IONQ IonQ

XNYS Down Alert

Technology

· How we analyze

About the company

IonQ develops quantum computers based on trapped ions and offers computing time through large cloud platforms. Acquisitions added quantum networking and sensing. Revenue is still small relative to its market value. As of Oct 16, 2026

Fact sheet (from the annual report) IT systems integration · College Park, USA

IonQ develops quantum computers as well as products for quantum networking, quantum sensing and quantum security. The company sells quantum computers and complementary products and offers access through the clouds of Amazon, Microsoft and Google as well as, for selected customers, through its own cloud. In addition, there are consulting services that support customers in applying the technology. Through a network of satellites, the company also supplies data such as radar images. In 2025 it acquired Oxford Ionics, id Quantique, Vector Atomic and Capella Space, among others.

Automatically summarized from SEC annual report (10-K, filed Feb 25, 2026) (website of the US Securities and Exchange Commission) · reviewed Oct 17, 2026

Price performance at a glance

Last 30 trading days
  • Today +7.1%
  • 7 days +5.4%
  • 30 days −27.6%
  • 1 year −47.5%
Day range (last trading day)
−5.7%Price at 84% of the range+1.1%
52-week range
−21.4%Price at 15% of the range+123.5%
Distance from the all-time high
−61.1%

Our own calculation from the exchange’s daily candles, as of Oct 27, 2026. “All-time” applies since the start of this series, not to the whole market. Changes in percent; the TradingView chart shows prices. “Today” = change of the last trading day versus the previous day. Not investment advice.

Gap with volume · Analysis method

This method currently detects no pattern for IONQ. The check runs daily after the close.

You see new patterns immediately from Watcher, on the free plan 2 days after they form. Plans and pricing

What does the pattern show?

What is this? After strong news, usually earnings, the price opened above the previous day’s high and closed much higher on heavy volume. Such moves often continue for a few more days.

This is a calculated analysis, not a forecast and not a call to buy. Risk notice and investment advice

Fundamental analysis

IonQ · Sector Technology · amounts in USD

Information only – does not affect the other analysis methods, not investment advice. Source: SEC filings, As of Feb 25, 2026.

Quality checks

Four angles on the annual figures. Each check counts how many disclosed criteria are met – criteria without data do not count. The bars show where the company ranks on each figure among the stocks we cover and within its sector.

Fiscal year to Dec 31, 2025

Quality 2 of 8 met

  • met: Gross margin above 40% cost of revenue excludes depreciation – the margin tends to be overstated 40.4%
  • not met: Operating margin above 15% −487.4%
  • not met: Net margin above 10% −392.6%
  • not met: Return on equity above 15% −13.4%
  • not met: Free cash flow margin above 10% −230.4%
  • not met: Profit in each of the last 5 fiscal years 0 of 5
  • not met: Free cash flow positive in each of the last 3 fiscal years 0 of 3
  • met: Equity ratio above 30% 57.8%
Gross margin

40.4% Fiscal year 2025

Rank 35 of 100: higher than 35% of 153 peers (All). medium.

Rank 27 of 100: higher than 27% of 57 peers (Sector). weak.

Median Technology: 56.1%

Share of revenue left after the direct cost of the products sold.

Operating margin

−487.4% Fiscal year 2025

Rank 3 of 100: higher than 3% of 192 peers (All). weak.

Rank 4 of 100: higher than 4% of 60 peers (Sector). weak.

Median Technology: 14.2%

Operating income divided by revenue: what the core business earns before interest and taxes.

Net margin

−392.6% Fiscal year 2025

Rank 4 of 100: higher than 4% of 237 peers (All). weak.

Rank 6 of 100: higher than 6% of 63 peers (Sector). weak.

Median Technology: 12.5%

Profit after all costs, interest and taxes divided by revenue.

Return on equity

−13.4% Fiscal year 2025

Rank 11 of 100: higher than 11% of 218 peers (All). weak.

