IonQ (IONQ) Financials

$45.09 -0.11 (-0.24%)

Closing price 07/8/2025 03:59 PM Eastern

Extended Trading

$45.32 +0.23 (+0.52%)

As of 07/8/2025 07:59 PM Eastern

Annual Income Statements for IonQ

This table shows IonQ's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-15	-106	-49	-158	-332
Consolidated Net Income / (Loss)	-15	-106	-49	-158	-332
Net Income / (Loss) Continuing Operations	-15	-106	-49	-158	-332
Total Pre-Tax Income	-15	-106	-49	-158	-332
Total Operating Income	-16	-39	-86	-158	-232
Total Gross Profit	0.00	2.10	11	22	43
Total Revenue	0.00	2.10	11	22	43
Operating Revenue	0.00	2.10	11	22	43
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	16	41	97	180	276
Selling, General & Admin Expense	3.55	14	36	51	71
Marketing Expense	0.49	3.23	8.39	18	28
Research & Development Expense	10	20	44	92	137
Depreciation Expense	1.40	2.55	5.60	10	19
Other Operating Expenses / (Income)	0.14	1.04	2.94	8.11	21
Total Other Income / (Expense), net	0.31	-67	37	0.03	-99
Interest & Investment Income	-	-	7.09	19	18
Other Income / (Expense), net	0.31	-68	30	-19	-117
Income Tax Expense	0.00	0.00	0.00	0.05	0.06
Basic Earnings per Share	($0.13)	($0.77)	($0.25)	($0.78)	($1.56)
Weighted Average Basic Shares Outstanding	115.05M	137.61M	197.73M	202.58M	213.03M
Diluted Earnings per Share	($0.13)	($0.77)	($0.25)	($0.78)	($1.56)
Weighted Average Diluted Shares Outstanding	115.05M	137.61M	197.73M	202.58M	213.03M
Weighted Average Basic & Diluted Shares Outstanding	115.05M	137.61M	201.55M	208.23M	222.84M

This table shows IonQ's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-24	-19	-27	-44	-45	-42	-40	-38	-52	-202	-32
Consolidated Net Income / (Loss)	-24	-19	-27	-44	-45	-42	-40	-38	-52	-202	-32
Net Income / (Loss) Continuing Operations	-24	-19	-27	-44	-45	-42	-40	-38	-52	-202	-32
Total Pre-Tax Income	-24	-19	-27	-44	-45	-42	-40	-38	-52	-202	-32
Total Operating Income	-25	-24	-28	-33	-42	-54	-53	-49	-53	-78	-76
Total Gross Profit	2.76	3.81	4.29	5.52	6.14	6.11	7.58	11	12	12	7.57
Total Revenue	2.76	3.81	4.29	5.52	6.14	6.11	7.58	11	12	12	7.57
Operating Revenue	2.76	3.81	4.29	5.52	6.14	6.11	7.58	11	12	12	7.57
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	28	27	32	39	48	61	60	60	66	89	83
Selling, General & Admin Expense	10	9.07	11	11	14	15	14	13	14	30	24
Marketing Expense	1.97	2.41	2.67	3.58	5.05	6.98	6.70	6.14	6.63	8.93	8.61
Research & Development Expense	13	14	16	20	25	32	32	31	33	40	40
Depreciation Expense	1.53	1.36	1.79	2.33	2.75	3.51	3.96	4.31	4.89	5.50	6.56
Other Operating Expenses / (Income)	0.73	0.90	1.04	1.90	2.01	3.16	3.41	5.62	6.52	5.05	4.32
Total Other Income / (Expense), net	0.93	4.98	0.69	-11	-2.58	13	13	11	0.66	-124	43
Interest & Investment Income	2.06	3.17	4.23	4.88	5.01	5.21	4.80	4.80	4.51	4.14	4.89
Other Income / (Expense), net	-1.13	1.81	-3.55	-16	-7.59	7.35	8.49	6.59	-3.85	-129	39
Income Tax Expense	0.00	-	0.00	0.00	0.04	0.01	0.01	0.02	0.02	0.02	0.01
Basic Earnings per Share	($0.12)	($0.10)	($0.14)	($0.22)	($0.22)	($0.20)	($0.19)	($0.18)	($0.24)	($0.95)	($0.14)
Weighted Average Basic Shares Outstanding	198.30M	197.73M	200.11M	201.43M	203.39M	202.58M	208.16M	211.64M	214.31M	213.03M	228.76M
Diluted Earnings per Share	($0.12)	($0.10)	($0.14)	($0.22)	($0.22)	($0.20)	($0.19)	($0.18)	($0.24)	($0.95)	($0.14)
Weighted Average Diluted Shares Outstanding	198.30M	197.73M	200.11M	201.43M	203.39M	202.58M	208.16M	211.64M	214.31M	213.03M	228.76M
Weighted Average Basic & Diluted Shares Outstanding	199.96M	201.55M	201.03M	202.60M	204.70M	208.23M	211.45M	214.08M	216.39M	222.84M	247.78M

