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IonQ (IONQ) Financials

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$63.52 -0.12 (-0.19%)
As of 03:58 PM Eastern
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Annual Income Statements for IonQ

Annual Income Statements for IonQ

This table shows IonQ's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -15 -106 -49 -158 -332 -510
Consolidated Net Income / (Loss)		 -15 -106 -49 -158 -332 -512
Net Income / (Loss) Continuing Operations		 -15 -106 -49 -158 -332 -512
Total Pre-Tax Income 		-15 -106 -49 -158 -332 -557
Total Operating Income		 -16 -39 -86 -158 -232 -634
Total Gross Profit		 0.00 2.10 11 14 22 130
Total Revenue		 0.00 2.10 11 22 43 130
Operating Revenue		 0.00 2.10 11 22 43 130
Total Cost of Revenue		 0.00 0.00 0.00 8.11 21 0.00
Total Operating Expenses		 16 41 97 172 255 764
Selling, General & Admin Expense		 3.55 14 36 51 71 245
Marketing Expense		 0.49 3.23 8.39 18 28 53
Research & Development Expense		 10 20 44 92 137 306
Depreciation Expense		 1.40 2.55 5.60 10 19 82
Other Operating Expenses / (Income)		 0.14 1.04 2.94 - - 77
Total Other Income / (Expense), net		 0.31 -67 37 0.03 -99 77
Interest Expense		 - -0.06 - -19 -18 -56
Other Income / (Expense), net		 0.31 -68 30 -19 -117 21
Income Tax Expense		 0.00 0.00 0.00 0.05 0.06 -45
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - 0.00 0.00 -1.74
Basic Earnings per Share		 ($0.13) ($0.77) ($0.25) ($0.78) ($1.56) ($1.82)
Weighted Average Basic Shares Outstanding		 115.05M 137.61M 197.73M 202.58M 213.03M 280.35M
Diluted Earnings per Share		 ($0.13) ($0.77) ($0.25) ($0.78) ($1.56) ($1.82)
Weighted Average Diluted Shares Outstanding		 115.05M 137.61M 197.73M 202.58M 213.03M 280.35M
Weighted Average Basic & Diluted Shares Outstanding		 115.05M 137.61M 201.55M 208.23M 222.84M 366.64M

Quarterly Income Statements for IonQ

This table shows IonQ's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -45 -42 -40 -38 -52 -202 -32 -177 -1,055 754 805
Consolidated Net Income / (Loss)		 -45 -42 -40 -38 -52 -202 -32 -178 -1,056 753 805
Net Income / (Loss) Continuing Operations		 -45 -42 -40 -38 -52 -202 -32 -178 -1,056 753 805
Total Pre-Tax Income 		-45 -42 -40 -38 -52 -202 -32 -193 -1,060 728 798
Total Operating Income		 -42 -54 -53 -49 -53 -78 -76 -161 -169 -229 -272
Total Gross Profit		 6.14 6.11 7.58 11 5.89 12 3.25 21 19 83 15
Total Revenue		 6.14 6.11 7.58 11 12 12 7.57 21 40 62 65
Operating Revenue		 6.14 6.11 7.58 11 12 12 7.57 21 40 62 65
Total Cost of Revenue		 0.00 - 0.00 0.00 6.52 - 4.32 0.00 21 -21 49
Operating Cost of Revenue		 - - - - 6.52 - 4.32 - 21 - 49
Total Operating Expenses		 48 61 60 60 59 89 79 181 187 312 287
Selling, General & Admin Expense		 14 15 14 13 14 30 24 48 83 91 89
Marketing Expense		 5.05 6.98 6.70 6.14 6.63 8.93 8.61 11 14 20 29
Research & Development Expense		 25 32 32 31 33 40 40 103 66 96 126
Depreciation Expense		 2.75 3.51 3.96 4.31 4.89 5.50 6.56 11 24 41 43
Total Other Income / (Expense), net		 -2.58 13 13 11 0.66 -124 43 -32 -891 957 1,070
Interest Expense		 - - - -4.80 -4.51 - -4.89 -7.14 -14 - -28
Other Income / (Expense), net		 -7.59 7.35 8.49 6.59 -3.85 -129 39 -39 -906 927 1,042
Income Tax Expense		 0.04 0.01 0.01 0.02 0.02 0.02 0.01 -15 -4.44 -25 -6.38
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - 0.00 0.00 - 0.00 -0.69 -0.66 - -0.75
Basic Earnings per Share		 ($0.22) ($0.20) ($0.19) ($0.18) ($0.24) ($0.95) ($0.14) ($0.70) ($3.58) $2.60 $2.19
Weighted Average Basic Shares Outstanding		 203.39M 202.58M 208.16M 211.64M 214.31M 213.03M 228.76M 250.97M 294.52M 280.35M 358.82M
Diluted Earnings per Share		 ($0.22) ($0.20) ($0.19) ($0.18) ($0.24) ($0.95) ($0.14) ($0.70) ($3.58) $2.60 $2.07
Weighted Average Diluted Shares Outstanding		 203.39M 202.58M 208.16M 211.64M 214.31M 213.03M 228.76M 250.97M 294.52M 280.35M 371.23M
Weighted Average Basic & Diluted Shares Outstanding		 204.70M 208.23M 211.45M 214.08M 216.39M 222.84M 247.78M 296.84M 354.28M 366.64M 373.27M

