Filing Flows › IonQ (IONQ) › Q2 2025
IonQ (IONQ) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
IonQ (IONQ) reported revenue of $20.7M for the second quarter 2025 (Q2 2025), +82% from a year earlier and +174% from the quarter before. Operating margin was -776.0%, net loss $178M (857.9% of revenue).
IonQ, Q2 2025: revenue $20.7M (+82% year over year), operating margin -776.0%, net loss $178M, operating cash flow −$52.6M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.7M | +174% | +82% |
| Operating profit | −$161M | — | — |
| Net earnings | −$178M | — | — |
| Operating cash flow | −$52.6M | — | — |
What changed
Revenue was $20.7M in Q2 2025, up 82% year over year and up 174% from the previous quarter. Quantum Computing and Networking Hardware was the largest line at 68% of revenue. Quantum Computing and Networking Hardware added $6.7M year over year (up 92%), 72% of the total change.
Operating costs exceeded revenue by $160.6M, an operating margin of -776.0%. Total costs grew 201% against revenue growth of 82%. The fastest-growing cost line was General & admin (+269%). The quarter ended with a net loss of $177.5M, wider than the previous quarter's $32.3M loss. Minority interests bore $692K of it: to shareholders the quarter was a loss of $176.8M.
Operating cash flow was −$52.6M. Non-cash charges added back $10.6M of depreciation and amortization and $99.2M of share-based compensation. Working capital and other items added $15.2M. Capital expenditures of $1.2M exceeded it, leaving free cash flow of −$53.8M.
Questions
What was IonQ's revenue in the second quarter 2025?
IonQ (IONQ) reported revenue of $20.7M for the second quarter 2025 (Q2 2025), +82% from a year earlier and +174% from the quarter before.
Was IonQ profitable in the second quarter 2025?
Operating loss was $161M (-776.0% of revenue) and net loss $178M.
Source: IonQ 10-Q on SEC EDGAR.