This table details how cash moves in and out of IonQ's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-23	363	-353	-8.29	19
Net Cash From Operating Activities	-12	-27	-45	-79	-106
Net Cash From Continuing Operating Activities	-12	-27	-45	-79	-106
Net Income / (Loss) Continuing Operations	-15	-106	-49	-158	-332
Consolidated Net Income / (Loss)	-15	-106	-49	-158	-332
Depreciation Expense	1.40	2.55	5.60	10	19
Amortization Expense	0.04	0.53	-1.58	-9.75	-8.80
Non-Cash Adjustments To Reconcile Net Income	1.30	77	2.28	91	229
Changes in Operating Assets and Liabilities, net	0.68	-0.20	-2.50	-13	-13
Net Cash From Investing Activities	-12	-214	-309	69	83
Net Cash From Continuing Investing Activities	-12	-214	-309	69	83
Purchase of Property, Plant & Equipment	-11	-9.40	-12	-18	-22
Acquisitions	-0.51	-0.62	-1.90	-1.29	-17
Purchase of Investments	0.00	-204	-606	-298	-296
Sale and/or Maturity of Investments	-	0.00	310	387	418
Net Cash From Financing Activities	0.28	603	1.10	1.76	42
Net Cash From Continuing Financing Activities	0.28	603	1.10	1.76	42
Repayment of Debt	-	-	0.02	-0.23	0.24
Repurchase of Preferred Equity	0.00	-0.97	0.00	0.00	0.00
Other Financing Activities, net	0.28	604	1.08	1.99	41
Effect of Exchange Rate Changes	-	-	0.00	-0.00	0.03

This table details how cash moves in and out of IonQ's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	13	-11	7.53	-38	23	-1.47	24	-18	-12	24	106
Net Cash From Operating Activities	-13	-15	-14	-16	-22	-27	-20	-27	-19	-39	-33
Net Cash From Continuing Operating Activities	-13	-15	-14	-16	-22	-27	-20	-27	-19	-39	-33
Net Income / (Loss) Continuing Operations	-24	-19	-27	-44	-45	-42	-40	-38	-52	-202	-32
Consolidated Net Income / (Loss)	-24	-19	-27	-44	-45	-42	-40	-38	-52	-202	-32
Depreciation Expense	1.53	1.36	1.79	2.33	2.75	3.51	3.96	4.31	4.89	5.50	6.56
Amortization Expense	-0.49	-1.19	-1.92	-2.68	-2.69	-2.46	-2.30	-2.49	-2.30	-1.72	-1.41
Non-Cash Adjustments To Reconcile Net Income	13	7.34	14	27	25	24	14	16	31	169	-4.42
Changes in Operating Assets and Liabilities, net	-3.27	-3.77	-0.71	0.62	-2.57	-9.95	3.10	-6.40	0.12	-10	-1.51
Net Cash From Investing Activities	25	5.15	21	-22	46	24	44	8.30	6.54	24	-230
Net Cash From Continuing Investing Activities	25	5.15	21	-22	46	24	44	8.30	6.54	24	-230
Purchase of Property, Plant & Equipment	-1.87	-1.64	-2.03	-2.33	-5.32	-8.58	-4.54	-8.22	-4.71	-4.43	-3.34
Acquisitions	-0.23	-1.30	-0.32	-0.31	-0.43	-0.23	-0.36	-0.54	-0.31	-16	-0.22
Purchase of Investments	-85	-117	-64	-121	-45	-68	-67	-79	-95	-55	-321
Sale and/or Maturity of Investments	112	125	88	101	96	101	115	97	107	100	94
Net Cash From Financing Activities	1.11	-1.07	0.03	0.51	0.24	0.98	1.36	-0.03	1.09	39	369
Net Cash From Continuing Financing Activities	1.11	-1.07	0.05	0.49	0.24	0.98	1.36	-0.03	1.09	39	369
Repayment of Debt	0.72	-1.19	-	-	0.01	-0.24	-	-	0.00	0.09	0.00
Issuance of Common Equity	-	-	-	-	-	-	-	-	-	-	362
Other Financing Activities, net	0.39	0.12	0.05	0.49	0.23	1.22	1.36	-0.17	1.09	39	6.43
Other Net Changes in Cash	-	-	-	-	-	-	-	-	-	-	-0.01

