IONQ financial statements

The full income statement, balance sheet, and cash-flow statement for IonQ Inc. (IONQ), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 214.1M2024-09 216.4M2024-12 222.8M2025-03 247.8M2025-06 296.8M2025-09 325.3M2025-12 366.6M2026-03 373.3M2026-06 381.0M+78.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	130M YoY+201.9%	43.1M YoY+95.4%	22.0M YoY+98.0%	11.1M YoY+430.3%	2.10M
Research & development	306M YoY+123.4%	137M YoY+48.2%	92.3M YoY+109.9%	44.0M YoY+117.4%	20.2M YoY+99.2%
Selling, general & administrative	245M YoY+244.9%	71.1M YoY+40.1%	50.7M YoY+41.0%	36.0M YoY+161.8%	13.7M YoY+287.3%
General & administrative	245M YoY+244.9%	71.1M YoY+40.1%	50.7M YoY+41.0%	36.0M YoY+161.8%	13.7M YoY+287.3%
Selling & marketing	53.4M YoY+88.2%	28.4M YoY+55.4%	18.3M YoY+117.9%	8.38M YoY+159.4%	3.23M YoY+565.2%
Amortization of intangibles	52.8M YoY+842.9%	5.60M YoY+75.0%	3.20M YoY+100.0%	1.60M YoY+100.0%	800K
Operating income	-634M YoY-172.6%	-232M YoY-47.4%	-158M YoY-84.0%	-85.7M YoY-121.6%	-38.7M YoY-145.9%
Net interest income	56.0M YoY+206.8%	18.2M YoY-5.6%	19.3M YoY+172.4%	7.09M YoY+10982.8%	64.0K
Other non-operating income	29.0K YoY+110.5%	-275K YoY-223.5%	-85.0K YoY-1516.7%	6.00K YoY-78.6%	28.0K
Pre-tax income	-557M YoY-67.9%	-332M YoY-110.2%	-158M YoY-225.1%	-48.5M YoY+54.3%	-106M YoY-588.4%
Income tax	-44.6M YoY-75645.8%	59.0K YoY+22.9%	48.0K	0.00	0.00
	-510M YoY-53.9%	-332M YoY-110.2%	-158M YoY-225.2%	-48.5M YoY+54.3%	-106M YoY-588.4%
Net income to non-controlling interest	-1.74M	0.00	0.00	—	—
	-$1.82 YoY-16.7%	-$1.56 YoY-100.0%	-$0.78 YoY-212.0%	-$0.25 YoY+67.5%	-$0.77
EPS (basic)	-$1.82 YoY-16.7%	-$1.56 YoY-100.0%	-$0.78 YoY-212.0%	-$0.25 YoY+67.5%	-$0.77
	280M YoY+31.6%	213M YoY+5.2%	203M YoY+2.5%	198M YoY+43.7%	138M
	280M YoY+31.6%	213M YoY+5.2%	203M YoY+2.5%	198M YoY+43.7%	138M
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.59B YoY+582.8%	379M YoY-2.9%	390M YoY+4.9%	372M YoY-29.8%	530M YoY+1272.8%
Cash & equivalents	1.03B YoY+1795.2%	54.4M YoY+52.5%	35.7M YoY-19.6%	44.4M YoY-88.9%	399M YoY+1004.7%
Short-term investments	1.36B YoY+376.1%	286M YoY-10.6%	320M YoY+2.7%	311M YoY+152.3%	123M
Accounts receivable	66.5M YoY+553.0%	10.2M YoY-11.2%	11.5M YoY+248.3%	3.29M YoY+365.6%	707K YoY+81.3%
Inventory	10.3M	0.00	—	—	—
Prepaid expenses	128M YoY+351.0%	28.3M YoY+22.7%	23.1M YoY+84.1%	12.5M YoY+94.6%	6.44M YoY+211.4%