Annual Cash Flow Statements for IonQ

This table details how cash moves in and out of IonQ's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -23 363 -353 -8.29 19 981
Net Cash From Operating Activities		 -12 -27 -45 -79 -106 -283
Net Cash From Continuing Operating Activities		 -12 -27 -45 -79 -106 -283
Net Income / (Loss) Continuing Operations		 -15 -106 -49 -158 -332 -512
Consolidated Net Income / (Loss)		 -15 -106 -49 -158 -332 -512
Depreciation Expense		 1.40 2.55 5.60 10 19 82
Amortization Expense		 0.04 0.53 -1.58 -9.75 -8.80 -8.32
Non-Cash Adjustments To Reconcile Net Income		 1.30 77 2.28 91 229 309
Changes in Operating Assets and Liabilities, net		 0.68 -0.20 -2.50 -13 -13 -154
Net Cash From Investing Activities		 -12 -214 -309 69 83 -2,095
Net Cash From Continuing Investing Activities		 -12 -214 -309 69 83 -2,095
Purchase of Property, Plant & Equipment		 -11 -9.40 -12 -14 -18 -16
Acquisitions		 -0.51 -0.62 -1.90 0.00 -15 0.52
Purchase of Investments		 0.00 -204 -606 -298 -296 -2,758
Sale and/or Maturity of Investments		 - 0.00 310 387 418 683
Other Investing Activities, net		 - - - -5.85 -5.58 -4.22
Net Cash From Financing Activities		 0.28 603 1.10 1.76 42 3,359
Net Cash From Continuing Financing Activities		 0.28 603 1.10 1.76 42 3,359
Repayment of Debt		 - - 0.02 -0.23 0.24 7.88
Repurchase of Preferred Equity		 0.00 -0.97 0.00 0.00 0.00 0.00
Issuance of Common Equity		 - - - 0.00 0.00 3,313
Other Financing Activities, net		 0.28 604 1.08 1.99 41 38
Effect of Exchange Rate Changes		 - - 0.00 -0.00 0.03 0.58

Quarterly Cash Flow Statements for IonQ

This table details how cash moves in and out of IonQ's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 23 -1.47 24 -18 -12 24 106 -19 209 685 -536
Net Cash From Operating Activities		 -22 -27 -20 -27 -19 -39 -33 -53 -123 -75 -151
Net Cash From Continuing Operating Activities		 -22 -27 -20 -27 -19 -39 -33 -53 -123 -75 -151
Net Income / (Loss) Continuing Operations		 -45 -42 -40 -38 -52 -202 -32 -178 -1,056 753 805
Consolidated Net Income / (Loss)		 -45 -42 -40 -38 -52 -202 -32 -178 -1,056 753 805
Depreciation Expense		 2.75 3.51 3.96 4.31 4.89 5.50 6.56 11 24 41 43
Non-Cash Adjustments To Reconcile Net Income		 25 24 14 16 31 169 -5.83 139 959 -785 -921
Changes in Operating Assets and Liabilities, net		 -2.57 -9.95 3.10 -6.40 0.12 -10 -1.51 -23 -48 -82 -78
Net Cash From Investing Activities		 46 24 44 8.30 6.54 24 -230 29 -673 -1,221 -392
Net Cash From Continuing Investing Activities		 46 24 44 8.30 6.54 24 -230 29 -673 -1,221 -393
Purchase of Property, Plant & Equipment		 -5.32 -8.58 -4.54 -8.22 -4.71 -4.43 -2.31 -2.05 -5.20 -5.83 -10
Acquisitions		 -0.43 -0.23 -0.36 -0.54 -0.31 -16 0.00 29 -41 14 -33
Purchase of Investments		 -45 -68 -67 -79 -95 -55 -321 -115 -817 -1,505 -641
Sale and/or Maturity of Investments		 96 101 115 97 107 100 94 117 197 275 292
Other Investing Activities, net		 - - - - - - -1.10 - - 1.08 -1.43
Net Cash From Financing Activities		 0.24 0.98 1.36 -0.03 1.09 39 369 4.12 1,005 1,981 6.90
Net Cash From Continuing Financing Activities		 0.24 0.98 1.36 -0.03 1.09 39 369 4.12 1,005 1,981 6.90
Repayment of Debt		 0.01 -0.24 0.00 - 0.00 0.09 0.52 - 0.99 6.90 1.54
Issuance of Common Equity		 - - - - - - 362 -4.05 1,000 1,954 0.00
Other Financing Activities, net		 0.23 1.22 1.36 -0.17 1.09 39 5.92 8.17 3.57 20 5.36
Other Net Changes in Cash		 - - - - - - - - - - -0.42

