IonQ Announces Record Second Quarter 2026 Revenues, Growing 287% YoY
IonQ, Inc. (IONQ) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 IonQ Announces Record Second Quarter 2026 Revenues, Growing 287% YoY International, Commercial and Multi-Product Revenues All Up YoY ● Reported Record GAAP Revenues of $80.1 Million, Representing a 287% Year-on-Year Increase, Fueled by Deployments Across Entire Quant
How this was made
The 30-second read
Why it matters
Traders can update valuation and positioning based on the raised revenue range ($280M-$290M) and the stated growth in remaining performance obligations (+297% YoY), while monitoring the call for commentary on margins, cash usage, and SkyWater/Nexus integration.
Market read
Record Q2 revenue growth and a raised FY revenue outlook are the core catalysts, with additional support from defense/national security MoUs and acquisition completion.
What to watch
The outlook explicitly excludes SkyWater acquisition contribution, so some of the growth narrative may be partially offset by integration costs and timing of revenue recognition.
IonQ Announces Record Second Quarter 2026 Revenues, Growing 287% YoY International, Commercial and Multi-Product Revenues All Up YoY
Record GAAP revenue of $80.1 million grew 287% year-on-year and exceeded the midpoint of prior guidance by 20%, while full-year revenue expectations were raised to between $280 million and $290 million. However, the company reported a ($1,867.7) million net loss, a ($5.08) GAAP EPS loss, and a ($120.3) million Adjusted EBITDA loss.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| RevenueGAAP | $80.1M | – | 287% |
| Net lossGAAP | ($1,867.7) million | – | – |
| EPSGAAP | ($5.08) | – | – |
| Adjusted EBITDA lossnon-GAAP | ($120.3) million | – | – |
| Adjusted EBITDA loss excluding SkyWater spendnon-GAAP | ($95.6) million | – | – |
| Adjusted EPSnon-GAAP | ($0.33) | – | – |
| Remaining performance obligations year-on-year growthother | 297% | – | 297% |
| Cash, cash equivalents, and investmentsother | $3B | – | – |
| Pro-forma cash, cash equivalents and investments after SkyWater acquisition cash consumedother | $2B | – | – |
full year 2026 outlook
- Revenuebetween $280 million and $290 million
- Notestrong organic growth of 100% year-on-year
- NoteThis financial outlook does not reflect any contribution from the SkyWater acquisition
What drove it
- Revenue growth was driven by global deployments of IonQ Tempo quantum computers, strong cloud utilization, and broad-based commercial momentum across the quantum platform.
- International, commercial, and multi-product revenue comprised approximately 50%, 60%, and 25% of quarterly total revenue, respectively.
- IonQ closed its acquisition of SkyWater on Friday July 31, 2026, after the quarter ended June 30, 2026.
- IonQ expanded integrated photonics capabilities through the acquisition of Nexus Photonics.
- Remaining performance obligations grew 297% year-on-year.
Concerns
- Net loss was ($1,867.7) million and GAAP EPS was ($5.08).
- Adjusted EBITDA loss was ($120.3) million, including costs of the commercial relationship with SkyWater during the second quarter.
- The full-year 2026 outlook does not reflect any contribution from the SkyWater acquisition.
- The filing does not provide gross margin, operating income, operating cash flow, free cash flow, or debt.
What to watch
- Execution against full-year revenue expectations of between $280 million and $290 million.
- Delivery of strong organic growth of 100% year-on-year for full year 2026.
- Conversion and timing of remaining performance obligations.
- Integration of SkyWater and the future financial contribution of the acquisition, which is excluded from reported results and outlook.
- Progress toward demonstrating the 256-qubit quantum computer and publishing quantum error correction results on IonQ hardware.
Balance sheet and cash flow
- Cash, cash equivalents, and investments were $3.0 billion as of June 30, 2026.
- Pro-forma for the SkyWater acquisition, cash, cash equivalents and investments are $2.0 billion.
Analysis
IonQ reported record GAAP revenue of $80.1 million for the second quarter ended June 30, 2026, up 287% year-on-year. The company said revenue was 20% above the midpoint of its previously provided range. Management attributed growth to global IonQ Tempo quantum-computer deployments, strong cloud utilization, and broad-based commercial momentum across the quantum platform.
Revenue mix broadened during the quarter. International, commercial, and multi-product revenue represented approximately 50%, 60%, and 25% of total revenue, respectively. IonQ also reported that remaining performance obligations grew 297% year-on-year, providing a reported indicator of contract backlog growth, although the filing did not disclose the dollar amount of remaining performance obligations.
