Filing Flows › IonQ (IONQ) › Q1 2026
IonQ (IONQ) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
IonQ (IONQ) reported revenue of $64.7M for the first quarter 2026 (Q1 2026), +755% from a year earlier and +4% from the quarter before. Operating margin was -419.8%.
IonQ, Q1 2026: revenue $64.7M (+755% year over year), operating margin -419.8%, net earnings $805M, operating cash flow −$151M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $64.7M | +4% | +755% |
| Operating profit | −$272M | — | — |
| Net earnings | $805M | +7% | — |
| Operating cash flow | −$151M | — | — |
What changed
Revenue was $64.7M in Q1 2026, up 755% year over year and up 4% from the previous quarter. Quantum Hardware was the largest line at 55% of revenue. Quantum Hardware added $32.6M year over year (up 1066%), 57% of the total change.
Operating costs exceeded revenue by $271.5M, an operating margin of -419.8%. Total costs grew 304% against revenue growth of 755%. The fastest-growing cost line was Cost of revenue (+1041%). Net earnings were $805.4M ($804.6M including minority interests, which bore $750K of losses). The effective tax rate was -0.8%. Non-operating items added $1,069.7M, 134% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$151.0M. Non-cash charges added back $43.1M of depreciation and amortization and $128.5M of share-based compensation. Working capital and other items used $1,127.3M. Capital expenditures of $8.4M exceeded it, leaving free cash flow of −$159.4M.
Questions
What was IonQ's revenue in the first quarter 2026?
IonQ (IONQ) reported revenue of $64.7M for the first quarter 2026 (Q1 2026), +755% from a year earlier and +4% from the quarter before.
Was IonQ profitable in the first quarter 2026?
Operating loss was $272M (-419.8% of revenue) and net earnings $805M.
Source: IonQ 10-Q on SEC EDGAR.