IonQ, Inc.

IONQ 10-Q · Q1 2026

IONQ Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Operating Lease Cost 3,510 754 +365.5%
Show Income Statement Location breakouts
Cost Of Sales 808 89 +807.9%
General And Administrative Expense 105 84 +25.0%
Research And Development Expense 1,665 493 +237.7%
Selling And Marketing Expense 932 88 +959.1%
Revenue 64,668 7,566 +754.7%
Show Product Lines breakouts
Platform, Consulting and Support Services [Member] 28,959 4,503 +543.1%
Quantum Hardware [Member] 35,709 3,063 +1065.8%
Show Geography breakouts
CH 12,606 1,739 +624.9%
Non Us 11,335 538 +2006.9%
US 40,727 5,289 +670.0%
Show Consolidation Items breakouts
Operating Segments 64,668 7,566 +754.7%
Cost Of Goods And Service Excluding Depreciation Depletion And Amortization 49,254 4,315 +1041.5%
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Operating Segments 32,439 3,252 +897.5%
Research & Development 125,740 39,953 +214.7%
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Operating Segments 73,039 22,561 +223.7%
Sales & Marketing 29,436 8,610 +241.9%
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Operating Segments 14,774 4,254 +247.3%
General & Administrative 88,616 23,806 +272.2%
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Operating Segments 44,277 13,364 +231.3%
Depreciation And Amortization 43,129 6,561 +557.4%
Operating Costs And Expenses 336,175 83,245 +303.8%
Operating Income -271,507 -75,679 -258.8%
Fair Value Adjustment Of Warrants 1,057,628 38,494 +2647.5%
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Operating Segments 1,057,628 38,494 +2647.5%
Interest Income Expense Net 28,234 4,894 +476.9%
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Operating Segments -28,234 -4,894 -476.9%
Other Non-Operating Income (Expense) -16,127 51 -31721.6%
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Operating Segments -16,127 51 -31721.6%
Income Before Taxes 798,228 -32,240 +2575.9%
Income Tax Expense (Benefit) 6,382 -12 +53283.3%
Show Consolidation Items breakouts
Operating Segments 6,382 -12 +53283.3%
Net Income 804,610 -32,252 +2594.8%
Show Equity Components breakouts
Noncontrolling Interest -750
Retained Earnings 805,360 -32,252 +2597.1%
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Operating Segments 804,610 -32,252 +2594.8%
Net Income Loss Attributable To Noncontrolling Interest -750
Net Income 805,360 -32,252 +2597.1%
EPS (Basic) 2.19 -0.14 +1664.3%
EPS (Diluted) 2.07 -0.14 +1578.6%
Wtd Avg Shares (Basic) 358,822,219 228,759,209 +56.9%
Wtd Avg Shares (Diluted) 371,228,286 228,759,209 +62.3%
Comprehensive Income 762,970 -32,420 +2453.4%
Other Comprehensive Income (Q)
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -952
Accumulated Net Unrealized Investment Gain Loss -6,680
Accumulated Other Comprehensive Income -42,390
Accumulated Translation Adjustment -34,758
Net Income Loss Available To Common Stockholders Basic 786,632 -32,252 +2539.0%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 493,538 159,681 +209.1%
Short-Term Investments 1,539,932 428,605 +259.3%
Accounts Receivable 98,197 9,471 +936.8%
Show Accounts Notes Loans And Financing Receivable By Receivable Type breakouts
Billed Accounts Receivable [Member] 52,422 6,909 +658.7%
Unbilled Accounts Receivable [Member] 45,775 2,562 +1686.7%
Prepaid Expenses & Other Current Assets 171,251 39,227 +336.6%
Total Current Assets 2,302,918 636,984 +261.5%
Inventory 17,100
Non-Current Assets
Long Term Investments 1,058,426 108,861 +872.3%
Property, Plant & Equipment 132,310 51,644 +156.2%
Operating Lease Right-of-Use Assets 23,498 9,232 +154.5%
Goodwill 2,127,665
Show Business Acquisition breakouts
