Q4 25 EPS
$-0.20
Q4 25 Revenue
$61.9M
vs S&P Since Q4 25
+50.8%
BEATING MARKET
IONQ +57.8% vs S&P +7.0%
Full Year 2025 Results
FY 25 EPS
$-0.60
BEAT +88.34%
Est. $-5.15
FY 25 Revenue
$130.0M
BEAT +19.96%
Est. $108.4M
Market Reaction
Did IONQ Beat Earnings? Q4 2025 Results
IonQ made history in Q4 2025, becoming the first public quantum computing company to exceed $100 million in annual GAAP revenue, and it did so with considerable force. Quarterly revenue of $61.89 million arrived 53.73% ahead of consensus estimates of… Read more IonQ made history in Q4 2025, becoming the first public quantum computing company to exceed $100 million in annual GAAP revenue, and it did so with considerable force. Quarterly revenue of $61.89 million arrived 53.73% ahead of consensus estimates of $40.26 million and represented a staggering 428.5% year-over-year surge, powered largely by an expanded commercial contract with QuantumBasel exceeding $60 million over four years and the sale of a fifth-generation 100-qubit system to South Korea's KISTI. Adjusted EPS came in at ($0.20), while the company's full-year revenue of $130.02 million grew 202% year-over-year. The cash burn remains substantial, with full-year Adjusted EBITDA losses of ($186.75 million), and 2026 guidance calls for losses widening to between ($330 million) and ($310 million) as investment intensifies. Still, management guided full-year 2026 revenue of $225 million to $245 million, with a pending acquisition of SkyWater Technology expected to further expand IonQ's position across the quantum supply chain.
Key Takeaways
- • 429% year-over-year Q4 revenue growth and 202% full-year growth
- • More than 60% of 2025 revenue from commercial customers
- • International sales comprised more than 30% of revenue
- • Nearly 80% year-over-year organic growth in 2025
- • $949.6 million gain on change in fair value of warrant liabilities boosted Q4 GAAP net income
IONQ YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
“I am pleased to share that IonQ has once again significantly outperformed our revenue guidance range, exceeding the midpoint by 55% for the fourth quarter and 20% for the full year by delivering $61.9 million and $130.0 million respectively. Our strategic evolution into the world's only full-stack quantum platform company, and strong organic growth, positions us with continued momentum to achieve $235 million in revenue for 2026, at our current guidance midpoint.”
— Niccolo de Masi, Q4 2025 Earnings Press Release
IONQ Earnings Trends
IONQ vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
IONQ EPS Trend
Earnings per share: estimate vs actual
IONQ Revenue Trend
Quarterly revenue: estimate vs actual
IONQ Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $-0.34 | — | $64.7M | — |
| Q4 25 FY | — | $-0.20 | — | $61.9M | — |
| FY Full Year | $-5.15 | $-0.60 | +88.34% | $130.0M | +19.96% |
| Q3 25 BEAT | $-0.44 | $-0.17 | +61.36% | $39.9M | +47.73% |
| Q2 25 MISS | $-0.14 | $-0.70 | -400.00% | $20.7M | +20.12% |
| Q1 25 BEAT | $-0.15 | $-0.14 | +3.45% | $7.6M | +0.76% |