IonQ (IONQ) AI Stock Analysis

• Market Cap: $11.08B
• Dividend Yield: N/A
• Average Volume (3M): 21.00M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.77
• Revenue Growth: 69.92%
• EPS Growth: -79.18%
• Country: US
• Employees: 407
• Sector: Technology
• Sector Strength: 92
• Industry: Computer Hardware
• EPS (TTM): -0.14
• Shares Outstanding: 261,632,970
• 10 Day Avg. Volume: 19,138,520
• 30 Day Avg. Volume: 21,003,928
• PEG Ratio: -9.05
• Price to Book (P/B): 12.45
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -55.63
• Enterprise Value/Market Cap: 0.97
• Enterprise Value/Revenue: 69.17
• Enterprise Value/Gross Profit: 496.66
• Enterprise Value/Ebitda: -12.99
• 1Y Price Target: $47.50
• Price Target Upside: 12.19% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7

• Rating: 58 Neutral
• Price Target: $43.00 ▲(1.56%Upside)

IonQ benefits from strategic acquisitions and a strong cash position but faces challenges with profitability and cash flow. The earnings call and corporate events provide positive outlooks, yet the financial and valuation metrics limit the overall score.

Positive Factors

Acquisitions

Mr. de Massi has broadened and accelerated IONQ’s strategic vision, leveraging key acquisitions to establish a leading global position in the intertwined fields of quantum computing and quantum networking.

Strategic Positioning

IONQ is positioning itself as a leader in both quantum computing and the increasingly critical field of quantum networking, driven by a clear strategic vision and an accelerated technical roadmap.

Technical Advancements

IonQ recently announced two significant advancements: the successful quantum computer simulation of the most complex protein folding problem to date and the first known quantum simulation of neutrinoless double-beta decay, underscoring the company's hardware capabilities and strategy.

Negative Factors

Market Competition

Management is confident in its accelerated commercial technical roadmap, which is in sharp contrast to competitors, with significant advancements expected in the coming years.

Security Concerns

Management emphasized that quantum networking is vital for securing commerce, banking, and communications against future threats, especially as quantum computers develop the capability to break current encryption standards.

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 exhibits strong revenue growth, increasing from $2.1M in 2021 to $43.1M in TTM 2025. However, the company remains unprofitable with a negative net profit margin of -753.3% and negative cash flow, indicating struggles in covering operational costs and generating positive cash flow. The strong equity position is a positive, but persistent losses and cash burn are concerns.

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

IonQ Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 42.34
• 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 Neutral. The current price of 42.34 is below the 20-day moving average (MA) of 43.68, above the 50-day MA of 41.31, and above the 200-day MA of 32.06, indicating a neutral trend. The MACD of 0.77 indicates Positive momentum. The RSI at 49.64 is Neutral, neither overbought nor oversold. The STOCH value of 33.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IONQ.

IonQ Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	69 Neutral	¥230.42B	14.66	7.50%	2.60%	9.31%	5.75%
QBTS	63 Neutral	$5.73B	―	-154.89%	―	121.61%	-13.50%
IONQ	58 Neutral	$11.08B	―	-52.11%	―	69.92%	-79.18%
RGTI	55 Neutral	$5.03B	―	-85.28%	―	-28.38%	-29.15%
QUBT	51 Neutral	$2.55B	―	-30.47%	―	45.57%	-35.70%

IonQ Corporate Events

IonQ Completes Acquisition of Capella Space Corporation

On July 11, 2025, IonQ completed its acquisition of Capella Space Corporation, a company specializing in synthetic aperture radar and satellite solutions. This acquisition is a significant step for IonQ in developing a space-based quantum key distribution network, which aims to enable secure global communications. The integration of Capella’s satellite capabilities with IonQ’s quantum technology positions IonQ to pioneer advancements in quantum networking and secure communications, benefiting commercial applications, global defense, and intelligence missions.

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 Enters Underwriting Agreement with J.P. Morgan

On July 7, 2025, IonQ, Inc. entered into an underwriting agreement with J.P. Morgan Securities LLC for the sale of shares and warrants, including 14,165,708 shares of common stock and 39,898,087 warrants. This strategic move is expected to enhance IonQ’s financial position and support its growth in the quantum computing market. The closing of the offering is anticipated to occur on July 9, 2025, potentially impacting stakeholders by increasing the company’s capital and enabling further technological advancements.

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 Confirms Director Elections at Annual Meeting

IonQ, Inc. held its annual meeting of stockholders on June 17, 2025, where key proposals were voted on. The election of two Class I directors, Niccolo de Masi and Inder M. Singh, was confirmed, and the compensation of named executive officers was approved on a non-binding basis. Additionally, Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2025.

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 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.