$IONQ

IonQ, Inc.

CIK:0001824920|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue	$ 80,050	$ 20,694	$ 144,718	$ 28,260
Costs and expenses:
Cost of revenue (excluding depreciation and amortization)	60,110	8,327	109,364	12,642
Research and development	160,627	103,359	286,367	143,312
Sales and marketing	32,895	10,877	62,331	19,487
General and administrative	117,574	48,107	206,190	71,913
Depreciation and amortization	46,087	10,616	89,216	17,177
Total operating costs and expenses	417,293	181,286	753,468	264,531
Loss from operations	(337,243)	(160,592)	(608,750)	(236,271)
Gain (loss) on change in fair value of warrant liabilities	(1,649,115)	(39,577)	(591,487)	(1,083)
Interest income, net	31,979	7,138	60,213	12,032
Other income (expense), net	79,712	232	63,585	283
Income (loss) before income tax expense	(1,874,667)	(192,799)	(1,076,439)	(225,039)
Income tax benefit (expense)	6,067	15,269	12,449	15,257
Net income (loss)	(1,868,600)	(177,530)	(1,063,990)	(209,782)
Net income (loss) attributable to noncontrolling interests	(858)	(692)	(1,608)	(692)
Net income (loss) attributable to IonQ, Inc.	$ (1,867,742)	$ (176,838)	$ (1,062,382)	$ (209,090)
Net income (loss) per share attributable to IonQ, Inc. common stockholders-basic	$ (5.08)	$ (0.7)	$ (2.92)	$ (0.87)
Net income (loss) per share attributable to IonQ, Inc. common stockholders-diluted	$ (5.08)	$ (0.7)	$ (2.92)	$ (0.87)
Weighted average shares used in computing net income (loss) per share attributable to IonQ, Inc. common stockholders-basic	367,660,636	250,967,455	363,265,843	239,924,680
Weighted average shares used in computing net income (loss) per share attributable to IonQ, Inc. common stockholders-diluted	367,660,636	250,967,455	363,265,843	239,924,680

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ (1,063,990)	$ (209,782)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	89,216	17,177
Stock-based compensation	270,362	132,421
(Gain) loss on change in fair value of warrant liabilities	591,487	1,083
Deferred income taxes	(12,879)	(15,300)
(Gain) loss on change in fair value of strategic investments	(63,991)	0
Other, net	1,098	(2,038)
Changes in operating assets and liabilities:
Accounts receivable	(28,525)	(3,595)
Prepaid expenses and other current assets	(66,685)	(25,142)
Accounts payable	14,641	1,094
Accrued expenses and other current liabilities	(13,894)	20,741
Unearned revenue	31,895	(4)
Other assets and liabilities	(3,516)	(2,254)
Net cash provided by (used in) operating activities	(254,781)	(85,599)
Cash flows from investing activities:
Purchases of property and equipment	(18,583)	(3,501)
Purchases of available-for-sale securities	(588,328)	(435,130)
Maturities of available-for-sale securities	845,900	211,180
Sales of available-for-sale securities	317,972	0
Purchases of strategic investments	(80,500)	0
Businesses acquired, net of cash paid and acquired	(31,789)	28,667
Other investing, net	(2,552)	(2,193)
Net cash provided by (used in) investing activities	442,120	(200,977)
Cash flows from financing activities:
Proceeds from common stock and warrant issuance, net of issuance costs	0	358,254
Proceeds from stock options exercised	11,535	7,564
Proceeds from public warrants exercised	3,005	5,592
Tax withholding receipts (payments) related to equity awards, net	7,836	1,447
Other financing, net	(3,459)	0
Net cash provided by (used in) financing activities	18,917	372,857
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(714)	391
Net change in cash, cash equivalents and restricted cash	205,542	86,672
Cash, cash equivalents and restricted cash at the beginning of the period	1,037,748	56,840
Cash, cash equivalents and restricted cash at the end of the period	1,243,290	143,512
Supplemental disclosures of non-cash investing and financing transactions
Property and equipment purchases in accounts payable and accrued expenses	3,414	465
Operating lease right-of-use assets subject to lease liability	19,122	0
Noncash reclassification of warrant liabilities to equity upon exercise	10,666	13,728
Bonus settled in restricted stock units	27,982	6,969
Conversion of investment in convertible debt securities to investment in equity securities	37,110	0
Equity issued for acquisitions	238,617	461,831
Equity issued for intangible assets	14,760	0
Equity issued for research and development arrangement	$ 73,046	$ 0

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,235,729	$ 1,030,865
Short-term investments	883,240	1,361,291
Accounts receivable, net	105,909	66,532
Prepaid expenses and other current assets	184,911	127,751
Total current assets	2,409,789	2,586,439
Long-term investments	840,365	944,643
Property and equipment, net	144,245	120,145
Operating lease right-of-use assets	46,667	22,724
Intangible assets, net	778,874	767,432
Goodwill	2,185,971	1,963,584
Other noncurrent assets	372,680	165,391
Total Assets	6,778,591	6,570,358
Current liabilities:
Accounts payable	44,575	26,138
Accrued expenses and other current liabilities	97,005	89,721
Current portion of operating lease liabilities	11,656	8,850
Unearned revenue	72,827	42,116
Total current liabilities	226,063	166,825
Operating lease liabilities, net of current portion	42,842	21,171
Unearned revenue, net of current portion	14,180	1,921
Warrant liabilities	3,052,398	2,471,577
Other noncurrent liabilities	103,529	95,172
Total liabilities	3,439,012	2,756,666
Commitments and contingencies (see Note 12)
Stockholders' Equity:
Common stock $0.0001 par value; 1,000,000,000 shares authorized; 381,044,481 and 362,592,722 shares outstanding as of June 30, 2026 and December 31, 2025, respectively	38	36
Additional paid-in capital	5,637,913	5,006,250
Accumulated deficit	(2,256,480)	(1,194,098)
Accumulated other comprehensive income (loss)	(54,263)	(12,671)
Total IonQ, Inc. stockholders' equity	3,327,208	3,799,517
Noncontrolling interests	12,371	14,175
Total stockholders' equity	3,339,579	3,813,692
Total Liabilities and Stockholders' Equity	$ 6,778,591	$ 6,570,358