COLLEGE PARK, Md., May 06, 2026 -- IonQ , the world’s only full-stack quantum platform company, today announced financial results for the quarter ending March 31, 2026.

“I am pleased to share that IonQ has begun 2026 with strong momentum, delivering our fourth consecutive quarter of record-breaking results and the biggest quarter in our company's history - thus far. With $64.7 million in revenue, we have once again significantly outperformed our guidance range, exceeding the midpoint by 30%,” said Niccolo de Masi, Chairman and CEO. “As a result, we are raising our revenue expectations for the full year to $270 million at the high end, based upon the strong and growing demand for our leading quantum computers, as well as the commercial impact of our entire quantum platform.”

“Securing our first 256-qubit system sale and receiving our first ion trap chip samples back from the fab this quarter marks a pivotal shift toward commercial scale. We are now moving from component-level testing to integrated, system-level testing of the full 256-qubit quantum computer. These milestones, combined with the first-of-its-kind publication of our complete architectural blueprint for fault-tolerant quantum computing, prove that IonQ has the hardware and the roadmap to continually lead the quantum revolution. IonQ is poised to be the first company in history to fully demonstrate fault-tolerance at scale, and is already benefitting from leadership in real-world application time-to-solution.”

Niccolo de Masi continued, “We are executing and innovating across our quantum platform with key milestones this past quarter including: 1) DARPA’s selection of IonQ’s pioneering quantum interconnect technology to support heterogeneous quantum computing, 2) commercialization of our best-in-class sensing products, and 3) global deployments of our post-quantum cybersecurity solutions to ensure customers remain protected in the age of quantum ubiquity.”

Inder Singh, COO and CFO, added that “Our first quarter 2026 revenue was $64.7 million, representing 755% year-on-year growth, underpinned by accelerating global system sales, strong Tempo demand, strengthening pipeline, and increasing cloud utilization. I am proud to report that we saw not only record revenues, but an increase in our backlog as well. We delivered year-on-year growth across our product offerings, and this strong demand helped increase our reported RPOs by 554% year-on-year to a new record level of $470 million. I’m also pleased to report that our results reflected approximately 60% of revenue from commercial customers and approximately 35% from international customers. With this strong start to the year, we are raising our full year revenue guidance, reflecting our expectation of continued strong organic growth of 100% year-on-year or better.”

Inder Singh continued, “Our quantum platform strategy is resonating with customers, as illustrated by the fact that over one third of our revenue this quarter came from multi-product sales, not just computing. With a strengthened go-to-market team, we are implementing methodical pursuit and capture tactics and pursuing a land-and-expand strategy. We have now sold IonQ solutions in more than 30 countries, compared to a year ago when that number was only a few. As we look ahead into the rest of 2026, our focused pipeline, the expansion of our manufacturing capacity, the increase in our deployment resources, and the implementation of a corporate dashboard all help us maintain operational rigor and focus across our growing enterprise. We will continue to invest in bringing market-leading quantum products and applications to our customers.”

First Quarter Financial Highlights

• Recognized revenue of $64.7 million for the first quarter, which is 30% above the midpoint of the previously provided range and represents 755% year-on-year growth
• Cash, cash equivalents, and investments were $3.1 billion as of March 31, 2026
• Net income was $805.4 million and GAAP EPS was $2.19 for the first quarter
• Adjusted EBITDA loss was ($96.8) million and Adjusted EPS was ($0.34) for the first quarter. Adjusted EBITDA includes the costs of our commercial relationship with SkyWater, as the transaction remains pending and has not closed. Excluding the SkyWater spend, Adjusted EBITDA loss would have been ($85.0) million

First Quarter and Recent Commercial Highlights

• Sold IonQ’s First 6th-Generation, Chip-Based, 256-Qubit System to the University of Cambridge, Anchored by a Secure Quantum Network and Broad IP-Generation Partnership Spanning Computing, Networking, Sensing, and Security
• Expanded Quantum Platform Leadership with Deployment of National Quantum Communication Network in Poland, the First Commercial Sale of a Quantum Memory Node into the U.S. Mid-Atlantic Regional Quantum Internet, and a New Statewide Quantum Networking Initiative in Florida
• Selected for DARPA’s HARQ Program, Reflecting IonQ’s Leadership in Modular Quantum Computing and Scalable Heterogeneous Architectures Using Quantum Interconnects
• Awarded $39 Million Contract to Advance Next-Generation Tactical Space Communications Under the Space Development Agency’s (SDA) HALO Program, Paving the Way for Mission-Ready, Quantum-Space Systems in National Security
• Selected to Support Missile Defense Agency’s SHIELD IDIQ Contract, Focused on the Rapid Delivery of Innovative Capabilities to the Warfighter
• Achieved Foundational Quantum Interconnect Milestone with First Ever Commercial Demonstration of Two Connected Commercial Quantum Computers, Paving the Way for Distributed Quantum Computing
• Expanded Partnership with General Dynamics Information Technology (GDIT) to Explore Opportunities to Co-Build and Deploy Quantum Solutions for Critical Mission Environments and Operational Exercises
• Signed Memorandum of Understanding with KISTI to Explore the Advancement of Hybrid Quantum-HPC Technologies Incorporating NVIDIA Accelerated Computing, Representing a Powerful Convergence of Quantum, AI, and Classical Supercomputing

2026 Financial Outlook

• For the full year 2026, IonQ is raising its revenue expectations to be between $260 million and $270 million, with between $65 million and $68 million for the second quarter. For the full year, we expect strong organic growth of over 100% year-on-year.
• For the full year 2026, IonQ is reaffirming its Adjusted EBITDA loss guidance with a range of between ($330) million and ($310) million