IonQ (IONQ) AI Stock Analysis

• Market Cap: $9.67B
• Dividend Yield: N/A
• Average Volume (3M): 20.94M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.90
• Revenue Growth: 69.92%
• EPS Growth: -79.18%
• Country: US
• Employees: 407
• Sector: Technology
• Sector Strength: 82
• Industry: Computer Hardware
• EPS (TTM): -0.14
• Shares Outstanding: 247,783,080
• 10 Day Avg. Volume: 18,568,708
• 30 Day Avg. Volume: 20,935,552
• PEG Ratio: -8.48
• Price to Book (P/B): 11.67
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -49.35
• Enterprise Value/Market Cap: 0.99
• Enterprise Value/Revenue: 61.54
• Enterprise Value/Gross Profit: 441.87
• Enterprise Value/Ebitda: -11.55
• 1Y Price Target: $43.00
• Price Target Upside: 8.20% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 58 Neutral
• Price Target: $41.00 ▲(3.17%Upside)

IonQ's strong revenue growth and strategic acquisitions are positive, but profitability and cash flow challenges weigh heavily on its overall score. The bullish technical trend provides some support, but valuation remains a concern due to negative earnings.

Positive Factors

Acquisitions

The acquisition of Oxford Ionics expands IonQ’s technology portfolio and solidifies the company’s leadership in trapped-ion quantum computing.

Financial Performance

IonQ strengthened its financial position by raising $373 million, providing a solid foundation to advance its computing and networking initiatives.

Revenue

Revenue exceeded expectations due to progress in commercialization and expansion in both existing and new partnerships, aligning with IonQ's roadmap and ecosystem growth.

Negative Factors

Investment Costs

Reduce PT to reflect higher EBITDA losses associated with recent acquisitions and accelerated investments.

Share Dilution

IonQ will issue between 21.1M and 35.2M shares, representing approximately 7–11% dilution based on the current share count.

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 providing access to its quantum computing capabilities via cloud services. The company collaborates with major cloud providers like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud, allowing users to access IonQ's quantum computers on a pay-per-use basis. Additionally, IonQ engages in partnerships with research institutions and enterprises to develop customized quantum solutions, further contributing to its revenue streams. The company's earnings are also supported by funding from government contracts and grants aimed at advancing quantum technology.

IonQ Financial Statement Overview

Summary

IonQ demonstrates robust revenue growth but is hindered by substantial net losses and negative cash flow, despite a strong equity base and low debt levels.

Income Statement

IonQ's income statement shows significant revenue growth over the years, increasing from $2.1M in 2021 to $43.1M in TTM (Trailing-Twelve-Months) 2025. However, the company is still unprofitable with a negative net profit margin of -753.3% in TTM 2025. The EBIT and EBITDA margins are also deeply negative, indicating the company is struggling to cover its operational costs. Despite revenue growth, the high net losses are a concern.

Balance Sheet

IonQ's balance sheet displays a strong equity base with a total stockholders' equity of $765M in TTM 2025, indicating financial stability. The debt-to-equity ratio is low at 0.02, suggesting minimal leverage and low financial risk. However, the company has been incurring losses, which could affect long-term equity if not reversed.

Cash Flow

The cash flow statement reveals negative free cash flow growth and operating cash flow, highlighting challenges in generating positive cash flow from operations. The free cash flow to net income ratio is negative, reflecting the company's ongoing cash burn. Despite substantial financing inflows, the company needs to improve its cash generation capabilities.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
43.06M	43.07M	22.04M	11.13M	2.10M	0.00
	Gross Profit
21.56M	22.48M	13.93M	8.19M	1.06M	-143.00K
	EBIT
-255.26M	-232.46M	-157.75M	-85.75M	-38.69M	-15.73M
	EBITDA
-234.00M	-213.80M	-147.38M	-80.14M	-36.14M	-14.33M
	Net Income Common Stockholders
-324.31M	-331.65M	-157.77M	-48.51M	-106.19M	-15.42M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
59.53M	340.29M	355.44M	355.80M	522.47M	36.12M
	Total Assets
0.00	508.39M	553.58M	597.99M	642.03M	60.48M
	Total Debt
0.00	17.73M	8.11M	4.05M	4.21M	4.27M
	Net Debt
59.53M	-36.67M	-27.56M	-40.32M	-394.81M	-31.85M
	Total Liabilities
0.00	124.53M	68.59M	29.78M	50.80M	6.78M
	Stockholders Equity
63.99M	383.86M	484.99M	568.21M	591.23M	53.70M
Cash Flow		Free Cash Flow
-195.90M	-123.67M	-98.36M	-57.26M	-36.56M	-23.68M
	Operating Cash Flow
-164.43M	-105.68M	-78.81M	-44.70M	-26.54M	-12.01M
	Investing Cash Flow
-190.97M	82.73M	68.77M	-309.06M	-213.78M	-11.68M
	Financing Cash Flow
409.06M	41.69M	1.76M	1.10M	603.23M	276.00K

