TLDR
- IonQ was awarded a contract under the Missile Defense Agency’s SHIELD IDIQ framework, which has a $151 billion ceiling.
- IonQ is one of more than 2,400 companies eligible to compete for task orders — no work or funding is guaranteed.
- The stock rose 1.4% in after-hours trading following the announcement, but was down 3.51% on the day.
- IonQ expects full-year revenue at the high end or above its $106–110 million guidance range, despite remaining unprofitable.
- The company is also planning a $1.8 billion acquisition of SkyWater Technology, expected to close in Q2 or Q3 2026.
IonQ rose 1.4% in after-hours trading on Monday after the company announced it had been awarded a position under the Missile Defense Agency’s SHIELD indefinite-delivery/indefinite-quantity contract.
IonQ has been awarded a contract under the Missile Defense Agency’s SHIELD IDIQ program, strengthening our collaboration with the U.S. government. We look forward to advancing federal R&D and accelerating deployment of innovative quantum capabilities aligned to evolving national…
— IonQ (@IonQ_Inc) February 23, 2026
The SHIELD IDIQ contract carries a ceiling of $151 billion and covers a wide range of work areas focused on delivering innovative defense capabilities quickly.
IonQ is one of more than 2,400 companies now eligible to compete for future task orders under the framework. Being on the contract does not guarantee any specific work or funding.
Actual revenue from the contract will only come if IonQ wins individual task orders through competitive selection processes. That’s a key distinction worth keeping in mind.
Still, it gives IonQ a foot in the door for government defense work — an area the company has been pushing into for some time.
IonQ has previously worked with DARPA and the U.S. Air Force Research Laboratory on research and development projects. The company also has relationships across the broader national security community.
CEO Niccolo de Masi framed the award as a reflection of the company’s depth. “IonQ brings together a broad set of quantum technologies and supporting capabilities that reflect years of investment across computing, networking, sensing, and security,” he said.
IonQ’s portfolio spans quantum computing, networking, sensing, and security. Its subsidiaries add further capability — Capella Space handles synthetic aperture radar imagery, Skyloom works on optical communications, and Vector Atomic focuses on precision timing and navigation.
Revenue Growth, But Still in the Red
On the financial side, IonQ posted revenue of $79.84 million over the last twelve months, representing 113% growth. Despite that pace, the company remains unprofitable.
IonQ has also said it expects full-year revenue to come in at the high end or above its guidance range of $106–110 million, beating estimates from Cantor Fitzgerald and FactSet.
Cantor Fitzgerald maintained its Overweight rating on the stock with a $70 price target.
Acquisitions and Headwinds
IonQ has been active on the acquisition front. It completed its purchase of Skyloom Global Corp., adding quantum networking and secure communications capabilities.
It also announced plans to acquire SkyWater Technology for $1.8 billion. The deal terms include $15 in cash and $20 in stock per SkyWater share, a 38% premium to the recent average price. Closing is expected in Q2 or Q3 2026, pending approvals.
The company has not been without turbulence. A short seller report from Wolf Pack alleged IonQ lost critical Pentagon funding and flagged a financial gap, along with alleged insider stock sales totaling $396.6 million. IonQ has continued pushing forward with its strategy despite the scrutiny.
The stock was trading at $30.78 at the time of the announcement, with a market cap of $10.95 billion. InvestingPro analysis flagged the stock as overvalued relative to its Fair Value.
IonQ is headquartered in College Park, Maryland, and its quantum computing services are available through major cloud providers.
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