IonQ, Inc.
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
View on SEC.govAbout 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$34.99-1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Year EndedDecember 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net loss | $(512,121) | $(331,647) | $(157,771) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 82,004 | 18,654 | 10,375 |
| Stock-based compensation | 312,032 | 106,878 | 69,743 |
| (Gain) loss on change in fair value of warrant liabilities | (66,710) | 117,107 | 19,206 |
| Offering costs associated with warrants | 45,714 | — | — |
| Deferred income taxes | (44,868) | — | — |
| Amortization of premiums and accretion of discounts on available-for-sale securities | (8,323) | (8,804) | (9,746) |
| Other, net | 18,366 | 5,323 | 1,994 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (37,667) | 1,609 | (8,175) |
| Prepaid expenses and other current assets | (72,171) | (15,200) | (14,413) |
| Accounts payable | (7,636) | (601) | 2,188 |
| Accrued expenses and other current liabilities | 7,382 | (411) | 3,319 |
| Unearned revenue | 9,285 | (1,752) | 2,604 |
| Other assets and liabilities | (8,474) | 3,161 | 1,865 |
| Net cash provided by (used in) operating activities | $(283,187) | $(105,683) | $(78,811) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (16,417) | (17,992) | (13,703) |
| Purchases of available-for-sale securities | (2,669,300) | (296,329) | (298,445) |
| Maturities of available-for-sale securities | 682,830 | 418,082 | 386,760 |
| Purchases of privately-held securities | (88,500) | — | — |
| Businesses acquired, net of cash paid and acquired | 523 | (15,454) | — |
| Other investing, net | (4,224) | (5,577) | (5,846) |
| Net cash provided by (used in) investing activities | $(2,095,088) | $82,730 | $68,766 |
| Cash flows from financing activities: | |||
| Proceeds from common stock and warrant issuance, net of issuance costs | 3,312,541 | — | — |
| Proceeds from stock options exercised | 26,744 | 8,012 | 1,954 |
| Proceeds from warrants exercised | 11,436 | 33,437 | 37 |
| Other financing, net | 7,881 | 238 | (230) |
| Net cash provided by (used in) financing activities | $3,358,602 | $41,687 | $1,761 |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 581 | 25 | (2) |
| Net change in cash, cash equivalents and restricted cash | 980,908 | 18,759 | (8,286) |
| Cash, cash equivalents and restricted cash at the beginning of the period | 56,840 | 38,081 | 46,367 |
| Cash, cash equivalents and restricted cash at the end of the period | $1,037,748 | $56,840 | $38,081 |
| Supplemental disclosures of non-cash investing and financing transactions | |||
| Property and equipment purchases in accounts payable and accrued expenses | $1,278 | $1,060 | $773 |
| Operating lease right-of-use assets subject to lease liability | — | 6,129 | 2,380 |
| Noncash reclassification of warrant liabilities to equity upon exercise | 532,399 | 69,423 | 20 |
| Bonus settled in restricted stock units | 6,969 | 11,443 | 3,923 |
| Equity issued for acquisitions | 2,588,053 | — | — |
| Equity issued for intangible assets | 48,084 | — | — |
| Equity issued for research and development arrangement | 68,691 | — | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.