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NYSE · Technology · Financials

IonQ, Inc. (IONQ) financial statements and cash flow.

Revenue, profitability, balance-sheet strength, and cash generation for IONQ. Market data source · as of 2026-06-30.

Section freshness

Price Aug 20, 4:00 PM EDT · Statements Jun 29, 8:00 PM EDT

Financial read

IONQ latest financial snapshot.

Start with the latest reported values below. Deeper quarterly and annual statement tables follow when supplied.

Revenue

$80.05M

+286.8% YoY

Net income

-$1.87B

-331.9% QoQ

Free cash flow

-$113.97M

+28.5% QoQ

Net margin

-2333.22%

Operating margin -421.29%

Balance sheet coverage

IONQ balance sheet summary

Assets, liabilities, liquidity, debt, and equity sit beside income and cash-flow tables so the statement history reads as one model-ready dataset.

20 quarterly · 4 annual rows · Market data source · as of 2026-06-30

Open balance sheet table

Latest period

Q2 FY2026

20 quarterly · 4 annual rows

Assets / liabilities

$6.78B

Liabilities $3.44B

Cash / debt

$1.24B

Net cash —

Equity / working capital

$3.33B

Working capital $2.18B

Financial statements

IONQ statement coverage.

Income statement, balance sheet, and cash-flow figures for IONQ, with quarterly and annual history in the tables below.

Data last updated

Jun 29, 2026

Income periods

Balance-sheet periods

Cash-flow periods

Quarterly and annual IONQ statements, sourced from Market data source · as of 2026-06-30.

Financial statement period

IONQ statement history

Market data source · as of 2026-06-30 · Data last updated: Jun 29, 2026

ProfitabilityIncome statementRevenue, expenses, margins, and income quality20 quarterly periods Capital structureBalance sheetAssets, liabilities, debt, equity, and share count20 quarterly periods Cash generationCash flowOperating cash flow, CapEx, FCF, buybacks, and dividends20 quarterly periods

Income statement

Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.

8 / 20 Quarterly

Period	Revenue	Operating income	Net income	Net margin	Revenue QoQ	Net income QoQ
Q2 FY2026	$80.05M	-$337.24M	-$1.87B	-2333.22%	+23.8%	-331.9%
Q1 FY2026	$64.67M	-$271.51M	$805.36M	1245.38%	+4.5%	+6.9%
Q4 FY2025	$61.89M	-$228.63M	$753.67M	1217.75%	+55.2%	+171.4%
Q3 FY2025	$39.87M	-$168.81M	-$1.05B	-2646.25%	+92.6%	-496.6%
Q2 FY2025	$20.69M	-$160.59M	-$176.84M	-854.54%	+173.5%	-448.3%
Q1 FY2025	$7.57M	-$75.68M	-$32.25M	-426.28%	-35.4%	+84.0%
Q4 FY2024	$11.71M	-$77.50M	-$202.00M	-1725.00%	-5.6%	-284.8%
Q3 FY2024	$12.40M	-$53.13M	-$52.50M	-423.35%	+9.0%	-39.8%

Balance sheet

Balance-sheet history for assets, liabilities, liquidity, debt, equity, and shares outstanding.

8 / 20 Quarterly

Period	Cash	Current assets	Current liabilities	Total assets	Total liabilities	Total equity
Q2 FY2026	$1.24B	$2.41B	$226.06M	$6.78B	$3.44B	$3.33B
Q1 FY2026	$493.54M	$2.30B	$163.89M	$6.69B	$1.70B	$4.98B
Q4 FY2025	$1.03B	$2.59B	$166.82M	$6.57B	$2.76B	$3.80B
Q3 FY2025	$346.03M	$1.22B	$139.28M	$4.32B	$2.03B	$2.27B
Q2 FY2025	$140.07M	$625.89M	$80.63M	$1.35B	$168.16M	$1.16B
Q1 FY2025	$159.68M	$636.98M	$48.38M	$850.07M	$85.03M	$765.05M
Q4 FY2024	$54.39M	$378.80M	$36.09M	$508.39M	$124.53M	$383.86M
Q3 FY2024	$30.17M	$395.40M	$32.32M	$497.91M	$62.23M	$435.68M

Cash flow

Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.

