Companies /Technology

IonQ Inc

NYSE: IONQ Computer Hardware
$40.37
▲ $3.53 (+9.58%) today
Markets closed · 5:13pm ET

Q4 2025 Earnings

Reported Feb 25, 2026, 11:05am ET · SEC source
$-0.20
Beat +59.73%
EPS · est. $-0.50
$61.9M
Beat +53.47%
Revenue · est. $40.3M
−26.6%
Trailing market
IONQ vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+9%+18%+27%Feb 25Feb 26report 11:05am ETearnings−0.6%+20.5%
0+9%+18%+27%Feb 25Feb 26earnings−0.6%+20.5%
IONQ +20.5%S&P 500 −0.6%
0+9%+18%+27%Feb 25Feb 26report 11:05am ETearnings−1.2%+20.5%
0+9%+18%+27%Feb 25Feb 26earnings−1.2%+20.5%
IONQ +20.5%NASDAQ −1.2%
−9%0+9%+18%Feb 24Mar 5report 11:05am ETearnings−2.3%+1.3%
−9%0+9%+18%Feb 24Mar 5earnings−2.3%+1.3%
IONQ +1.3%S&P 500 −2.3%
−9%0+9%+18%Feb 24Mar 5report 11:05am ETearnings−1.9%+1.3%
−9%0+9%+18%Feb 24Mar 5earnings−1.9%+1.3%
IONQ +1.3%NASDAQ −1.9%
+21.70%
Day of report
−6.14%
Next session
−11.89%
One week
−34.96%
30 days

S&P 500 over the same 30 days: −8.32%.

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 $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 <a href="https://247wallst.com/investing/2026/02/26/ionq-is-growing-like-a-weed-but-bleeding-cash/">cash burn remains substantial</a>, 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

“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.”

IonQ CEO, on the earnings call

Forward Guidance & Outlook

For full year 2026, IonQ expects revenue between $225 million and $245 million (midpoint $235 million), with Q1 2026 revenue expected between $48 million and $51 million. The company anticipates a full-year 2026 Adjusted EBITDA loss of between ($330) million and ($310) million. Management expects organic growth to be even higher in 2026 than the nearly 80% organic growth achieved in 2025. The 2026 guidance does not reflect any impact from the pending SkyWater Technology acquisition, which is expected to close in Q2 or Q3 2026.

IONQ YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$300.0M$600.0M$11.7M$61.9MRevenue$131.5M$753.3MNet Income
$0$300.0M$600.0MRevenueNet Income

Figures from SEC filings and company reports. Not investment advice.