Rank 20 of 100: higher than 20% of 61 peers (Sector). weak.

Median Technology: 13.5%

Net income divided by equity at fiscal year end.

Return on assets

−7.8% Fiscal year 2025 (total assets at year end)

Rank 10 of 100: higher than 10% of 238 peers (All). weak.

Rank 18 of 100: higher than 18% of 63 peers (Sector). weak.

Median Technology: 5.9%

Net income divided by total assets at fiscal year end.

Equity ratio

57.8% Fiscal year 2025

Rank 80 of 100: higher than 80% of 239 peers (All). strong.

Rank 64 of 100: higher than 64% of 63 peers (Sector). medium.

Median Technology: 51.6%

Equity as a share of total assets. Usually low for banks.

Free cash flow margin

−230.4% Fiscal year 2025

Rank 6 of 100: higher than 6% of 213 peers (All). weak.

Rank 9 of 100: higher than 9% of 62 peers (Sector). weak.

Median Technology: 19.0%

Free cash flow divided by revenue.

Free cash flow

−299.6M USD Fiscal year 2025

Operating cash flow minus capital expenditure on property and equipment.

Growth 1 of 1 met · 6 without data

  • no data: Over 3 years, revenue grew by more than 5% per year no comparable figures over 3 years
  • no data: Over 5 years, revenue grew by more than 5% per year no comparable figures over 5 years
  • no data: Over 10 years, revenue grew by more than 5% per year no comparable figures over 10 years
  • no data: Over 3 years, EPS grew by more than 5% per year not computable (loss in the first or last year, or figures missing)
  • no data: Over 5 years, EPS grew by more than 5% per year not computable (loss in the first or last year, or figures missing)
  • no data: Revenue rose in at least 4 of the last 5 fiscal years fewer than 6 fiscal years reported
  • met: Revenue rose in the last fiscal year +201.9%

Dividend 0 of 1 met · 6 without data

  • not met: Pays a dividend no dividend per share reported for the last fiscal year
  • no data: Payout ratio at most 60% of earnings pays no dividend
  • no data: Dividend paid in each of the last 5 fiscal years pays no dividend
  • no data: Dividend per share never lowered in the last 5 fiscal years pays no dividend
  • no data: Dividend per share higher than 5 years ago pays no dividend
  • no data: Free cash flow per share covers the dividend pays no dividend
  • no data: Dividends paid over the last 5 years covered by free cash flow pays no dividend

Financial strength 2 of 4 met · 2 without data

  • not met: Piotroski F-Score at least 7 of 9 3 of 8 · 1 without data
  • no data: Long-term debt no higher than equity no long-term debt reported
  • met: Current assets cover current liabilities 15.50
  • met: Positive equity 3.8B USD
  • no data: In 5 years, share count up by at most 5% no comparable share count 5 years ago
  • not met: Free cash flow positive in the last fiscal year −299.6M USD
Piotroski F-Score

3 of 8 Fiscal year 2025

No rank: not all 9 criteria have data.

Nine yes/no tests on profit, cash flow, debt, liquidity and efficiency compared with the prior year.

Liquidity (current ratio)

15.50 at fiscal year end

Rank 97 of 100: higher than 97% of 215 peers (All). strong.

Rank 96 of 100: higher than 96% of 63 peers (Sector). strong.

Median Technology: 2.02

Current assets divided by current liabilities.

Change in share count

+41.8% in 3 years

No rank: too few peers or not computed yet.

Change in diluted share count. Negative = share buybacks, positive = new shares.

The 9 criteria of the Piotroski F-Score
  • not met: Profit in the last fiscal year (positive return on assets)
  • not met: Positive operating cash flow
  • not met: Return on assets higher than the prior year
  • met: Operating cash flow higher than net income
  • no data: Long-term debt relative to total assets fell
  • met: Liquidity (current assets / current liabilities) rose
  • not met: No additional shares (diluted share count did not rise)
  • not met: Gross margin higher than the prior year
  • met: Revenue relative to total assets higher than the prior year

Last fiscal year compared with the one before. Returns and revenue per total assets use total assets at the start of the year; leverage = long-term financial debt divided by total assets at year end; new shares via the average diluted share count.