This table presents IonQ's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	60	642	598	554	508
Total Current Assets	39	530	372	390	379
Cash & Equivalents	36	399	44	36	54
Short-Term Investments	-	123	311	320	286
Accounts Receivable	0.39	0.71	3.29	11	10
Prepaid Expenses	2.07	6.44	13	23	28
Plant, Property, & Equipment, net	12	19	26	38	53
Total Noncurrent Assets	9.91	94	200	126	77
Long-Term Investments	-	80	182	100	24
Goodwill	-	0.00	0.74	0.74	9.90
Intangible Assets	2.69	5.84	8.94	15	29
Other Noncurrent Operating Assets	7.22	7.59	8.66	9.77	14
Total Liabilities & Shareholders' Equity	60	642	598	554	508
Total Liabilities	6.78	51	30	69	125
Total Current Liabilities	1.88	9.69	20	37	36
Accounts Payable	0.54	1.88	3.06	5.60	5.23
Accrued Expenses	0.61	2.65	6.66	18	16
Current Deferred Revenue	0.24	3.43	8.73	12	11
Other Current Liabilities	0.50	1.73	1.72	1.10	3.75
Total Noncurrent Liabilities	4.89	41	9.62	31	88
Noncurrent Deferred Revenue	1.12	1.53	1.20	0.45	0.00
Other Noncurrent Operating Liabilities	3.78	40	8.42	31	88
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	54	591	568	485	384
Total Preferred & Common Equity	54	591	568	485	384
Total Common Equity	54	591	568	485	384
Common Stock	93	737	770	839	1,067
Retained Earnings	-40	-146	-194	-352	-684
Accumulated Other Comprehensive Income / (Loss)	-	-0.15	-7.36	-1.97	0.16

This table presents IonQ's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	607	588	577	565	544	517	498	850
Total Current Assets	417	402	391	404	410	405	395	637
Cash & Equivalents	57	52	14	37	60	42	30	160
Short-Term Investments	348	336	362	347	315	328	336	429
Accounts Receivable	2.88	1.84	2.43	3.03	9.56	7.89	4.14	9.47
Prepaid Expenses	8.13	13	13	17	25	27	26	39
Plant, Property, & Equipment, net	25	26	29	35	42	48	49	52
Total Noncurrent Assets	165	159	156	126	92	65	53	161
Long-Term Investments	150	138	134	101	59	32	17	109
Goodwill	-	0.74	0.74	0.74	0.73	0.72	0.73	11
Intangible Assets	7.60	10	12	13	17	17	17	28
Other Noncurrent Operating Assets	7.14	11	11	11	15	15	18	14
Total Liabilities & Shareholders' Equity	607	588	577	565	544	517	498	850
Total Liabilities	31	36	54	67	64	54	62	85
Total Current Liabilities	20	21	24	29	35	31	32	48
Accounts Payable	5.04	3.60	4.56	6.41	5.85	6.32	4.85	8.75
Accrued Expenses	8.18	9.41	9.25	16	11	8.93	16	24
Current Deferred Revenue	4.70	6.29	8.43	5.22	17	14	8.33	12
Other Current Liabilities	1.71	1.56	1.39	1.27	1.57	1.87	3.48	3.97
Total Noncurrent Liabilities	11	15	30	38	29	23	30	37
Noncurrent Deferred Revenue	0.74	0.95	0.71	0.46	0.18	0.12	0.06	0.00
Other Noncurrent Operating Liabilities	11	14	29	38	29	23	30	37
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	576	552	523	498	480	463	436	765
Total Preferred & Common Equity	576	552	523	498	480	463	436	765
Total Common Equity	576	552	523	498	480	463	436	765
Common Stock	760	779	795	813	873	894	917	1,481
Retained Earnings	-176	-222	-265	-310	-392	-429	-482	-716
Accumulated Other Comprehensive Income / (Loss)	-9.12	-5.43	-6.09	-4.79	-1.72	-1.32	0.34	-0.01

