Filing Flows › IonQ (IONQ) › Q3 2025
IonQ (IONQ) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
IonQ (IONQ) reported revenue of $39.9M for the third quarter 2025 (Q3 2025), +222% from a year earlier and +93% from the quarter before. Operating margin was -423.5%.
IonQ, Q3 2025: revenue $39.9M (+222% year over year), operating margin -423.5%, net loss $1.1B, operating cash flow −$123M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $39.9M | +93% | +222% |
| Operating profit | −$169M | — | — |
| Net earnings | −$1.1B | — | — |
| Operating cash flow | −$123M | — | — |
What changed
Revenue was $39.9M in Q3 2025, up 222% year over year and up 93% from the previous quarter. Quantum Computing and Networking Hardware was the largest line at 54% of revenue. Quantum Computing and Networking Hardware added $15.2M year over year (up 240%), 55% of the total change.
Operating costs exceeded revenue by $168.8M, an operating margin of -423.5%. Total costs grew 218% against revenue growth of 222%. The fastest-growing cost line was General & admin (+476%). The quarter ended with a net loss of $1,055.6M, wider than the previous quarter's $177.5M loss. Minority interests bore $657K of it: to shareholders the quarter was a loss of $1,055.0M. Net interest and other expense of $891.2M was the main reason.
Operating cash flow was −$123.1M. Non-cash charges added back $24.2M of depreciation and amortization and $72.9M of share-based compensation. Working capital and other items added $835.4M. Capital expenditures of $4.1M exceeded it, leaving free cash flow of −$127.2M.
Questions
What was IonQ's revenue in the third quarter 2025?
IonQ (IONQ) reported revenue of $39.9M for the third quarter 2025 (Q3 2025), +222% from a year earlier and +93% from the quarter before.
Was IonQ profitable in the third quarter 2025?
Operating loss was $169M (-423.5% of revenue) and net loss $1.1B.
Source: IonQ 10-Q on SEC EDGAR.