IonQ (IONQ) AI Stock Analysis

• Market Cap: $17.60B
• Dividend Yield: N/A
• Average Volume (3M): 21.60M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.65
• Revenue Growth: 113.07%
• EPS Growth: -555.52%
• Country: US
• Employees: 407
• Sector: Technology
• Sector Strength: 88
• Industry: Computer Hardware
• EPS (TTM): -3.58
• Shares Outstanding: 354,279,600
• 10 Day Avg. Volume: 18,087,528
• 30 Day Avg. Volume: 21,595,261
• PEG Ratio: -0.27
• Price to Book (P/B): 23.18
• Price to Sales (P/S): 206.58
• P/FCF Ratio: -68.84
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 213.86
• Enterprise Value/Gross Profit: 911.34
• Enterprise Value/Ebitda: -11.82
• 1Y Price Target: $75.91
• Price Target Upside: 52.83% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 12
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: $55.00 ▲(10.73% Upside)

IonQ's overall stock score is driven by strong revenue growth and strategic acquisitions, which bolster its position in the quantum computing industry. However, significant financial losses, cash flow challenges, and mixed technical indicators weigh on the score. The company's robust earnings call and strategic corporate events provide positive momentum, but profitability remains a key concern.

Positive Factors

Revenue Growth

IonQ's impressive revenue growth indicates strong demand for its quantum computing solutions, enhancing its market position and supporting long-term expansion.

Strategic Acquisitions

Strategic acquisitions bolster IonQ's technological capabilities and market reach, positioning it as a leader in quantum computing and enabling future growth.

Strong Financial Position

A robust cash position provides IonQ with the financial flexibility to invest in R&D, strategic initiatives, and withstand market fluctuations, ensuring long-term stability.

Negative Factors

Profitability Challenges

Ongoing profitability challenges could hinder IonQ's ability to sustain operations without external financing, impacting its long-term financial health.

High Operating Expenses

High operating expenses, while supporting growth, may pressure IonQ's margins and delay the path to profitability, affecting long-term financial performance.

Cash Flow Challenges

Negative cash flow highlights IonQ's reliance on external funding, which could limit its operational flexibility and investment capacity over the long term.

IonQ Business Overview & Revenue Model

Company Description

IonQ, Inc. engages in the development of general-purpose quantum computing systems. It sells access to quantum computers with 20 qubits. 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. IonQ, Inc. was founded in 2015 and is headquartered in College Park, Maryland.

How the Company Makes Money

IonQ generates revenue primarily through the sale of quantum computing services, which include access to its quantum computers via cloud platforms. The company offers subscription models and pay-per-use pricing for its quantum computing services, allowing businesses and researchers to leverage its technology for specific applications. Additionally, IonQ has established partnerships with major technology firms, such as Microsoft and Amazon, to integrate its quantum computing capabilities into their cloud services. These collaborations not only expand IonQ's market reach but also provide crucial revenue streams through joint offerings. Furthermore, IonQ engages in research partnerships and grants that contribute to its earnings, while also exploring licensing agreements for its technology.

IonQ Financial Statement Overview

Summary

IonQ demonstrates strong revenue growth, but struggles with profitability and cash flow. The company benefits from a solid equity position and minimal debt, yet negative returns on equity and ongoing cash flow deficits highlight the need for improved operational efficiency.

Income Statement

IonQ's revenue growth is impressive at 52.45% TTM, indicating strong top-line expansion. However, the company is struggling with profitability, as evidenced by negative net profit margins (-18.36%) and EBIT margins (-5.35%). The gross profit margin has improved to 22.82% TTM, but overall profitability remains a significant challenge.

Balance Sheet

IonQ maintains a low debt-to-equity ratio of 0.0125 TTM, suggesting minimal leverage and a conservative capital structure. However, the return on equity is deeply negative at -127.93%, reflecting substantial losses relative to equity. The equity ratio stands at 52.63%, indicating a solid equity base relative to total assets.

Cash Flow

The company has shown a significant improvement in free cash flow growth at 64.42% TTM, yet it remains negative, indicating ongoing cash burn. The operating cash flow to net income ratio is -1.55, highlighting cash flow challenges. The free cash flow to net income ratio of 1.06 suggests that free cash flow is slightly better aligned with net income, but both remain negative.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	79.84M	43.07M	22.04M	11.13M	2.10M	0.00
Gross Profit	18.73M	3.82M	13.93M	2.58M	-1.49M	-1.40M
EBITDA	-1.45B	-312.93M	-147.38M	-42.91M	-103.64M	-14.02M
Net Income	-1.47B	-331.65M	-157.77M	-48.51M	-106.19M	-15.42M
Balance Sheet
Total Assets	4.32B	508.39M	553.58M	597.99M	642.03M	60.48M
Cash, Cash Equivalents and Short-Term Investments	1.08B	340.29M	355.44M	355.80M	522.47M	36.12M
Total Debt	28.52M	17.73M	8.11M	4.05M	4.21M	4.27M
Total Liabilities	2.03B	124.53M	68.59M	29.78M	50.80M	6.78M
Stockholders Equity	2.27B	383.86M	484.99M	568.21M	591.23M	53.70M
Cash Flow
Free Cash Flow	-262.83M	-129.25M	-98.36M	-57.26M	-36.56M	-23.68M
Operating Cash Flow	-248.10M	-105.68M	-78.81M	-44.70M	-26.54M	-12.01M
Investing Cash Flow	-849.27M	82.73M	68.77M	-309.06M	-213.78M	-11.68M
Financing Cash Flow	1.42B	41.69M	1.76M	1.10M	603.23M	276.00K