Other current assets	25.1M YoY+882.7%	2.56M YoY-8.7%	2.80M YoY-18.2%	3.42M	—
	6.57B YoY+1192.4%	508M YoY-8.2%	554M YoY-7.4%	598M YoY-6.9%	642M YoY+961.6%
Property, plant & equipment	120M YoY+127.7%	52.8M YoY+40.6%	37.5M YoY+44.2%	26.0M YoY+37.9%	18.9M YoY+57.4%
Operating lease right-of-use	22.7M YoY+140.0%	9.47M YoY+105.3%	4.61M YoY+22.9%	3.75M YoY-6.9%	4.03M YoY-6.1%
Goodwill	1.96B YoY+19726.2%	9.90M YoY+1234.8%	742K YoY+0.0%	742K	0.00
Intangible assets	767M YoY+2504.2%	29.5M YoY+95.5%	15.1M YoY+68.6%	8.94M YoY+53.1%	5.84M YoY+117.4%
Long-term investments	945M YoY+3912.1%	23.5M YoY-76.6%	100M YoY-44.8%	182M YoY+127.2%	80.1M
Other non-current assets	165M YoY+3627.5%	4.44M YoY-13.9%	5.16M YoY+5.0%	4.91M YoY+38.0%	3.56M YoY+21.5%
	167M YoY+362.3%	36.1M YoY-2.9%	37.2M YoY+84.3%	20.2M YoY+108.0%	9.69M YoY+415.2%
Accounts payable	26.1M YoY+399.8%	5.23M YoY-6.6%	5.60M YoY+83.3%	3.06M YoY+62.3%	1.88M YoY+249.8%
Accrued liabilities	89.7M YoY+433.7%	16.8M YoY-8.5%	18.4M YoY+176.1%	6.66M YoY+151.4%	2.65M YoY+335.4%
Deferred revenue	42.1M YoY+294.4%	10.7M YoY-11.7%	12.1M YoY+38.5%	8.73M YoY+154.5%	3.43M YoY+1329.2%
Current lease liability	8.85M YoY+162.9%	3.37M YoY+374.1%	710K YoY+20.1%	591K YoY+4.0%	568K YoY+14.7%
	2.76B YoY+2113.7%	125M YoY+81.6%	68.6M YoY+130.3%	29.8M YoY-41.4%	50.8M YoY+649.8%
Deferred revenue (non-current)	1.92M	0.00 YoY-100.0%	447K YoY-62.8%	1.20M YoY-21.7%	1.53M YoY+37.1%
Non-current lease liability	21.2M YoY+47.4%	14.4M YoY+94.2%	7.39M YoY+113.8%	3.46M YoY-5.1%	3.64M YoY-3.5%
Operating lease liability (total)	30.0M YoY+69.4%	17.7M YoY+118.7%	8.11M YoY+100.1%	4.05M YoY-3.8%	4.21M
Deferred tax liabilities	85.7M	0.00	—	—	—
Other non-current liabilities	95.2M YoY+2704.1%	3.39M YoY+2551.6%	128K YoY-57.8%	303K	0.00
	3.80B YoY+889.8%	384M YoY-20.9%	485M YoY-14.6%	568M YoY-3.9%	591M YoY+1000.9%
Common stock	36.0K YoY+63.6%	22.0K YoY+10.0%	20.0K YoY+0.0%	20.0K YoY+5.3%	19.0K YoY+533.3%
Additional paid-in capital	5.01B YoY+369.0%	1.07B YoY+27.2%	839M YoY+9.0%	770M YoY+4.4%	737M YoY+690.0%
Retained earnings	-1.19B YoY-74.6%	-684M YoY-94.2%	-352M YoY-81.2%	-194M YoY-33.3%	-146M YoY-268.1%
Accumulated other comprehensive income	-12.7M YoY-8170.7%	157K YoY+108.0%	-1.97M YoY+73.3%	-7.36M YoY-4869.6%	-148K
Non-controlling interest	14.2M	0.00	—	—	—
Total equity incl. non-controlling	3.81B YoY+893.5%	384M YoY-20.9%	485M YoY-14.6%	568M	—
Total liabilities & equity	6.57B YoY+1192.4%	508M YoY-8.2%	554M YoY-7.4%	598M YoY-6.9%	642M YoY+961.6%
