IonQ, Inc. (IONQ)

IonQ, Inc. describes itself as the world's first and only quantum platform company, operating across space, air, land, and sea to deliver quantum technology in the areas of computing, networking, sensing, and security. The company is developing trapped-ion quantum computers using technologies such as barium qubits and electronic qubit control, aiming to achieve fault-tolerant quantum computing through increasing physical and logical qubit counts and improved qubit performance. IonQ believes its proprietary technology, architecture, and exclusively licensed technology provide competitive advantages in both research and development and commercial product value.

The company sells specialized quantum computing hardware alongside complementary quantum networking, sensing, and security products, along with associated maintenance and support services. It provides cloud-based access to its quantum computers—known as quantum-computing-as-a-service (QCaaS)—through three major platforms: Amazon Web Services' Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its own cloud service for select customers. IonQ also sells complete quantum computing systems directly to customers, either via the cloud or on-premises, and offers professional services to help customers apply quantum solutions to their businesses.

Additionally, through a network of satellites, the company provides data-as-a-service offerings, including synthetic-aperture radar imaging, and plans to combine its satellite platform with quantum sensing technology to eventually offer advanced quantum positioning, navigation, and timing services. IonQ remains in the early stages of commercial growth and has incurred significant operating losses since inception, with net losses attributable to the company of $510.4 million, $331.6 million, and $157.8 million for the years ended December 31, 2025, 2024, and 2023, respectively, and an accumulated deficit of $1,194.1 million as of December 31, 2025. The company expects continued substantial losses as it invests in achieving technical milestones necessary for broad quantum advantage.

IonQ has historically pursued acquisitions and investments in complementary businesses to expand its capabilities, including a pending acquisition of SkyWater Technology, Inc., and intends to continue this strategy going forward.