IonQ, Inc. (IONQ)

NYSE: IONQ · Services-Computer Integrated Systems Design · College Park, MD · filing with the SEC since 2020

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Grade5.1

◀ Past 4.4● Present 4.4▶ Future 7.2

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of IonQ, Inc.

Nine metrics read from its own filings, by tense

Headline grade

5.1/10

◀ Past4.440% of the headline

● Present4.435% of the headline

▶ Future7.225% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

4.4/1040% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

2.3/10

Has it survived what it has been through?

4 warning events since 2020; the latest 2021-10-04.

weight 33% of this tense · 23rd percentile among 45 sector filers · read for itself

From the record

IonQ, Inc.'s filings since 2020 show 4 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2021-06-01); a warning not to rely on past financial statements (8-K item 4.02, the latest 2021-05-18); an auditor change (8-K item 4.01, the latest 2021-10-04); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2021-05-18) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

6.1/10

What has it actually done, year after year?

6 filed years; profitable in 0 of 6.

weight 45% of this tense · 61st percentile among 38 sector filers · read for its customers

From the record

IonQ, Inc.'s 6 filed years say what it did: it rose in 4 of 4 years; it never fell from a peak; net income was positive in 0 of 6 of those years (its annual reports).

What it rests on

the share of years revenue rosetop 17% of its family
the share of filed years with a profitbottom 17% of its family
the deepest fall from a revenue peak0.0%top 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

4.0/10

How has it treated the people who own it?

SI estimate 4.0/10, confidence 35 of 100 (one part).

weight 22% of this tense · 40th percentile among 41 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 40% of 41 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 41 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: IonQ, Inc.'s shareholder treatment is put at 4.0 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 40% of 41 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.4/1035% of the headline grade · 3 of 3 filed

Financial health

as filed

4.5/10

Is it financially healthy right now?

ROE -13%: lost 13¢ per shareholder dollar. Leverage 42%: owes 42¢ per asset dollar.

weight 33% of this tense · 46th percentile among 41 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, IonQ, Inc. lost about 13 cents for every dollar of shareholders' money. Leverage: it owed about 42 cents per dollar of assets, and net share issuance: its share count grew 31.6% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 37% of its family
return on equitybottom 44% of its family
the share count against the year beforebottom 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

5.4/10

How strong is its position in its industry?

top 46% of 40 in its family; net margin -392.6%.

weight 45% of this tense · 54th percentile among 40 sector filers · read for its customers

From the record

IonQ, Inc.'s standing among 40 graded names in its industry family: revenue of $130 million in fiscal 2025 ranks in the bottom 46% by size; a net margin of -392.6% ranks in the bottom 21%; revenue growth of 126.9% a year over the last 3 filed years ranks in the top 6% (its annual reports).

What it rests on

revenue against the family$130Mbottom 46% of its family
net margin-392.6%bottom 21% of its family
three-year revenue growth126.9%top 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed

2.3/10

What are the people in charge doing?

bottom 23% of 26 in its family for leadership; chief executive since 2025.

weight 22% of this tense · 23rd percentile among 26 sector filers · read for its shareholders

From the record

IonQ, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is De, Masi Niccolo (President and CEO, as filed), filing under that title since 2025-02-28, 1.7 years (bottom 31% of its family); the 16 officers and directors filing in the last fifteen months have been on the record a median of 1.5 years (bottom 10%); 14 officer or director changes were reported on Form 8-K since 2023-11-13, against the 16 people in charge now (bottom 28%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

officer and director changes on Form 8-K, against the people in charge14 in three years among 16 peoplebottom 28% of its family
the median years the people in charge have filed1.5 yearsbottom 10% of its family
the chief executive's years on the record1.7 yearsbottom 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

7.2/1025% of the headline grade · 3 of 3 filed

Room to expand

as filed

5.4/10

How much room does it have to grow?

top 46% of 39 in its family for room to expand.

weight 22% of this tense · 54th percentile among 39 sector filers · read for itself

From the record

IonQ, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $1.0 billion against no long-term debt tagged leaves 15.7% of its assets as net cash, top 38% of its family; cash from operations less capital spending is -230.4% of revenue (bottom 22%); research spending of 235.1% of revenue (top 21%) (its annual report).

What it rests on

cash less debt against assets15.7%top 38% of its family
cash from operations less capital spending against revenue-230.4%bottom 22% of its family
research spending against revenue235.1%top 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

8.8/10

What could actually drive growth from here?

top 12% of 38 in its family for growth drivers.

weight 45% of this tense · 88th percentile among 38 sector filers · read for its customers

From the record

IonQ, Inc.'s growth drivers, from the filed years to fiscal 2025: the newest year grew 202.1% (top 7%); research spending grew 90.8% a year (top 5%); capital spending grew 20.7% a year (top 24%) (its annual reports). IonQ, Inc. reported 2 product lines in fiscal 2025: Quantum Hardware at $70 million (54%), Platform Consulting and Support Services at $60 million (46%); 2 of 2 grew against the year before (its annual report).

What it rests on

the newest year's revenue growth202.1%top 7% of its family
three-year growth of research spending90.8%top 5% of its family
three-year growth of capital spending20.7%top 24% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

6.1/10

Did its newest year beat what its own record pointed to?

top 39% of 32 in its family for expectations against reality.

weight 33% of this tense · 61st percentile among 32 sector filers · read for its shareholders

From the record

IonQ, Inc.'s newest year against its own record: revenue of $130 million in fiscal 2025 came in 53.5% above the $85 million its prior three years' pace pointed to (top 20% of its family); net income of $510 million against a prior three-year average of $179 million (bottom 11%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 8%) (its annual reports).

What it rests on

revenue against the prior three years' pace53.5%top 20% of its family
net income against the prior three years' average-185%bottom 11% of its family
net margin against its prior averageup more than 100 pointstop 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton IONQ · research, not advice