8 / 20 Quarterly

Period	Operating cash flow	CapEx	Free cash flow	Net income	FCF QoQ
Q2 FY2026	-$103.76M	$10.21M	-$113.97M	-$1.87B	+28.5%
Q1 FY2026	-$151.02M	$8.37M	-$159.39M	$805.36M	-91.4%
Q4 FY2025	-$74.51M	$8.79M	-$83.30M	$753.67M	+34.5%
Q3 FY2025	-$123.08M	$4.13M	-$127.20M	-$1.05B	-136.6%
Q2 FY2025	-$52.57M	$1.19M	-$53.77M	-$176.84M	-52.2%
Q1 FY2025	-$33.02M	$2.31M	-$35.33M	-$32.25M	+17.9%
Q4 FY2024	-$39.43M	$3.59M	-$43.02M	-$202.00M	-87.2%
Q3 FY2024	-$19.21M	$3.77M	-$22.98M	-$52.50M	+32.5%

Valuation and returns

Enterprise value: $15.59B; TECHi computed

Return on equity: -40.99%; Market data source

Return on assets: -20.12%; Market data source

Ratio values use provider-attributed fields when available and otherwise fall back to TECHi statement math from the visible rows on this page.

Annual revenue and income multiples

Annual sales and income multiple reads use the latest annual statement when available, then fall back to trailing-twelve-month statement math from the visible quarterly rows.

Annual revenue base: $130.02M; Annual statement 2025-12-31

Annual income base: -$510.38M; Annual statement 2025-12-31

Market cap / annual revenue: 129.41; Live market value divided by annual revenue

Annual sales and income multiple

EV / annual revenue119.90

Market capitalization bridge

Market cap / annual revenue129.41

TTM valuation multiples

TTM revenue: $246.47M; Trailing twelve months

TTM EBIT: -$1.01B; TTM operating income

Market cap / TTM revenue: 68.26; Live market value divided by trailing twelve months revenue

EV / TTM revenue: 63.25; Enterprise value divided by trailing twelve months revenue

Live market value is matched against trailing-twelve-month statement bases first so the multiple moves with the tape instead of anchoring to stale fiscal-year rows.

Revenue, net income, and free cash flow

Revenue$80.05MNet income-$1.87BFree cash flow-$113.97M

Q1 FY2025Q4 FY2025Q2 FY2026

Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.

Efficiency

Revenue / employee: $217,733.216; 1,132 employees

Net income / employee: -$1.20M; TTM net income divided by employees

FCF / employee: -$427,445.23; TTM free cash flow divided by employees

Market cap / employee: $14.86M; Live value per employee

Growth vs cost pressure

Revenue growth YoY+286.8%

Cash conversion

FCF margini-196.32%

CapEx / revenuei12.78%

Quarterly margin heatmap

Gross margin

Q1 FY2025

—

Q2 FY2025

—

Q3 FY2025

—

Q4 FY2025

—

Q1 FY2026

—

Q2 FY2026

—

Operating margin

Q1 FY2025

-1000.25%

Q2 FY2025

-776.03%

Q3 FY2025

-423.45%

Q4 FY2025

-369.42%

Q1 FY2026

-419.85%

Q2 FY2026

-421.29%

Net margin

Q1 FY2025

-426.28%

Q2 FY2025

-854.54%

Q3 FY2025

-2646.25%

Q4 FY2025

1217.75%

Q1 FY2026

1245.38%

Q2 FY2026

-2333.22%

Latest quarter expense mix

R&D$160.63M

Profit bridge

EBIT-$337.24M

Pretax income-$1.87B

Tax expense-$6.07M

Other income statement lines

Income before tax-$1.87B

Income tax expense-$6.07M

Balance sheet · Q2 FY2026

Cash & equivalents: $1.24B

Total equity: $3.33B

Balance sheet detail

Current assets: $2.41B

Current liabilities: $226.06M

Inventory: $24.94M

Receivables: $105.91M

Property, plant & equipment: $144.25M

Debt and liquidity

Quick ratioi5.93

Cash + short-term investments + receivables / current liabilities

Cash generation

Operating cash flow: -$103.76M

Capital expenditure: $10.21M

Free cash flow: -$113.97M

Cash-flow detail

Investing cash flow: $833.97M

Financing cash flow: $12.02M

Stock issuance: $8.37M; Common stock issued

Net buybacks: -$8.37M; Repurchases less stock issuance

Cash flow read

IONQ is consuming cash this period.

Negative free cash flow can be deliberate (heavy capex on a growth project) or stress (operating cash flow turning south). Compare -$103.76M of operating cash flow against $10.21M of capex to see which side is moving.

Frequently asked

Common questions.

What financial data is available for IONQ?

The IONQ Financials page renders only the current income-statement, balance-sheet, cash-flow, or fund rows supplied for IonQ, Inc.. Missing modules and empty line items are omitted.

How current are IONQ's financial statements?

Each visible statement row keeps its reported period and provider attribution. The route redirects to the main quote when no usable financial or fund data remains.