IonQ Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 49.67
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IONQ, the sentiment is Negative. The current price of 49.67 is above the 20-day moving average (MA) of 48.95, below the 50-day MA of 56.48, and above the 200-day MA of 43.23, indicating a neutral trend. The MACD of -1.02 indicates Negative momentum. The RSI at 47.36 is Neutral, neither overbought nor oversold. The STOCH value of 33.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IONQ.

IonQ Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
QBTS	54 Neutral	$8.94B	-17.62	-122.03%	―	156.20%	-218.56%
QUBT	52 Neutral	$2.53B	-16.90	-14.49%	―	41.51%	-111.74%
IONQ	51 Neutral	$17.60B	-8.56	-108.23%	―	113.07%	-555.52%
RGTI	41 Neutral	$7.91B	-17.28	-141.90%	―	-36.98%	-238.63%

IonQ Corporate Events

IonQ Appoints Scott Millard as Chief Business Officer

On November 17, 2025, IonQ announced the departure of Rima Alameddine as Chief Revenue Officer, effective November 24, 2025, and outlined her severance benefits, including cash payments and equity vesting. Subsequently, on November 19, 2025, IonQ appointed Scott Millard as the new Chief Business Officer, tasked with advancing the company’s growth and market adoption of its quantum solutions. Millard’s extensive experience in AI and sales leadership is expected to bolster IonQ’s position as a leader in the quantum industry.

IonQ Files Prospectus for Stock Resale by University

On November 10, 2025, IonQ, Inc. filed a prospectus supplement with the SEC to cover the resale of over 2 million shares of common stock by The University of Chicago. This filing follows a registration rights agreement entered into on November 7, 2025, and is part of IonQ’s ongoing efforts to manage its stockholder agreements and market presence.

IonQ Files Prospectus for Resale of Shares

On October 16, 2025, IonQ, Inc. filed a prospectus supplement with the SEC for the resale of over 25 million shares of common stock by certain stockholders. This move is part of the company’s ongoing financial strategies and could impact its market positioning and shareholder dynamics.

IonQ Files Prospectus for Stock Resale

On October 16, 2025, IonQ, Inc. filed a prospectus supplement with the SEC for the resale of 6,649,263 shares of common stock by certain selling stockholders. This filing is part of the company’s ongoing efforts to manage its stockholder equity and could impact its market operations by potentially increasing the liquidity of its shares.

IonQ Announces Public Offering with J.P. Morgan

On October 10, 2025, IonQ, Inc. entered into an underwriting agreement with J.P. Morgan Securities LLC for the public offering of 16,500,000 shares of common stock and 48,016,200 warrants. The offering, expected to close on October 14, 2025, is structured to provide flexibility in stock issuance and potential adjustments in response to market conditions, impacting IonQ’s financial strategy and stakeholder interests.

IonQ Completes Acquisition of Vector Atomic

On October 2, 2025, IonQ completed its acquisition of Vector Atomic, a leader in quantum sensing, significantly enhancing its quantum technology platform. This strategic move integrates Vector Atomic’s advanced precision atomic clocks and inertial sensors into IonQ’s offerings, strengthening its position in the defense and space industries. The acquisition is part of IonQ’s broader strategy to build a comprehensive quantum portfolio, following recent acquisitions and partnerships, and aims to deliver real-world impact across multiple sectors.

IonQ Appoints Former Space Force Chief to Board

IonQ has appointed General John W. ‘Jay’ Raymond, the former Chief of Space Operations for the U.S. Space Force, to its Board of Directors as of September 29, 2025. This strategic move is expected to bolster IonQ’s partnerships with government and defense agencies, leveraging Raymond’s extensive experience in national security to advance the company’s quantum computing and networking initiatives, particularly in space operations.

IonQ Completes Acquisition of Oxford Ionics

On September 16, 2025, IonQ completed the acquisition of Oxford Ionics, a UK-based quantum computing firm, enhancing its technological capabilities and expanding its presence in the UK and other global markets. This acquisition is part of IonQ’s strategy to advance its quantum computing roadmap, integrating Oxford Ionics’ ion trap technology with its systems to develop high-fidelity quantum architectures. Additionally, IonQ announced a definitive agreement to acquire Vector Atomic, Inc. in an all-stock transaction expected to close in the fourth quarter of 2025, further solidifying its position in the quantum computing industry.