Dashed lines mark market-closed periods (overnight, weekends & holidays)
IonQ (IONQ) has a market cap of $15.37B as of September 2026 — #1 of the 13 pure-play quantum computing stocks by market value.
IonQ develops trapped-ion quantum computers accessible via cloud through AWS Braket, Azure Quantum, and Google Cloud. The company builds full-stack quantum hardware and software targeting fault-tolerant quantum computing.
Sector
Technology
Industry
Computer Hardware
Employees
1,132
Founded
2015
Headquarters
College Park, MD
Shares Outstanding
381.0M
Quantum Division
https://ionq.com/quantum-systems
Physical Qubits
36
Forte Enterprise
Physical Qubits (Trapped-Ion, All-to-All Connectivity)
36
2Q Gate Fidelity
99.6%
1Q Gate Fidelity
99.98%
Cloud Access
Roadmap Target
#AQ 64 achieved Sept 2025 (Tempo); 100–256+ physical and 12 logical qubits in 2026; 10,000 physical / 800 logical qubits in 2027; 20,000 / 1,600 in 2028; 200,000 / 8,000 in 2029; 2 million / 80,000 by 2030
Current available system: Forte Enterprise (36 physical qubits, #AQ 36, 99.6% 2Q fidelity). Tempo has demonstrated a 64-qubit development register and #AQ 64, while its product page continues to describe 100 physical qubits and 99.9% fidelity as targets. Superion 256, IonQ's sixth-generation platform, reached first fabricated integrated 256-qubit QPUs and trapped ions in prototype systems by September 2026; orders are open, the first system was pre-sold in Q1 2026, and customer deliveries are scheduled for 2027. R&D prototype achieved 99.9923% 2Q gate fidelity in Oct 2025 using Electronic Qubit Control (EQC). Coherence times: 10–100 seconds.
Total Cashⓘ
$2.13B
TTM Cash Burnⓘ
$452.37M
per year (TTM)
Cash Runwayⓘ
56 mo
Total Debtⓘ
$0.00
Red bars = cash burn (negative operating CF). Green = cash-flow positive. Source: SEC EDGAR 10-Q filings.
Total Revenueⓘ
$130.02M
Revenue Growth (YoY)ⓘ
+201.9%
Gross Marginsⓘ
40.40%AI
Operating Marginsⓘ
-487.41%
Net Marginsⓘ
-392.55%
Total Debtⓘ
$0.00
P/E Ratio (TTM)ⓘ
—
EPS (TTM)ⓘ
$-1.8200
Price / Bookⓘ
4.62
EPS (TTM)ⓘ
$-1.8200
Unprofitable
P/E Ratioⓘ
—
Price / Bookⓘ
4.62
Price-to-Book
1Y
3Y
5Y
Source: price_history vs SPY · Periods where price history is unavailable are hidden
Total Obligated
$13.41M
Awards Found
2
Source: USAspending.gov · Updated quarterly
Source: SEC EDGAR XBRL · 10-K and 10-Q filings · Rising trend = dilution
IonQ went public via SPAC merger with dMY Technology Group IV (2021-10). SPAC warrants allow holders to buy shares at the strike price — exercising them creates new shares and dilutes existing holders.
Strike Price
$11.50
Outstanding
1.1M
Dilution Ceiling
$12.25M
Dilution ceiling = outstanding warrants × strike price. Outstanding count changes as warrants are exercised or expire — sourced from latest SEC 10-K/20-F.