Price-based criteria (P/E, dividend yield) are shown to signed-in users.

Computed automatically from SEC annual reports – not investment advice. Describes the reported figures; points are not a rating of the stock. Rank 0–100 against the 239 stocks we cover and against the sector (from 5 peers); the stronger side is always on the right.

In short

  • Light red: Loss in the last fiscal year.
  • Light red: Profit in 0 of 6 fiscal years.

Summarized from the lights below. Describes the reported figures – not a recommendation to buy or sell.

RevenueNet income Net margin (below) in USD
  1. Fiscal year 2020 (Jan 1, 2020 – Dec 31, 2020): Revenue 0.0 USD · Net income −15.4M USD · Net margin not available
  2. Fiscal year 2021 (Jan 1, 2021 – Dec 31, 2021): Revenue 2.1M USD · Net income −106.2M USD · Net margin −5,058.9%
  3. Fiscal year 2022 (Jan 1, 2022 – Dec 31, 2022): Revenue 1.2B USD · Net income −48.5M USD · Net margin −3.9%
  4. Fiscal year 2023 (Jan 1, 2023 – Dec 31, 2023): Revenue 22.0M USD · Net income −157.8M USD · Net margin −715.8%
  5. Fiscal year 2024 (Jan 1, 2024 – Dec 31, 2024): Revenue 43.1M USD · Net income −331.6M USD · Net margin −770.0%
  6. Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 130.0M USD · Net income −510.4M USD · Net margin −392.6%

Fiscal year 2025 (Jan 1, 2025 – Dec 31, 2025): Revenue 130.0M USD · Net income −510.4M USD · Net margin −392.6%

Figures over time

Where the money of a fiscal year goes and how margins, returns, balance sheet, cash flow and share count developed over up to 10 years. Each chart has one sentence saying what the trend shows.

Money flow in fiscal year 2025

Of 100 USD of revenue, 40.4 USD gross profit remained.

Operating loss: −487.4% of revenue

Money flow as a table
Fiscal year 2025, amounts in USD, share of revenue
ItemAmountof revenue
Revenue130.0M USD100.0%
Gross profit52.5M USD40.4%
Cost of revenue77.5M USD59.6%
Operating expenses686.2M USD527.8%

Taxes, interest and other items are not available separately in the SEC data; they are combined as the difference.

Margins

Gross margin Margins above ±200% hidden (revenue very small relative to the result).
  1. Fiscal year 2020: Gross margin not available
  2. Fiscal year 2021: Gross margin 50.5%
  3. Fiscal year 2022: Gross margin not available
  4. Fiscal year 2023: Gross margin 63.2%
  5. Fiscal year 2024: Gross margin 52.2%
  6. Fiscal year 2025: Gross margin 40.4%

Returns

Return on equity rose in 4 years from −18.0% to −13.4%.

Return on equityReturn on assets
  1. Fiscal year 2020: Return on equity not available · Return on assets not available
  2. Fiscal year 2021: Return on equity −18.0% · Return on assets −16.5%
  3. Fiscal year 2022: Return on equity −8.5% · Return on assets −8.1%
  4. Fiscal year 2023: Return on equity −32.5% · Return on assets −28.5%
  5. Fiscal year 2024: Return on equity −86.4% · Return on assets −65.2%
  6. Fiscal year 2025: Return on equity −13.4% · Return on assets −7.8%

Equity and long-term debt

The equity ratio fell in 4 years from 92.1% to 57.8%.

