IonQ (IONQ) reported R&D of $125.74M in Q1 2026.

How has IonQ's R&D changed year-over-year?

IonQ's R&D increased by 214.7% year-over-year, from $39.95M to $125.74M.

What is the long-term trend for IonQ's R&D?

Over 4 years (2021 to 2025), IonQ's R&D has grown at a 97.2% compound annual growth rate (CAGR), from $20.23M to $305.71M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

IonQ IONQ R&D

R&D at other companies

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Alphabet Inc.GOOGL

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Infleqtion INFQ

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Other financials

Income statement

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Revenue$64.7M+755%

Gross profit$15.4M+374%

Operating income-$271.5M-259%

Net income$805.4M+2,597%

EPS (diluted)$2.07+1,579%

Balance sheet

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Cash & equivalents$501.4M+209%

Total debt$30.4M+75.4%

Total equity$5.0B+550%

Total assets$6.7B+687%

Cash flow

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Operating cash flow-$151.0M-357%

CapEx$8.4M+263%

Free cash flow-$159.4M-351%

Valuation

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Market cap$12.65B+7.1%

Enterprise value$12.18B+4.2%

P/S67.6×-158×

Profitability

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Gross margin34.6%-15.5pp

Operating margin-443.3%-89.3pp

Net margin-1,836.3%-2,750pp

FCF margin-226.4%-49.5pp

Returns & leverage

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Return on equity-108.2%-223pp

Debt / equity0×0.0×

Current ratio14.1×+0.9×

Where this comes from

Reported directly by IonQ in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: IonQ’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is IonQ's R&D?: IonQ (IONQ) reported R&D of $125.74M in Q1 2026.
How has IonQ's R&D changed year-over-year?: IonQ's R&D increased by 214.7% year-over-year, from $39.95M to $125.74M.
What is the long-term trend for IonQ's R&D?: Over 4 years (2021 to 2025), IonQ's R&D has grown at a 97.2% compound annual growth rate (CAGR), from $20.23M to $305.71M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.