IonQ revenue surges 755% in Q1, raises FY forecast on quantum momentum

IONQ

06/05/2026 21:52

Overview

Quantum computing platform's Q1 revenue grew 755% yr/yr, beating analyst expectations

Net income for Q1 beat analyst estimates, aided by gain on warrant liabilities

Company raised full-year revenue outlook, citing strong demand and backlog growth

Outlook

IonQ raises full-year 2026 revenue guidance to $260-$270 mln

Company expects Q2 2026 revenue between $65 mln and $68 mln

IonQ reaffirms 2026 adjusted EBITDA loss guidance of ($330) mln to ($310) mln

Result Drivers

SYSTEM SALES & PLATFORM EXPANSION - Co said revenue growth was driven by accelerating global system sales, strong Tempo demand, increased cloud utilization and quantum computing growth

COMMERCIAL & MULTI-PRODUCT DEMAND - About 60% of revenue came from commercial customers and over one third from multi-product sales, per COO/CFO Inder Singh

NEW CONTRACTS & BACKLOG - Co cited first sale of 256-qubit system, new quantum networking and defense contracts, and a 554% yr/yr increase in remaining performance obligations

Company press release: ID:nBw24Tcxca

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$64.67 mln
$49.73 mln (11 Analysts)
Q1 Net Income
Beat
$804.61 mln
-$142.65 mln (8 Analysts)
Q1 Operating Income
-$271.51 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the computer hardware peer group is "buy"

Wall Street's median 12-month price target for IONQ Inc is $61.00, about 27.1% above its May 5 closing price of $48.00

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)