ’s traditional quantum computing offerings.
Together, those comments point to a broader shift in how the company views its opportunity. Rather than simply selling quantum computing systems, IonQ increasingly sees an opportunity to help customers prepare for the security challenges that widespread quantum computing could eventually bring.
Preparing for a Post-Quantum WorldThe concern stems from the possibility that future quantum computers could become powerful enough to break many of today’s widely used encryption methods, which protect everything from financial transactions to government communications.
Although experts continue to debate when that point might arrive, IonQ executives said many organizations are no longer treating the issue as a distant research topic. Instead, they are beginning to plan for what the industry often calls a “post-quantum” world—a future in which existing cybersecurity tools may no longer provide adequate protection.
That changing mindset, management suggested, is creating demand not only for quantum computers, but also for technologies designed to secure data before that transition occurs.
IonQ Is Expanding Its Quantum Security BusinessAs part of that strategy, CEO Niccolo De Masi highlighted the company’s newest Quantum Key Distribution, or QKD, product.
“We launched a new QKD product… making enterprise-grade quantum security practical, deployable and cheaper to operate,” De Masi said.
Quantum Key Distribution is a communication technology that uses the principles of quantum physics to create encryption keys. Because any attempt to intercept those keys changes the underlying quantum signals, the technology can help detect eavesdropping, offering an additional layer of protection for sensitive communications.
Management also said recent White House executive orders focused on quantum technologies have increased engagement around quantum-safe security. Organizations are evaluating how to protect critical infrastructure before quantum computing becomes powerful enough to threaten existing encryption.
For investors, the takeaway extends beyond IonQ’s quantum computing roadmap. The company still generates most of its business from quantum computing, but management’s comments suggest it increasingly sees quantum security as a complementary growth engine.
If customers continue shifting from asking what quantum computers can do to asking how to defend against them, cybersecurity could become one of IonQ’s most important long-term opportunities.
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IonQ získala prodloužení kontraktu DARPA v hodnotě 28 milionů USD na výrobu atomových hodin Evergreen-05. Má dodat 125 kusů pro zákazníky americké vlády.
COLLEGE PARK, Md.--(BUSINESS WIRE)--IonQ (NYSE: IONQ) announced today that it has been awarded a $28 million contract extension through the Defense Advanced Research Projects Agency (DARPA) It’s About Time program. Under the program, IonQ will advance its scalable clock production capabilities for its Evergreen-05 optical atomic clocks and deliver 125 units to U.S. government customers. The clocks are designed for mission-critical applications including radar, secure communications, and precision geolocation.
Evergreen-05 Atomic Clock Performance
Originally developed under DARPA’s Robust Optical Clock Network program, IonQ’s Evergreen-05 is a compact, fully integrated optical atomic clock with a 5-liter, shoe box-sized form factor. It delivers timing stability of 50 femtoseconds at one second and nanosecond holdover over 10 days–projecting to a timing error of less than one second over 30 million years.
Compared with active hydrogen masers, Evergreen-05 delivers superior phase noise and short-term stability with comparable long-term drift. The clock provides this performance in 1/75th of the volume of an active hydrogen maser. Its tactical package and broader environmental operating range extend IonQ’s existing clock technology across land, maritime, and airborne platforms. Program Background
DARPA’s support for the core Evergreen-05 technology began in 2019, when it funded an initial effort for Vector Atomic, then a year-old startup in Pleasanton, California. IonQ acquired Vector Atomic in October 2025 to expand its capabilities into quantum position, navigation, and timing.
Executive Perspective
“We added Vector Atomic to the IonQ family because their clocks and sensors are the best in the world,” said IonQ Chairman and CEO Niccolo de Masi. “DARPA’s investment under the It's About Time program confirms that we made the right choice.”
“DARPA has been a partner every step of the way. That initial support was critical to prove the core concepts of our clock,” said Marty Boyd, director of IonQ’s timekeeping division and co-founder of Vector Atomic. “We joined IonQ to accelerate and scale up delivery of our commercial products, and DARPA's continued support gives us the opportunity to do that.”
Production Investment
To support Evergreen-05 delivery, IonQ will invest $15 million in dedicated production space, advanced manufacturing and test equipment, and support staff.
