IonQ Stock Jumps After Revenue Nearly Quadruples in Q2

TLDR

• IonQ Q2 revenue nearly quadrupled year-over-year to $80.1 million, beating the Wall Street forecast of $66.5 million.
• Adjusted loss per share came in at 33 cents, better than the expected 56-cent loss.
• Full-year revenue guidance raised to $280M-$290M, up from $260M-$270M.
• IonQ completed its $1.8 billion acquisition of chipmaker SkyWater after FTC clearance.
• The stock rose around 4-5% in premarket trading following the results.

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IonQ stock was up roughly 4.4% in premarket trading Thursday after the quantum computing company posted its strongest quarter yet, with revenue nearly quadrupling and guidance heading higher.

IonQ, Inc., IONQ

Revenue for Q2 came in at $80.1 million, up from the prior year and well ahead of the Wall Street estimate of $66.5 million. The adjusted loss per share of 33 cents also beat expectations of a 56-cent loss.

CEO Niccolo de Masi credited growing adoption of IonQ’s Tempo quantum computer and strong demand for its cloud services. He said 60% of customers are now buying more than one product, and international sales are growing.

“Candidly, we’ve had a spectacular five, six quarters in a row,” de Masi said. “We know how to set expectations, both technically and commercially, and our strategy is clearly working.”

Despite the revenue beat, IonQ posted a net loss of nearly $1.9 billion for the quarter. Its adjusted EBITDA loss was $120.3 million, reflecting costs tied to its SkyWater acquisition.

IONQ $IONQ Q2’26 EARNINGS HIGHLIGHTS

🔹 Revenue: $80.1M (Est. $65.4M) 🟢; +287% YoY
🔹 Adj. EPS: -$0.33 (Est. -$0.29) 🔴

Raises FY26 Guide:
🔹 Revenue: $280M-$290M (Est. $268M) 🟢
🔹 Organic Growth: 100% YoY

Other Q2 Metrics:
🔹 Cash, Cash Equivalents & Investments: $3.0B
🔹…

— Wall St Engine (@wallstengine) August 5, 2026

Profitability is not the focus right now. In quantum computing, investors are watching for technical milestones expected later this decade. Earnings take a back seat for now.

Guidance Raised

Along with the Q2 beat, IonQ lifted its full-year 2026 revenue outlook to between $280 million and $290 million. That’s up from the prior range of $260 million to $270 million, and above the analyst consensus of $268.6 million.

Wedbush analyst Matt Bryson noted this was the fifth consecutive quarter of record results. He also pointed out the raised guidance doesn’t include any contribution from the SkyWater deal. Bryson has an Outperform rating and a $75 price target on the stock.

Needham analyst N. Quinn Bolton said IonQ’s cash position should allow it to reach broad quantum advantage without needing to raise additional capital. He holds a Neutral rating with a $65 price target.

SkyWater Deal Closes

IonQ completed its $1.8 billion acquisition of chipmaker SkyWater last week after the FTC cleared the transaction. The deal brings semiconductor foundries in-house, giving IonQ full control of its hardware supply chain.

The FTC review briefly stalled the deal. Chairman Andrew Ferguson proposed requiring IonQ to give rival quantum companies fair access to SkyWater’s services. Commissioner Mark Meador disagreed, saying the deal wouldn’t harm competition. The FTC ultimately approved it.

With SkyWater on board, IonQ now operates an onshore foundry that can supply chip fabrication and advanced packaging to other quantum companies and enterprise clients.

On Wednesday, IonQ was also awarded a contract under the National Reconnaissance Office’s Radar Commercial Augmentation program. The company will provide synthetic aperture radar imagery for U.S. national security missions.

IonQ also received a $28 million contract extension from DARPA’s It’s About Time program, with $15 million earmarked for dedicated production space to deliver 125 atomic clocks to the U.S. government.