This table displays calculated financial ratios and metrics derived from IonQ's official financial filings.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	0.00%	430.30%	98.02%	95.41%
EBITDA Growth	0.00%	-637.69%	50.01%	-242.04%	-92.72%
EBIT Growth	0.00%	-588.86%	47.67%	-218.40%	-97.60%
NOPAT Growth	0.00%	-145.90%	-121.64%	-83.98%	-47.35%
Net Income Growth	0.00%	-588.45%	54.32%	-225.23%	-110.21%
EPS Growth	0.00%	-492.31%	67.53%	-212.00%	-100.00%
Operating Cash Flow Growth	0.00%	-121.01%	-68.44%	-76.32%	-34.10%
Free Cash Flow Firm Growth	0.00%	0.00%	-5,601.50%	-7.17%	-40.89%
Invested Capital Growth	0.00%	-164.54%	368.00%	-4.44%	-31.09%
Revenue Q/Q Growth	0.00%	0.00%	24.06%	11.64%	14.96%
EBITDA Q/Q Growth	0.00%	0.00%	49.81%	-16.05%	-85.07%
EBIT Q/Q Growth	0.00%	0.00%	48.49%	-16.66%	-83.33%
NOPAT Q/Q Growth	0.00%	0.00%	-17.52%	-24.29%	-11.01%
Net Income Q/Q Growth	0.00%	0.00%	53.33%	-17.29%	-93.32%
EPS Q/Q Growth	0.00%	0.00%	62.12%	-14.71%	-92.59%
Operating Cash Flow Q/Q Growth	0.00%	-3.92%	-29.67%	-17.46%	-13.78%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-32.38%	17.39%
Invested Capital Q/Q Growth	0.00%	0.00%	53.27%	117.04%	-62.10%
Profitability Metrics	-	-	-	-	-
Gross Margin	0.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	0.00%	-4,915.39%	-463.36%	-800.36%	-789.33%
Operating Margin	0.00%	-1,843.12%	-770.34%	-715.70%	-539.68%
EBIT Margin	0.00%	-5,061.93%	-499.54%	-803.22%	-812.20%
Profit (Net Income) Margin	0.00%	-5,058.89%	-435.82%	-715.77%	-769.96%
Tax Burden Percent	100.00%	100.00%	100.00%	100.03%	100.02%
Interest Burden Percent	100.00%	99.94%	87.24%	89.09%	94.78%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-868.67%	-629.66%	-371.33%	-662.91%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-843.90%	-631.68%	-361.80%	-621.70%
Return on Net Nonoperating Assets (RNNOA)	0.00%	835.74%	621.29%	341.37%	586.57%
Return on Equity (ROE)	-28.72%	-32.93%	-8.37%	-29.96%	-76.34%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-334.67%	-366.79%	-626.10%
Operating Return on Assets (OROA)	0.00%	-30.25%	-8.97%	-30.75%	-65.88%
Return on Assets (ROA)	0.00%	-30.23%	-7.82%	-27.40%	-62.46%
Return on Common Equity (ROCE)	-28.72%	-32.93%	-8.37%	-29.96%	-76.34%
Return on Equity Simple (ROE_SIMPLE)	-28.72%	-17.96%	-8.54%	-32.53%	-86.40%
Net Operating Profit after Tax (NOPAT)	-11	-27	-60	-110	-163
NOPAT Margin	0.00%	-1,290.18%	-539.23%	-500.99%	-377.77%
Net Nonoperating Expense Percent (NNEP)	-12.21%	-24.77%	2.02%	-9.53%	-41.21%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-10.56%	-22.77%	-42.39%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.00%	654.45%	323.12%	230.12%	164.96%
R&D to Revenue	0.00%	963.70%	395.09%	418.84%	317.66%
Operating Expenses to Revenue	0.00%	1,943.12%	870.34%	815.70%	639.68%
Earnings before Interest and Taxes (EBIT)	-15	-106	-56	-177	-350
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-14	-103	-52	-176	-340
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	5.44	1.21	5.23	23.55
Price to Tangible Book Value (P/TBV)	0.00	5.49	1.24	5.41	26.24
Price to Revenue (P/Rev)	0.00	1,531.46	61.98	115.07	209.85
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	5.00	71.58	433.14
Enterprise Value to Revenue (EV/Rev)	0.00	1,244.38	13.66	94.38	201.40
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	1,411.79	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.67	-0.99	-0.98	-0.94	-0.94
Leverage Ratio	1.13	1.09	1.07	1.09	1.22
Compound Leverage Factor	1.13	1.09	0.93	0.97	1.16
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.99%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	38.08	13.86	21.05	40.29
Noncontrolling Interest Sharing Ratio	0.01%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	20.51	54.65	18.43	10.49	10.50
Quick Ratio	19.41	53.99	17.81	9.87	9.71
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	1.85	-102	-109	-154
Operating Cash Flow to CapEx	-107.56%	-282.19%	-388.17%	-431.58%	-482.64%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.01	0.02	0.04	0.08
Accounts Receivable Turnover	0.00	3.83	5.57	2.99	3.98
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.14	0.50	0.69	0.95
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	95.38	65.57	122.20	91.75
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	95.38	65.57	122.20	91.75
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	18	-11	30	29	20
Invested Capital Turnover	0.00	0.67	1.17	0.74	1.75
Increase / (Decrease) in Invested Capital	0.00	-29	42	-1.35	-9.04
Enterprise Value (EV)	0.00	2,612	152	2,080	8,675
Market Capitalization	0.00	3,215	690	2,536	9,039
Book Value per Share	$1.42	$3.07	$2.84	$2.37	$1.77
Tangible Book Value per Share	$1.35	$3.04	$2.79	$2.29	$1.59
Total Capital	54	591	568	485	384
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00
Net Debt	-36	-603	-538	-456	-364
Capital Expenditures (CapEx)	11	9.40	12	18	22
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.58	-2.54	-4.33	-2.62	2.43
Debt-free Net Working Capital (DFNWC)	37	520	351	353	343
Net Working Capital (NWC)	37	520	351	353	343
Net Nonoperating Expense (NNE)	4.41	79	-12	47	169
Net Nonoperating Obligations (NNO)	-36	-603	-538	-456	-364
Total Depreciation and Amortization (D&A)	1.44	3.08	4.03	0.63	9.85
