Loading…
IonQ, Inc.
$3.1B
Market Cap
21.4
P/E
1.79
PEG
12.4%
ROCE
19.4%
ROE
1.40
D/E
8.7%
OPM
-55.1%
% from 52W High
22
α RS
🔍 IONQ is showing a high-conviction setup because it matches 3 of 39 tracked screener presets, Sector RRG has Technology in the Leading quadrant with the trail still strengthening, and an ECS of 80.4 last quarter. Net: Broad signal stack, not a recommendation. ? Conviction RRG ECS
Sources
Conviction 3/39 · Technology in Leading quadrant · ECS 80.4
⚖️ Compare 🔒 Generate Report 🔒 Research Packet 📚 Guides
🌏 Global Investor Returns
Currency-adjusted total returns for IONQ including FX impact
🌏
Click 🌏 Returns tab to load data
📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

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. In addition, it provides semiconductor manufacturing services. The company has a collaboration agreement with University of Chicago. The company was founded in 2015 and is headquartered in College Park, Maryland.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
Loading…
⭐ Superinvestors Holding IONQ
View All Superinvestors →
Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 415.6K $12.0M 0.02% Mar 2026
Jim Simons Renaissance Technologies LLC 137.6K $4.0M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔒
Premium Feature
AI-generated 10-section company profile — business model, financials, strengths, risks & management quality
Upgrade to Premium
Already a member? Log in
📐
3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
Open Model →
🎙 Management Tone Confident Specific → Stable 5 quarters Full tone analysis in Intelligence →
Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$80.1M
+287% YoY
Net Loss
-$1.87B; EPS -$5.08
n/m
Adjusted EBITDA
-$120.3M
n/m
RPO
$485M
+297% YoY
What Went Right
  • Record revenue of $80.1M, up 287% YoY and ~20% above the midpoint of guidance, marking the fifth consecutive record quarter.
  • RPOs reached $485M, up 297% YoY, and full-year 2026 revenue guidance was raised to $280-290M with 100% organic growth still expected.
  • Closed SkyWater and Nexus Photonics acquisitions and received first fully integrated QPUs from SkyWater, de-risking the path to 256-qubit system commissioning in 2027.
What to Watch
  • GAAP net loss of -$1.87B included a -$1.6B non-cash warrant mark-to-market; adjusted EBITDA loss widened to -$120.3M, including ~$20M of incremental SkyWater spend and ~$10M of pre-integration costs.
  • No combined-company guidance yet; roughly $120M of forecast SkyWater spending is now intercompany and must be eliminated, with purchase accounting adjustments still to be assessed.
  • Revenue mix can be lumpy — Q2 was ~50% international and ~60% commercial — and management cautioned not to extrapolate a straight line from any single quarter.
Management Guidance
  • Full-year 2026 revenue guidance raised to $280M-$290M for IonQ standalone.
  • Continues to expect approximately 100% organic revenue growth for full-year 2026.
  • Combined-company revenue and EBITDA guidance deferred until post-integration; Analyst Day scheduled for September 8.
Investor Lens
The investment thesis is stronger after this call: IonQ delivered a record quarter, raised full-year guidance, closed the transformative SkyWater acquisition, and showed tangible hardware progress with fully integrated QPUs back from the foundry. The 287% revenue growth and $485M RPO provide strong near-term visibility, while vertical integration should structurally reduce cost per qubit over time. The main offset is continued heavy cash burn and the complexity of integrating SkyWater, but management appears to be executing faster than expected.
From investor presentation · AI-generated analysis · Not investment advice
🔒
Premium Feature
Investor Presentation One-Pager — quarterly highlights, what went right/wrong & management guidance
Upgrade to Premium
Already a member? Log in
📈 STRONG Record Q2: revenue $80.1M, +287% YoY; full-year guide raised to $290M top
Revenue
Revenue was $80.1M, up 287% YoY and ~20% above the midpoint of guidance. Organic revenue grew 132% YoY, with ~50% international, ~60% commercial and ~25% multi-product revenue; RPOs rose to $485M from $122M a year ago.
Profitability
GAAP net loss was -$1.87B, or -$5.08 per share, driven primarily by a -$1.6B non-cash warrant mark-to-market. Adjusted EPS was -$0.33, and adjusted EBITDA loss was -$120.3M.
Margins
Operating margin was not explicitly disclosed; GAAP operating expenses totaled $417.3M, including $160.6M of R&D. Adjusted EBITDA loss absorbed ~$20M of higher SkyWater-related spend and ~$10M of pre-integration costs, and would have been -$95.6M excluding SkyWater spend.
Balance Sheet
Cash, cash equivalents and investments were $3.0B at June 30, 2026, or $2.0B pro-forma for the cash used to close SkyWater. No debt, capex or free cash flow figures were discussed on the call.
Key Risks
Management flagged GAAP volatility from warrant mark-to-market accounting and the need to eliminate ~$120M of SkyWater intercompany revenue. They also noted revenue mix can vary by quarter, and combined-company guidance is deferred until integration work is completed.
Outlook
IonQ raised full-year 2026 revenue guidance to $280M-$290M and reiterated 100% organic growth for the year. Combined-company guidance will be provided later, with an Analyst Day scheduled for September 8.
Generated by AI · Q2 2026 results · Not investment advice
🔒
Free Account Required