About IonQ
IonQ, Inc. [NYSE: IONQ] is the world’s leading quantum platform and foundry - delivering integrated quantum solutions across computing, networking, sensing, and security. IonQ’s newest generation of quantum computers, the IonQ Tempo, is the latest in a line of cutting-edge systems. Earlier systems have helped customers and partners including Amazon Web Services, AstraZeneca, and NVIDIA achieve a 20x performance increase over previous quantum solutions and accelerate innovation in drug discovery, materials science, financial modeling, logistics, cybersecurity, and defense. In 2025, the company achieved 99.99% two-qubit gate fidelity, setting a world record in quantum computing performance.
Headquartered in College Park, Maryland, IonQ has operations in California, Colorado, Massachusetts, Tennessee, Washington, Italy, South Korea, Sweden, Switzerland, Canada, and the United Kingdom. Our quantum computing services are available through all major cloud providers, while we also meet the needs of networking and sensing customers across land, sea, air, and space. IonQ is making quantum platforms more accessible and impactful than ever before. Learn more at IonQ.com.
Note to Investors Regarding Forward-Looking Statements
This press release contains forward-looking statements. All statements contained in this press release other than statements of historical fact are forward-looking statements, including statements regarding the anticipated scope, value, funding and benefits to IonQ of the contract extension under DARPA's It's About Time program; the expected timing, quantity and completion of deliveries of Evergreen-05 optical atomic clocks to U.S. government customers; the anticipated amount, timing and benefits of IonQ's planned investment in production space, manufacturing and test equipment, testing capabilities and support staff; IonQ's ability to scale and accelerate clock production; the expected performance, specifications, stability, holdover, form factor and environmental operating range of Evergreen-05, and its performance relative to alternative timing technologies; the anticipated applications, use cases and platforms for IonQ's clocks and sensors; the anticipated benefits to IonQ of its acquisition of Vector Atomic; and IonQ's business strategy, technology roadmap and future operations.. These statements are only predictions based on our expectations and projections about future events as of the date of this press release and are subject to a number of risks, uncertainties and assumptions that may prove incorrect, any of which could cause actual results to differ materially from those expressed or implied by such statements, including, among others, those described under the heading “Risk Factors” in our most recently filed Annual Reports on Form 10-K filed with the Securities and Exchange Commission. New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement we make. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. Except as otherwise required by law, we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
IonQ oznámila za 2. čtvrtletí tržby 80,05 milionu USD a upravenou ztrátu 33 centů na akcii, obojí nad odhady. Zároveň zvýšila výhled tržeb na fiskální rok 2026 na 280 až 290 milionů USD.
IonQ shares are moving after hours. What’s happening with IONQ stock? IonQ Key Q2 DetailsIonQ turned in second-quarter revenue of $80.05 million, beating analyst estimates of $49.74 million. The quantum computing company posted a second-quarter adjusted loss of 33 cents per share, beating estimates for a loss of 35 cents per share, according to Benzinga Pro.
Total revenue was up 287% on a year-over-year basis, driven by global deployments of IonQ Tempo quantum computers, strong cloud utilization and broad-based commercial momentum across the company’s quantum platform.
IonQ exited the quarter with approximately $3 billion in cash, cash equivalents and investments. The company noted that its cash position decreased to $2 billion after completing the SkyWater acquisition last month.
“I am pleased to report that IonQ delivered its fifth consecutive quarter of record results and the strongest quarter in our company’s history,” said Niccolo de Masi, CEO of IonQ.
“We enter the second half of the year confident in IonQ’s ability to execute our quantum platform roadmap, translate our technology leadership into durable commercial growth, and create long-term value for shareholders.”
IonQ raised its full-year 2026 revenue outlook from a range of $260 million to $270 million to a new range of $280 million to $290 million, versus estimates of $235.71 million.
IonQ’s management team will discuss the company’s quarterly results on an earnings call at 4:30 p.m. ET.
IONQ Shares Climb After The BellIonQ shares were up 0.93% after-hours on Wednesday, trading at $40.30 at the time of publication, according to Benzinga Pro.
