IonQ, Inc.

For the period ended Dec 31, 2025. Filed Feb 25, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 25, 2026

IONQ$35.34+8.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Operations

(in thousands, except share and per share data)

	Year EndedDecember 31,
	2025	2024	2023
Revenue	$130,016	$43,073	$22,042
Costs and expenses:
Cost of revenue (excluding depreciation and amortization)	77,488	20,597	8,108
Research and development	305,705	136,827	92,321
Sales and marketing	53,447	28,395	18,270
General and administrative	245,087	71,055	50,722
Depreciation and amortization	82,004	18,654	10,375
Total operating costs and expenses	763,731	275,528	179,796
Loss from operations	(633,715)	(232,455)	(157,754)
Gain (loss) on change in fair value of warrant liabilities	66,710	(117,107)	(19,206)
Interest income, net	55,997	18,249	19,322
Offering costs associated with warrants	(45,714)	—	—
Other income (expense), net	29	(275)	(85)
Loss before income tax expense	(556,693)	(331,588)	(157,723)
Income tax benefit (expense)	44,572	(59)	(48)
Net loss	$(512,121)	$(331,647)	$(157,771)
Net loss attributable to noncontrolling interests	(1,743)	—	—
Net loss attributable to IonQ, Inc.	$(510,378)	$(331,647)	$(157,771)
Net loss per share attributable to IonQ, Inc. common stockholders—basic and diluted	$(1.82)	$(1.56)	$(0.78)
Weighted average shares used in computing net loss per share attributable to IonQ, Inc. common stockholders—basic and diluted	280,345,046	213,029,365	202,576,492

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.