IonQ posts 755% revenue jump, eyes $270 M 2026 target

IonQ reported first‑quarter revenue of $64.7 million, a 755% year‑over‑year increase and about 30% above its own guidance. Commercial customers contributed roughly 60% of the revenue, international sales about 35%, and the order book grew to $470 million, up 554% YoY. The company lifted its full‑year outlook to $260‑$270 million for 2026, while its market capitalization stands at roughly $13.35 billion. Shares rose 12% after the earnings release but remain 58% below the 52‑week high.

During the quarter IonQ sold its first 256‑qubit, sixth‑generation quantum computer to the University of Cambridge, completed the first commercial demonstration of two linked quantum computers, and secured a $39 million contract with the U.S. Space Development Agency. CEO Niccolò de Masi said the firm is moving from component‑level testing to integrated system‑level testing. By contrast, rival Rigetti faced revenue headwinds and capital constraints, widening the performance gap between the two quantum‑computing firms.