IonQ, Inc. (IONQ) Earnings
IonQ, Inc. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $-0.29. IONQ has beaten EPS estimates in 3 of its last 12 reported quarters (average surprise -174.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-0.26 | $-0.38 | -46.2% | $65M | +30.0% |
| Feb 25, 2026 | $-0.48 | $1.93 | +502.1% | $62M | +61.7% |
| Nov 5, 2025 | $-0.44 | $-3.58 | -713.6% | $40M | +47.7% |
| Aug 6, 2025 | $-0.13 | $-0.70 | -438.5% | $21M | +20.1% |
| Feb 26, 2025 | $-0.23 | $-0.93 | -304.3% | $12M | +13.9% |
| Feb 28, 2024 | $-0.23 | $-0.20 | +13.0% | $6M | +6.0% |
| Aug 10, 2023 | $-0.16 | $-0.16 | +0.0% | $6M | +26.8% |
| May 11, 2023 | $-0.08 | $-0.14 | -75.0% | $4M | +0.0% |
| Nov 14, 2022 | $-0.11 | $-0.12 | -9.1% | $3M | -0.7% |
| Aug 15, 2022 | $-0.10 | $-0.09 | +10.0% | $3M | +9.0% |
| May 16, 2022 | $-0.08 | $-0.09 | -12.5% | $2M | -0.1% |
| Nov 15, 2021 | $-0.07 | $-0.08 | -14.3% | $233000 | +40.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 6, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
2026 started strongly for IonQ with record-breaking results. Key points include delivering the biggest quarter in company history, raising full-year revenue expectations to $270 million high end. Progress in quantum platform with accelerating global system sales, high margin cloud utilization, and deepening enterprise partnerships. Skywater acquisition progress with test iterations for 256 cubic chip and receiving ion trap samples. Momentum in applications and quantum algorithms with partnerships in various sectors. Progress in quantum networking, including deploying Poland's first national quantum communications network and connecting qubits from separate systems. Strong federal activities with contracts and product launches.
Guidance
IonQ raised full-year revenue guidance to $270 million at the high end. Projected Q2 revenue is between $65 million and $68 million. Reaffirmed full-year 2026 adjusted EBITDA to be in the range of negative $310 million to negative $330 million.
Segment performance
In the first quarter of 2026, IonQ achieved $64.7 million of GAAP revenue, which is more than eight times the same period last year. Commercial revenue accounted for approximately 60% of total revenue. International revenue was around 35% of the total. Multi-product sales, where customers bought more than one product, made up over one-third of revenue. Remaining performance obligations (RPOs) stood at $470 million as of March 31, 2026, a 554% year-over-year growth.
Risks & headwinds
Actual events or results could differ materially from forward-looking statements due to a number of risks and uncertainties. Refer to recent SEC filings, including the annual report on Form 10-K for detailed discussion of risks and uncertainties.
Analyst Q&A
Q: John McPeak of Rosenblatt Securities asked about delivery schedule and revenues from 256 qubit customers.
A: Niccolo DeMasi said demand for fifth generation machine is strong, with many new wins expected, and focus on manufacturing and deployment capabilities.
Q: Craig Ellis of B Riley Securities inquired about revenue implications of photonic interconnect announcement.
A: Niccolo DeMasi said no precise revenue guidance on out quarters but highlighted lead in quantum networking and photonic interconnects with multiple advantages.
Q: Troy Jensen of Cantor Fitzgerald asked about pricing value of IonQ's solutions.
A: Niccolo DeMasi said they meet customers where they are, with options like buying a system, cloud access, or edge device, and focus on meeting customer needs rather than strict pricing.
Q: Quinn Bolton of Needham asked about solutions bundling and who drives it.
A: Inder Singh said customers start in different areas and expand, with both IonQ-driven and customer-driven bundling happening.
Q: Richard Shannon of Craig Hallam asked about Walking Cat architecture intersection with roadmap and satellites.
A: Niccolo DeMasi said Walking Cat architecture kicks in every generation, starting with 10,000 qubits next year and beyond, and IonQ has a constellation of satellites with unique capabilities.
Q: Antoine Ligo of Wedbush Securities asked about Q-Day timeline impact on sales cycles and Florida LambdaRail.
A: Niccolo DeMasi said customers are waking up to Q-Day, and Florida LambdaRail is a phased contract with ambitions for statewide expansion.
Q: Nihal Kushki of Northland Capital Markets asked about Skywater impact on COGS and gross margin.
A: Inder Singh said $12 million Skywater expenses are more R&D related, and not to obsess on gross margin but focus on EBITDA margins.
Q: Peter Peng of JP Morgan asked about near-term revenue constraints and 10,000 qubit chip timeline.
A: Inder Singh said it's a nascent industry, and 10,000 qubit chip is expected in the year after 256 qubit system.
Q: Vijay Rakesh of Mizzou asked about hardware vs platform services mix and 2027 plan.
A: Inder Singh said focus is on one P&L and driving innovation, and 2027 plan for 10,000 physical and 800 logical qubits is progressing with system-level testing on 256 qubit system