Loading…
IonQ, Inc. develops quantum computing systems in the United States, Switzerland, and Internationally. It sells access to quantum computers of various qubit capacities. The company also makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS), Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service. The company engages in quantum-safe communications and quantum detection systems. It provides contracts associated with the design, development, construction, and sale of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems. The company has a collaboration agreement with University of Chicago. The company was founded in 2015 and is headquartered in College Park, Maryland.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $130M | $-552M | $-510M | $-300M | -13.4% | 201.9% | 53.9% |
| 2024 | $43M | $-214M | $-332M | $-124M | -86.4% | 95.4% | 110.2% |
| 2023 | $22M | $-147M | $-158M | $-93M | -32.5% | 98.0% | 225.2% |
| 2022 | $11M | $-80M | $-49M | $-57M | -8.5% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 11.13 | 22.04 | 43.07 | 130.02 |
| Operating Revenue | - | 11.13 | 22.04 | 43.07 | 130.02 |
| Cost Of Revenue | - | 2.94 | 8.11 | 20.60 | 77.49 |
| Gross Profit | - | 8.19 | 13.93 | 22.48 | 52.53 |
| Operating Expense | - | 93.93 | 171.69 | 254.93 | 686.24 |
| Research And Development | - | 43.98 | 92.32 | 136.83 | 305.70 |
| Selling General And Administration | - | 44.35 | 68.99 | 99.45 | 298.53 |
| Total Expenses | - | 96.88 | 179.80 | 275.53 | 763.73 |
| Operating Income | - | -85.75 | -157.75 | -232.46 | -633.72 |
| Total Operating Income As Reported | - | -85.75 | -157.75 | -232.46 | -633.72 |
| EBITDA | - | -80.14 | -147.38 | -213.80 | -551.71 |
| Normalized EBITDA | - | -110.28 | -128.17 | -96.69 | -618.42 |
| EBIT | - | -85.75 | -157.75 | -232.46 | -633.72 |
| Interest Income | - | 7.09 | 19.32 | 18.25 | 56 |
| Net Interest Income | - | 7.09 | 19.32 | 18.25 | 10.28 |
| Other Non Operating Income Expenses | - | 0.01 | -0.08 | -0.28 | 0.03 |
| Other Income Expense | - | 30.14 | -19.29 | -117.38 | 66.74 |
| Interest Income Non Operating | - | 7.09 | 19.32 | 18.25 | 56 |
| Net Non Operating Interest Income Expense | - | 7.09 | 19.32 | 18.25 | 10.28 |
| Pretax Income | - | -48.51 | -157.72 | -331.59 | -556.69 |
| Tax Provision | - | 0 | 0.05 | 0.06 | -44.57 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 5.40 |
| Net Income Continuous Operations | - | -48.51 | -157.77 | -331.65 | -512.12 |
| Net Income From Continuing And Discontinued Operation | - | -48.51 | -157.77 | -331.65 | -510.38 |
| Net Income From Continuing Operation Net Minority Interest | - | -48.51 | -157.77 | -331.65 | -510.38 |
| Net Income | - | -48.51 | -157.77 | -331.65 | -510.38 |
| Net Income Common Stockholders | - | -48.51 | -157.77 | -331.65 | -510.38 |
| Net Income Including Noncontrolling Interests | - | -48.51 | -157.77 | -331.65 | -512.12 |
| Normalized Income | - | -78.65 | -138.56 | -214.54 | -571.68 |
| Diluted NI Availto Com Stockholders | - | -48.51 | -157.77 | -331.65 | -510.38 |
| Basic Average Shares | - | 197.73 | 202.58 | 213.03 | 280.35 |
| Diluted Average Shares | - | 197.73 | 202.58 | 213.03 | 280.35 |
| Reconciled Depreciation | - | 5.60 | 10.38 | 18.65 | 82 |
| Reconciled Cost Of Revenue | - | 2.94 | 8.11 | 20.60 | 77.49 |
| Total Unusual Items | - | 30.14 | -19.21 | -117.11 | 66.71 |
| Total Unusual Items Excluding Goodwill | - | 30.14 | -19.21 | -117.11 | 66.71 |
| Minority Interests | - | - | 0 | 0 | 1.74 |
| Special Income Charges | -4.26 | 0 | - | - | - |
| Restructuring And Mergern Acquisition | 4.26 | 0 | - | - | - |
| Gain On Sale Of Security | - | 30.14 | -19.21 | -117.11 | 66.71 |
| Depreciation Amortization Depletion Income Statement | - | 5.60 | 10.38 | 18.65 | 82 |
| Depreciation And Amortization In Income Statement | - | 5.60 | 10.38 | 18.65 | 82 |
| General And Administrative Expense | - | 35.97 | 50.72 | 71.06 | 245.09 |
| Other Gand A | - | 35.97 | 50.72 | 71.06 | 245.09 |
| Total Other Finance Cost | 4.26 | - | - | - | 45.71 |
| Selling And Marketing Expense | - | 8.38 | 18.27 | 28.40 | 53.45 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| IonQ, Inc.this co. | IONQ | $24.5B | -48.02 | 6.45 | -13.4% | -42.61 |
| Fabrinet | FN | $25.6B | 77.02 | 12.92 | 16.8% | 60.40 |
| Nextpower Inc. | NXT | $22.9B | 39.05 | 9.80 | 25.1% | 29.35 |
| TTM Technologies, Inc. | TTMI | $19.2B | 108.18 | 10.89 | 10.1% | 48.96 |
| DigitalOcean Holdings, Inc. | DOCN | $18.8B | 72.66 | -656.60 |
| - |
| - |
| - |
| - |
| -903.7% |
| 55.75 |
| SiTime Corporation | SITM | $18.7B | -434.98 | 16.14 | -3.7% | -922.21 |
| Rambus Inc. | RMBS | $18.3B | 79.46 | 13.42 | 16.9% | 55.81 |
| Applied Optoelectronics, Inc. | AAOI | $16.3B | -425.88 | 22.18 | -5.2% | -1052.31 |
| Vicor Corporation | VICR | $14.0B | 117.69 | 19.61 | 16.7% | 132.12 |
| Peer Median | - | 74.84 | 13.17 | 13.4% | 52.36 | |