Annual Balance Sheets for IonQ

This table presents IonQ's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 60 642 598 554 508 6,570
Total Current Assets		 39 530 372 390 379 2,586
Cash & Equivalents		 36 399 44 36 54 1,031
Short-Term Investments		 - 123 311 320 286 1,361
Accounts Receivable		 0.39 0.71 3.29 11 10 67
Prepaid Expenses		 2.07 6.44 13 23 28 128
Plant, Property, & Equipment, net		 12 19 26 38 53 120
Total Noncurrent Assets		 9.91 94 200 126 77 3,864
Long-Term Investments		 - 80 182 100 24 945
Goodwill		 - 0.00 0.74 0.74 9.90 1,964
Intangible Assets		 2.69 5.84 8.94 15 29 767
Other Noncurrent Operating Assets		 7.22 7.59 8.66 9.77 14 188
Total Liabilities & Shareholders' Equity		 60 642 598 554 508 6,570
Total Liabilities		 6.78 51 30 69 125 2,757
Total Current Liabilities		 1.88 9.69 20 37 36 167
Accounts Payable		 0.54 1.88 3.06 5.60 5.23 26
Accrued Expenses		 0.61 2.65 6.66 18 17 90
Current Deferred Revenue		 0.24 3.43 8.73 12 11 42
Other Current Liabilities		 0.50 1.73 1.72 1.10 3.37 8.85
Total Noncurrent Liabilities		 4.89 41 9.62 31 88 2,590
Noncurrent Deferred Revenue		 1.12 1.53 1.20 0.45 0.00 1.92
Other Noncurrent Operating Liabilities		 3.78 40 8.42 31 88 2,588
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 54 591 568 485 384 3,814
Total Preferred & Common Equity		 54 591 568 485 384 3,800
Total Common Equity		 54 591 568 485 384 3,800
Common Stock		 93 737 770 839 1,067 5,006
Retained Earnings		 -40 -146 -194 -352 -684 -1,194
Accumulated Other Comprehensive Income / (Loss)		 - -0.15 -7.36 -1.97 0.16 -13
Noncontrolling Interest		 - - - - 0.00 14

Quarterly Balance Sheets for IonQ

This table presents IonQ's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 607 588 577 565 544 517 498 850 1,347 4,319 6,694
Total Current Assets		 417 402 391 404 410 405 395 637 626 1,215 2,303
Cash & Equivalents		 57 52 14 37 60 42 30 160 140 346 494
Short-Term Investments		 348 336 362 347 315 328 336 429 407 736 1,540
Accounts Receivable		 2.88 1.84 2.43 3.03 9.56 7.89 4.14 9.47 19 37 98
Prepaid Expenses		 8.13 13 13 17 25 27 26 39 60 96 171
Plant, Property, & Equipment, net		 25 26 29 35 42 48 49 52 59 120 132
Total Noncurrent Assets		 165 159 156 126 92 65 53 161 662 2,984 4,258
Long-Term Investments		 150 138 134 101 59 32 17 109 110 403 1,058
Goodwill		 - 0.74 0.74 0.74 0.73 0.72 0.73 11 371 1,866 2,128
Intangible Assets		 7.60 10 12 13 17 17 17 28 143 656 781
Other Noncurrent Operating Assets		 7.14 11 11 11 15 15 18 14 38 60 291
Total Liabilities & Shareholders' Equity		 607 588 577 565 544 517 498 850 1,347 4,319 6,694
Total Liabilities		 31 36 54 67 64 54 62 85 168 2,032 1,704
Total Current Liabilities		 20 21 24 29 35 31 32 48 81 139 164
Accounts Payable		 5.04 3.60 4.56 6.41 5.85 6.32 4.85 8.75 8.94 17 38
Accrued Expenses		 8.18 9.41 9.25 16 11 8.93 16 24 49 92 65
Current Deferred Revenue		 4.70 6.29 8.43 5.22 17 14 8.33 12 17 22 51
Other Current Liabilities		 1.71 1.56 1.39 1.27 1.57 1.87 3.48 3.97 5.53 8.60 9.17
Total Noncurrent Liabilities		 11 15 30 38 29 23 30 37 88 1,892 1,540
Noncurrent Deferred Revenue		 0.74 0.95 0.71 0.46 0.18 0.12 0.06 0.00 2.77 3.38 13
Other Noncurrent Operating Liabilities		 11 14 29 38 29 23 30 37 85 1,889 1,527
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 576 552 523 498 480 463 436 765 1,178 2,288 4,990
Total Preferred & Common Equity		 576 552 523 498 480 463 436 765 1,162 2,273 4,976
Total Common Equity		 576 552 523 498 480 463 436 765 1,162 2,273 4,976
Common Stock		 760 779 795 813 873 894 917 1,481 2,050 4,238 5,420
Retained Earnings		 -176 -222 -265 -310 -392 -429 -482 -716 -893 -1,948 -389
Accumulated Other Comprehensive Income / (Loss)		 -9.12 -5.43 -6.09 -4.79 -1.72 -1.32 0.34 -0.01 4.07 -17 -55
Noncontrolling Interest		 - - - - - - - - 17 14 14

