IonQ, Inc. (IONQ) Income Statement
IONQ 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsIONQ revenue and net income
Where IONQ's revenue goes
2025Each bar shows an amount and its share of revenue. IONQ kept −392.6% of revenue as net income.
IONQ profit margins
IONQ growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +201.9% | +126.9% | +290.6% | — |
| Gross profit | +133.7% | +173.0% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IONQ quarterly EPS vs estimates
IonQ beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: November 4, 2026 (estimate $-0.50).
IONQ income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $130.0M | $43.1M | $22.0M | $11.1M | $2.1M | $143,000 | $200,000 |
| Cost of revenue | $77.5M | $20.6M | $8.1M | $8.5M | $3.6M | $1.4M | $88,000 |
| Gross profit | $52.5M | $22.5M | $13.9M | $2.6M | −$1.5M | −$1.4M | $112,000 |
| Research & development | $305.7M | $136.8M | $92.3M | $44.0M | $20.2M | $10.2M | $6.9M |
| Sales, general & admin | $298.5M | $99.5M | $69.0M | $44.4M | $17.0M | $4.0M | $2.2M |
| Total operating expenses | $686.2M | $254.9M | $171.7M | $88.3M | $37.2M | $14.3M | $9.4M |
| Operating income | −$633.7M | −$232.5M | −$157.8M | −$85.7M | −$38.7M | −$15.7M | −$9.3M |
| Interest income | $56.0M | $18.2M | $17.3M | $7.1M | $64,000 | — | — |
| Interest expense | — | — | — | $37.2M | $4.3M | $0 | $0 |
| Income before taxes | −$556.7M | −$331.6M | −$157.7M | −$48.5M | −$106.2M | −$15.4M | −$8.9M |
| Income taxes | −$44.6M | $59,000 | $48,000 | −$37.2M | $67.5M | $1.2M | $9,000 |
| Net income | −$510.4M | −$331.6M | −$157.8M | −$48.5M | −$106.2M | −$15.4M | −$8.9M |
| EBITDA | −$474.7M | −$312.9M | −$147.3M | −$42.9M | −$103.6M | −$14.0M | −$8.9M |
| EPS (diluted) | −$1.95 | −$0.95 | −$0.64 | −$0.31 | −$0.27 | −$0.08 | — |
| Gross margin | 40.4% | 52.2% | 63.2% | 23.2% | −70.9% | −979.0% | 56.0% |
| Operating margin | −487.4% | −539.7% | −715.7% | −770.3% | −1,843.1% | −11,002.1% | −4,627.5% |
| Net margin | −392.6% | −770.0% | −715.8% | −435.8% | −5,058.9% | −10,786.0% | −4,467.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $80.0M | $64.7M | $61.9M | $39.9M | $20.7M | $7.6M | $11.7M | $12.4M | $11.4M | $7.6M | $6.1M | $6.1M |
| Cost of revenue | $60.1M | $49.3M | $26.9M | $20.7M | $18.9M | $10.9M | $5.0M | $6.5M | $9.9M | $3.4M | $6.7M | $2.0M |
| Gross profit | $19.9M | $15.4M | $35.0M | $19.1M | $1.8M | −$3.3M | $6.7M | $5.9M | $1.5M | $4.2M | −$563,000 | $4.1M |
| Research & development | $160.6M | $125.7M | $96.1M | $68.0M | $103.4M | $40.0M | $40.1M | $33.2M | $31.2M | $32.4M | $31.6M | $24.6M |
| Sales, general & admin | $150.5M | $118.1M | $110.2M | $96.9M | $48.1M | $32.4M | $38.6M | $21.0M | $19.2M | $20.7M | $22.3M | $19.0M |
| Total operating expenses | $357.2M | $286.9M | $277.7M | $187.9M | $148.2M | $72.4M | $84.2M | $59.0M | $50.4M | $57.0M | $53.9M | $46.3M |
| Operating income | −$337.2M | −$271.5M | −$242.7M | −$168.8M | −$146.5M | −$75.7M | −$77.5M | −$53.1M | −$48.9M | −$52.9M | −$54.4M | −$42.2M |
| Interest income | $32.0M | $28.2M | $29.5M | $14.4M | $7.1M | $4.9M | $4.1M | $4.5M | $4.8M | $4.8M | $5.2M | $5.0M |
| Income before taxes | −$1.87B | $798.2M | $728.4M | −$1.06B | −$192.8M | −$32.2M | −$202.0M | −$52.5M | −$37.5M | −$39.6M | −$41.9M | −$44.8M |
| Income taxes | −$6.1M | −$6.4M | $24.9M | −$4.4M | −$15.3M | $12,000 | $20,000 | $16,000 | $15,000 | $8,000 | $9,000 | $39,000 |
| Net income | −$1.87B | $805.4M | $753.7M | −$1.05B | −$176.8M | −$32.3M | −$202.0M | −$52.5M | −$37.6M | −$39.6M | −$41.9M | −$44.8M |
| EBITDA | $1.25B | $841.4M | $769.0M | −$1.04B | −$182.2M | −$25.7M | −$196.5M | −$47.6M | −$33.2M | −$35.6M | −$38.4M | −$42.0M |
| EPS (diluted) | −$0.72 | −$0.34 | $1.93 | −$3.58 | −$0.14 | −$0.16 | −$0.34 | −$0.24 | −$0.18 | −$0.19 | −$0.20 | −$0.18 |
| Gross margin | 24.9% | 23.8% | 56.5% | 48.0% | 8.5% | −43.7% | 56.9% | 47.5% | 12.8% | 55.0% | −9.2% | 67.3% |
| Operating margin | −421.3% | −419.8% | −392.2% | −423.5% | −707.9% | −1,000.3% | −661.9% | −428.5% | −430.0% | −697.4% | −891.7% | −687.6% |
| Net margin | −2,333.2% | 1,245.4% | 1,217.8% | −2,646.3% | −854.5% | −426.3% | −1,725.0% | −423.4% | −330.0% | −522.2% | −686.3% | −730.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in IONQ's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IONQ financial results
In fiscal year 2025 (ended December 31, 2025), IonQ reported revenue of $130.0 million, up 201.9% from the year before. It had a net loss of $510.4 million, a net profit margin of −392.6%. Diluted earnings per share came to −$1.95. Over five years revenue grew at an average rate of 290.6% a year.
See the IONQ stock overview for the latest quote and news, or the IONQ chart for price history and technical indicators.
IONQ income statement FAQ
What is IonQ's annual revenue?
IonQ reported total revenue of $130.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 201.9% from $43.1 million the previous year.
Is IonQ profitable?
No. IonQ reported a net loss of $510.4 million in fiscal 2025, a net profit margin of −392.6%; its operating margin was −487.4%.
What is IonQ's gross margin?
IonQ's gross margin was 40.4% in fiscal 2025: for every $100 of revenue, IonQ kept $40 after the direct cost of its products and services.
How much does IonQ spend on research and development?
IonQ spent $305.7 million on research and development in fiscal 2025, 235.1% of revenue.
How fast is IonQ growing?
Revenue grew 290.6% a year on average over the last five fiscal years, from $0.1 million to $130.0 million.
What are IonQ's earnings per share?
IonQ earned $-1.95 per diluted share in fiscal 2025, compared with $-0.95 a year earlier.
When will IonQ report its next earnings?
IonQ is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does IonQ's fiscal year end?
IonQ's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.