Latest Short Vol %
60.9%
2026-09-16
Short Volume
3,878,195
| Date | Short Vol | Total Vol | Short % |
|---|---|---|---|
| 2026-09-16 | 3,878,195 | 6,366,410 | 60.9% |
| 2026-09-09 | 6,446,991 | 10,961,733 | 58.8% |
| 2026-09-04 | 2,741,615 | 4,444,796 | 61.7% |
| 2026-09-02 | 2,903,114 | 4,973,618 | 58.4% |
| 2026-08-28 | 5,342,648 | 7,605,128 | 70.3% |
| 2026-08-26 | 3,323,986 | 4,997,927 | 66.5% |
| 2026-08-21 | 3,496,543 | 7,457,643 | 46.9% |
| 2026-08-19 | 2,867,380 | 5,646,430 | 50.8% |
| 2026-08-12 | 4,865,639 | 7,722,393 | 63% |
| 2026-08-06 | 5,427,757 | 8,767,232 | 61.9% |
Source: FINRA CNMS · Not the same as total short interest (outstanding positions) · Updated daily
Total Citations
40,205
Indexed Works
274
Avg Citations / Work
146.7
Source: OpenAlex · Citations to papers affiliated with IonQ · Updated weekly · View institution ↗
SAR and InSAR Change Detection with Quantum Generative Models
Quantum Graph Neural Networks for Jet Tagging on Quantum Hardware
Quantum-Based Optimization of Gas Throughput in Natural Gas Transmission Networks Under Hydraulic Constraints Using QAOA
From twelve to three active qubits: Ancilla-recycled rodeo filtering for trapped neutron-proton scattering
Continuous-angle logical rotations in the Steane code
Toward Standardized Quantum Provenance: A Cross-Provider Analysis, Unified API, and Reference Prototype
An End-to-End Threat Model for the Quantum-as-a-Service Pipeline
Practical Quantum Topological Data Analysis with Applications to High-Dimensional Feature Extraction and Time Series Analysis
Source: arXiv.org API · Papers mentioning company name · Updated every 48 hours
Source: StockTwits · last 30 messages · updated every 4h
Source: Company newsroom (direct) + wire services (GlobeNewswire, PR Newswire) via Finnhub
Articles indexed every 4h · Sentiment scored via Loughran-McDonald financial word lists (bullish/bearish keyword frequency). Not ML-based — scores reflect word presence only and may not capture context or sarcasm.
SEC Filings & Earnings Reports
View annual, quarterly, and material-event filings on SEC EDGAR
FY 2025
Revenue
$130.02M
▲ 201.9% YoY
Net Income
-$510.38M
Cash
$1.03B
IonQ revenue surges 202% to $130M in FY2025, but net loss widens to $510M amid acquisition spree
IonQ expects to continue incurring significant losses for the foreseeable future; management believes current cash and investments are sufficient for the next 12 months including the ~$1.0B SkyWater cash requirement.
FY 2024
Revenue
$43.07M
▲ 95.4% YoY
Net Income
-$331.65M
Cash
$54.39M
IonQ doubles revenue to $43M but net loss explodes to $332M on warrant charges and R&D spend
Management expects significant losses and higher operating expenses to continue as the company pursues higher algorithmic qubit counts and fidelity milestones needed for quantum advantage. No profitability timeline provided.
FY 2023
Revenue
$22.04M
▲ 98.6% YoY
Net Income
-$157.77M
Cash
$35.66M
IonQ doubles revenue to $22M but net loss balloons to $158M on R&D spending surge
Management expects continued significant losses and higher operating expenses as it pursues technical milestones for increased qubit count and fidelity. No profitability timeline provided. Capital expenditures in 2024 expected to focus on facilities.
FY 2022
Revenue
$11.10M
Net Income
-$48.50M
IonQ grows revenue 67% YoY but burns cash heavily as quantum commercialization ramps
IonQ expects to continue incurring significant losses as it prioritizes R&D milestones toward higher qubit counts and fidelity needed for quantum advantage. No profitability timeline provided.
FY 2021
Net Income
-$106.20M
IonQ goes public via SPAC but burns $106M in 2021 as quantum revenue stays nascent
Management expects continued significant losses as it prioritizes R&D to increase stable qubit counts and gate fidelity. Commercialization depends on achieving quantum advantage milestones over the next several years. No specific revenue guidance provided.