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-121.11%	-38.89%	-11.87%	5.64%
Debt-free Net Working Capital to Revenue	0.00%	24,770.18%	3,157.56%	1,600.69%	795.67%
Net Working Capital to Revenue	0.00%	24,770.18%	3,157.56%	1,600.69%	795.67%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.77)	($0.25)	($0.78)	($1.56)
Adjusted Weighted Average Basic Shares Outstanding	0.00	197.67M	197.73M	202.58M	213.03M
Adjusted Diluted Earnings per Share	$0.00	($0.77)	($0.25)	($0.78)	($1.56)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	197.67M	197.73M	202.58M	213.03M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.77)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	137.61M	201.55M	208.23M	222.84M
Normalized Net Operating Profit after Tax (NOPAT)	-11	-27	-60	-110	-163
Normalized NOPAT Margin	0.00%	-1,290.18%	-539.23%	-500.99%	-377.77%
Pre Tax Income Margin	0.00%	-5,058.89%	-435.82%	-715.56%	-769.83%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from IonQ's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1,085.84%	131.01%	119.41%	111.46%	122.08%	60.39%	76.94%	106.36%	102.09%	91.78%	-0.21%
EBITDA Growth	-77.43%	70.27%	-788.01%	-3,247.74%	-98.88%	-112.71%	-34.82%	17.20%	-9.40%	-339.33%	25.15%
EBIT Growth	-76.19%	70.58%	-552.93%	-1,568.21%	-91.15%	-115.93%	-40.59%	12.86%	-14.48%	-337.60%	16.33%
NOPAT Growth	-136.71%	-117.98%	-53.27%	-74.82%	-69.38%	-130.49%	-88.69%	-47.91%	-25.93%	-42.34%	-43.13%
Net Income Growth	-62.26%	74.83%	-546.75%	-2,543.17%	-86.84%	-124.72%	-44.82%	14.08%	-17.15%	-382.05%	18.54%
EPS Growth	0.00%	80.39%	-600.00%	-2,100.00%	-83.33%	-100.00%	-35.71%	18.18%	-9.09%	-375.00%	26.32%
Operating Cash Flow Growth	-6.87%	-218.25%	-65.97%	-86.94%	-73.30%	-78.57%	-48.14%	-65.23%	13.77%	-48.06%	-61.37%
Free Cash Flow Firm Growth	-400.70%	0.00%	-118.12%	-107.52%	65.50%	36.94%	-29.57%	-413.67%	-232.03%	-22.99%	-35.83%
Invested Capital Growth	166.98%	368.00%	682.55%	-34.18%	-32.52%	-4.44%	69.62%	336.56%	294.61%	-31.09%	49.80%
Revenue Q/Q Growth	5.94%	37.79%	12.56%	28.70%	11.26%	-0.49%	24.17%	50.11%	8.95%	-5.56%	-35.39%
EBITDA Q/Q Growth	-1,610.12%	13.40%	-46.37%	-54.43%	-1.59%	7.38%	7.22%	5.16%	-34.22%	-271.96%	84.19%
EBIT Q/Q Growth	-793.99%	16.24%	-44.72%	-53.93%	-2.44%	5.38%	5.77%	4.59%	-34.57%	-261.69%	81.98%
NOPAT Q/Q Growth	-31.61%	5.17%	-18.63%	-18.08%	-27.52%	-29.04%	2.89%	7.44%	-8.57%	-45.86%	2.35%
Net Income Q/Q Growth	-1,350.00%	22.25%	-46.61%	-59.92%	-2.50%	6.49%	5.52%	5.13%	-39.76%	-284.79%	84.03%
EPS Q/Q Growth	-1,100.00%	16.67%	-40.00%	-57.14%	0.00%	9.09%	5.00%	5.26%	-33.33%	-295.83%	85.26%
Operating Cash Flow Q/Q Growth	-49.40%	-16.00%	7.36%	-16.44%	-38.51%	-19.52%	23.15%	-29.88%	27.72%	-105.24%	16.24%
Free Cash Flow Firm Q/Q Growth	-131.69%	12.87%	26.37%	63.03%	-45.45%	-59.27%	-51.28%	-46.57%	5.98%	41.01%	-67.08%
Invested Capital Q/Q Growth	-6.99%	53.27%	-12.13%	-47.45%	-4.64%	117.04%	55.96%	35.25%	-13.81%	-62.10%	239.03%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-904.89%	-568.74%	-739.63%	-887.47%	-810.37%	-754.26%	-563.57%	-356.09%	-438.69%	-1,727.87%	-422.71%
Operating Margin	-901.59%	-620.51%	-653.98%	-599.98%	-687.65%	-891.71%	-697.39%	-430.02%	-428.51%	-661.85%	-1,000.25%
EBIT Margin	-942.53%	-573.00%	-736.73%	-881.14%	-811.26%	-771.41%	-585.37%	-372.09%	-459.58%	-1,760.20%	-490.80%
Profit (Net Income) Margin	-868.01%	-489.81%	-637.99%	-792.71%	-730.30%	-686.28%	-522.18%	-330.03%	-423.35%	-1,725.00%	-426.28%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.09%	100.02%	100.02%	100.04%	100.03%	100.01%	100.04%
Interest Burden Percent	92.09%	85.48%	86.60%	89.96%	89.94%	88.95%	89.19%	88.66%	92.09%	97.99%	86.82%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-507.20%	-408.98%	-388.67%	-571.91%	-462.65%	-343.35%	-249.33%	-339.38%	-812.99%	-532.50%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-506.83%	-407.59%	-384.87%	-568.97%	-461.89%	-342.82%	-248.60%	-335.85%	-776.94%	-536.16%
Return on Net Nonoperating Assets (RNNOA)	0.00%	498.49%	396.84%	372.66%	551.37%	435.81%	318.88%	229.61%	312.04%	733.04%	487.39%
Return on Equity (ROE)	-18.34%	-8.70%	-12.15%	-16.01%	-20.54%	-26.85%	-24.47%	-19.71%	-27.34%	-79.94%	-45.11%
Cash Return on Invested Capital (CROIC)	0.00%	-334.67%	-598.22%	-392.67%	-495.87%	-366.79%	-406.45%	-494.19%	-561.75%	-626.10%	-355.48%
Operating Return on Assets (OROA)	-13.71%	-10.29%	-16.32%	-24.16%	-27.33%	-29.53%	-26.21%	-21.22%	-32.39%	-142.79%	-30.32%
Return on Assets (ROA)	-12.63%	-8.79%	-14.13%	-21.74%	-24.61%	-26.27%	-23.38%	-18.82%	-29.84%	-139.93%	-26.33%
Return on Common Equity (ROCE)	-18.34%	-8.70%	-12.15%	-16.01%	-20.54%	-26.85%	-24.47%	-19.71%	-27.34%	-79.94%	-45.11%
Return on Equity Simple (ROE_SIMPLE)	-18.06%	0.00%	-12.97%	-21.73%	-26.98%	0.00%	-35.44%	-35.37%	-39.38%	0.00%	-42.39%
Net Operating Profit after Tax (NOPAT)	-17	-17	-20	-23	-30	-38	-37	-34	-37	-54	-53
NOPAT Margin	-631.11%	-434.36%	-457.79%	-419.99%	-481.35%	-624.20%	-488.17%	-301.02%	-299.96%	-463.30%	-700.18%
Net Nonoperating Expense Percent (NNEP)	-1.15%	-0.37%	-1.39%	-3.80%	-2.94%	-0.76%	-0.54%	-0.72%	-3.53%	-36.05%	3.66%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.91%	-	-	-	-7.86%	-	-	-	-14.13%	-6.92%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	367.32%	238.11%	246.93%	198.19%	226.97%	250.31%	184.91%	114.69%	115.50%	253.29%	314.64%
