IonQ reported its fourth‑quarter 2025 results on February 25, 2026, posting a revenue of $61.9 million—an increase of 429% year‑over‑year—and a full‑year revenue of $130.0 million, up 202% from the $43.1 million reported in 2024. The company’s adjusted earnings per share of $‑0.20 beat consensus estimates of $‑0.48 to $‑0.51, a beat of $0.28 to $0.31, driven by a stronger commercial mix and higher gross margin of 29.6% compared with 18.3% in the prior year.
The earnings beat was largely a result of the company’s focus on commercial customers, who accounted for more than 60% of the $130.0 million in 2025 revenue. International sales also grew to over 30% of total revenue, reflecting the global reach of IonQ’s quantum platform. The company’s gross profit rose 174.5% YoY to $18.3 million, while operating losses widened to $73.5 million, largely due to continued investment in research and development and the impact of non‑cash warrant mark‑to‑market gains that inflated GAAP net income to $753.7 million.
IonQ raised its 2026 revenue guidance to a range of $225 million to $245 million, with a midpoint of $235 million—an increase of roughly 22% over the prior guidance. Management said the higher outlook reflects “strong demand from commercial customers and a growing global footprint” and signals confidence that the company’s semiconductor‑based roadmap will continue to accelerate adoption of its quantum computers.
The company also announced its agreement to acquire SkyWater Technology, a move that will expand IonQ’s onshore manufacturing capabilities and position it as a leading merchant supplier in the U.S. quantum industry. The acquisition is described as the largest deal in quantum history and is expected to enhance IonQ’s supply chain resilience and accelerate product delivery.
Investors reacted positively to the results, citing the record‑breaking revenue growth and the upward revision of guidance as evidence of IonQ’s commercial traction and strategic momentum. The company’s first‑ever GAAP revenue above $100 million and the tripling of annual revenue in 2025 were highlighted as key milestones.
"I am pleased to share that IonQ has once again significantly outperformed our revenue guidance range, exceeding the midpoint by 55% for the fourth quarter and 20% for the full year by delivering $61.9 million and $130.0 million respectively," said Niccolo de Masi, Chairman and CEO. "2025 was a year of tremendous accomplishments and both a strategic and financial inflection point for IonQ. We became the first public quantum company in history with more than $100 million in GAAP revenue. We tripled our annual revenue and accelerated to a semiconductor‑based roadmap for our industry‑leading quantum computers."
"2025 represented historic growth for the company, and our results exceeded our own expectations for both top line and bottom line, as well as consensus estimates. In our 2025 revenues of $130.0 million, more than 60% came from commercial customers, demonstrating that quantum is resonating with the commercial sector. In addition, international sales comprised more than 30% of revenue, demonstrating that our quantum platform is more global. Importantly, our 2025 results included nearly 80% year‑over‑year organic growth, and in our 2026 guidance, we expect organic growth to be even higher." – Inder Singh, CFO and COO
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