Create a free Finmagine account to access Finmagine™ Scorecard.

See how this company scores across 5 dimensions — Financial Health, Growth Prospects, Competitive Position, Management Quality, and Valuation — powered by 30+ computed ratios.

Create Free AccountLog In
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Ask AI.

Get 25 expert AI analysis templates — Business KPIs, Comprehensive, Forensic Governance, Peer Comparison, Risk-Reward, Full Research Report, IPO Decoder, Red Flag Detector, and more — ready to paste into ChatGPT, Claude, Gemini, or Perplexity.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Peer Comparison.

Compare this company side-by-side against its sector peers with financial metrics, ratio benchmarking, and relative performance across all key dimensions.

Upgrade to PremiumCreate Free Account
✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
🔍
🔎 See cross-company document search → ?
📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Record Q2 revenue of $80.1M (287% YoY growth) driven by global quantum deployments and multi-product sales. Closed SkyWater acquisition, accelerating the quantum roadmap and expanding merchant supplier capabilities. Raised full-year guidance to $280–$290M.
Q1 2026 Q1 2026 2026-05-06
Record Q1 2026 revenue grew 755% year-over-year, driven by strong commercial and international demand, with raised full-year guidance and significant progress in quantum computing, networking, and security. RPOs surged 554% to $470 million, and liquidity remains robust.
Q4 2025 Q4 2025 2026-02-25
2025 marked a transformative year with revenue tripling to $130M and major technical milestones achieved, including 99.99% gate fidelity and global expansion. 2026 guidance projects $225–$245M revenue, continued R&D investment, and a 256-qubit system launch.
Q3 2025 Q3 2025 2025-11-05
Q3 2025 saw record revenue growth of 222% year-over-year, major technical milestones, and successful acquisitions, with a strengthened balance sheet and raised full-year guidance. The company is expanding globally and across quantum computing, networking, sensing, and cybersecurity.
Q2 2025 Q2 2025 2025-08-06
Q2 2025 saw a 15% revenue beat, a $1B capital raise, and major global partnerships. Heavy R&D and acquisition investments widened losses, but IonQ raised full-year guidance and remains the best-capitalized quantum provider, with a robust roadmap and talent influx.
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Catalyst Timeline.

Every result, order win, insider trade, ECS update, earnings-call, and SEC announcement for this company — in one chronological lane.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Full Report.

Read the complete Finmagine™ investment research report — comprehensive fundamental analysis, business model assessment, competitive positioning, and investment recommendation.

Upgrade to PremiumCreate Free Account

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯
Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.
📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.