R&D to Revenue	481.07%	359.73%	378.83%	360.27%	400.90%	517.85%	426.91%	274.18%	267.56%	342.25%	528.06%
Operating Expenses to Revenue	1,001.59%	720.51%	753.98%	699.98%	787.65%	991.71%	797.39%	530.02%	528.51%	761.85%	1,100.25%
Earnings before Interest and Taxes (EBIT)	-26	-22	-32	-49	-50	-47	-44	-42	-57	-206	-37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-25	-22	-32	-49	-50	-46	-43	-41	-54	-202	-32
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.75	1.21	2.24	5.20	6.05	5.23	4.34	3.21	4.29	23.55	6.43
Price to Tangible Book Value (P/TBV)	1.78	1.24	2.29	5.32	6.22	5.41	4.50	3.34	4.48	26.24	6.77
Price to Revenue (P/Rev)	112.57	61.98	92.07	166.15	152.69	115.07	82.10	47.64	49.94	209.85	114.22
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	22.89	5.00	26.72	157.42	188.90	71.58	36.31	17.69	28.16	433.14	62.16
Enterprise Value to Revenue (EV/Rev)	50.62	13.66	53.04	135.05	128.12	94.38	64.95	34.76	39.72	201.40	98.03
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.01	-0.98	-0.97	-0.97	-0.97	-0.94	-0.93	-0.92	-0.93	-0.94	-0.91
Leverage Ratio	1.09	1.07	1.06	1.07	1.09	1.09	1.10	1.11	1.14	1.22	1.12
Compound Leverage Factor	1.00	0.91	0.92	0.96	0.98	0.97	0.98	0.98	1.05	1.20	0.97
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	19.82	14.05	20.94	30.31	26.82	21.82	19.07	15.96	17.26	41.22	34.26
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	21.22	18.43	19.29	16.56	14.12	10.49	11.81	13.15	12.23	10.50	13.17
Quick Ratio	20.81	17.81	18.68	16.00	13.53	9.87	11.09	12.27	11.44	9.71	12.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-67	-58	-43	-16	-23	-37	-56	-82	-77	-45	-76
Operating Cash Flow to CapEx	-688.22%	-907.67%	-681.21%	-689.50%	-419.03%	-310.26%	-450.77%	-323.42%	-408.31%	-889.22%	-988.18%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.01	0.02	0.02	0.03	0.03	0.04	0.04	0.06	0.07	0.08	0.06
Accounts Receivable Turnover	2.58	5.57	11.19	7.78	6.68	2.99	4.45	6.05	10.45	3.98	4.53
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.43	0.50	0.57	0.61	0.65	0.69	0.74	0.81	0.88	0.95	0.92
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	141.53	65.57	32.61	46.93	54.62	122.20	82.06	60.36	34.92	91.75	80.65
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	141.53	65.57	32.61	46.93	54.62	122.20	82.06	60.36	34.92	91.75	80.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	20	30	27	14	13	29	45	61	53	20	68
Invested Capital Turnover	-1.83	1.17	0.89	0.93	1.19	0.74	0.70	0.83	1.13	1.75	0.76
Increase / (Decrease) in Invested Capital	49	42	23	-7.29	-6.45	-1.35	19	47	39	-9.04	23
Enterprise Value (EV)	454	152	714	2,211	2,530	2,080	1,646	1,085	1,488	8,675	4,221
Market Capitalization	1,010	690	1,240	2,720	3,015	2,536	2,080	1,487	1,871	9,039	4,918
Book Value per Share	$2.89	$2.84	$2.74	$2.60	$2.46	$2.37	$2.30	$2.19	$2.04	$1.77	$3.43
Tangible Book Value per Share	$2.85	$2.79	$2.69	$2.54	$2.39	$2.29	$2.22	$2.11	$1.95	$1.59	$3.26
Total Capital	576	568	552	523	498	485	480	463	436	384	765
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-556	-538	-526	-509	-485	-456	-434	-402	-383	-364	-697
Capital Expenditures (CapEx)	1.87	1.64	2.03	2.33	5.32	8.58	4.54	8.22	4.71	4.43	3.34
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-8.62	-4.33	-6.39	-7.96	-8.75	-2.62	-0.13	4.27	-2.63	2.43	0.32
Debt-free Net Working Capital (DFNWC)	397	351	381	368	375	353	375	374	363	343	589
Net Working Capital (NWC)	397	351	381	368	375	353	375	374	363	343	589
Net Nonoperating Expense (NNE)	6.55	2.11	7.72	21	15	3.79	2.58	3.30	15	148	-21
Net Nonoperating Obligations (NNO)	-556	-538	-526	-509	-485	-456	-434	-402	-383	-364	-697
Total Depreciation and Amortization (D&A)	1.04	0.16	-0.12	-0.35	0.06	1.05	1.65	1.82	2.59	3.79	5.15
Debt-free, Cash-free Net Working Capital to Revenue	-96.09%	-38.89%	-47.43%	-48.65%	-44.31%	-11.87%	-0.50%	13.68%	-7.03%	5.64%	0.74%
Debt-free Net Working Capital to Revenue	4,425.01%	3,157.56%	2,833.56%	2,246.16%	1,900.63%	1,600.69%	1,480.81%	1,198.74%	969.00%	795.67%	1,367.04%
Net Working Capital to Revenue	4,425.01%	3,157.56%	2,833.56%	2,246.16%	1,900.63%	1,600.69%	1,480.81%	1,198.74%	969.00%	795.67%	1,367.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.12)	($0.10)	($0.14)	($0.22)	($0.22)	($0.20)	($0.19)	($0.18)	($0.24)	($0.95)	($0.14)
Adjusted Weighted Average Basic Shares Outstanding	198.30M	197.73M	200.11M	201.43M	203.39M	202.58M	208.16M	211.64M	214.31M	213.03M	228.76M
Adjusted Diluted Earnings per Share	($0.12)	($0.10)	($0.14)	($0.22)	($0.22)	($0.20)	($0.19)	($0.18)	($0.24)	($0.95)	($0.14)
Adjusted Weighted Average Diluted Shares Outstanding	198.30M	197.73M	200.11M	201.43M	203.39M	202.58M	208.16M	211.64M	214.31M	213.03M	228.76M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	199.96M	201.55M	201.03M	202.60M	204.70M	208.23M	211.45M	214.08M	216.39M	222.84M	247.78M
Normalized Net Operating Profit after Tax (NOPAT)	-17	-17	-20	-23	-30	-38	-37	-34	-37	-54	-53
Normalized NOPAT Margin	-631.11%	-434.36%	-457.79%	-419.99%	-481.35%	-624.20%	-488.17%	-301.02%	-299.96%	-463.30%	-700.18%
Pre Tax Income Margin	-868.01%	-489.81%	-637.99%	-792.71%	-729.66%	-686.13%	-522.08%	-329.90%	-423.23%	-1,724.83%	-426.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Key Financial Trends

