IonQ, Inc. (IONQ) FY2025 10-K Annual Report
IonQ, Inc. (IONQ) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
IonQ, Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Quantum platform company offering quantum computing hardware, networking, sensing, security products, and QCaaS via major cloud providers and own platform
- • New emphasis on acquisitions in 2025-2026: Oxford Ionics (EQC semiconductor scaling), Lightsynq (photonic interconnect), plus id Quantique, Vector Atomic, Capella Space, Skyloom, and pending SkyWater acquisition for secure foundry access
Management Discussion & Analysis
- • Revenue $130.0M in 2025, up 202% YoY from $43.1M in 2024, driven by quantum hardware progress and acquisitions
- • Operating loss $633.7M in 2025 vs $232.5M in 2024, net loss attributable to IonQ $510.4M vs $331.6M, no margin % disclosed
Risk Factors
- • No specific regulatory or legal risk named in text
- • No geopolitical or macroeconomic threat detailed
IonQ, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$130M
▲ +201.9% YoY
Net Income
-$510M
▼ -53.9% YoY
Operating Margin
-487.4%
▲ +5226bp YoY
Net Margin
-392.6%
▲ +37741bp YoY
ROE
-13.4%
▲ +7296bp YoY
Total Assets
$6.6B
▲ +1192.4% YoY
EPS (Diluted)
$-1.82
▼ -16.7% YoY
Operating Cash Flow
-$283M
▼ -168.0% YoY
Source: XBRL data from IonQ, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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