Equity in USD Long-term debt, depending on the filing, includes the current portion or leases.
  1. Fiscal year 2020: Equity not available
  2. Fiscal year 2021: Equity 591.2M USD
  3. Fiscal year 2022: Equity 568.2M USD
  4. Fiscal year 2023: Equity 485.0M USD
  5. Fiscal year 2024: Equity 383.9M USD
  6. Fiscal year 2025: Equity 3.8B USD

Liquidity (current ratio)

The current ratio fell in 4 years from 54.65 to 15.50.

Current ratio
  1. Fiscal year 2020: Current ratio not available
  2. Fiscal year 2021: Current ratio 54.65
  3. Fiscal year 2022: Current ratio 18.43
  4. Fiscal year 2023: Current ratio 10.49
  5. Fiscal year 2024: Current ratio 10.50
  6. Fiscal year 2025: Current ratio 15.50

Cash flow

Free cash flow fell in 5 years from −22.0M USD to −299.6M USD.

Operating cash flowCapital expenditureFree cash flow in USD
  1. Fiscal year 2020: Operating cash flow −12.0M USD · Capital expenditure 10.0M USD · Free cash flow −22.0M USD
  2. Fiscal year 2021: Operating cash flow −26.5M USD · Capital expenditure 7.8M USD · Free cash flow −34.3M USD
  3. Fiscal year 2022: Operating cash flow −44.7M USD · Capital expenditure 9.3M USD · Free cash flow −54.0M USD
  4. Fiscal year 2023: Operating cash flow −78.8M USD · Capital expenditure 13.7M USD · Free cash flow −92.5M USD
  5. Fiscal year 2024: Operating cash flow −105.7M USD · Capital expenditure 18.0M USD · Free cash flow −123.7M USD
  6. Fiscal year 2025: Operating cash flow −283.2M USD · Capital expenditure 16.4M USD · Free cash flow −299.6M USD

Share count

The share count rose in 4 years by 103.7% – more new shares were issued than repurchased (dilution).

Diluted share count
  1. Fiscal year 2020: Diluted share count not available
  2. Fiscal year 2021: Diluted share count 137.6M
  3. Fiscal year 2022: Diluted share count 197.7M
  4. Fiscal year 2023: Diluted share count 202.6M
  5. Fiscal year 2024: Diluted share count 213.0M
  6. Fiscal year 2025: Diluted share count 280.3M

From annual reports filed with the SEC (10-K, 20-F, 40-F) as first reported, share count adjusted for splits; obvious filing errors (e.g. wrong unit, outliers against both neighbouring years) are hidden. Describes the reported figures – not investment advice.

Dividends and share repurchases

How much the company returns to its shareholders – as dividends or by repurchasing its own shares – and whether free cash flow supports it.

Dividend per share
none pays no dividend

Dividends paid, repurchases and new shares issued from the cash flow statement of annual reports filed with the SEC (as first reported). Describes the reported figures – not investment advice.

Valuation over time

Price-based valuation (P/E, P/S, price/free cash flow and dividend yield per fiscal year, compared with its own average) for signed-in users.

Sector comparison

IonQ next to 8 stocks of the sector Technology we cover that are closest in revenue. Click a column header to sort the table.

Sector comparison IONQ, sector Technology; last row: sector median
Symbol Revenue (FY) Growth 5 yrsGross marginOp. marginNet marginROEEquity ratioFCF marginPiotroski
NBIS Nebius Group 529.8M USD –68.6%−115.5%15.6%1.8%37.0%−694.8%–
AAOI Applied Optoelectronics 455.7M USD +14.2%30.0%−12.0%−8.4%−5.2%62.8%−77.6%5/9
AI C3.ai 250.3M USD +6.4%30.9%−199.2%−187.9%−71.9%80.1%−76.8%–
CIFR Cipher Mining 223.9M USD –63.7%−188.2%−367.2%−102.1%18.8%−310.7%3/9
WULF TeraWulf 168.5M USD –39.2%−110.5%−392.6%–2.1%−702.5%1/9
IONQ IonQ this stock 130.0M USD –40.4%−487.4%−392.6%−13.4%57.8%−230.4%–
AXTI AXT 88.3M USD −1.5%12.7%−24.9%−24.1%−7.8%63.0%−21.3%–
ONDS Ondas Holdings 50.7M USD +87.9%39.7%−115.1%−260.7%−30.2%38.6%−80.4%–
DVLT Datavault AI 39.1M USD +74.7%77.8%−83.1%−202.1%−33.2%86.6%−61.4%5/9
Median of the sector 63 symbols 11.0B USD +14.5%56.1%14.2%12.5%13.5%51.6%19.0%6/9

