Financial Data and Key Metrics Changes - IonQ reported fourth quarter revenues of $61.9 million, growing 429% year-over-year, and full year 2025 revenues reached $130 million, marking a 202% year-on-year growth [24][30] - The company exceeded its revenue guidance by 55% for the fourth quarter and 20% for the full year, outperforming the combined revenue expectations of other pure-play quantum players [24][30] - Adjusted EBITDA for the fourth quarter was -$67.4 million, and for the full year, it was -$186.8 million, reflecting significant investments in R&D [30][34] Business Line Data and Key Metrics Changes - Over 60% of revenue in 2025 came from commercial customers, indicating strong sales in the commercial sector [27] - The international sales comprised more than 30% of revenue for the first time, showcasing the global resonance of IonQ's quantum platform solutions [28] - The company welcomed new customers such as KISTI and CCRM, highlighting the demand for its fifth-generation systems [25][27] Market Data and Key Metrics Changes - IonQ's precision atomic clocks and quantum networking solutions are being adopted by various sectors, including defense and government contracts [14][15] - The company is expanding its presence in international markets, including partnerships in South Korea, Switzerland, and Romania [16][17] - The demand for post-quantum security solutions is increasing, reflecting a shift in urgency among customers [63] Company Strategy and Development Direction - IonQ aims to solidify its position as the world's leading quantum platform solution and merchant supplier, expanding beyond quantum computing to include networking, sensing, and security [5][6] - The acquisition of SkyWater Technology is intended to enhance supply chain security and manufacturing capabilities [23][37] - The company plans to achieve $235 million in revenue for 2026, driven by a growing customer base and product offerings [38][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in IonQ's ability to lead the quantum revolution, citing strong organic growth and technological advancements [6][11] - The company is focused on delivering solutions that integrate quantum computing, networking, and security, positioning itself as a comprehensive platform provider [45][74] - IonQ anticipates continued demand for its products and services, with expectations of exceeding 100% year-on-year growth in its compute platform [63] Other Important Information - IonQ's remaining performance obligations (RPO) stood at $370 million at the end of 2025, a significant increase from $77 million at the end of 2024 [29] - The company has a strong balance sheet with $3.3 billion in cash and investments, providing financial firepower for continued R&D and potential acquisitions [34][35] Q&A Session Summary Question: Can you provide insights on the SHIELD release and the $151 billion opportunity? - Management expressed enthusiasm about participating in the SHIELD initiative, emphasizing the need for integrated solutions rather than standalone products [44][45] Question: What is the status of the SkyWater regulatory approval process? - Management indicated that the regulatory process is well-defined and remains on track, emphasizing the importance of the acquisition for the industry [52][53] Question: How does the acquisition of SEED Innovations fit into IonQ's strategy? - The acquisition is seen as a unique opportunity to enhance both hardware and software capabilities, particularly in classified applications [54][55] Question: Can you elaborate on the guidance for 2026 revenue and the factors driving it? - Management highlighted the globalization of the company, strong demand for the fifth-generation machine, and the urgency for post-quantum security solutions as key drivers for the revenue guidance [61][63]

The Only Vertically Integrated Full-Stack Quantum Platform Company End-to-end innovation, engineering, manufacturing, and deployment — Across quantum computing, quantum networking, quantum sensing, and quantum security + Important Information and Where to Find It In connection with the acquisition described in this presentation (the "Transaction"), IonQ, Inc. ("IonQ") intends to file with the Securities and Exchange Commission (the "SEC") a Registration Statement on Form S-4 (the "Registration Statement") w ...