Annual Metrics And Ratios for IonQ

This table displays calculated financial ratios and metrics derived from IonQ's official financial filings.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 0.00% 430.30% 98.02% 95.41% 201.85%
EBITDA Growth		 0.00% -637.69% 50.01% -242.04% -92.72% -58.54%
EBIT Growth		 0.00% -588.86% 47.67% -218.40% -97.60% -75.14%
NOPAT Growth		 0.00% -145.90% -121.64% -83.98% -47.35% -172.62%
Net Income Growth		 0.00% -588.45% 54.32% -225.23% -110.21% -54.42%
EPS Growth		 0.00% -492.31% 67.53% -212.00% -100.00% -16.67%
Operating Cash Flow Growth		 0.00% -121.01% -68.44% -76.32% -34.10% -167.96%
Free Cash Flow Firm Growth		 0.00% 0.00% -5,601.50% -7.17% -40.89% -485.93%
Invested Capital Growth		 0.00% -164.54% 368.00% -4.44% -31.09% 2,281.13%
Revenue Q/Q Growth		 0.00% 0.00% 24.06% 11.64% 14.96% 62.85%
EBITDA Q/Q Growth		 0.00% 0.00% 49.81% -16.05% -85.07% 63.55%
EBIT Q/Q Growth		 0.00% 0.00% 48.49% -16.66% -83.33% 59.63%
NOPAT Q/Q Growth		 0.00% 0.00% -17.52% -24.29% -11.01% -31.32%
Net Income Q/Q Growth		 0.00% 0.00% 53.33% -17.29% -93.32% 65.10%
EPS Q/Q Growth		 0.00% 0.00% 62.12% -14.71% -92.59% 66.11%
Operating Cash Flow Q/Q Growth		 0.00% -3.92% -29.67% -17.46% -13.78% -14.14%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -32.38% 17.39% 17.22%
Invested Capital Q/Q Growth		 0.00% 0.00% 53.27% 117.04% -62.10% -40.60%
Profitability Metrics		 - - - - - -
Gross Margin		 0.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.00% -4,915.39% -463.36% -800.36% -789.33% -414.57%
Operating Margin		 0.00% -1,843.12% -770.34% -715.70% -539.68% -487.41%
EBIT Margin		 0.00% -5,061.93% -499.54% -803.22% -812.20% -471.24%
Profit (Net Income) Margin		 0.00% -5,058.89% -435.82% -715.77% -769.96% -393.89%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.03% 100.02% 91.99%
Interest Burden Percent		 100.00% 99.94% 87.24% 89.09% 94.78% 90.86%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -868.67% -629.66% -371.33% -662.91% -178.54%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -843.90% -631.68% -361.80% -621.70% -174.84%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 835.74% 621.29% 341.37% 586.57% 154.14%
Return on Equity (ROE)		 -28.72% -32.93% -8.37% -29.96% -76.34% -24.40%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -334.67% -366.79% -626.10% -362.42%
Operating Return on Assets (OROA)		 0.00% -30.25% -8.97% -30.75% -65.88% -17.31%
Return on Assets (ROA)		 0.00% -30.23% -7.82% -27.40% -62.46% -14.47%
Return on Common Equity (ROCE)		 -28.72% -32.93% -8.37% -29.96% -76.34% -24.32%
Return on Equity Simple (ROE_SIMPLE)		 -28.72% -17.96% -8.54% -32.53% -86.40% 0.00%
Net Operating Profit after Tax (NOPAT)		 -11 -27 -60 -110 -163 -444
NOPAT Margin		 0.00% -1,290.18% -539.23% -500.99% -377.77% -341.19%
Net Nonoperating Expense Percent (NNEP)		 -12.21% -24.77% 2.02% -9.53% -41.21% -3.70%
Return On Investment Capital (ROIC_SIMPLE)		 - - -10.56% -22.77% -42.39% -11.63%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 654.45% 323.12% 230.12% 164.96% 188.51%
R&D to Revenue		 0.00% 963.70% 395.09% 418.84% 317.66% 235.13%
Operating Expenses to Revenue		 0.00% 1,943.12% 870.34% 815.70% 639.68% 587.41%
Earnings before Interest and Taxes (EBIT)		 -15 -106 -56 -177 -350 -613
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -14 -103 -52 -176 -340 -539
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 5.44 1.21 5.23 23.55 4.18
Price to Tangible Book Value (P/TBV)		 0.00 5.49 1.24 5.41 26.24 14.88
Price to Revenue (P/Rev)		 0.00 1,531.46 61.98 115.07 209.85 122.27
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 5.00 71.58 433.14 26.37
Enterprise Value to Revenue (EV/Rev)		 0.00 1,244.38 13.66 94.38 201.40 96.71
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 1,411.79 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.67 -0.99 -0.98 -0.94 -0.94 -0.88
Leverage Ratio		 1.13 1.09 1.07 1.09 1.22 1.69
Compound Leverage Factor		 1.13 1.09 0.93 0.97 1.16 1.53
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.37%
Common Equity to Total Capital		 99.99% 100.00% 100.00% 100.00% 100.00% 99.63%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 38.08 13.86 21.05 40.29 3.36
Noncontrolling Interest Sharing Ratio		 0.01% 0.00% 0.00% 0.00% 0.00% 0.34%
Liquidity Ratios		 - - - - - -
Current Ratio		 20.51 54.65 18.43 10.49 10.50 15.50
Quick Ratio		 19.41 53.99 17.81 9.87 9.71 14.74
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 1.85 -102 -109 -154 -900
Operating Cash Flow to CapEx		 -107.56% -282.19% -388.17% -431.58% -482.64% -1,724.96%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - -
Asset Turnover		 0.00 0.01 0.02 0.04 0.08 0.04
Accounts Receivable Turnover		 0.00 3.83 5.57 2.99 3.98 3.39
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.14 0.50 0.69 0.95 1.50
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 95.38 65.57 122.20 91.75 107.69
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 95.38 65.57 122.20 91.75 107.69
Capital & Investment Metrics		 - - - - - -
Invested Capital		 18 -11 30 29 20 477
Invested Capital Turnover		 0.00 0.67 1.17 0.74 1.75 0.52
Increase / (Decrease) in Invested Capital		 0.00 -29 42 -1.35 -9.04 457
Enterprise Value (EV)		 0.00 2,612 152 2,080 8,675 12,574
Market Capitalization		 0.00 3,215 690 2,536 9,039 15,897
Book Value per Share		 $1.42 $3.07 $2.84 $2.37 $1.77 $10.72
Tangible Book Value per Share		 $1.35 $3.04 $2.79 $2.29 $1.59 $3.02
Total Capital		 54 591 568 485 384 3,814
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -36 -603 -538 -456 -364 -3,337
Capital Expenditures (CapEx)		 11 9.40 12 18 22 16
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.58 -2.54 -4.33 -2.62 2.43 27
Debt-free Net Working Capital (DFNWC)		 37 520 351 353 343 2,420
Net Working Capital (NWC)		 37 520 351 353 343 2,420
Net Nonoperating Expense (NNE)		 4.41 79 -12 47 169 69
Net Nonoperating Obligations (NNO)		 -36 -603 -538 -456 -364 -3,337
Total Depreciation and Amortization (D&A)		 1.44 3.08 4.03 0.63 9.85 74
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -121.11% -38.89% -11.87% 5.64% 21.12%
Debt-free Net Working Capital to Revenue		 0.00% 24,770.18% 3,157.56% 1,600.69% 795.67% 1,861.01%
Net Working Capital to Revenue		 0.00% 24,770.18% 3,157.56% 1,600.69% 795.67% 1,861.01%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.77) ($0.25) ($0.78) ($1.56) ($1.82)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 197.67M 197.73M 202.58M 213.03M 280.35M
Adjusted Diluted Earnings per Share		 $0.00 ($0.77) ($0.25) ($0.78) ($1.56) ($1.82)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 197.67M 197.73M 202.58M 213.03M 280.35M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.77) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 137.61M 201.55M 208.23M 222.84M 366.64M
Normalized Net Operating Profit after Tax (NOPAT)		 -11 -27 -60 -110 -163 -444
Normalized NOPAT Margin		 0.00% -1,290.18% -539.23% -500.99% -377.77% -341.19%
Pre Tax Income Margin		 0.00% -5,058.89% -435.82% -715.56% -769.83% -428.17%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for IonQ