FY 2020
Revenue
$0.00
Net Income
-$629.00K
Cash
$1.60M
dMY Tech III SPAC raises $300M in IPO, targets IonQ merger with $350M PIPE
Pending completion of IonQ merger; $350M PIPE committed. If no deal closes by Nov 2022, trust assets returned to shareholders and SPAC liquidates.
10-K · 10-Q · 20-F · 40-F · 6-K filings
All Filings ↗| Date Filed | Form | Period Covered | |
|---|---|---|---|
| 2026-08-10 | 10-Q | 2026-06-30 | EDGAR ↗ |
| 2026-05-07 | 10-Q | 2026-03-31 | EDGAR ↗ |
| 2026-02-25 | 10-K | 2025-12-31 | EDGAR ↗ |
| 2025-11-05 | 10-Q | 2025-09-30 | EDGAR ↗ |
| 2025-08-06 | 10-Q | 2025-06-30 | EDGAR ↗ |
| 2025-05-07 | 10-Q | 2025-03-31 | EDGAR ↗ |
| 2025-02-26 | 10-K | 2024-12-31 | EDGAR ↗ |
| 2024-11-06 | 10-Q | 2024-09-30 | EDGAR ↗ |
| 2024-08-07 | 10-Q | 2024-06-30 | EDGAR ↗ |
| 2024-05-10 | 10-Q | 2024-03-31 | EDGAR ↗ |
| 2024-02-28 | 10-K | 2023-12-31 | EDGAR ↗ |
| 2023-11-09 | 10-Q | 2023-09-30 | EDGAR ↗ |
| 2023-08-10 | 10-Q | 2023-06-30 | EDGAR ↗ |
| 2023-05-11 | 10-Q | 2023-03-31 | EDGAR ↗ |
| 2023-03-30 | 10-K | 2022-12-31 | EDGAR ↗ |
| 2022-11-14 | 10-Q | 2022-09-30 | EDGAR ↗ |
| 2022-08-15 | 10-Q | 2022-06-30 | EDGAR ↗ |
| 2022-05-16 | 10-Q | 2022-03-31 | EDGAR ↗ |
| 2022-03-29 | 10-K/A | 2021-12-31 | EDGAR ↗ |
| 2022-03-28 | 10-K | 2021-12-31 | EDGAR ↗ |
| 2021-11-15 | 10-Q | 2021-09-30 | EDGAR ↗ |
| 2021-08-16 | 10-Q | 2021-06-30 | EDGAR ↗ |
| 2021-06-04 | 10-Q | 2021-03-31 | EDGAR ↗ |
| 2021-06-04 | 10-K/A | 2020-12-31 | EDGAR ↗ |
| 2021-03-25 | 10-K | 2020-12-31 | EDGAR ↗ |
| 2020-12-18 | 10-Q | 2020-09-30 | EDGAR ↗ |
Source: SEC EDGAR · Annual: 10-K / 20-F / 40-F · Quarterly: 10-Q / 6-K · AI summaries generated automatically
Earnings releases, contracts, leadership changes, offerings
All 8-Ks ↗Source: SEC EDGAR · Material events, earnings releases, contract announcements · Updated weekly
S-3 shelf registrations, 424B prospectuses, and document-verified foreign-issuer supplements represent potential dilution events. IonQ has 18 such filings on record.