IonQ Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 39.74
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IONQ, the sentiment is Positive. The current price of 39.74 is above the 20-day moving average (MA) of 39.21, above the 50-day MA of 31.65, and above the 200-day MA of 26.57, indicating a bullish trend. The MACD of 2.30 indicates Positive momentum. The RSI at 56.11 is Neutral, neither overbought nor oversold. The STOCH value of 28.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IONQ.

IonQ Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	62 Neutral	$11.90B	10.64	-7.50%	2.90%	7.41%	-8.19%
QUBT	60 Neutral	$1.93B	―	-30.47%	―	45.57%	-35.70%
QBTS	59 Neutral	$5.78B	―	-154.89%	―	121.61%	-13.50%
IONQ	58 Neutral	$9.67B	―	-52.11%	―	69.92%	-79.18%
RGTI	50 Neutral	$3.30B	―	-85.28%	―	-28.38%	-29.15%

IonQ Corporate Events

IonQ Files Prospectus for Resale of Shares

On June 9, 2025, IonQ, Inc. filed a prospectus supplement with the SEC for the resale of 903,195 shares of its common stock by certain stockholders. This filing is part of a registration rights agreement and includes a legal opinion from Paul, Weiss, Rifkind, Wharton & Garrison LLP, indicating compliance with regulatory requirements.

The most recent analyst rating on (IONQ) stock is a Buy with a $13.00 price target. To see the full list of analyst forecasts on IonQ stock, see the IONQ Stock Forecast page.

IonQ to Acquire Oxford Ionics for $1.075 Billion

On June 7, 2025, IonQ announced its agreement to acquire Oxford Ionics for $1.075 billion, combining IonQ’s quantum computing stack with Oxford Ionics’ ion-trap technology. This acquisition is expected to accelerate the development of powerful quantum computers, enhancing capabilities in various fields and expanding IonQ’s presence in the UK. The transaction is anticipated to close in 2025, subject to customary conditions.

The most recent analyst rating on (IONQ) stock is a Buy with a $13.00 price target. To see the full list of analyst forecasts on IonQ stock, see the IONQ Stock Forecast page.

IonQ Completes Acquisition of Lightsynq Technologies

On May 30, 2025, IonQ completed its acquisition of Lightsynq Technologies Inc. The transaction involved the issuance of 12,377,433 shares of IonQ’s common stock, with some shares subject to vesting conditions. This acquisition is part of IonQ’s strategic efforts to enhance its market positioning and operational capabilities. A Registration Rights Agreement was also established, granting the sellers of Lightsynq shares certain rights related to the stock consideration.

The most recent analyst rating on (IONQ) stock is a Buy with a $13.00 price target. To see the full list of analyst forecasts on IonQ stock, see the IONQ Stock Forecast page.

IonQ Acquires Controlling Stake in id Quantique

IonQ, a company involved in the quantum computing industry, has completed its acquisition of a controlling stake in id Quantique SA on April 30, 2025. This transaction involved the issuance of 4,215,740 shares of IonQ’s common stock to the sellers, and a Registration Rights Agreement was established to provide certain rights to the sellers regarding the stock consideration.

IonQ Ends ATM Equity Offering Amid Market Turbulence

On March 10, 2025, IonQ, Inc. announced the termination of its At-the-Market (ATM) equity offering program, which had raised over $372 million through the sale of 16,038,460 shares. The decision to end the program was influenced by recent market disruptions and the company’s assessment that it had secured sufficient capital to meet its needs, boosting its pro forma year-end cash balance to over $700 million. This move reflects IonQ’s strategic positioning to maintain its leadership in the quantum computing and networking sectors, despite turbulent market conditions.