IonQ posts 755% revenue surge as stock falls 17%

IonQ reported a 755% year‑over‑year revenue increase in the first quarter of 2026, reaching $130 million and lifting its full‑year revenue outlook to $260‑$270 million. The company also disclosed a $470 million backlog of orders, a 550% rise from the previous year, and highlighted its record 99.99% two‑qubit gate fidelity.

Despite the strong operating numbers, IonQ's shares dropped 17% over the past week, with the 14‑day RSI sliding to 27.9, indicating an oversold condition. Market analysts link the decline to broader high‑growth stock rotation and concerns about pending antitrust review of a $1.8 billion SkyWater acquisition. The company will report its second‑quarter results on August 12, 2026.