In Q1 2025, IonQ delivered mixed results as ongoing operational losses continued but were partially offset by strong investment income and a significant equity raise. Revenue in the quarter was flat year-over-year but down sharply from Q4. The company’s balance sheet strengthened considerably, bolstering its liquidity to fund further R&D and commercialization efforts.

Improved net loss and EPS: Net loss narrowed to $32.3 M (–$0.14 per share) in Q1 vs. $202.0 M (–$0.95) in Q4 2024, driven by better non-operating income.
Strong non-operating income: Other income of $38.5 M in Q1 turned around a $128.6 M net expense in Q4, lifting pre-tax income to –$32.2 M from –$202.0 M.
Bolstered liquidity: Cash & equivalents of $159.7 M plus $428.6 M in short-term investments gives total liquid assets of $588.3 M, up from $368.7 M at year-end.
Flat revenue year-over-year: Q1 revenue was $7.57 M vs. $7.58 M in Q1 2024, indicating stabilizing sales after prior swings.
Continued R&D investment: R&D spend of $39.95 M (53% of revenue) underscores ongoing technology development focus.
Gross margin remains 100%: No cost of revenue, but operating margin was –10.0% vs. –6.6% in Q4, reflecting expense leverage.
Sharp Q/Q revenue decline: Revenue fell 35.4% from $11.71 M in Q4 2024 to $7.57 M, signaling a slowdown in bookings or deliveries.
High cash burn: Free cash flow to firm was –$75.5 M, with operating cash flow of –$33.0 M, highlighting continued negative cash generation.
Elevated operating expenses: Total operating expenses of $83.25 M remain far above revenue, limiting path to profitability.
Dilution from equity issuance: The company raised $362.3 M in Q1 via common equity, substantially diluting existing shareholders.