Growth 5 yrs = revenue growth per year over 5 fiscal years · Op. margin = operating margin · ROE = return on equity · FCF = free cash flow · Piotroski = F-Score (only with all 9 criteria).

Figures of the last fiscal year from SEC annual reports (peers as of Oct 28, 2026). Median across all companies of the sector we cover (from 5 stocks; several share classes of one company count once). Signed-in users also see P/E, P/S and dividend yield in the comparison. Describes the reported figures – not investment advice.

Key figures with traffic lights

Each light follows a simple, disclosed rule. The comparison is with the sector median of all 97 symbols in the Technology sector on our list (current members of the S&P 500 and other lists).

Revenue growth

Light gray: not computable

– per year, last 5 years

Sector Technology: median +13.5% (88 symbols)

What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net income (total)

Light gray: not computable

– per year, last 5 years

Sector Technology: median +13.3% (62 symbols)

per share: not available

What does this mean? There was a loss in the first or last year. An annual growth rate cannot be calculated meaningfully then.

Light rule: Green: grows at least as fast as the sector median (without a sector comparison: grows) · Yellow: grows more slowly · Red: shrinks.

Net margin

Light red: Loss

−392.6% last fiscal year

Sector Technology: median 12.5% (97 symbols)

What does this mean? Of every 100 USD in revenue there was no profit but a loss of 392.55 USD.

Light rule: Green: at least the sector median (without a sector comparison: profit) · Yellow: profit, but below the median · Red: loss.

Debt / equity

Light gray: not available

– latest balance sheet

Sector Technology: median 0.45 (79 symbols)

What does this mean? No usable figure: reported financial debt or positive equity for the same balance sheet date is missing.

Light rule: Green: at most the sector median · Yellow: up to twice the median · Red: more than twice · Gray: without a sector comparison.

Payout ratio

Light gray: none found

– Dividend / earnings per share

Sector Technology: median 30% (36 symbols)

What does this mean? The loaded SEC filings of the last two fiscal years contain no dividend per share. Either the company pays none, or it reports it under a different tag.

Light rule: Green: up to 60% of earnings · Yellow: up to 100% · Red: more than earnings or a dividend despite a loss · Gray for real estate (REITs). The sector median is for comparison only.

Profitable years

Light red: 6 loss years

0 of 6 fiscal years with a profit

What does this mean? In 0 of the last 6 fiscal years the bottom line showed a profit. 6 years ended with a loss.

Light rule: Green: profit in every year · Yellow: one loss year · Red: several loss years (at least 3 years needed).