All Shelf Filings ↗Source: SEC EDGAR · S-3 = shelf registration, 424B3/B5 = active offering (dilutive)
SC 13G/D filers · >5% ownership
All 13G/D ↗| Institution | Form | % Owned | Filed |
|---|---|---|---|
| SC 13G/A | 9.92% | 2024-11-12 | |
| SC 13G | 5.60% | 2026-08-13 | |
| SC 13G/A | 5.30% | 2026-07-28 | |
| SC 13G/A | 4.70% | 2024-02-13 | |
| SC 13G | 6.00% | 2024-01-29 |
Source: SEC EDGAR SC 13G/D · Updated monthly
Open-market buys and sells by directors and officers
All Form 4s ↗90-Day Activity
| Filed | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-09-15 | ▼ SELL | 16,121 | $37.09 | |
| 2026-09-15 | ▼ SELL | 6,272 | $37.09 | |
| 2026-09-15 | ▼ SELL | 4,457 | $37.09 | |
| 2026-09-11 | ▼ SELL | 2,407 | $37.21 | |
| 2026-08-26 | ▲ BUY | 5,540 | — | |
| 2026-08-26 | ▲ BUY | 5,540 | — | |
| 2026-06-22 | ▼ SELL | 3,815 | $55.01 | |
| 2026-06-22 | ▼ SELL | 2,757 | $55.02 | |
| 2026-06-22 | ▲ BUY | 4,526 | — | |
| 2026-06-22 | ▼ SELL | 2,757 | $55.01 | |
| 2026-06-22 | ▲ BUY | 4,526 | — | |
| 2026-06-18 | ▲ BUY | 4,526 | — | |
| 2026-06-18 | ▼ SELL | 2,617 | $59.75 | |
| 2026-06-18 | ▲ BUY | 4,526 | — | |
| 2026-06-18 | ▲ BUY | 4,526 | — | |
| 2026-06-12 | ▼ SELL | 4,110 | $56.21 | |
| 2026-06-12 | ▼ SELL | 904 | $56.21 | |
| 2026-06-12 | ▼ SELL | 16,120 | $56.21 | |
| 2026-06-12 | ▼ SELL | 6,272 | $56.21 | |
| 2026-05-08 | ▼ SELL | 3,773 | $49.90 | |
| 2026-05-08 | ▲ BUY | 3,773 | $11.24 | |
| 2026-04-17 | ▲ BUY | 2,500 | $11.24 | |
| 2026-03-13 | ▼ SELL | 20,785 | $34.80 | |
| 2026-03-13 | ▼ SELL | 904 | $34.80 | |
| 2026-03-13 | ▼ SELL | 2,800 | $33.34 | |
| 2026-03-13 | ▼ SELL | 6,181 | $34.80 | |
| 2026-03-13 | ▼ SELL | 8,134 | $34.80 | |
| 2026-03-04 | ▲ BUY | 31,651 | — | |
| 2026-03-03 | ▼ SELL | 8,368 | $1.09 | |
| 2026-03-03 | ▲ BUY | 14,584 | $1.07 |
Source: SEC EDGAR Form 4 · Open-market buys and sells · Updated daily
Generated from live analyst targets, SEC filings and market data as of September 2026 — not investment advice.
▲ THE BULL CASE
• Wall Street's mean price target of $67.68 implies 68% upside — consensus rating Strong Buy across 13 analysts.
• 11 of 13 analyst ratings are Buy or Strong Buy.
• Revenue grew 202% year-over-year to $130.02M (latest fiscal year).
• $2.13B in cash gives roughly 56 months of runway at the current burn rate.
• $13.41M in U.S. federal contracts and grants across 2 awards validates the technology with government customers.
▼ THE BEAR CASE
• 18 at-the-market / shelf offering filings (S-3 / 424B / SUPPL) on record — an active dilution channel.
• 60.9% of daily trading volume is short selling (FINRA), signaling heavy bearish positioning.
• Not yet profitable: net loss of $510.38M in the latest fiscal year.
• The stock is down 40% over the past year.
IonQ has roughly 56 months of cash runway as of September 2026 — $2.13B in cash divided by its trailing-twelve-month operating burn.
IonQ has received $13.41M in U.S. federal contracts and grants across 2 tracked awards (USAspending.gov).
Dilution risk is elevated: 18 shelf/ATM offering filings on record.
IonQ's Forte Enterprise has 36 physical qubits and is commercially available; its roadmap targets #AQ 64 achieved Sept 2025 (Tempo); 100–256+ physical and 12 logical qubits in 2026; 10,000 physical / 800 logical qubits in 2027; 20,000 / 1,600 in 2028; 200,000 / 8,000 in 2029; 2 million / 80,000 by 2030.
60.9% of IONQ's daily trading volume was short selling as of 2026-09-16 (FINRA daily short volume).