Last Updated -
February 26, 2026
Explore the business model, global strategy, and market performance including insights into its position in China.
IonQ, Inc. was founded in 2015 by Dr. Chris Monroe and Dr. Jungsang Kim and is headquartered in College Park, Maryland. The company develops general-purpose trapped-ion quantum computers and software based on research licensed from the University of Maryland and Duke University. IonQ offers quantum computing through major cloud platforms and through direct enterprise deployments. The company frames its mission around applying quantum technology to complex computational problems.
IonQ listed on the New York Stock Exchange under the ticker IONQ on October 1, 2021, following its business combination with dMY Technology Group III. In 2025, IonQ reported a performance milestone of #AQ 64 on its Tempo system. The company expanded commercial activity in Europe and Asia, including an extended QuantumBasel partnership valued at over $60 million through 2029 and an agreement to deliver a 100-qubit Tempo system to South Korea’s KISTI.
IonQ has widened its portfolio through acquisitions, including a controlling stake in ID Quantique focused on quantum-safe networking and the acquisition of Oxford Ionics to accelerate its trapped-ion roadmap. In its fourth-quarter and full-year 2025 results, IonQ recognized $61.9 million of GAAP revenue in Q4 and $130.0 million for full-year 2025, and reported $3.3 billion of cash, cash equivalents, and investments as of December 31, 2025. IonQ also announced an agreement to acquire SkyWater Technology.
IonQ reports revenue from five categories: quantum-computing-as-a-service (QCaaS), sales of specialized quantum computing hardware with related maintenance and support, sales of quantum networking products with related services and maintenance, consulting services tied to algorithm co-development, and satellite imagery and data delivered through its online platform. In Q4 2025 the company recognized $61.9 million of GAAP revenue, and $130.0 million for full-year 2025, ending the year with $3.3 billion in cash, cash equivalents, and investments.
IonQ positions trapped-ion systems around benchmarked performance and roadmap execution, highlighting #AQ 64 on Tempo and 99.99% two-qubit gate fidelity disclosed in 2025 updates. Strategically, it has been stitching together compute, networking, sensing, security, and manufacturing depth through acquisitions and announced deals, including Oxford Ionics and the pending SkyWater Technology acquisition. Competition spans hyperscalers and specialized quantum hardware firms, with differentiation driven by technical performance, product breadth across adjacent quantum markets, and the ability to deliver both cloud access and on-prem deployments.
IonQ does not report an operating footprint in mainland China. In Q4 2025, IonQ reported $61.9 million of revenue and $3.3 billion of cash, cash equivalents, and investments, with international sales making up more than 30% of full-year revenue. In its quarterly filings, IonQ states that accounts receivable are derived primarily from customers located in the United States, including the U.S. government.
China exposure is shaped by export-control compliance rather than local sales execution. IonQ discloses that its products, technology, and services sit under U.S. export controls and sanctions regimes, and it highlights restricted-party list risk that includes entities in China. It also notes that multiple countries, including the United States and key allies, have enacted export controls covering quantum computing hardware and related software at defined performance thresholds. Against this backdrop, China is building domestic alternatives such as Origin Quantum’s “Origin Wukong” superconducting system and cloud access.
IonQ’s next phase centers on scaling revenue while converting technical progress into repeatable demand, multi-year commitments, and larger deployments. In Q4 2025, IonQ recognized $61.9 million of GAAP revenue and ended 2025 with $130.0 million of GAAP revenue and $3.3 billion of cash, cash equivalents, and investments. For 2026, the company guided to $225 million to $245 million of revenue, including $48 million to $51 million in Q1, alongside an adjusted EBITDA loss outlook of $310 million to $330 million.
This Company Profile was written by Dominik Diemer
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