IonQ Jumps 8% as Raised Revenue Outlook Extends Quantum Rally; Rigetti Surges 8%, D-Wave Rises 6%
IonQ's blockbuster quarter has lit up every quantum stock, but part of its growth was bought rather than built. With Rigetti and D-Wave reporting next, can they show the orders that justify the run-up?
IonQ (NYSE:IONQ | IONQ Price Prediction) is turning a strong earnings report into a second straight day of gains for quantum computing stocks. In morning trading, IonQ stock is at $35.29, up 8%. That builds on a 23% jump on November 6, the first session after the report.
Major indexes are higher as investors return to AI and speculative tech shares after last week’s post-midterm selloff. Quantum Computing Inc. (NASDAQ:QUBT) stock is at $6.67, up 5%, as the smaller peer joins the move.
Behind IonQ’s rally are a record quarter and a higher outlook. Rigetti Computing (NASDAQ:RGTI) is climbing on IonQ’s news heading into its own earnings report. D-Wave Quantum (NASDAQ:QBTS) is in the same position.
IonQ Lifts Its 2026 Outlook After a Record Quarter
IonQ reported its Q3 2026 results after the close on November 5, posting revenue of $173.8 million, up 336% year over year. That result exceeded the consensus estimate of $141.2 million. Management at IonQ also raised its full-year 2026 revenue guidance to a range of $505 million to $515 million, up from $450 million to $460 million.
Chief operating officer and chief financial officer Inder Singh noted on the earnings call that IonQ expects to be the first pure-play quantum company to report half a billion dollars in revenue. Backlog at IonQ more than doubled to $1.2 billion.
Skeptics point out that SkyWater, the foundry IonQ bought in July, contributed $83.5 million of Q3 revenue, so part of the growth was acquired. Still, IonQ Platform segment revenue grew 127% to $90.3 million on its own.
Critics also point to dilution and cash burn at IonQ, which closed a $2 billion equity offering on October 16. The company’s adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at a loss of $133.6 million. Singh framed the raise as long-term capital, saying, “We’d like to make sure that we have the ability to keep investing without blinking.”
Rigetti and D-Wave Ride IonQ’s Momentum Into Their Own Reports
Rigetti is at $12.67, up 8%. The gain extends a 19% jump on November 6. After the close on November 10, Rigetti reports Q3 2026 results.
The company’s Q2 2026 revenue of $5.1 million leaves ground to cover against the full-year 2026 analyst estimate of $22.9 million. Much of that target rides on an $8.4 million system for India’s Centre for Development of Advanced Computing (C-DAC), which the company expects to recognize after installation and acceptance testing in Q4 2026.
D-Wave is at $11.33, up 6%. On November 6, D-Wave rose 18%. Before the open on November 10, the company reports Q3 results.
Its flat Q2 revenue of $3.1 million compares with the full-year 2026 analyst estimate of $42.7 million compiled by TIKR, though management has said Q4 should deliver most of the year’s revenue. Fresh orders of their own may be what Rigetti and D-Wave need to hold the gains.
How IonQ’s Trapped-Ion Model Stands Apart From Rigetti and D-Wave
IonQ builds trapped-ion quantum computers and, since buying SkyWater, makes its own chips in-house, a setup management describes as unique among public pure-play quantum companies. The company also sells networking, sensing and quantum-security products, which spreads its business beyond computing.
Rigetti takes a superconducting, gate-based approach that scales by linking smaller chiplets in an open, modular design. D-Wave leans on quantum annealing, where it’s the only commercial player, while building a gate-model roadmap through its Quantum Circuits acquisition. Quantum Computing Inc. runs room-temperature photonic systems that skip the deep cooling its rivals need.
Supply chains tie the group together, since Rigetti and D-Wave both extended multi-year manufacturing agreements with SkyWater. IonQ thus generates foundry revenue when its rivals build hardware.
What Rigetti and D-Wave Must Prove After IonQ’s Beat
D-Wave and Rigetti now face the question of whether their reports show fresh orders that can support the run-up. The bulls can cite IonQ’s record quarter and sold-out 2027 capacity for its Superion 256 systems as signs that quantum demand is real.
On the other hand, IonQ’s operating losses keep growing, and revenue at Rigetti and D-Wave still depends on the timing of individual system sales. Keeping your share exposure smaller might make sense until the Rigetti and D-Wave earnings test resolves.
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David Moadel is financial writer specializing in stocks, ETFs, options, precious metals, and Bitcoin. David has written well over 1,000 articles for leading online publications, helping investors understand markets, income strategies, and risk.His work has appeared in The Motley Fool, InvestorPlace, U.S. News & World Report, TipRanks, ValueWalk, Benzinga, Market Realist, TalkMarkets, Finmasters, 24/7 Wall St., and others.With a master’s degree in education, David has taught at the elementary, high school, and college levels. That teaching background shapes his writing style: clear, educational, and practical. David has also built a loyal social-media audience by providing trustworthy financial content on YouTube, X/Twitter, and StockTwits.
