COLLEGE PARK, Md., August 06, 2025 -- IonQ, the leading commercial quantum computing and networking company, today announced financial results for the quarter ended June 30, 2025.

"I am pleased to report that we beat the top end of guidance for Q2 revenue by 15%, and strengthened our balance sheet via the largest equity investment from a single institution in the quantum industry. We also made very tangible progress towards delivering our #AQ64 application performance benchmark, with strong indications that it will be achieved in the near term.”

“Via our closed acquisition of Lightsynq, along with our proposed acquisition of Oxford Ionics, we have created the most advanced and powerful quantum computing and networking roadmap in the world," said Niccolo de Masi, Chairman and CEO of IonQ. "The combination of IonQ hardware and software expertise and Oxford's implementation of ion-trap-on-a-chip provides the team, IP, technology, and momentum to achieve 800 logical qubits in 2027 and 80,000 logical qubits in 2030."

“The close of our acquisition of Capella in July expands our quantum networking vision to include a space-based QKD network," de Masi continued. “Our networking products are production-grade and are used by many of the world's household-name financial services, telecom, and government agencies. IonQ quantum networking offers the ultimate in communication security, protecting even from the looming threat of quantum decryption."

"We’ve also attracted world-class leaders who are choosing to build the future at IonQ. From the world of finance, Dr. Marco Pistoia has joined us after leading global applied research and quantum computing at JPMorgan Chase. From the highest levels of government, we welcomed Dr. Rick Muller, former Director of IARPA, the intelligence community’s advanced research agency. To guide our corporate growth, veteran technology counsel Paul Dacier has taken the helm as Chief Legal Officer, and to sharpen our scientific core, our co-founder Dr. Chris Monroe has assumed the vital role of Chief Scientific Advisor.”

“As I have said before, I believe talent is the proverbial Warren Buffett weighing machine most relevant to any company's long-term prospects, and it is tremendously validating to have such towering figures in the quantum industry become our colleagues at IonQ."

Financial Highlights

• IonQ recognized revenue of $20.7 million for the second quarter, which is 15% above the top end of the previously provided range.
• Cash, cash equivalents, and investments were $656.8 million as of June 30, 2025 and $1.6 billion pro-forma as of July 9, 2025. The balance increased due to the $1.0 billion equity financing.
• Net loss was $177.5 million and Adjusted EBITDA loss was $36.5 million for the second quarter.

Q2 and Recent Commercial Highlights

• IonQ announced the signing of a Memorandum of Understanding with KISTI to accelerate South Korea's role in the global quantum race, collaborating in four key areas: advanced infrastructure access, education, talent and knowledge exchange, and efforts to expand the quantum ecosystem.
• IonQ announced AI-focused collaboration with AIST in Japan through a Memorandum of Understanding, paving the way for joint R&D, workforce development initiatives, and access to IonQ Forte-class quantum computers to accelerate real-world quantum-AI applications.
• IonQ announced a partnership with Sweden's Einride to pioneer quantum-enhanced optimization for the global freight industry, collaborating to create quantum solutions for fleet routing, logistics optimization, and supply chain management.
• IonQ announced expansion across APAC through a strategic collaboration with Australian company Emergence Quantum, advancing IonQ's global expansion roadmap while strengthening Australia's quantum capabilities, with the Emergence Quantum team bringing decades of experience in trapped ion technology.
• IonQ backs landmark Texas Quantum Initiative, working with state leaders to position Texas as a U.S. quantum hub through policy support, investment incentives, and expanded opportunities in quantum computing, networking, and sensing technologies.
• IonQ announced that it secured a landmark $22M deal with utility leader EPB to create America's first commercial quantum hub, demonstrating significant commercial traction and strategic expansion into the critical energy infrastructure market.

Q2 and Recent Technical Highlights

• IonQ announced a 20x speed-up of quantum-accelerated drug development applications with AstraZeneca, AWS, and NVIDIA, in the largest demonstration of its kind, combining leading hardware, platforms, and techniques, marking a significant step toward more efficient pharmaceutical production through hybrid quantum-classical workflows.
• IonQ announced that the Company and the University of Washington together achieved the first known quantum computer simulation of a process tied to the universe’s matter–antimatter imbalance, modeling nuclear dynamics on unprecedented yoctosecond time-scales (10⁻²⁴ seconds) and potentially opening new frontiers in fundamental physics research.
• IonQ announced that it developed a hybrid quantum computing approach with Oak Ridge National Laboratory to drive power grid efficiencies and meet electricity demand at minimal cost.

