IonQ Q3 revenue jumps 336%, raises FY outlook on Tempo quantum computers demand

IonQ

Yesterday 22:03

Overview
US quantum computing platform's Q3 revenue surged 336% yr/yr, beating analyst expectations
Company raised FY2026 revenue guidance to $505-$515 mln as backlog grew to $1.2 bln

Outlook
IonQ raises full-year 2026 revenue guidance to $505 mln to $515 mln
Company expects 110% year-on-year growth in quantum computing revenue for 2026
IonQ says growing demand for quantum solutions and strong balance sheet support continued investment

Result Drivers
PLATFORM SEGMENT GROWTH - IonQ said global deployments of its Tempo quantum computers drove a 127% increase in platform segment revenue
SKYWATER ACQUISITION - Co said strong results from its SkyWater foundry services segment contributed to revenue, with non-IonQ quantum customer revenue up over 30% yr/yr
CONTRACT WINS - Co cited new multi-million dollar contracts and follow-on funding, including with SDT, DARPA, Florida International University, and the Air Force Research Laboratory, as supporting revenue growth

Company press release: ID:nBw1ysHDMa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$173.83 mln
$141.92 mln (10 Analysts)
Q3 Net Income
Beat
$563.11 mln
-$129.13 mln (10 Analysts)
Q3 Operating Income
 
-$433.08 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for IonQ, Inc. is $60.00, about 103.1% above its November 4 closing price of $29.54

Reuters Recommended Reads
Nov 5 - IBM, AMD, Oak Ridge National Laboratory launch quantum error correction platform
Nov 3 - Chipmaker AMD forecasts Q4 revenue above estimates on strong data center demand; shares rise
Nov 3 - Astera Labs Q3 revenue jumps 154% on Scorpio switch ramp, design wins

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)