This table displays calculated financial ratios and metrics derived from IonQ's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 366,640,756.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 366,640,756.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 2.20
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 122.08% 60.39% 76.94% 106.36% 102.09% 91.78% -0.21% 81.83% 221.50% 428.52% 754.72%
EBITDA Growth		 -98.88% -112.71% -34.82% 17.20% -9.40% -339.33% 25.15% -372.41% -1,835.64% 464.43% 2,759.61%
EBIT Growth		 -91.15% -115.93% -40.59% 12.86% -14.48% -337.60% 16.33% -372.14% -1,785.46% 439.06% 2,173.56%
NOPAT Growth		 -69.38% -130.49% -88.69% -47.91% -25.93% -42.34% -43.13% -228.13% -217.71% -335.82% -416.61%
Net Income Growth		 -86.84% -124.72% -44.82% 14.08% -17.15% -382.05% 18.54% -372.64% -1,910.84% 472.91% 2,594.76%
EPS Growth		 -83.33% -100.00% -35.71% 18.18% -9.09% -375.00% 26.32% -288.89% -1,391.67% 373.68% 1,578.57%
Operating Cash Flow Growth		 -73.30% -78.57% -48.14% -65.23% 13.77% -48.06% -61.37% -97.80% -540.66% -88.98% -357.30%
Free Cash Flow Firm Growth		 65.50% 36.94% -29.57% -413.67% -232.03% -22.99% -35.83% -602.95% -1,032.69% -1,433.31% -2,684.46%
Invested Capital Growth		 -32.52% -4.44% 69.62% 336.56% 294.61% -31.09% 49.80% 751.38% 1,419.30% 2,281.13% 2,694.96%
Revenue Q/Q Growth		 11.26% -0.49% 24.17% 50.11% 8.95% -5.56% -35.39% 173.51% 92.65% 55.25% 4.49%
EBITDA Q/Q Growth		 -1.59% 7.38% 7.22% 5.16% -34.22% -271.96% 84.19% -498.62% -449.97% 170.03% 10.28%
EBIT Q/Q Growth		 -2.44% 5.38% 5.77% 4.59% -34.57% -261.69% 81.98% -438.42% -437.41% 165.04% 10.18%
NOPAT Q/Q Growth		 -27.52% -29.04% 2.89% 7.44% -8.57% -45.86% 2.35% -112.20% -5.12% -100.09% -15.75%
Net Income Q/Q Growth		 -2.50% 6.49% 5.52% 5.13% -39.76% -284.79% 84.03% -450.45% -494.61% 171.36% 6.82%
EPS Q/Q Growth		 0.00% 9.09% 5.00% 5.26% -33.33% -295.83% 85.26% -400.00% -411.43% 172.63% -20.38%
Operating Cash Flow Q/Q Growth		 -38.51% -19.52% 23.15% -29.88% 27.72% -105.24% 16.24% -59.19% -134.10% 39.46% -102.69%
Free Cash Flow Firm Q/Q Growth		 -45.45% -59.27% -51.28% -46.57% 5.98% 41.01% -67.08% -658.54% -51.50% 20.14% -203.41%
Invested Capital Q/Q Growth		 -4.64% 117.04% 55.96% 35.25% -13.81% -62.10% 239.03% 668.69% 53.82% -40.60% 297.95%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 46.69% 134.34% 23.84%
EBITDA Margin		 -810.37% -754.26% -563.57% -356.09% -438.69% -1,727.87% -422.71% -925.16% -2,641.18% 1,191.40% 1,257.38%
Operating Margin		 -687.65% -891.71% -697.39% -430.02% -428.51% -661.85% -1,000.25% -776.03% -423.45% -369.42% -419.85%
EBIT Margin		 -811.26% -771.41% -585.37% -372.09% -459.58% -1,760.20% -490.80% -966.16% -2,695.25% 1,129.21% 1,190.69%
Profit (Net Income) Margin		 -730.30% -686.28% -522.18% -330.03% -423.35% -1,725.00% -426.28% -857.88% -2,647.90% 1,217.12% 1,244.22%
Tax Burden Percent		 100.09% 100.02% 100.02% 100.04% 100.03% 100.01% 100.04% 92.08% 99.58% 103.42% 100.80%
Interest Burden Percent		 89.94% 88.95% 89.19% 88.66% 92.09% 97.99% 86.82% 96.43% 98.66% 104.23% 103.67%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -3.42% -0.80%
Return on Invested Capital (ROIC)		 -571.91% -462.65% -343.35% -249.33% -339.38% -812.99% -532.50% -97.55% -55.31% -199.91% -80.57%
ROIC Less NNEP Spread (ROIC-NNEP)		 -568.97% -461.89% -342.82% -248.60% -335.85% -776.94% -536.16% -85.25% 45.07% -253.40% -137.49%
Return on Net Nonoperating Assets (RNNOA)		 551.37% 435.81% 318.88% 229.61% 312.04% 733.04% 487.39% 54.96% -30.91% 223.40% 90.52%