Last fiscal year and 13F

Information, not a trading signal · Source: SEC EDGAR
Revenue (FY)
130.0M USD
Revenue vs. prior year
+201.9%
Net income (FY)
−510.4M USD
Net income vs. prior year
–
EPS (FY)
-1.82 USD
13F funds with a position
–
Funds vs. prior quarter
–
Shares held vs. prior quarter
–
Fiscal year to Dec 31, 2025 · 10-K filed Feb 25, 2026 · Price-based figures (P/E, P/S, dividend yield, market cap) only when logged in. · Values as first reported; debt = reported financial debt (US GAAP: long-term). 13F: reporting date Jun 30, 2026, 9 tracked funds have filed (latest Aug 14, 2026), filed with up to 45 days of delay. Stock positions only; comparison with Mar 31, 2026 only across funds that filed for both quarters.
All figures as a table
Fiscal years (amounts in USD, per share in USD)
YearEndRevenueNet income MarginEarnings per shareDividend per sharePayout
2025Dec 31, 2025 130.0M−510.4M −392.6% −1.82 – –
2024Dec 31, 2024 43.1M−331.6M −770.0% −1.56 – –
2023Dec 31, 2023 22.0M−157.8M −715.8% −0.78 – –
2022Dec 31, 2022 1.2B−48.5M −3.9% −0.25 – –
2021Dec 31, 2021 2.1M−106.2M −5,058.9% −0.77 – –
2020Dec 31, 2020 0.0−15.4M – – – –
Quarters (amounts in USD, per share in USD)
QuarterEndRevenueNet income MarginEarnings per shareDividend per sharePayout
Q2/26Jun 30, 2026 80.1M−1.9B −2,333.2% −5.08 – –
Q1/26Mar 31, 2026 64.7M805.4M 1,245.4% 2.07 – –
Q4/25*Dec 31, 2025 61.9M753.7M 1,217.8% – – –
Q3/25Sep 30, 2025 39.9M−1.1B −2,646.3% −3.58 – –
Q2/25Jun 30, 2025 20.7M−176.8M −854.5% −0.70 – –
Q1/25Mar 31, 2025 7.6M−32.3M −426.3% −0.14 – –
Q4/24*Dec 31, 2024 11.7M−202.0M −1,725.0% – – –
Q3/24Sep 30, 2024 12.4M−52.5M −423.4% −0.24 – –
Q2/24Jun 30, 2024 11.4M−37.6M −330.0% −0.18 – –
Q1/24Mar 31, 2024 7.6M−39.6M −522.2% −0.19 – –
Q4/23*Dec 31, 2023 6.1M−41.9M −686.3% – – –
Q3/23Sep 30, 2023 6.1M−44.8M −730.3% −0.22 – –

* Q4 derived: fiscal year minus the 9-month value (EPS cannot be derived this way); may be distorted by restatements.

How we calculate: values as first reported to the SEC (later corrections are left out), a fixed order of reporting tags per figure, partial sums are never added up. Growth per year over 5 years (otherwise 3 years). Quarters are labeled by the calendar quarter in which they end.

Insiders

All insider transactions
Insider purchases and sales on the market over 3, 6 and 12 months
PeriodPurchasesSalesNet
3 months $00 people $89.6K1 person −$89.6K
6 months $00 people $791.1K4 people −$791.1K
12 months $224.8K1 person $7.2M5 people −$7.0M

Latest transactions

  • Sep 10, 2026 Raymond John w Director Open-market sale · 10b5-1 plan 2,407 shares · $89.6K · SEC
  • Jun 18, 2026 Toledano Gabrielle B Director Open-market sale · 10b5-1 plan 2,757 shares · $151.7K · SEC
  • Jun 18, 2026 Chou Kathryn K. Director Open-market sale · 10b5-1 plan 2,757 shares · $151.7K · SEC
  • Jun 18, 2026 Raymond John w Director Open-market sale · 10b5-1 plan 3,815 shares · $209.9K · SEC
  • May 6, 2026 Cardillo Robert T. Director Open-market sale · 10b5-1 plan 3,773 shares · $188.3K · SEC
  • Apr 16, 2026 Cardillo Robert T. Director Open-market sale · 10b5-1 plan 2,500 shares · $112.3K · SEC

Source: mandatory filings with the SEC (Form 4), open-market purchases and sales only. General information, not investment advice.

Trend score -90

Price vs. EMA 50-15
Price vs. EMA 200-15
EMA 50 vs. EMA 200-20
ADX (trend strength)-15
Highs and lows-10
Relative strength-15

Volatility and trend strength

ADX 14 (trend strength)29.9
Rel. strength 60 d−16.0%

ATR and moving averages as price values only when logged in.

More stocks from Technology

All symbols in this sector

News

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