IonQ, Inc. (NYSE: IONQ) has reported its financial results for the second quarter ended June 30, 2026. The College Park-based trapped-ion leader delivered its fifth consecutive quarter of record results, driven by global deployments of its IonQ Tempo systems, accelerating cloud utilization, and the recent closing of its acquisition of SkyWater Technology.
The table below summarizes key GAAP financial metrics for Q2 2026 compared with the prior quarter (Q1 2026) and the year-ago quarter (Q2 2025).
| Amounts in $M | Q2’2026 | Q1’2026 | Q2’2025 | % vs Q1’2026 | % vs Q2’2025 |
| Revenue | $80.05 | $64.67 | $20.69 | +23.8% | +286.8% |
| Operating Expenses | $417.29 | $336.18 | $181.29 | +24.1% | +130.2% |
| Operating Loss | ($337.24) | ($271.51) | ($160.59) | +24.2% | +109.9% |
| Net Loss | ($1,867.74) | $805.36 | ($176.84) | N/M | +956.2% |
| Cash and Investments | $2,959.33* | $3,091.90* | $656.80* | -4.3% | +350.6% |
*Note: Cash and Investments aggregates Cash and Cash Equivalents, Short-term Investments, and Long-term Investments ($2.96 billion total as of June 30, 2026). Baseline comparisons reflect QCR’s previously reported figures ($3.09B for Q1 2026 and $656.8M for Q2 2025, which expanded to a pro-forma $1.6B following July 2025 equity offerings). On a pro-forma basis following the close of the SkyWater acquisition on July 31, 2026, total cash and investments stand at $2.0 billion.
Financial Growth and Raised Full-Year Guidance
IonQ recognized record quarterly revenue of $80.05 million, representing a 287% increase year-over-year and topping the high end of its prior guidance. Revenue diversification strengthened significantly across the business, with international customers accounting for ~50%, commercial enterprise clients comprising ~60%, and multi-product offerings making up ~25% of total Q2 revenue.
GAAP Net Loss was ($1.87) billion, or ($5.08) per share, heavily impacted by a $1.65 billion non-cash loss from the mark-to-market revaluation of warrant liabilities driven by the increase in IonQ’s stock price. On a non-GAAP basis, Adjusted EBITDA loss was ($120.28) million, which included $24.7 million in R&D expenses associated with its commercial relationship with SkyWater prior to closing the transaction.
Buoyed by organic momentum, IonQ raised its full-year 2026 revenue guidance to between $280 million and $290 million (representing 100% year-over-year organic growth at the midpoint, excluding SkyWater’s future contributions).
Strategic M&A: Closing of SkyWater Technology
On July 31, 2026 (subsequent to quarter-end), IonQ officially finalized its acquisition of SkyWater Technology, creating the industry’s first vertically integrated, full-stack quantum platform and foundry.
- Vertical Integration: The transaction embeds dedicated semiconductor manufacturing directly into IonQ’s supply chain, supporting chip-scale miniaturization and scaling for future quantum processing units (QPUs).
- Nexus Photonics: Complemented by the recent integration of Nexus Photonics, IonQ is expanding its integrated photonics manufacturing stack to accelerate photonic routing, optical interconnects, and QPU packaging.
Commercial Milestones and Ecosystem Momentum
- Anduril Partnership: Signed an MOU with defense technology leader Anduril to co-develop quantum sensing, networking, and computing solutions for mission-critical national security and defense bids.
- Tennessee Quantum Communications Research Center: Partnered with EPB to house the world’s first commercial quantum memory unit installed directly within a live fiber-optic network.
- Sandia National Laboratories: Entered an MOU to accelerate quantum hardware co-design for national security infrastructure.
- Quantum Security Expansion: Introduced ClavisXG Multiplex, adding high-performance physics-based key distribution to its network security suite.
- Space-Based Capabilities: Expanded its on-orbit optical communications terminals to a record high of 84 units in support of U.S. government space initiatives.
Resources and Further Reading
Additional information regarding this report can be found in the IonQ Q2 2026 press release here, the Q2 2026 Earnings Presentation here, and the company’s SEC Form 8-K filing here.
August 7, 2026