Image: courtesy of IonQ.
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IonQ ve čtvrtletí zvýšil tržby o 755 % na 64,7 milionu USD, ale trh jej stále oceňuje na 13,35 miliardy USD, zhruba 50násobek jeho výhledu pro rok 2026.
IonQ (IONQ +1.87%) closed Thursday at $35.77, up almost 12% in a single session as quantum computing stocks rallied. Even after that jump, shares of the quantum computing specialist sit about 58% below their 52-week high of $84.64. And yet the company still carries a market capitalization of $13.35 billion.
So the stock manages to look beaten down and expensive at the same time. Here's a closer look at what has to go right for today's price to work out.
Image source: Getty Images.
Growth from a very small base Highlighting why the stock attracts so much attention, IonQ's first-quarter revenue rose 755% year over year to $64.7 million, coming in 30% above the midpoint of management's own guidance. Growth like that is nearly impossible to find elsewhere in the market, and I understand why investors are drawn to it.
The composition of the revenue is encouraging, too. About 60% of it came from commercial customers rather than governments, about 35% came from international customers, and more than a third came from customers buying across product lines -- quantum computers, networking, and sensing.
The order book is filling up even faster. Remaining performance obligations, or the future revenue IonQ already has under contract, reached $470 million in the quarter, up 554% year over year.
Management raised its full-year outlook, too. It now expects revenue of $260 million to $270 million in 2026, which it says represents organic growth of more than 100% year over year.
Meanwhile, the technology keeps advancing. During the quarter, IonQ sold its first 256-qubit, sixth-generation system to the University of Cambridge, completed the first commercial demonstration of two connected quantum computers, and published its blueprint for fault-tolerant quantum computing. The company also picked up a $39 million Space Development Agency contract during the period.
"We are now moving from component-level testing to integrated, system-level testing of the full 256-qubit quantum computer," said Chairman and CEO Niccolo de Masi in the company's first-quarter earnings release.
What the price already assumes Profits are another matter. IonQ technically reported first-quarter net income of $805.4 million under generally accepted accounting principles (GAAP), but that figure was swollen by non-cash fair-value adjustments on items like warrant liabilities and investments, not by the business itself. On an adjusted basis, the company lost $0.34 per share, and its adjusted EBITDA was a $96.8 million loss. For the full year, management expects an adjusted EBITDA loss of $310 million to $330 million. The balance sheet buys plenty of time, though. IonQ ended March with $3.1 billion in cash, equivalents, and investments, enough to fund losses at this year's expected pace for several years.
Valuation is the harder problem: At $13.35 billion, the market values IonQ at roughly 50 times the midpoint of its own 2026 revenue guidance. A price like that only works if triple-digit growth continues well beyond this year.
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After all, even a far lower multiple demands enormous expansion. To trade at 10 times sales at today's market value, IonQ would need about $1.3 billion of annual revenue -- about five times the midpoint of this year's guide. Reaching that by the end of 2029 would require compounding at close to 70% a year for three more years.
However, the guidance implies the growth is already decelerating beneath the annual figure. IonQ expects revenue of $65 million to $68 million in the second quarter of 2026, roughly flat with the first quarter. And hitting the full-year range implies quarterly revenue stays near that level for the rest of 2026. In other words, this year's extraordinary growth rate is mostly a comparison against a much smaller past, not a business that is still compounding quarter by quarter.
So, is IonQ worth $13 billion today? I don't have anywhere near the conviction to pay it. The growth is impressive, and the $3.1 billion war chest gives the company years of staying power. But quantum computing remains an early market whose commercial payoff may still be years away. And a 50-times-revenue price arguably assumes IonQ converts its head start into a long stretch of compounding sales.
If the company keeps topping its own guidance while losses hold near the planned pace (the second-quarter report due Wednesday, Aug. 5, is the first chance to show it), I could warm up to the stock. For now, I'll watch from the sidelines.
IonQ získala konečné regulační schválení akvizice SkyWater Technology, čímž získá plnou kontrolu nad dodavatelským řetězcem a vlastní továrnu na výrobu čipů. Firma zároveň zvýšila celoroční výhled tržeb na 260 až 270 milionů USD.