Profitability remained deeply negative. IonQ reported a ($1,867.7) million net loss and GAAP EPS of ($5.08). Adjusted EBITDA loss was ($120.3) million and Adjusted EPS was ($0.33). The company stated that Adjusted EBITDA included costs from its commercial relationship with SkyWater during the quarter, and that excluding that spend, Adjusted EBITDA loss would have been ($95.6) million.
The balance sheet showed $3.0 billion of cash, cash equivalents, and investments at June 30, 2026. Pro forma for cash consumed to complete the SkyWater acquisition, the company reported $2.0 billion. SkyWater closed on July 31, 2026, after the reported quarter, and IonQ stated that neither the quarterly results nor outlook reflect SkyWater's addition.
IonQ raised full-year 2026 revenue expectations to between $280 million and $290 million and continued to expect strong organic growth of 100% year-on-year. The guide excludes SkyWater. The central operating focus is whether the company can sustain growth from Tempo deployments, cloud utilization, and its broader commercial platform while integrating SkyWater and Nexus Photonics, against the reported level of GAAP and adjusted losses.
Management, verbatim
I am pleased to report that IonQ delivered its fifth consecutive quarter of record results and the strongest quarter in our company's history.
Niccolo de Masi, Chairman and CEO
Second quarter revenue of $80.1 million again exceeded our guidance, reflecting continued customer demand across our expanding quantum platform.
Niccolo de Masi, Chairman and CEO
Our second quarter 2026 revenue grew 287% year-on-year, driven by global deployments of our IonQ Tempo quantum computers, strong cloud utilization, and broad-based commercial momentum across our quantum platform.
Inder Singh, COO and CFO
Not in the filing
stated, not guessed- Prior-year revenue amount
- Prior-quarter revenue amount
- Gross profit and gross margin
- Operating expenses
- GAAP operating income or loss
- Non-GAAP operating income or loss
- Prior-year and prior-quarter net loss
- Prior-year and prior-quarter GAAP EPS
- Prior-year and prior-quarter Adjusted EBITDA
- Prior-year and prior-quarter Adjusted EPS
- Individual segment revenue amounts
- Individual segment revenue year-on-year and quarter-on-quarter changes
- Dollar amount of remaining performance obligations
- Operating cash flow
- Free cash flow
- Capital expenditures
- Debt
- Share repurchases
- Dividends
- Full-year guidance for gross margin
- Full-year guidance for operating expenses
- Full-year guidance for tax rate
- Previous outlook section needed for comparison with prior guidance
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
This is an SEC Form 8-K (Item 2.02) with IonQ’s Q2 2026 results and updated FY 2026 revenue guidance, plus commercial and acquisition-related updates.
Ticker impact
IonQ reported record Q2 2026 GAAP revenue of $80.1M (+287% YoY) and raised full-year revenue guidance to $280M-$290M.
Bias upward for the next few sessions as traders reprice 2026 revenue expectations; volatility possible given continued GAAP losses.
The filing is a primary disclosure (8-K) with hard numbers: Q2 revenue beat vs prior range midpoint, raised FY guidance, and 297% YoY growth in remaining performance obligations. However, GAAP net loss and adjusted EBITDA loss remain large, which can cap upside.
Market effects
Reinforces investor appetite for quantum computing commercialization stories, especially full-stack platform and defense/national security demand.
Limited direct regional spillover; primarily US-listed quantum/defense tech sentiment.
International revenue share (~50%) and allied ecosystem framing may support broader global quantum funding narratives.
Counterpoint
Despite record revenue and guidance, GAAP net loss and large adjusted EBITDA losses persist, so the market may focus on cash burn and path to sustained profitability.
Key entities
- companyIonQ, Inc.
Full-stack quantum platform and foundry reporting record Q2 revenue and raising FY 2026 guidance.
- companySkyWater Technology
Acquired by IonQ; filing notes pro-forma cash and that FY outlook excludes contribution from the acquisition.
- companyAnduril
Signed an MoU with IonQ for defense and national security quantum technology collaboration.
- research_institutionSandia National Laboratories
Signed an MoU with IonQ to accelerate quantum co-design for national security applications.
- companyEPB
Collaborator on the Tennessee Quantum Communications Research Center and a commercial quantum memory unit in live fiber.