	363M YoY+63.4%	222M YoY+7.4%	207M YoY+3.4%	200M YoY+2.2%	196M YoY+65.6%
	363M YoY+63.4%	222M YoY+7.4%	207M YoY+3.4%	200M YoY+2.2%	196M YoY+65.6%
	367M YoY+64.5%	223M YoY+7.0%	208M YoY+3.3%	202M YoY+2.0%	198M
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	-283M YoY-168.0%	-106M YoY-34.1%	-78.8M YoY-76.3%	-44.7M YoY-68.4%	-26.5M YoY-121.0%
Depreciation & amortization	82.0M YoY+339.6%	18.7M YoY+79.8%	10.4M YoY+85.1%	5.60M YoY+119.9%	2.55M YoY+82.0%
Intangible amortization	52.8M YoY+842.9%	5.60M YoY+75.0%	3.20M YoY+100.0%	1.60M YoY+100.0%	800K
Share-based compensation	312M YoY+192.0%	107M YoY+53.2%	69.7M YoY+121.7%	31.5M YoY+306.0%	7.75M YoY+533.0%
Deferred income taxes	-44.9M	0.00	0.00	0.00	—
Change in receivables	37.7M YoY+2441.0%	-1.61M YoY-119.7%	8.18M YoY+441.4%	1.51M YoY+376.3%	317K YoY+9.3%
Change in payables	-7.64M YoY-1170.5%	-601K YoY-127.5%	2.19M YoY+106.4%	1.06M YoY+38.9%	763K YoY+694.8%
	-2.10B YoY-2632.4%	82.7M YoY+20.3%	68.8M YoY+122.3%	-309M YoY-44.6%	-214M YoY-1731.0%
Capital expenditure	16.4M YoY-8.8%	18.0M YoY+31.3%	13.7M YoY+46.8%	9.34M YoY+20.0%	7.78M YoY-22.4%
Free cash flow	-300M YoY-142.3%	-124M YoY-33.7%	-92.5M YoY-71.2%	-54.0M YoY-57.4%	-34.3M YoY-55.7%
Acquisitions	-523K YoY-103.4%	15.5M	0.00	0.00	0.00
Sales/maturities of investments	683M YoY+63.3%	418M YoY+8.1%	387M YoY+24.7%	310M	0.00
Other investing activities	4.22M YoY-24.3%	5.58M YoY-4.6%	5.85M	—	—
	3.36B YoY+7956.7%	41.7M YoY+2267.2%	1.76M YoY+60.7%	1.10M YoY-99.8%	603M YoY+218460.5%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	3.31B	0.00	0.00	0.00	0.00
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
Other financing activities	7.88M YoY+3211.3%	238K YoY+203.5%	-230K YoY-1250.0%	20.0K	—
FX effect on cash	581K YoY+2224.0%	25.0K YoY+1350.0%	-2.00K	0.00	—
Net change in cash	981M YoY+5129.0%	18.8M YoY+326.4%	-8.29M YoY+97.7%	-353M YoY-197.2%	363M YoY+1650.4%
Income taxes paid	0.00	0.00	0.00	—	—
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	16.5B YoY+76.7%	9.31B YoY+267.0%	2.54B YoY+267.7%	690M YoY-79.1%	3.30B
P/S	126.5× YoY-41.4%	216.1× YoY+68.2%	128.5× YoY+67.1%	76.9× YoY-95.1%	1572.7×
P/B	4.3× YoY-82.1%	24.2× YoY+376.6%	5.1× YoY+324.5%	1.2× YoY-78.5%	5.6×
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: IONQ's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all IONQ filings on SEC EDGAR → Not investment advice.