IonQ (IONQ +2.26%) just received final regulatory approval for one of its most important deals to date: the acquisition of SkyWater Technology. SkyWater is the largest exclusively U.S.-based semiconductor foundry and is recognized by the Department of Defense as a trusted foundry.
The deal gives IonQ full control of its supply chain. It now has a factory to manufacture its chips, eliminating the need to rely on outside suppliers. In light of this acquisition, it's a good time to consider where IonQ will be in a year.
Image source: The Motley Fool.
The numbers are trending up Financially, IonQ stands out among pure-play quantum computing companies. Revenue growth is accelerating, as IonQ reported sales of $64.7 million in the first quarter of 2026, a year-over-year increase of 755%. Its remaining performance obligations, meaning future contracted revenue not yet recorded on an income statement, hit a record $470 million. The results were good enough for IonQ to raise full-year revenue guidance to between $260 million and $270 million.
That's a stark difference from IonQ's main competitors: D-Wave Quantum, Rigetti Computing, and Quantum Computing. They all had revenue of less than $5 million in their most recent reported quarters. Multiple companies are dedicated to quantum computing systems, but only IonQ has achieved commercial success to date.
IonQ also has a solid balance sheet, with $3.1 billion in cash, cash equivalents, and investments. With plenty of cash reserves, substantial revenue growth, and now a major acquisition, IonQ has a strong bull case over the next year.
The risk could impact IonQ's upside While there's a lot to like about IonQ, it's still a high-risk investment. It's burning cash: Operating cash flow was negative $151 million in the first quarter, and management is guiding for a full-year adjusted EBITDA loss of $310 million to $330 million. The cash reserves give it a long runway, but this is a company that has had to spend heavily to keep scaling.
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IonQ stock is also expensive, trading at 55 times trailing sales as of July 29. That's in the same range as Palantir Technologies, the poster child for expensive stocks, but well below its competitors. D-Wave and Rigetti both trade at over 400 times trailing sales, for comparison. Still, high valuations often lead to a correction, which has already been happening this year, with quantum computing companies and tech stocks trading at a premium.
Wall Street analysts expect IonQ to perform well over the next 12 months, but there's a wide range of forecasts, with a per-share low of $48.50 and a high of $100. The average is $69.31, which would represent over 100% upside at IonQ's current share price.
I think there's a good chance IonQ will continue to exceed revenue expectations and deliver positive results for shareholders. With that in mind, this could be an opportunity to buy the dip on one of the top quantum computing stocks. However, IonQ will likely remain volatile, so size any investments in it accordingly.
IonQ má podle článku náskok v technice i komerčním pokroku: v 1. čtvrtletí tržby vzrostly na 64,7 mil. USD a firma během 1. čtvrtletí 2026 prodala první 256qubitový systém a rozšířila prodej do více než 30 zemí.
Quantum computing has been a white-hot industry for investors, but who's actually winning the quantum computing race?
The answer depends on what you mean by "winning." If you're asking which company has made the most progress commercially, I think the answer is fairly straightforward: IonQ. But it's still early innings.
If you're asking who will build the first truly useful quantum computer, that's a much more interesting question, and the truth is, it's much too early to tell that just yet.
Let's take a look at both IonQ and Rigetti Computing.
Image source: Getty Images
IonQ is building a full-stack quantum platform IonQ (IONQ -3.61%) spent the last year transforming itself from a quantum computing developer into something more expansive. Company management now describes IonQ as a full-stack platform spanning computing, networking, sensing, and security.
Its underlying technology differs from many competitors, including Rigetti. IonQ builds trapped-ion quantum computers, a design generally associated with very high gate fidelity -- the accuracy of quantum operations -- but slower gate speeds than superconducting systems. The company reported a 2-qubit gate fidelity of 99.99% last year.
IonQ is also pushing aggressively into commercial deployment after a string of major acquisitions last year. During the first quarter of 2026, it sold the first of its newest 256-qubit system and expanded sales into more than 30 countries.
