IonQ (NYSE:IONQ) Q4 2025 Earnings call February 25, 2026 04:30 PM ET Speaker7Welcome to the IonQ 4th quarter 2025 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by 0. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then 1 on a touch-tone phone. To withdraw your question, please press star, then 2. Please note this event ...

February 25, 2026 Copyright © 2026 IonQ, Inc. All Rights Reserved. Important Information Forward-Looking Statements and Other Information This presentation contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including but not limited to statements regarding our guidance for our financial performance, our quantum computing roadmap, expected growth in our employee base and R&D spend and our ability to enable increased scale and growth. I ...

FORM 10-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39694 IONQ, INC. (Exact name of Registrant as specified in its charter) Delaware 85-2992192 (State or other jurisdiction of incorporation or organization) 4505 Campus Drive College Park, MD 20740 (Address of principal executive offices) (Zip Code) Registrant's telephone number, ...

IonQ Faces a $16 Billion Valuation Test When Earnings Drop Tonight - 24/7 Wall St.[S&P 5006,927.00 +0.52%][Dow Jones49,256.00 +0.18%][Nasdaq 10025,269.80 +1.16%][Russell 20002,648.21 -0.13%][FTSE 10010,764.60 +0.47%][Nikkei 22559,490.30 +2.69%][Stock Market Live February 25, 2026: S&P 500 (SPY) Up on Trump and Tech][Investing]# IonQ Faces a $16 Billion Valuation Test When Earnings Drop Tonight### Quick ReadIonQ (IONQ) trades at $16B market cap on just $43.1M in 2024 revenue. That's a 142x price- to-sales ra ...

Core Insights - The latest Form 13F filings indicate a decline in institutional investor confidence in quantum computing stocks, specifically IonQ, Rigetti Computing, and D-Wave Quantum [4][12][19] Industry Overview - Quantum computing is viewed as a potential trillion-dollar opportunity, with estimates suggesting it could generate $450 billion to $850 billion in global economic value by 2040, and possibly reach $1 trillion by 2035 [5][6] - The technology has promising applications, including AI algorithm training, cybersecurity improvements, and drug development simulations [6] Company Performance - Quantum computing stocks have shown impressive trailing 12-month (TTM) returns, with Rigetti Computing achieving over 6,200% TTM gain as of mid-October [2] - Despite early-stage wins and partnerships, such as Amazon's Braket service, institutional investors are pulling back from these stocks [7][9] Investment Trends - Institutional ownership in IonQ decreased from 57.35% to 54.71%, Rigetti from 50.71% to 48.45%, and D-Wave from 53.94% to 48.76% [12] - The aggregate number of shares held by 13F filers rose for IonQ but fell for Rigetti and D-Wave, indicating a complex investment landscape [14] Market Sentiment - The current market sentiment suggests that quantum computing stocks may be overvalued, with TTM price-to-sales ratios above 30 indicating potential bubble conditions [18] - Historical trends show that transformative technologies often face bubble-bursting events due to overestimation of adoption rates [16]

Core Viewpoint - The article highlights that while quantum computing has potential, it is not yet a near-term growth driver for companies like IBM, which offers a more established investment opportunity with significant exposure to quantum innovation and a profitable AI-driven business [1][2][4]. Quantum Computing Strategy - IBM has been investing in quantum computing hardware and software for decades, aiming to achieve "quantum advantage" by the end of 2026 and develop a large-scale, fault-tolerant computer by 2029 [5][8]. - The first 120-qubit Nighthawk system is set for client use in late 2025, indicating progress in quantum capabilities [7]. Financial Performance - In Q4, IBM's software revenue increased by 14% year-over-year to $9 billion, making up nearly 46% of total revenue, showcasing a shift towards a software-led model [10]. - IBM generated $14.7 billion in free cash flow in fiscal 2025, with guidance for nearly $15.7 billion in 2026, providing flexibility for dividends and acquisitions [11]. AI Strategy - AI is a significant growth engine for IBM, with a cumulative generative AI business valued at over $12.5 billion, including over $2 billion in software and more than $10.5 billion in consulting [12]. - The company's AI stack, including the watsonx suite and Red Hat OpenShift platform, is designed to enhance productivity and flexibility across hybrid cloud environments [13]. Competitive Positioning - IBM's acquisition strategy, including a planned $11 billion acquisition of Confluent, aims to enhance its AI capabilities by providing access to live enterprise data [14]. - Management anticipates that nearly 50% of enterprise AI usage will occur in private clouds or on-premise data centers in the next three to five years, positioning IBM favorably in this market [15]. Valuation - IBM is trading at 19.2 times forward earnings with a 2.6% dividend yield, presenting a balanced exposure to quantum computing research, AI monetization, recurring software revenue, and strong free cash flows [17].

Key Takeaways IonQ expects Q4 revenues above $39.9M after Q3's 222% year-over-year surge.IONQ raised $2B in October, boosting liquidity to about $3.5B amid heavy R&D spending.QBTS projects $4.14M Q4 revenues, with bookings above $12M and $800M in cash.IonQ (IONQ) and D-Wave Quantum (QBTS) are expected to report fourth-quarter 2025 results this week. After a year marked by aggressive capital raises, strong technical claims and expanding pipelines, investors now need confirmation that momentum is translating ...

I am Steven Cress, Head of Quantitative Strategies at Seeking Alpha. I manage the quant ratings and factor grades on stocks and ETFs in Seeking Alpha Premium. I also lead Alpha Picks , which selects the two most attractive stocks to buy each month, and also determines when to sell them.Steven Cress is VP of Quantitative Strategy and Market Data at Seeking Alpha. Steve is also the creator of the platform’s quantitative stock rating system and many of the analytical tools on Seeking Alpha. His contributions f ...

Key Takeaways IonQ launched IonQ Federal and sees over $1B in proposals as Q3 revenue jumped 222% year over year.IonQ plans Tempo shipments in 2026 and a 256-qubit demo, anchoring its commercialization push.IonQ's $1.8B SkyWater deal targets a two-million-qubit chip and lower sub-$30M build costs.IonQ (IONQ) is positioning itself at the intersection of national security priorities and scalable quantum infrastructure. With a strengthened balance sheet and an expanded roadmap, management is targeting meaningf ...

Here's a look at what investors need to know. IONQ stock is moving. See the chart and price action here. Just before the upcoming Q4 earnings report expected on Wednesday afternoon, Morgan Stanley analyst Joseph Moore slashed his price projection for IonQ. The new target is $35, down from $58, suggesting modest growth of roughly 13.7%. The analyst kept his neutral Hold rating as the company prepares to share its data on Wednesday evening.Factors Behind the CutMoore's decision to lower IonQ's valuation stems ...