Return on Equity (ROE)		 -20.54% -26.85% -24.47% -19.71% -27.34% -79.94% -45.11% -42.59% -86.22% 23.49% 9.95%
Cash Return on Invested Capital (CROIC)		 -495.87% -366.79% -406.45% -494.19% -561.75% -626.10% -355.48% -246.03% -254.26% -362.42% -286.30%
Operating Return on Assets (OROA)		 -27.33% -29.53% -26.21% -21.22% -32.39% -142.79% -30.32% -54.29% -89.34% 41.48% 59.07%
Return on Assets (ROA)		 -24.61% -26.27% -23.38% -18.82% -29.84% -139.93% -26.33% -48.20% -87.77% 44.71% 61.72%
Return on Common Equity (ROCE)		 -20.54% -26.85% -24.47% -19.71% -27.34% -79.94% -45.11% -42.15% -85.76% 23.41% 9.93%
Return on Equity Simple (ROE_SIMPLE)		 -26.98% 0.00% -35.44% -35.37% -39.38% 0.00% -42.39% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -30 -38 -37 -34 -37 -54 -53 -112 -118 -236 -274
NOPAT Margin		 -481.35% -624.20% -488.17% -301.02% -299.96% -463.30% -700.18% -543.22% -296.42% -382.03% -423.20%
Net Nonoperating Expense Percent (NNEP)		 -2.94% -0.76% -0.54% -0.72% -3.53% -36.05% 3.66% -12.30% -100.38% 53.49% 56.92%
Return On Investment Capital (ROIC_SIMPLE)		 - -7.86% - - - -14.13% -6.92% -9.54% -5.17% -6.20% -5.48%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 53.31% -34.34% 76.16%
SG&A Expenses to Revenue		 226.97% 250.31% 184.91% 114.69% 115.50% 253.29% 314.64% 232.47% 206.96% 146.50% 137.03%
R&D to Revenue		 400.90% 517.85% 426.91% 274.18% 267.56% 342.25% 528.06% 499.46% 166.30% 155.27% 194.44%
Operating Expenses to Revenue		 787.65% 991.71% 797.39% 530.02% 528.51% 761.85% 1,100.25% 876.03% 470.14% 503.76% 443.68%
Earnings before Interest and Taxes (EBIT)		 -50 -47 -44 -42 -57 -206 -37 -200 -1,074 699 770
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -50 -46 -43 -41 -54 -202 -32 -191 -1,053 737 813
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.05 5.23 4.34 3.21 4.29 23.55 6.43 9.17 8.03 4.18 2.12
Price to Tangible Book Value (P/TBV)		 6.22 5.41 4.50 3.34 4.48 26.24 6.77 16.44 0.00 14.88 5.11
Price to Revenue (P/Rev)		 152.69 115.07 82.10 47.64 49.94 209.85 114.22 203.31 228.66 122.27 56.49
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 32.30
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.10%
Enterprise Value to Invested Capital (EV/IC)		 188.90 71.58 36.31 17.69 28.16 433.14 62.16 19.17 20.91 26.37 3.95
Enterprise Value to Revenue (EV/Rev)		 128.12 94.38 64.95 34.76 39.72 201.40 98.03 191.09 210.24 96.71 40.04
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 23.94
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 38.53
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.97 -0.94 -0.93 -0.92 -0.93 -0.94 -0.91 -0.64 -0.69 -0.88 -0.66
Leverage Ratio		 1.09 1.09 1.10 1.11 1.14 1.22 1.12 1.14 1.77 1.69 1.31
Compound Leverage Factor		 0.98 0.97 0.98 0.98 1.05 1.20 0.97 1.09 1.75 1.76 1.36
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.43% 0.63% 0.37% 0.28%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 98.57% 99.37% 99.63% 99.72%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 26.82 21.82 19.07 15.96 17.26 41.22 34.26 37.10 4.26 4.02 4.43
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.02% 0.53% 0.34% 0.24%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 14.12 10.49 11.81 13.15 12.23 10.50 13.17 7.76 8.73 15.50 14.05
Quick Ratio		 13.53 9.87 11.09 12.27 11.44 9.71 12.36 7.02 8.04 14.74 13.01
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -23 -37 -56 -82 -77 -45 -76 -573 -868 -693 -2,104
Operating Cash Flow to CapEx		 -419.03% -310.26% -450.77% -323.42% -408.31% -889.22% -988.18% -2,570.86% -2,365.97% -1,278.48% -1,509.49%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.04 0.04 0.06 0.07 0.08 0.06 0.06 0.03 0.04 0.05
