IonQ (NYSE:IONQ) Posts Quarterly Earnings Results, Beats Expectations By $0.28 EPS

IonQ (NYSE:IONQ) posted its quarterly earnings data on Wednesday. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.28, FiscalAI reports. The firm had revenue of $61.89 million during the quarter, compared to analyst estimates of $40.38 million. IonQ had a negative net margin of 392.55% and a negative return on equity of 25.38%. The company’s revenue was up 428.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.15) EPS.

Here are the key takeaways from IonQ’s conference call:

• IonQ reported record revenue growth with Q4 2025 revenue of $61.9 million and full-year 2025 revenue of $130 million (?202% YoY), and reported a materially larger backlog/remaining performance obligations of $370 million (vs. $77M at end-2024).
• The company issued 2026 guidance of $225–245 million in revenue (midpoint $235M) and Q1 2026 revenue guidance of $48–51 million, signaling continued commercial expansion and international traction.
• IonQ expects significant near-term losses as it doubles down on R&D—Q4 adjusted EBITDA was ?$67.4M, FY2025 adjusted EBITDA ?$186.8M, FY R&D spend was $305.7M (up 123% YoY), and 2026 adjusted EBITDA is guided to ?$310M to ?$330M; GAAP results were also distorted by a large, non?cash warrant mark?to?market gain in Q4.
• IonQ announced a planned acquisition of SkyWater (described as the largest deal in quantum) to onshore manufacturing and become a merchant supplier, but the transaction is subject to regulatory approvals and timing remains uncertain.
• Management emphasized technical leadership—99.99% two?qubit gate fidelity, claimed large time?to?solution advantages versus superconducting systems (up to 1,000x–10,000x for some workloads), and a roadmap targeting a 256?qubit system demo in late 2026 and rapid scaling thereafter.

IonQ Stock Down 1.5%

IonQ stock traded down $0.57 during mid-day trading on Monday, hitting $37.80. 10,721,158 shares of the company were exchanged, compared to its average volume of 21,445,957. The business has a fifty day moving average of $42.58 and a 200 day moving average of $50.40. IonQ has a 1-year low of $17.88 and a 1-year high of $84.64. The company has a market capitalization of $13.13 billion, a PE ratio of -15.22 and a beta of 2.61.

Analyst Ratings Changes

Several research firms have commented on IONQ. Zacks Research raised shares of IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research note on Thursday, January 22nd. Mizuho began coverage on IonQ in a report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 target price for the company. Jefferies Financial Group assumed coverage on IonQ in a research report on Tuesday, December 16th. They set a “buy” rating and a $100.00 target price for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of IonQ in a report on Thursday. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.45.

Insider Transactions at IonQ

In other IonQ news, insider Robert T. Cardillo sold 5,165 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $39.44, for a total value of $203,707.60. Following the completion of the transaction, the insider directly owned 112,291 shares of the company’s stock, valued at approximately $4,428,757.04. The trade was a 4.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kathryn K. Chou sold 5,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the sale, the director directly owned 60,839 shares in the company, valued at $3,346,145. This trade represents a 7.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 30,781 shares of company stock valued at $1,525,804. 5.20% of the stock is owned by insiders.

Institutional Trading of IonQ

Institutional investors have recently bought and sold shares of the business. Marex Group plc raised its holdings in shares of IonQ by 419.1% during the fourth quarter. Marex Group plc now owns 4,083,453 shares of the company’s stock worth $183,225,000 after acquiring an additional 3,296,866 shares during the period. State Street Corp raised its stake in shares of IonQ by 42.3% in the 4th quarter. State Street Corp now owns 8,962,789 shares of the company’s stock valued at $402,160,000 after purchasing an additional 2,663,230 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of IonQ by 327.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,834,898 shares of the company’s stock valued at $82,332,000 after purchasing an additional 1,405,783 shares in the last quarter. Amundi bought a new stake in shares of IonQ in the fourth quarter valued at about $41,989,000. Finally, Ameriprise Financial Inc. boosted its position in shares of IonQ by 262.8% during the second quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company’s stock worth $24,768,000 after buying an additional 930,490 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

About IonQ

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.