Q4 2025 IONQ Inc Earnings Call Transcript

Feb 25, 2026 / 09:30 PM GMT

Transcript 10-K8-K

Key Points

Positve

IonQ Inc (IONQ) achieved a record year in 2025, with revenues growing over 3 times compared to 2024.
The company expanded its strategic focus to become the world's leading quantum platform solution and merchant supplier.
IonQ Inc (IONQ) demonstrated significant technological advancements, including 99.99% 2-qubit gate fidelity, which provides a strong error correction advantage.
The company secured the largest acquisition agreement in quantum history with Skywater, enhancing its manufacturing capabilities.
IonQ Inc (IONQ) reported strong investor interest, resulting in the two largest capital raises from a single investor in quantum history.

Negative

Despite strong revenue growth, IonQ Inc (IONQ) reported an adjusted EBITDA of negative $186.8 million for the year.
The company faces challenges in meeting demand, with demand exceeding supply for its quantum systems.
IonQ Inc (IONQ) is heavily investing in R&D, which increased by 123% annually, impacting short-term profitability.
The acquisition of Skywater is subject to regulatory approval, which could impact the timing and integration process.
There is a risk associated with the geopolitical race in quantum technology, which could affect IonQ Inc (IONQ)'s operations and partnerships.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

IONQ.N - IONQ Inc
Q4 2025 IONQ Inc Earnings Call
Feb 25, 2026 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to the I on Q4th quarter 2025 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the key followed by 0. After today's presentation, there will be an opportunity to ask questions. Questions to ask a question, you may press star, then 1 on a touchtone phone. To withdraw your question, please press 2.

Please note this event is being recorded. I would now like to turn the conference over to Hanley Dinofrio, director of investor relations. Please go ahead.

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Unidentified_2 [2]
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