COLLEGE PARK, MD, February 25, 2026 -- IonQ, the world’sleading quantum platform company, today announced financial results for thequarter and full year ending December 31, 2025.

“I am pleased to share that IonQhas once again significantly outperformed our revenue guidance range, exceedingthe midpoint by 55% for the fourth quarter and 20% for the full year bydelivering $61.9 million and $130.0 million respectively,” said Niccolo deMasi, Chairman and CEO. “Our strategic evolution into the world’s onlyfull-stack quantum platform company, and strong organic growth, positions uswith continued momentum to achieve $235 million in revenue for 2026, at ourcurrent guidance midpoint.”

“2025 was a year of tremendousaccomplishments and both a strategic and financial inflection point for IonQ.We became the first public quantum company in history with more than $100million in GAAP revenue. We tripled our annual revenue and accelerated to asemiconductor-based roadmap for our industry-leading quantum computers. Weexpanded and deepened our platform into quantum networking, quantum sensing,and quantum security. We have now integrated our capabilities to createpowerful operating momentum into 2026.”

De Masi continued, “We announcedan agreement to acquire SkyWater Technology, the world’s leading quantum chipfoundry, to create the best capitalized and largest quantum merchant supplierin the world. SkyWater helps usbuild an IonQ platform that customers—especially government and othermission-driven buyers—can trust and plan around irrespective of geopolitics.Together, we intend to ensure the entire U.S. quantum industry will deliver andscale, and do so onshore with trusted processes for the good of the nation. We now offer the world’sonly complete quantum platform in all domains and continents.”

Inder Singh, CFO and COO, addedthat “2025 represented historic growth for the company, and our resultsexceeded our own expectations for both top line and bottom line, as well asconsensus estimates. In our 2025 revenues of $130.0 million, more than 60% camefrom commercial customers, demonstrating that quantum is resonating with thecommercial sector. In addition, international sales comprised more than 30% ofrevenue, demonstrating that our quantum platform is more global. Importantly,our 2025 results included nearly 80% year-over-year organic growth, and in our2026 guidance, we expect organic growth to be even higher. We continue ourfocus on building strong backlog and having a targeted view of the pipeline inorder to ensure visibility in our financial planning.”

Fourth Quarter and Full Year 2025Financial Highlights

●    Recognized revenue of $61.9 million for the fourth quarter, whichis 55% above the midpoint of the implied range and represents 429%year-over-year growth

●    Recognized revenue of $130.0 million for the full year, which is20% above the midpoint of the previously provided range and represents 202%year-over-year growth

●    Cash, cash equivalents, and investments were $3.3 billion as ofDecember 31, 2025

●    Net income was $753.7 million and GAAP EPS was $2.13 for the fourthquarter. For the full year 2025, net loss was ($510.4) million and GAAP EPS was($1.82)

●    Adjusted EBITDA loss was ($67.4) million for the fourth quarter,and ($186.8) million for the full year

●    Adjusted EPS was ($0.20)for the fourth quarter and ($0.60) for the full year

Fourth Quarter and Recent BusinessHighlights

●    Expanded Agreement with QuantumBasel to Over $60 Million, SpanningFour Years and Four Generations of IonQ Systems

●    Sold Fifth-Generation, 100-Qubit System to the KISTI, Anchoring theCountry’s Largest Quantum-Classical Compute Platform and Positioning Hybrid AI,HPC, and NVIDIA Acceleration at the Core of Korea’s Next-Generation ComputeStrategy

●    Continued Innovation in Quantum-Enabled Life Sciences via StrategicCollaboration with CCRM to Accelerate Development of Advanced Therapeutics

●    Deployed Large-Scale, Operational, National Quantum Networks inSwitzerland, Slovakia and Romania

●    Selected by DARPA forPhase B of the Quantum Benchmarking Initiative, Reflecting IonQ’s DemonstratedQuantum Capabilities

2026 Financial Outlook

●    For the full year 2026, IonQ expects revenue to be between $225million and $245 million, with between $48 million and $51 million for thefirst quarter

●    For the full year 2026,IonQ anticipates an Adjusted EBITDA loss of between ($330) million and ($310)million

Fourth Quarter and Full Year 2025Conference Call

IonQ will host a conference call at 4:30 p.m.Eastern time today to discuss its results for the fourth quarter ended December31, 2025 and to provide a business update. The call will be accessible bytelephone at 1-888-349-0106 (domestic) or 1-412-902-0131 (international). Thecall will also be available live via webcast on the company’s website here, or directly here. A telephone replay of theconference call will be available approximately three hours after itsconclusion at 1-855-669-9658 (domestic) or +1-412-317-0088 (international) withaccess code 3269425 and will be available until 11:59 PM Eastern time, March 11,2026. An archive of the webcast will also be available here shortly after thecall and will remain available for one year.

Upcoming Q1 2026 Conference Participation

●    IonQ to participate in the Morgan Stanley Technology, Media &Telecom Conference taking place on Wednesday March 4, 2026. A webcast link tothe fireside chat will be available on our investor relations website.

●    IonQ to participate in theCantor Global Technology & Industrial Growth Conference, taking place onWednesday March 11, 2026. A webcast link will be available on our investorrelations website.

Non-GAAPFinancial Measures

To supplement IonQ’s condensed consolidatedfinancial statements presented in accordance with GAAP, IonQ uses non-GAAPmeasures of certain components of financial performance. Adjusted EBITDA andAdjusted EPS are financial measures that are not required by or presented inaccordance with GAAP. Management believes that these measures provide investorsadditional meaningful methods to evaluate certain aspects of the Company’sresults period over period.

Adjusted EBITDA is defined as net lossattributable to IonQ, Inc. before net loss attributable to noncontrollinginterests, interest income, interest expense, income tax (benefit) expense,depreciation and amortization, stock-based compensation, executive cash-basedseverance, change in fair value of warrant liabilities, offering costsassociated with warrants and acquisition transaction and integration costs.Adjusted EPS is defined as earnings per share, or EPS, excluding the impact ofstock-based compensation, executive cash-based severance, change in fair valueof warrant liabilities, offering costs associated with warrants and acquisitiontransaction and integration costs. IonQ uses Adjusted EBITDA and Adjusted EPSto measure the operating performance of its business, excluding specificallyidentified items that it does not believe directly reflect its core operationsand that may not be indicative of recurring operations.

The presentation of these non-GAAP financialmeasures is not meant to be considered in isolation or as a substitute for thefinancial results prepared in accordance with GAAP, and IonQ’s non-GAAPmeasures may be different from non-GAAP measures used by other companies. IonQshows a reconciliation of its non-GAAP measures to the most directly comparableGAAP measures at the end of this release.