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IonQ IONQ Q4 2025 Annual earnings

Reported February 25, 2026 · After market close

Revenue$61.9MBeat by $21.5M
EPS$1.93Beat by $2.41
Revenue estimate$40.4M
EPS estimate-$0.48

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$71.7M
EPS estimate-$0.75

Financials

Q4 2025

Income statement

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Revenue$61.9M+429%
Gross profit$18.3M+175%
Operating income-$228.6M-195%

Balance sheet

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Cash & equivalents$1.0B+1,726%
Total debt$30.0M+69.4%
Total equity$3.8B+890%
Total assets$6.6B+1,192%

Cash flow

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Operating cash flow-$74.5M-89.0%
CapEx$8.8M+145%
Free cash flow-$83.3M-93.6%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$15.9B+75.9%
Enterprise value$14.89B+65.4%
P/S122.3×-87.6×

Profitability

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Gross margin40.4%-11.8pp
Operating margin-487.4%-43.0pp
FCF margin-230.4%-38.0pp

Returns & leverage

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Debt / equity0×0.0×
Current ratio15.5×+5.0×

Segments

By product

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Platform Consulting And Support Services$31.6M+326%

FAQ

When did IonQ report Q4 2025 earnings?
IonQ (IONQ) reported Q4 2025 earnings on February 25, 2026 after market close.
What were IonQ's Q4 2025 revenue and EPS?
IonQ reported revenue of $61.9M and eps of $1.93 for Q4 2025.
Did IonQ beat estimates in Q4 2025?
Revenue beat the consensus estimate of $40.4M by $21.5M. EPS beat the consensus estimate of $-0.48 by $2.41.
How did IonQ's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 428.5% from $11.7M a year earlier.
Where can I find IonQ's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001193125-26-071520) and the 10-K periodic report (0001193125-26-071562) directly on SEC EDGAR. The filing index links above go to sec.gov.