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Rigetti is betting on superconducting speed Rigetti Computing (RGTI -4.54%) builds superconducting quantum processors, the same general technology pursued by companies like IBM and Alphabet. These systems operate dramatically faster than trapped-ion machines, with gate speeds measured in tens of nanoseconds. But they also require extremely complex cryogenic cooling systems operating near absolute zero and generally struggle to deliver the same level of fidelity as IonQ's trapped-ion approach.
Rigetti finally launched its 108-qubit Cepheus-1-108Q processor and demonstrated a 2-qubit gate fidelity of 99.1%. CEO Subodh Kulkarni has said the company believes it can reach quantum advantage -- industry jargon for the point at which quantum computers outperform classical computers on commercially useful tasks -- in roughly three years if it reaches about 1,000 qubits while maintaining high fidelity and effective error mitigation.
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How do IonQ and Rigetti compare financially? IonQ generated $64.7 million in first-quarter revenue, a whopping 755% increase from a year earlier, while raising full-year guidance to between $260 million and $270 million. Its remaining performance obligations (RPO) -- contracted revenue that hasn't yet been recognized -- rose to a record $470 million. Perhaps most importantly, the company finished the quarter with roughly $3.1 billion in cash, cash equivalents, and investments.
To be sure, IonQ remains deeply unprofitable. Its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss guidance still calls for losses of more than $300 million this year. Management expects significant losses for the foreseeable future.
The company reported GAAP (generally accepted accounting principles) profit last quarter came almost entirely from a noncash accounting adjustment rather than operating earnings.
Rigetti operates on a different scale at the moment. The company generated just $4.4 million in first-quarter revenue while ending the quarter with $569 million in cash and no debt. Like IonQ, its reported GAAP profit resulted primarily from warrant accounting rather than its core business. Rigetti also continues to rely heavily on government development contracts while working toward larger hardware sales over time.
The quantum computing opportunity is massive -- but uncertain McKinsey estimates quantum computing could eventually create between $1.3 trillion and $2.7 trillion in economic value by 2035. That's a huge opportunity, yes, but investors need to take it with a grain of salt and keep a few things in mind beyond the fact that McKinsey's is one of the more generous estimates.
First, that is the total value produced across the global economy. It's not a sales target for quantum firms. According to the same report, the slice of the pie for the producers themselves -- such as Rigetti and IonQ -- is just $60 billion to $100 billion.
Second, no one can say with any certainty when -- or even if -- true quantum advantage will be achieved at scale. It is entirely possible that a mature, revolutionary version of this technology is decades away. There are plenty of scientific voices outside the industry that are skeptical of the timelines put forth by quantum insiders.
The bottom line At this point, I'd have to give the edge to IonQ, both in its technical abilities and its commercial success. That being said, I think excitement has outrun reality, and both companies are currently overvalued.
IonQ za měsíc spadl o 36,4 %, i když v 1. čtvrtletí 2026 tržby meziročně vzrostly o 755 % a firma zvýšila výhled tržeb na 260–270 milionů USD. Remaining performance obligations se rozšířily na 470 milionů USD.
Key Takeaways IonQ shares fell 36.4% in a month despite strong industry support and solid business fundamentals.IONQ posted 755% Q1 2026 revenue growth, raised 2026 guidance and expanded backlog to $470 million.IonQ's pullback is tied to macro pressures, with Q2 results seen as key to confirming execution. IonQ (IONQ - Free Report) shares have tumbled 36.4% over the past month, underperforming other pure-play quantum computing stocks, including Rigetti Computing (RGTI - Free Report) , down 32.3%, D-Wave Quantum (QBTS - Free Report) , down 28.9%, and Quantum Computing Inc. (QUBT - Free Report) , down 27.9%, despite the sector's favorable long-term outlook. The decline comes even as Washington intensified support for quantum technologies through executive orders, increased funding initiatives and a renewed focus on post-quantum cybersecurity. This shows a clear disconnection between industry fundamentals and investor sentiment.
IonQ: One-Month Price Comparison
Image Source: Zacks Investment Research
The sharp decline in IonQ's share price also raises an important question for investors does the recent correction present an attractive buying opportunity? Given IonQ's leadership among pure-play quantum companies in terms of revenue growth, commercial traction and financial strength, its lower share price warrants a closer look. Let's check whether the recent weakness reflects temporary market sentiment or signals a more fundamental concern.
