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IonQ Cash Flow Statement

Operating, investing, and financing cash movements

IonQ generated -$401.2M in operating cash flow over the trailing twelve months. After $22.5M in capital expenditures, free cash flow was -$423.7M. Free cash flow decreased 2.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)-$401.2MNet Cash From Investing (TTM)-$2.3BNet Cash From Financing (TTM)$3.0BCapital Expenditures (TTM)$22.5MDepreciation And Amortization Cf (TTM)$118.6MNet Change In Cash (TTM)$357.8M
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$21.6B
ROE-15.98%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$15.5M-$0-$28.7M$41.8M-$13.6M$33.3M
Capital expenditures$3.6M$2.3M$1.2M$4.1M$8.8M$8.4M
Payment for (Proceeds from) Other Investing Activity$4.4M$1.1M———$1.4M
Payments to Acquire Other Investments$0$22.1M$22.1M$22.1M$22.1M—
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$99.9M$93.8M$117.4M$196.6M$275.1M$292.1M
Purchases Of Strategic Investments—$0———$52.5M
Net cash from investing activities$24.4M-$230.2M$0-$672.7M-$1.2B-$391.9M
Other investing activities$4.4M$1.1M———$1.4M
Proceeds from maturities/sales of investments$99.9M$93.8M$117.4M$196.6M$275.1M$292.1M
Purchases of investments$55.2M$320.6M$114.6M$817.2M$1.4B$588.3M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Change in accounts payable-$138K$3.3M—-$18.5M—$9.4M
Change in accounts receivable—-$748K$4.3M$12.3M$21.8M$23.2M
Change in accrued liabilities-$1M$6.1M$14.6M$7M—-$24.9M
Change in deferred revenue—$1.3M-$1.3M$272K$9M$11.1M
Change in other assets$5.3M$12.5M$12.7M$17.4M$29.6M$41.6M
Other working capital changes—$480K$1.8M$2.7M$3.5M$2.3M
Deferred income taxes$0$0-$15.3M-$4.6M-$25M-$6.5M
Depreciation and amortization$5.5M$6.6M$10.6M$24.2M$40.6M$43.1M
Net cash from operating activities-$39.4M-$33M-$52.6M-$123.1M-$74.5M-$151M
Net income-$202M-$32.3M-$177.5M-$1.1B—$804.6M
Deferred revenue—$1.3M-$1.3M$272K$9M$11.1M
Increase (Decrease) in Prepaid Expense and Other Assets$5.3M$12.5M$12.7M$17.4M$29.6M$41.6M
Other Noncash Income (Expense)-$1M$584K-$2.1M-$4.4M-$12.5M-$8.5M
Stock-based compensation$39.3M$33.3M$99.2M$72.9M$106.7M$128.5M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other, net$94K$516K——$6.9M$1.5M
Proceeds From Warrant Exercises$33.4M$4.7M$890K$1.1M$4.7M$2.2M
Net cash from financing activities$39.3M$368.7M$4.1M$1B$2B$6.9M
Other financing activities$94K$516K——$6.9M$1.5M
Proceeds from issuance of common stock$0$362.3M—$1.4B$2B$0

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow-$43M-$35.3M-$53.8M-$127.2M-$83.3M-$159.4M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash$21K-$13K$404K$0$206K-$417K
Net increase (decrease) in cash$24.2M$105.5M$0$208.8M$685.4M-$536.4M
At The Market Offering Issuance Costs In Accounts Payable And Accrued Expenses—$4M———$0
Bonus Settled In Restricted Stock Units—$7M———$28M
Accrued payables for capital expenditures$501K$152K———$1.6M
Equity Issued For Acquisitions$0$0$461.8M$1.9B$182.1M$164.6M
Equity Issued For Intangible Assets$0$0———$14.8M
Equity Issued For Research And Development Arrangement$0$0———$73M
Non Cash Reclassification Of Warrant Liabilities To Equity Upon Exercise$69.4M$11M$2.8M$171.7M$347M$7.1M