Accounts Receivable Turnover		 6.68 2.99 4.45 6.05 10.45 3.98 4.53 3.88 3.89 3.39 3.48
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.65 0.69 0.74 0.81 0.88 0.95 0.92 0.98 0.94 1.50 2.03
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.35 0.00 1.91
Days Sales Outstanding (DSO)		 54.62 122.20 82.06 60.36 34.92 91.75 80.65 94.11 93.84 107.69 105.01
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 270.25 0.00 191.11
Cash Conversion Cycle (CCC)		 54.62 122.20 82.06 60.36 34.92 91.75 80.65 94.11 -176.41 107.69 -86.10
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 13 29 45 61 53 20 68 522 803 477 1,898
Invested Capital Turnover		 1.19 0.74 0.70 0.83 1.13 1.75 0.76 0.18 0.19 0.52 0.19
Increase / (Decrease) in Invested Capital		 -6.45 -1.35 19 47 39 -9.04 23 461 750 457 1,830
Enterprise Value (EV)		 2,530 2,080 1,646 1,085 1,488 8,675 4,221 10,007 16,785 12,574 7,492
Market Capitalization		 3,015 2,536 2,080 1,487 1,871 9,039 4,918 10,647 18,256 15,897 10,570
Book Value per Share		 $2.46 $2.37 $2.30 $2.19 $2.04 $1.77 $3.43 $4.69 $7.66 $10.72 $13.57
Tangible Book Value per Share		 $2.39 $2.29 $2.22 $2.11 $1.95 $1.59 $3.26 $2.61 ($0.84) $3.02 $5.64
Total Capital		 498 485 480 463 436 384 765 1,178 2,288 3,814 4,990
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -485 -456 -434 -402 -383 -364 -697 -657 -1,485 -3,337 -3,092
Capital Expenditures (CapEx)		 5.32 8.58 4.54 8.22 4.71 4.43 3.34 2.05 5.20 5.83 10
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -8.75 -2.62 -0.13 4.27 -2.63 2.43 0.32 -1.60 -6.34 27 106
Debt-free Net Working Capital (DFNWC)		 375 353 375 374 363 343 589 545 1,076 2,420 2,139
Net Working Capital (NWC)		 375 353 375 374 363 343 589 545 1,076 2,420 2,139
Net Nonoperating Expense (NNE)		 15 3.79 2.58 3.30 15 148 -21 65 937 -990 -1,078
Net Nonoperating Obligations (NNO)		 -485 -456 -434 -402 -383 -364 -697 -657 -1,485 -3,337 -3,092
Total Depreciation and Amortization (D&A)		 0.06 1.05 1.65 1.82 2.59 3.79 5.15 8.49 22 38 43
Debt-free, Cash-free Net Working Capital to Revenue		 -44.31% -11.87% -0.50% 13.68% -7.03% 5.64% 0.74% -3.05% -7.95% 21.12% 56.41%
Debt-free Net Working Capital to Revenue		 1,900.63% 1,600.69% 1,480.81% 1,198.74% 969.00% 795.67% 1,367.04% 1,041.16% 1,347.79% 1,861.01% 1,143.15%
Net Working Capital to Revenue		 1,900.63% 1,600.69% 1,480.81% 1,198.74% 969.00% 795.67% 1,367.04% 1,041.16% 1,347.79% 1,861.01% 1,143.15%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.22) ($0.20) ($0.19) ($0.18) ($0.24) ($0.95) ($0.14) ($0.70) ($3.58) $2.60 $2.19
Adjusted Weighted Average Basic Shares Outstanding		 203.39M 202.58M 208.16M 211.64M 214.31M 213.03M 228.76M 250.97M 294.52M 280.35M 358.82M
Adjusted Diluted Earnings per Share		 ($0.22) ($0.20) ($0.19) ($0.18) ($0.24) ($0.95) ($0.14) ($0.70) ($3.58) $2.60 $2.07
Adjusted Weighted Average Diluted Shares Outstanding		 203.39M 202.58M 208.16M 211.64M 214.31M 213.03M 228.76M 250.97M 294.52M 280.35M 371.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 204.70M 208.23M 211.45M 214.08M 216.39M 222.84M 247.78M 296.84M 354.28M 366.64M 373.27M
Normalized Net Operating Profit after Tax (NOPAT)		 -30 -38 -37 -34 -37 -54 -53 -112 -118 -160 -190
Normalized NOPAT Margin		 -481.35% -624.20% -488.17% -301.02% -299.96% -463.30% -700.18% -543.22% -296.42% -258.59% -293.89%
Pre Tax Income Margin		 -729.66% -686.13% -522.08% -329.90% -423.23% -1,724.83% -426.12% -931.67% -2,659.03% 1,176.92% 1,234.35%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

