Financial health
- The company is unprofitable; at its current free-cash-flow burn it has roughly 3.4 years of cash runway.
IONQ Financials IonQ
6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $130M | -$510M | 0.0% | -487.4% | -$300M | — | $1.0B |
| 2024 | $43M | -$332M | 0.0% | -539.7% | -$124M | — | $54M |
| 2023 | $22M | -$158M | 0.0% | -715.7% | -$93M | — | $36M |
| 2022 | $11M | -$49M | 0.0% | -770.3% | -$54M | — | $44M |
| 2021 | $2M | -$106M | 0.0% | -1843.1% | -$34M | — | $399M |
| 2020 | $0 | -$15M | — | — | -$22M | — | $36M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $65M | $805M | 0.0% | -419.8% | -$159M | — | $494M |
| Dec '25 | $62M | $754M | 0.0% | -369.4% | -$83M | — | $1.0B |
| Sep '25 | $40M | -$1.1B | 0.0% | -423.5% | -$127M | — | $346M |
| Jun '25 | $21M | -$177M | 0.0% | -776.0% | -$54M | — | $140M |
| Mar '25 | $8M | -$32M | 0.0% | -1000.3% | -$35M | — | $160M |
| Dec '24 | $12M | -$202M | 0.0% | -661.9% | -$43M | — | $54M |
| Sep '24 | $12M | -$52M | 0.0% | -428.5% | -$23M | — | $30M |
| Jun '24 | $11M | -$38M | 0.0% | -430.0% | -$34M | — | $42M |
| Mar '24 | $8M | -$40M | 0.0% | -697.4% | -$24M | — | $60M |
| Dec '23 | $6M | -$42M | 0.0% | -891.7% | -$34M | — | $36M |
| Sep '23 | $6M | -$45M | 0.0% | -687.6% | -$26M | — | $37M |
| Jun '23 | $6M | -$44M | 0.0% | -600.0% | -$17M | — | $14M |
| Mar '23 | $4M | -$27M | 0.0% | -654.0% | -$15M | — | $52M |
| Dec '22 | $4M | -$19M | 0.0% | -620.6% | -$16M | — | $44M |
| Sep '22 | $3M | -$24M | 0.0% | -901.6% | -$14M | — | $57M |
| Jun '22 | $3M | -$2M | 0.0% | -725.8% | -$13M | — | $44M |
| Mar '22 | $2M | -$4M | 0.0% | -936.2% | -$11M | — | $87M |
| Dec '21 | $2M | -$74M | 0.0% | -657.6% | -$7M | — | $399M |
| Sep '21 | $233000 | -$15M | 0.0% | -4516.7% | -$14M | — | $587M |
| Jun '21 | $93000 | -$10M | 0.0% | -10739.8% | -$7M | — | — |
Valuation over time
How the market has priced IONQ against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-sales ratio has fallen from 205.6× (Mar '23) to 145.9× (Jun '26).
P/S
Frequently asked questions
Is IONQ growing its revenue and profit?
See the revenue and net-income charts above for IonQ's multi-year trend.
How much debt does IONQ have?
As of FY2025, IonQ reported — of total debt against $1.0B of cash.
What is IONQ's profit margin?
In FY2025, gross margin was —, operating margin -487.4%, and net margin -392.3%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.