Two Thousand Twenty Five Acquisitions Member 4,859
Other Non-Current Assets 267,806
Total Assets 6,693,713 850,074 +687.4%
Intangible Assets 781,090
Show Counterparty Name breakouts
University Of Cambridge [Member] · Naming rights [Member] 14.8
Other Assets
Intangible Assets Net Excluding Goodwill 781,090 28,216 +2668.3%
Current Liabilities
Accounts Payable 38,308 8,752 +337.7%
Accrued Liabilities 65,444
Operating Lease Liability Current 9,165 3,621 +153.1%
Deferred Revenue 50,970 12,061 +322.6%
Total Current Liabilities 163,887 48,379 +238.8%
Non-Current Liabilities
Operating Lease Liabilities 21,278 13,739 +54.9%
Deferred Revenue Noncurrent 13,472
Derivative Liabilities Noncurrent 1,406,811 21,241 +6523.1%
Other Non-Current Liabilities 98,563
Total Liabilities 1,704,011 85,026 +1904.1%
Deferred Tax Liabilities 77,795
Stockholders' Equity
Common Stock 37 24 +54.2%
Additional Paid-In Capital 5,419,731 1,481,007 +265.9%
Retained Earnings -388,738 -715,972 +45.7%
Accumulated Other Comprehensive Income -55,061 -11 -500454.5%
Total Stockholders' Equity 4,975,969
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -2,065
Accumulated Net Unrealized Investment Gain Loss -2,407
Accumulated Other Comprehensive Income -55,061
Accumulated Translation Adjustment -50,589
Minority Interest 13,733
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 4,989,702 765,048 +552.2%
Show Equity Components breakouts
Accumulated Other Comprehensive Income -55,061 -11 -500454.5%
Additional Paid In Capital 5,419,731 1,481,007 +265.9%
Common Stock 37 24 +54.2%
Noncontrolling Interest 13,733
Retained Earnings -388,738 -715,972 +45.7%
Total Liabilities & Equity 6,693,713 850,074 +687.4%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Stock-Based Compensation 128,517 33,253 +286.5%
Deferred Income Taxes -6,508
Other Non-Cash Items 8,475 -584 +1551.2%
Change in Accounts Receivable -23,230 748 -3205.6%
Change in Prepaid & Other Assets -41,645 -12,471 -233.9%
Change in Accounts Payable 9,439 3,272 +188.5%
Increase Decrease In Accrued Liabilities -24,944 6,123 -507.4%
Increase Decrease In Deferred Revenue 11,082 1,299 +753.1%
Increase Decrease In Other Operating Capital Net -2,321 -480 -383.5%
Net Cash from Operations -151,024 -33,025 -357.3%
Depreciation & Amortization (Q)
Show Consolidation Items breakouts
Operating Segments 43,129 6,561 +557.4%
Investing Activities
Capital Expenditures -8,369 -2,308 -262.6%
Purchases of Investments -588,328 -320,571 -83.5%
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities 292,050 93,805 +211.3%
Purchases Of Strategic Investments -52,500
Payments To Acquire Businesses Net Of Cash Acquired -33,281
Other Investing Activities -1,425 -1,102 -29.3%
Net Cash from Investing -391,853 -230,176 -70.2%
Non Cash Reclassification Of Warrant Liabilities To Equity Upon Exercise 7,138 10,953 -34.8%
Bonus Settled In Restricted Stock Units 27,982 6,969 +301.5%
Equity Issued For Acquisitions 164,645
Equity Issued For Intangible Assets 14,760
Equity Issued For Research And Development Arrangement 73,046
Financing Activities
Proceeds From Stock Options Exercised 3,163 1,213 +160.8%
Proceeds From Warrant Exercises 2,199 4,702 -53.2%
Proceeds From Payments For Other Financing Activities 1,537 516 +197.9%
Net Cash from Financing 6,899 368,734 -98.1%
Supplemental
Unpaid Capital Expenditures 1,636 152 +976.3%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents -417 -13 -3107.7%
Net Change in Cash -536,395 105,520 -608.3%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 501,353 162,360 +208.8%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

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