Quantum computing firm IonQ Inc. (IONQ) delivered record third-quarter revenue and raised its full-year guidance, pushing its shares up 4.8% in after-hours trading. IonQ’s revenue surged 222% year-over-year to $39.87 million, beating the consensus estimate of $26.99 million and exceeding the high-end of its guidance range by 37%.
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During the quarter, IonQ completed the acquisitions of Oxford Ionics and Vector Atomic, accelerating the expansion and strengthening of its full-stack quantum computing platform.
Details of IonQ’s Q3 Results
IonQ reported a diluted loss of $3.58 per share, significantly wider than the analysts’ expected loss of $0.44 per share. Its adjusted loss of $0.17 per share was also higher than the prior-year period’s loss of $0.11 per share. The widening losses reflect IonQ’s focus on spending for research and growth instead of short-term profits. The company is investing in faster product development, acquisitions, and expanding into government and business markets, which is causing the higher costs.
Based on the continued momentum, IonQ raised its fiscal 2025 revenue outlook to a range of $106 million to $110 million, up from its previous guidance of $82 million to $100 million. For reference, the current consensus estimate for full-year revenue stands much lower at $91.23 million.
The company also boosted its pro-forma cash position at quarter end to $3.5 billion, following a $2 billion equity offering conducted on October 14.
IonQ Achieves Remarkable Milestones
IonQ is among the leading quantum computing firms in the U.S. and is making rapid progress in commercializing its technology. It announced several major achievements during the quarter.
IonQ achieved a world-record two-qubit gate fidelity of 99.99%, setting the highest bar for quantum performance, crucial for building fault-tolerant and large-scale quantum computers.
The company also reached its 2025 performance milestone of #AQ 64 on the IonQ Tempo platform three months ahead of schedule, representing a computational capacity 36 quadrillion times greater than leading commercial superconducting systems.
In addition, IonQ secured a new contract with Oak Ridge National Laboratory to advance quantum applications in energy research and accelerate quantum–classical integration workflows.
Is IonQ a Good Stock to Buy?
On TipRanks, IONQ stock has a Strong Buy consensus rating based on six Buys and two Hold ratings. The average IonQ price target of $68.29 implies 23.2% upside potential from current levels. Year-to-date, IONQ has surged 32.7%.
