Valued at a market cap of over $20 billion, IonQ (IONQ) develops quantum computers and networks, selling access to systems of varying qubit capacities through cloud platforms including Amazon’s (AMZN) AWS, Microsoft’s (MSFT) Azure, and Alphabet’s (GOOG) (GOOGL) Google Cloud.
The Maryland-based company also provides quantum-safe networking solutions, quantum key distribution systems, random number generators, and single-photon detectors. Additionally, IonQ offers hardware design, consulting services, and algorithm development for quantum computing applications.
IONQ stock has almost tripled investor returns in the last 12 months and is expected to report its Q3 results tomorrow, Nov. 5, which will be a key driver of shares in the near term. Analysts tracking the quantum computing stock forecast sales to grow to $27 million in Q3 of 2025, up from $12.4 million in the year-ago period. Its loss per share is forecast to expand to $0.44 from $0.24 in the previous year.
IonQ delivered impressive second-quarter results, showcasing the quantum computing pioneer’s accelerating momentum across both computing and networking operations. Revenue reached $20.7 million, beating the high end of guidance by 15%, driven by the accelerated implementation of projects for existing customers. The company also completed a landmark $1 billion capital raise from Susquehanna, the largest single institutional investment in quantum computing history.
Management has raised its full-year 2025 revenue guidance to between $82 million and $100 million while expanding the company’s strategic footprint through several transformative acquisitions.
The pending Oxford Ionics acquisition positions IonQ to achieve an ambitious road map targeting 800 logical qubits by 2027 and 80,000 logical qubits by 2030. This represents what management believes is a five-year technical lead over competitors, with substantially superior unit economics that could be one to two orders of magnitude lower than rival approaches.
IonQ closed acquisitions of Lightsynq and Capella Space in Q2, expanding its quantum networking capabilities terrestrially and through space-based systems. The company now offers the only commercially certified quantum key distribution products globally, which offer theoretically unbreakable security based on physics rather than mathematical assumptions.