Is IonQ's Recent Weakness a Buying Opportunity?IonQ's recent selloff appears to be driven more by market dynamics than by deteriorating fundamentals. In the first quarter of 2026, the company reported revenue growth of 755% year over year, exceeding the midpoint of its guidance by 30%. It has also raised its 2026 revenue outlook to $260-$270 million and expanded its remaining performance obligations to $470 million.
Despite this, the stock price dipped largely because a resilient U.S. labor market has led to the Federal Reserve's cautious approach toward interest-rate cuts, keeping bond yields elevated. This environment has prompted investors to trim exposure to high-multiple, long-duration growth stocks, with speculative technology names, including quantum computing companies, bearing the brunt of the rotation. The company also did not announce any major business developments over the past 30 days that could have supported the stock. This has limited buying interest ahead of the next earnings report.
That said, while near-term volatility may persist, the current pullback does not yet point to a weakening investment thesis. The key question is whether IonQ can sustain its commercial momentum through additional customer wins, successful integration of recent acquisitions and continued execution against its technology roadmap. If management delivers on these fronts in the coming quarters, the recent decline could ultimately prove to be a sentiment-driven correction rather than a reflection of weakening business fundamentals.
From a technical standpoint, IonQ's shares are now trading below both their 50-day and 200-day simple moving averages (SMA), reflecting weak near-term momentum even as the company's fundamentals remain intact.
50-and-200-Day SMAs
Image Source: Zacks Investment Research
IONQ Stock is Weak but the Fundamentals Remain StrongThe Zacks Consensus Estimate calls for sales to surge 105.7% in 2026 and another 50.3% in 2027, while losses are expected to narrow meaningfully over the next two years, as shown below.
Image Source: Zacks Investment Research
Our TakeGiven the company's solid execution and favorable long-term industry outlook, the recent pullback does not appear to justify aggressive profit booking at current levels. While near-term volatility may persist amid macroeconomic uncertainty and the absence of fresh business updates, IonQ's strong revenue trajectory, expanding backlog and improving commercial traction continue to support its long-term growth story. With the stock carrying a Zacks Rank #3 (Hold), existing investors may consider holding their positions and closely monitoring the upcoming second-quarter 2026 earnings release for further confirmation of execution before making any portfolio changes. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Společnost IonQ spustila Clavis XG Multiplex pro nasazení kvantového zabezpečení v metropolitních optických sítích. Zároveň uvedla InSAR pro milimetrově přesné sledování deformací zemského povrchu.
Key Takeaways IonQ launched Clavis XG Multiplex to make quantum security deployable across metro fiber networks. IONQ's Clavis XG Multiplex uses existing network infrastructure to reduce long-term cryptographic risk. IonQ launched InSAR capabilities for millimeter-precision ground deformation monitoring. IonQ (IONQ - Free Report) is strengthening its commercial portfolio beyond quantum computing by expanding into quantum cybersecurity and space-based geospatial intelligence. In line with this, the company introduced Clavis XG Multiplex, marking a new addition to its Clavis XG Quantum Key Distribution (“QKD”) portfolio designed to make quantum security deployable across metropolitan fiber networks.
Clavis XG Multiplex enables high-performance, physics-based key distribution on a customer’s existing network infrastructure without requiring operators to redesign, isolate or dedicate optical networks for quantum security. The result provides a cost-effective way to reduce long-term cryptographic risk across network segments as broader post-quantum cryptography (PQC) migration progresses across the enterprise.
IonQ also commercially launched Interferometric Synthetic Aperture Radar (InSAR) capabilities through its space missions line. The offering enables millimeter-precision ground deformation monitoring with fully automated tasking and data delivery. It enables customers to detect and track physical changes on the Earth's surface with a frequency and scale never previously offered by a commercial SAR provider.
Peer UpdateRigetti (RGTI - Free Report) recently announced the general availability of its 108-qubit quantum system, Cepheus-1-108Q, marking a significant step forward in its scaling roadmap. The system represents the company’s largest modular architecture to date, built using its proprietary chiplet-based design. Rigetti is demonstrating progress in scaling quantum hardware while maintaining performance benchmarks such as 99.1% median two-qubit gate fidelity and 99.9% single-qubit fidelity.
