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Overview
IonQ sells quantum computing through cloud access and on-site systems that use trapped-ion qubits. Its processors, such as Forte and Tempo, are accessed by customers via cloud platforms or deployed on customer sites, and the company is expanding into quantum networking, quantum key distribution, and sensing through acquisitions and a SkyWater Technology deal. It differentiates itself with trapped-ion technology and by building a broader quantum ecosystem through strategic acquisitions and partnerships to connect devices and services beyond hardware alone. Its goal is to scale commercial quantum computing, grow revenue, and strengthen its cash position to support ongoing expansion and ecosystem development.
About IonQ
Industries
Hardware
Cybersecurity
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
College Park, Maryland
Founded
2015
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Simplify's Take
What believers are saying
- Q2 2026 revenue rose 287% to $80.1 million, beating internal expectations.
- Remaining performance obligations reached $485 million in August 2026, extending revenue visibility.
- DARPA’s $58 million atomic-clock award and 125-unit demand expand near-term defense revenue.
What critics are saying
- Wolfpack Research alleged February 4, 2026 Pentagon funding misstatements, inviting litigation risk.
- Q2 2026 GAAP net loss hit $1.87 billion, driven by warrant revaluation noise.
- SkyWater integration and intercompany elimination complicate 2026 guidance, risking execution slippage into 2027.
What makes IonQ unique
- IonQ’s trapped-ion systems reached fifth consecutive record revenue quarter on August 5, 2026.
- SkyWater acquisition closed July 31, 2026, giving IonQ domestic semiconductor manufacturing capability.
- DARPA’s August 6, 2026 clock contract validates IonQ’s quantum sensing manufacturing platform.
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Funding
Total Funding
$4.2B
Above
Industry Average
Funded Over
9 Rounds
Benefits
Biweekly catered lunches
Parental leave
Health, vision, & dental insurance
Flexible time off
401(k) with 5% match
University facilities
Commuter benefits
Stock Price
Growth & Insights and Company News
6 month growth
↓ -7%1 year growth
↓ -8%2 year growth
↓ -10%IonQ has secured a $28 million contract modification from the Defense Advanced Research Projects Agency (DARPA) to develop optical atomic clocks, with an option for an additional $30 million. The Maryland-based quantum technology company will produce 25 Evergreen-05 optical atomic clocks initially, with the potential for 100 more units if the option is exercised. IonQ is investing $15 million in manufacturing infrastructure to support production. The clocks will be used for radar, secure communications, and geolocation where GPS access is compromised. The Evergreen-05 is a shoebox-sized device that accumulates less than one second of timing error over 30 million years. It delivers timing stability of 50 femtoseconds at one second in approximately 1/75th the volume of an active hydrogen maser. The technology is designed for terrestrial, sea, and airborne military platforms.
IonQ reported second-quarter 2026 revenue of $80.1 million, up 287% year over year, exceeding its own expectations by 20%. The quantum computing company raised its standalone full-year revenue outlook to $280 million–$290 million whilst maintaining expectations for roughly 100% organic growth. The company recently completed a $1.8 billion acquisition of SkyWater Technology, adding US-based semiconductor design, fabrication and packaging capabilities. IonQ is targeting commissioning of 256-qubit systems in 2027 and developing a path toward 10,000-qubit chips. The company reported a $1.9 billion GAAP net loss, largely due to a $1.6 billion non-cash warrant valuation impact. Adjusted EBITDA was negative $120.3 million.
IonQ reported first-quarter revenue of $64.7 million for the period ended March 2026, representing a 755% year-over-year increase. The quantum computing company achieved a gross margin of 24% and completed its acquisition of SkyWater Technology whilst introducing new earth monitoring capabilities. By comparison, Advanced Micro Devices generated $10.3 billion in revenue for the quarter ended March 2026, with a net income margin of 14%. The processor manufacturer entered a capacity agreement with Core Scientific and launched new processing hardware. The revenue comparison highlights the differing scales between the established artificial intelligence sector and emerging quantum computing industry. Whilst AMD demonstrates significantly larger absolute revenue figures, IonQ's triple-digit growth rate reflects the substantial expansion potential within quantum computing technology.
BigBear.ai and IonQ represent contrasting investment opportunities in the tech sector. BigBear.ai provides AI-driven decision intelligence solutions primarily to US federal agencies, focusing on logistics and cybersecurity challenges. In fiscal 2025, BigBear.ai reported revenue of $127.7 million, down 19.3% year-over-year, with a net loss of $293.9 million. The company maintains a current ratio of 1.8x and zero debt-to-equity ratio, though free cash flow was negative $42.5 million. IonQ develops trapped-ion quantum computing systems for applications in medicine, finance, and logistics, delivering services through cloud platforms including Amazon's. The company acquired SkyWater Technology in July 2026 to establish its own semiconductor foundry. Both companies face distinct challenges: BigBear.ai's heavy reliance on government contracts creates concentration risk, whilst IonQ pursues longer-term quantum computing opportunities.
IonQ and Rigetti Computing represent high-risk bets on quantum computing, each pursuing different technological approaches. IonQ uses trapped-ion technology whilst Rigetti employs superconducting processors. IonQ reported FY 2025 revenue of nearly $130 million, up 201.9% from $43.1 million in FY 2024. However, it posted a net loss of approximately $510.4 million. The company recently acquired SkyWater Technology to establish domestic semiconductor manufacturing capacity. Rigetti's FY 2025 revenue fell 34.3% to $7.1 million from $10.8 million the previous year. It recorded a net loss of roughly $216.2 million. The company expanded its collaboration in July 2026 to build TangleLab, a hybrid quantum-classical testbed. Both companies maintain zero debt and strong current ratios. IonQ's current ratio stands at 15.5x, whilst Rigetti's is 37.4x. Free cash flow remains negative for both: $299.6 million for IonQ and $77.2 million for Rigetti.
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About IonQ
Industries
Hardware
Cybersecurity
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
College Park, Maryland
Founded
2015
IonQ is Hiring for 90 Jobs on Simplify!
Find jobs on Simplify and start your career today