IonQ (NYSE: IONQ) has shown a striking shift in 2025, with a strong top-line ramp and substantial financing activity that improved liquidity. Below is a concise, investor-focused snapshot of trends across the last four years, focusing on quarterly statements provided.

  • Q4 2025 revenue reached $61.89 million, up from $39.87 million (Q3 2025), $20.69 million (Q2 2025) and $7.57 million (Q1 2025), signaling accelerating quarterly growth through 2025.
  • Q4 2025 net income attributable to common shareholders was about $753.67 million, driven by a large non-operating income line (Total Other Income / (Expense), net) of roughly $957.03 million, suggesting a substantial quarterly profitability uplift driven by non-operating items.
  • Q4 2025 equity financing was substantial: Issuance of Common Equity of about $1.954 billion, with net cash from continuing financing activities around $1.981 billion, markedly improving liquidity runway.
  • Q4 2025 net change in cash and equivalents was about $685.43 million, reflecting the strong financing inflow and resulting liquidity tailwinds.
  • The balance sheet shows a solid capital base around Q3 2025: Total Assets near $4.319 billion and Total Equity (Total Common Equity) around $2.273 billion, with Total Equity including noncontrolling interests near $2.287 billion, supporting growth initiatives.
  • Across 2025, revenue progressed in a clear upward trajectory (Q1 7.57M → Q4 61.89M), indicating meaningful top-line momentum entering 2026.
  • Q4 2025 Non-Cash Adjustments To Reconcile Net Income stand at about -$784.77 million, indicating large non-cash items influencing reported net income and potentially compressing cash-based profitability signals.
  • Research & Development expenses remain substantial (Q4 2025 RD expense around $96.10 million), highlighting continued heavy investment in technology and platform development, which is typical for IonQ but remains neutral for near-term profitability.
  • Q3 2025 net income from continuing operations was about -$1.056 billion, with earlier quarters in 2025 also posting sizable losses (e.g., Q2 2025 around -$177.5 million and Q1 2025 around -$32.25 million), underscoring near-term profitability challenges.
  • Operating cash flow remains negative in several quarters: Q4 2025 net cash from continuing operating activities about -$74.51 million; Q3 2025 about -$123.08 million; Q2 2025 about -$52.57 million; Q1 2025 about -$33.03 million, indicating ongoing cash burn before financing activities.
05/26/26 09:17 PM ETAI Generated. May Contain Errors.

IonQ Financials - Frequently Asked Questions

According to the most recent income statement we have on file, IonQ's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

IonQ's net income appears to be on an upward trend, with a most recent value of -$512.12 million in 2025, rising from -$15.42 million in 2020. The previous period was -$331.65 million in 2024. See IonQ's forecast for analyst expectations on what's next for the company.

IonQ's total operating income in 2025 was -$633.72 million, based on the following breakdown:
  • Total Gross Profit: $130.02 million
  • Total Operating Expenses: $763.73 million

Over the last 5 years, IonQ's total revenue changed from $0.00 in 2020 to $130.02 million in 2025, a change of 13,001,600,000.0%.

IonQ's total liabilities were at $2.76 billion at the end of 2025, a 2,113.7% increase from 2024, and a 40,588.8% increase since 2020.

In the past 5 years, IonQ's cash and equivalents has ranged from $35.67 million in 2023 to $1.03 billion in 2025, and is currently $1.03 billion as of their latest financial filing in 2025.

Over the last 5 years, IonQ's book value per share changed from 1.42 in 2020 to 10.72 in 2025, a change of 657.0%.


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Financial statements for NYSE:IONQ last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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