07/09/25 02:25 AMAI Generated. May Contain Errors.

Frequently Asked Questions About IonQ's Financials

When does IonQ's fiscal year end?

According to the most recent income statement we have on file, IonQ's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has IonQ's net income changed over the last 4 years?

IonQ's net income appears to be on an upward trend, with a most recent value of -$331.65 million in 2024, rising from -$15.42 million in 2020. The previous period was -$157.77 million in 2023. Check out IonQ's forecast to explore projected trends and price targets.

What is IonQ's operating income?

IonQ's total operating income in 2024 was -$232.46 million, based on the following breakdown:

Total Gross Profit: $43.07 million
Total Operating Expenses: $275.53 million

How has IonQ's revenue changed over the last 4 years?

Over the last 4 years, IonQ's total revenue changed from $0.00 in 2020 to $43.07 million in 2024, a change of 4,307,300,000.0%.

How much debt does IonQ have?

IonQ's total liabilities were at $124.53 million at the end of 2024, a 81.6% increase from 2023, and a 1,738.0% increase since 2020.

How much cash does IonQ have?

In the past 4 years, IonQ's cash and equivalents has ranged from $35.67 million in 2023 to $399.03 million in 2021, and is currently $54.39 million as of their latest financial filing in 2024.

How has IonQ's book value per share changed over the last 4 years?

Over the last 4 years, IonQ's book value per share changed from 1.42 in 2020 to 1.77 in 2024, a change of 25.2%.

Related Companies

This page (NYSE:IONQ) was last updated on 7/9/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

IonQ (IONQ) Financials

Key Financial Trends

Frequently Asked Questions About IonQ's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

IonQ (IONQ) Financials

Annual Income Statements for IonQ

Quarterly Income Statements for IonQ

Annual Cash Flow Statements for IonQ

Quarterly Cash Flow Statements for IonQ

Annual Balance Sheets for IonQ

Quarterly Balance Sheets for IonQ

Annual Metrics And Ratios for IonQ

Quarterly Metrics And Ratios for IonQ

Key Financial Trends

Frequently Asked Questions About IonQ's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools