IonQ (NYSE: IONQ) shares rose approximately 10% in Friday’s premarket trading after the quantum computing company beat third-quarter earnings expectations and raised its full-year 2026 revenue forecast to $505 million–$515 million from $450 million–$460 million.
The Maryland-based company reported record third-quarter revenue of $173.8 million, up 336% from a year earlier and above analysts’ expectations of approximately $141.7 million. The result marked its sixth consecutive quarter of record revenue. The company also posted an adjusted loss of $0.29 per share, narrower than analysts had expected.
Based on $318.5 million in total revenue during the first nine months, IonQ’s revised full-year guidance implies fourth-quarter revenue of approximately $186.5 million–$196.5 million. The company also expects its quantum computing revenue to grow approximately 110% year over year in 2026.
The premarket recovery followed a nearly 12% drop over two trading sessions, with IonQ shares closing Thursday at $26.43 after touching a 52-week low of $24.91.
Separately, IonQ Tokenized Stock (IONQon) was trading at $28.55, down 2.06% over 24 hours, according to CoinMarketCap. Its 24-hour price change covers a different measurement period from the NYSE-listed stock’s Friday premarket gain.
IonQ Revenue Breakdown, Losses and Cash Position
IonQ’s quarterly revenue reflected contributions from its recently acquired semiconductor foundry business and the Platform segment.
SkyWater Foundry Services generated $83.5 million in revenue after intersegment eliminations, accounting for approximately 48% of consolidated revenue. IonQ completed its acquisition of the semiconductor foundry on July 31, meaning the reported quarter included two months of SkyWater’s operations.
The Platform segment contributed another $90.3 million in revenue, up 127% from a year earlier. The company attributed the increase partly to global deployments of its Tempo quantum computers and deliveries of other quantum technology products. Acquisitions also contributed to the segment’s growth.
Despite the revenue increase, IonQ recorded a $433.1 million operating loss and a $133.6 million adjusted EBITDA loss, reflecting continued operating expenses and investment in its technology and business operations.
The company also reported $564 million in GAAP net income attributable to IonQ, primarily reflecting an $896.2 million noncash gain from changes in the fair value of its warrant liabilities.
IonQ used $570.3 million in cash from operating activities in the first nine months of 2026, compared with $208.7 million a year earlier. The company held $1.7 billion in cash, cash equivalents, and investments as of September 30, rising to $3.7 billion on a pro forma basis following a $2 billion equity offering completed on October 16.
IonQ’s Contracted Work and Superion 256 Demand
IonQ reported approximately $1.2 billion in remaining performance obligations, representing contracted work for which the company had not yet fully recognized revenue. The total included $689 million from its Platform segment, up from $485 million in the previous quarter, and $479 million from SkyWater Foundry Services.
IonQ expects to recognize approximately half of its remaining performance obligations as revenue over the next 12 months, according to its quarterly filing.
The company’s remaining performance obligations include signed contracts for which funding has not yet been appropriated but exclude contract options that customers have not exercised. Revenue recognition depends on meeting the underlying contractual obligations.
The Platform segment signed about $290 million in new contracts in the third quarter, including $180 million tied to quantum computing. Those contracts included demand for the company’s Superion 256 quantum computing systems.
During an earnings call, Chairman and CEO Niccolo de Masi said IonQ had sold out its available production capacity for Superion 256 systems in 2027 and was beginning to fill orders for 2028. However, IonQ has not disclosed how many Superion 256 systems have been ordered for either year or provided revenue guidance for 2027.
De Masi said SkyWater provided substantial chip manufacturing capacity, while IonQ would continue expanding its ability to produce complete quantum computing systems.