TLDR
- IonQ posted full-year 2025 revenue of $130 million, up 202% year over year, becoming the first publicly traded quantum company to exceed $100 million in annual revenue.
- Q4 revenue hit $61.9 million, beating its own guidance midpoint by 55% and topping analyst estimates by over 53%.
- IonQ reported Q4 EPS of $1.93, crushing the consensus estimate of a -$0.48 loss â a 502% earnings surprise.
- The company issued 2026 revenue guidance of $225â$245 million and expects adjusted EBITDA losses of up to $330 million as it invests heavily.
- IONQ stock jumped 7.35% in after-hours trading; Wall Street holds a Moderate Buy consensus with an average price target of $70.25.
IonQ had a big night on Wednesday. After reporting Q4 and full-year 2025 results, the stock climbed 7.35% in after-hours trading.
$IONQ Q4â25 EARNINGS HIGHLIGHTS
đš Revenue: $61.89M (Est. $40.38M) đ˘; UP 429% YoY
đš Adj. EPS: ($0.20) (Est. ($0.51)) đ˘
đš Full-year revenue: $130.0M; UP 202% YoY
đš Agreement to acquire SkyWater Technology
đš Cash, cash equivalents & investments: $3.3BQ1â26 Guide:
đšâŚ pic.twitter.com/LrsCzN1tCH— Wall St Engine (@wallstengine) February 25, 2026
The numbers were hard to ignore.
Full-year 2025 revenue came in at $130 million, up 202% year over year. That milestone made IonQ the first publicly traded quantum computing company to cross $100 million in annual revenue.
Q4 alone brought in $61.9 million â beating the company’s own guidance midpoint by 55% and topping the Zacks consensus estimate by over 53%. That kind of beat is unusual at any stage, let alone in a capital-heavy deep-tech sector.
On the earnings side, IonQ reported Q4 EPS of $1.93. The street was expecting a loss of $0.48 per share. That’s a 502% earnings surprise.
CEO Niccolo de Masi called 2025 “a year of tremendous accomplishments and a strategic and financial inflection point” for the company.
Despite the strong print, IONQ has lost about 29.5% since the start of the year, while the S&P 500 has gained roughly 0.7% over the same period.
What IonQ Is Building Toward
The company isn’t just resting on last year’s results. IonQ issued 2026 revenue guidance of $225 million to $245 million â nearly doubling its 2025 record.
It also recently announced a $1.8 billion deal to acquire SkyWater Technology, a quantum chip foundry. The move would give IonQ the ability to manufacture its own chips domestically, targeting government and defense customers who need a U.S.-based supply chain.
IonQ also expanded its global partnership with QuantumBasel to over $60 million across four years and is targeting a 256-qubit sixth-generation machine by end of 2026.
The company is pushing beyond pure-play quantum computing into networking, sensing, and security â positioning itself as a full-stack quantum platform.
The Risks Are Real
IonQ is still unprofitable. The company expects an adjusted EBITDA loss of up to $330 million in 2026 as it pours money into research, hiring, and manufacturing.
The current consensus EPS estimate for the coming quarter sits at -$0.40 on revenues of $38.61 million. For the full fiscal year, the estimate is -$1.52 on $198.77 million in revenues.
Zacks currently rates the stock a #3 Hold, suggesting it’s expected to perform in line with the market near-term. That rating may shift as analysts update their models following the earnings call.
Wall Street’s Take
Analysts hold a Moderate Buy consensus on IONQ, based on seven Buy ratings and three Holds over the last three months.
The average price target sits at $70.25, implying more than 100% upside from current levels.
Those targets are likely to be revised in the days ahead as coverage gets updated.
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