Quantum Computing Inc. (QUBT - Free Report) is steadily expanding its footprint in applied quantum technologies. The company secured a contract from the National Institute of Standards and Technology to develop thin-film lithium niobate photonic integrated circuits, highlighting its growing capabilities in advanced photonics. Additionally, QUBT won a subcontract linked to NASA Langley Research Center to develop quantum-based techniques for removing solar noise from space-based LiDAR data, reinforcing its role in next-generation aerospace innovation.
IONQ’s Price PerformanceOver the past year, IONQ’s shares have gained 8.6% compared with the industry’s 221.9% growth.
Image Source: Zacks Investment Research
Expensive ValuationIonQ currently trades at a forward 12-month price-to-sales (P/S) of 54.58X compared with the industry median of 4.45X.
Image Source: Zacks Investment Research
IONQ Stock Estimate TrendIn the past 30 days, its loss per share estimate for 2026 has moved south to $1.07.
Image Source: Zacks Investment Research
IonQ currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
IonQ uzavřel 1. čtvrtletí 2026 s asi 3,1 mld. USD v hotovosti, hotovostních ekvivalentech, omezené hotovosti a investicích a se závazky k plnění ve výši 470 mil. USD. Firma zároveň potvrdila odhad upravené ztráty EBITDA 310–330 mil. USD.
Key Takeaways IonQ ended Q1 2026 with about $3.1B in cash and investments, supporting multi-year investments. IONQ's remaining performance obligations rose to $470M, improving multi-quarter revenue visibility. IONQ reaffirmed a $310-$330M adjusted EBITDA loss outlook, backed by strong liquidity to fund plans. IonQ (IONQ - Free Report) exited the first quarter of 2026 with approximately $3.1 billion in cash, cash equivalents, restricted cash, and investments. This is one of the strongest balance sheets in the quantum computing industry. This substantial liquidity supports multi-year investment needs and reduces near-term financing risk.
A notable indicator of revenue visibility is the continued expansion of remaining performance obligations, which increased to $470 million (as of March 31, 2026) from $370 million at the end of 2025. While the timing of revenue recognition remains contingent on project execution and customer deployments, the expanding contracted backlog reduces reliance on an early-stage proposal pipeline and offers greater multi-quarter revenue visibility.
For 2026, management reaffirmed its adjusted EBITDA loss guidance of $310 million to $330 million. Coupled with a first-quarter adjusted EBITDA loss of $96.8 million, this implies continued elevated cash burn. Given IonQ's exceptionally strong liquidity position, the company appears well positioned to fund this investment cycle internally without facing meaningful near-term financing risk.
Peer UpdateQuantum Computing (QUBT - Free Report) or QCi ended the quarter with cash, cash equivalents and investments of about $1.4 billion, underscoring a substantial liquidity position despite the acquisitions of Luminar Semiconductor (“LSI”) and NuCrypt. QCi’s financial strength is further reflected in its total assets of about $1.6 billion and stockholders' equity of approximately $1.6 billion. Meanwhile, total liabilities accounted for $23.4 million, much lower than the cash level.
Rigetti (RGTI - Free Report) exited the first quarter of 2026 with cash, cash equivalents and short-term available-for-sale investments of $418.2 million. The company ended the quarter with no debt on its balance sheet, underscoring a solid solvency position. This means Rigetti has ample liquidity to fund its operations and roadmap execution without near-term financing pressure.
IONQ’s Price PerformanceOver the past year, IONQ’s shares have gained 32.8% compared with the industry’s 252.5% growth.
Image Source: Zacks Investment Research
Expensive ValuationIonQ currently trades at a forward 12-month price-to-sales (P/S) of 59.44X compared with the industry median of 4.45X.
Image Source: Zacks Investment Research
IONQ Stock Estimate TrendIn the past 30 days, its loss per share estimate for 2026 has remained unchanged at $2.26.
Image Source: Zacks Investment Research
IonQ currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
