Quantum technology company beats third-quarter expectations, raises 2026 revenue guidance to $515 million, and reports a growing $1.2 billion backlog amid expanding commercial adoption.
IonQ (IONQ) reported record third-quarter financial results Thursday, driven by accelerating demand for quantum computing technologies, expanding commercial partnerships, and contributions from its SkyWater acquisition.
The company generated quarterly revenue of $173.8 million, representing a 336% increase year over year and surpassing Wall Street expectations of approximately $126.9 million. The performance marked IonQ’s sixth consecutive quarter of record revenue.
IonQ’s platform division generated $90.3 million, increasing 127% year over year, while its SkyWater Foundry Services segment contributed $83.5 million.
Following the results, IonQ raised its full-year 2026 revenue guidance to between $505 million and $515 million, reflecting expectations for continued commercial momentum. The company also anticipates 110% year-over-year growth in quantum computing revenue.
CEO Niccolo de Masi highlighted increasing demand for IonQ’s quantum technologies and the benefits of its vertically integrated manufacturing capabilities.
IonQ’s remaining performance obligations more than doubled to $1.2 billion, strengthening visibility into future revenue.
The company also announced significant technological and commercial milestones, including advancing to Stage C of DARPA’s Quantum Benchmarking Initiative, potentially worth up to $300 million.
Additionally, Nvidia plans to deploy IonQ’s Superion 256 quantum computer at its Accelerated Quantum Research Center, further strengthening the company’s presence in advanced computing infrastructure.
Despite rapid revenue growth, IonQ reported an adjusted EBITDA loss of $133.6 million and an adjusted loss of $0.29 per share.
The company reported approximately $3.7 billion in pro forma cash, cash equivalents, and investments following its October equity offering.
With expanding partnerships, growing demand, and strengthened financial resources, IonQ continues positioning itself as a major participant in the emerging commercial quantum computing industry.