Q2 and Recent Corporate Highlights

• IonQ announced an agreement to acquire Oxford Ionics, creating the world’s most advanced quantum computing roadmap when combined with IonQ. The combination promises 10,000 physical qubits with logical fidelities of 99.99999% by 2027 and 2 million physical qubits by 2030.
• IonQ announced the completion of its acquisition of Lightsynq, accelerating its quantum computing and quantum internet roadmaps and offering a clear path to millions of qubits through the integration of Lightsynq's advanced photonic interconnect technologies.
• IonQ announced the completion of its acquisition of Capella, facilitating its development of a space-based QKD network and the foundation of the quantum internet with the integration of Capella’s satellite infrastructure.
• IonQ announced the pricing of a $1.0 billion equity offering, including shares and warrants, to strengthen its balance sheet to approximately $1.6 billion in pro-forma cash, for continued innovation and growth.
• IonQ announced the appointment of Marco Pistoia, renowned IBM inventor, quantum computing leader, and former Global Head of Applied Research and Quantum Computing at JPMorgan Chase, as Senior Vice President of Industry Relations.
• IonQ announced the expansion of its engineering leadership team with the hiring of Rick Muller, former Director of IARPA, as Vice President of Quantum Systems to advance its quantum hardware development.
• IonQ announced the appointment of Paul Dacier as Chief Legal Officer and Corporate Secretary to bolster its legal and governance framework amid rapid growth in quantum computing.
• IonQ announced the appointment of its founder Dr. Chris Monroe as Chief Scientific Advisor, where he will be working very closely with Dr. Mihir Bhaskar.
• IonQ announced that Dr. Grégoire Ribordy will remain in his role post-close to continue building on his 20 years of leadership in quantum networking.

2025 Financial Outlook

For the full year 2025, IonQ expects revenue to be between $82 million and $100 million, with between $25 million and $29 million for the third quarter.

2025 Board Update

• IonQ announced that its Board of Directors has appointed CEO Niccolo de Masi to the additional position of Chairman of the Board, effective immediately. As a result, Peter Chapman has stepped down as Executive Chairman and as a member of the Board.
• Inder Singh, Lead Independent Director of IonQ, said, “We are delighted to name Niccolo as Chairman of the Board. Since he became CEO in February 2025, Niccolo has excelled in leading the business forward. We are confident that he is the right person to guide our Board as we continue to oversee the execution of the Company’s strategic priorities and the incredible momentum they are driving. We are grateful to Peter for his long-standing service to IonQ and wish him well.”
• de Masi commented, “I am honored to receive this further vote of confidence in me by the Board as IonQ continues to extend its leadership in quantum computing and quantum networking. I also want to thank Peter for his seminal work in building the Company over the last six years and our collaboration over the last few months.”

Second Quarter 2025 Conference Call

IonQ will host a conference call today at 4:30 p.m. Eastern time to review the Company’s financial results for the second quarter ended June 30, 2025 and to provide a business update. The call will be accessible by telephone at 844-826-3035 (domestic) or 412-317-5195 (international). The call will also be available live via webcast on the Company’s website here, or directly here. A telephone replay of the conference call will be available approximately three hours after its conclusion at 844-512-2921 (domestic) or 412-317-6671 (international) with access code 10200658 and will be available until 11:59 p.m. Eastern time, August 20, 2025. An archive of the webcast will also be available here shortly after the call and will remain available for one year.

Non-GAAP Financial Measures

To supplement IonQ’s condensed consolidated financial statements presented in accordance with GAAP, IonQ uses non-GAAP measures of certain components of financial performance. Adjusted EBITDA is a financial measure that is not required by or presented in accordance with GAAP. Management believes that this measure provides investors an additional meaningful method to evaluate certain aspects of the Company’s results period over period. Adjusted EBITDA is defined as net loss attributable to IonQ, Inc. before net loss attributable to noncontrolling interests, interest income, interest expense, income tax (benefit) expense , depreciation and amortization expense, stock-based compensation, change in fair value of assumed warrant liabilities, acquisition transaction costs, and other non-recurring non-operating income and expenses. IonQ uses Adjusted EBITDA to measure the operating performance of its business, excluding specifically identified items that it does not believe directly reflect its core operations and may not be indicative of recurring operations. The presentation of non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the financial results prepared in accordance with GAAP, and IonQ’s non-GAAP measures may be different from non-GAAP measures used by other companies. IonQ shows a reconciliation of GAAP to non-GAAP financial measures at the end of this release.