Filing Flows › IonQ (IONQ) › Takeover & LBO
Is IonQ (IONQ) a takeover target?
A leveraged buyout does not work for IonQ on its latest figures: it has no positive EBITDA to borrow against (−$852M over the last 12 months, on revenue of $246M). Historically 2.3% of companies with its figures were bought within a year (0.45× the average). Latest signal (2026-11-05): IonQ Announces Record 3Q26 Revenues and Raises FY2026 Guidance to $505 - $515 Million as Backlog Grows to $1.2 Billion.
Why a leveraged buyout does not fit
A leveraged buyout is paid for mostly with debt that the company's own cash flow repays. IonQ's EBITDA over the last 12 months was −$852M on revenue of $246M, so there is nothing to lend against and nothing to repay a loan with: a buyer would have to pay almost entirely with its own money. That is the kind of deal another company — a strategic buyer that wants the products, the pipeline or the technology — makes, not a private-equity fund. The model therefore gives no buyout price.
What a takeover could cost
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, IonQ would cost about $47.05 a share, $17.3B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 12% | $40.54 | $14.9B |
| Median | 30% | $47.05 | $17.3B |
| High end (a quarter paid more) | 31% | $47.42 | $17.4B |
The odds, from history
Historically 2.3% of companies with its figures were bought within a year (0.45× the average). Its figures put it in decile 1 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Rumors and deal signals
- 2026-11-05 · 8-K deal · IonQ Announces Record 3Q26 Revenues and Raises FY2026 Guidance to $505 - $515 Million as Backlog Grows to $1.2 Billion
IonQ's latest quarter
IonQ, Q3 2026: revenue $174M (+336% year over year), operating margin -249.1%, net earnings $563M, operating cash flow −$316M. The chart follows the revenue to costs, profit and cash.
Questions
Is IonQ being acquired?
The latest signal on file is from 2026-11-05: IonQ Announces Record 3Q26 Revenues and Raises FY2026 Guidance to $505 - $515 Million as Backlog Grows to $1.2 Billion. A headline is not a deal; Filing Flows lists the news, 8-K filings and 13D filings about a sale.
Could private equity buy IonQ?
A leveraged buyout does not work for IonQ on its latest figures: it has no positive EBITDA to borrow against (−$852M over the last 12 months, on revenue of $246M). With no cash flow to repay a loan, a buyer would pay almost entirely with its own money: a deal for another company (a strategic buyer), not for a private-equity fund.
What would a takeover of IonQ cost?
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, IonQ would cost about $47.05 a share, $17.3B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.