IONQ
IonQ, Inc.Evidence as of 2026-10-08The desk's Snapshot
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Overview · IonQ, Inc.
IonQ, Inc. engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service. It also provides consulting…
Management team
- Dr. Dean Kassmann · Vice President of EngineeringFind on LinkedIn
- Jordan Shapiro · VP of Financial Planning & Analysis and Head of Investor RelationsFind on LinkedIn
- Dr. Jungsang Kim · Co-Founder, CTO, Chief Strategy Officer & DirectorFind on LinkedIn
- Ms. Margaret Arakawa · Chief Marketing OfficerFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.5 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
The evidence balance is Cautious ( -0.5 ) with high confidence. Revenue climbed across the recent reporting periods from $ 39,866,000 in fiscal Q3 2025 (fiscal quarter ended 2025-10-29) to $ 64,668,000 in fiscal Q1 2026 (fiscal quarter ended 2026-04-29) and to $ 80,050,000 in fiscal Q2 2026 (fiscal quarter ended 2026-07-29). Operating losses widened over the same span from $( 168,813,000 ) to $( 271,507,000 ) and then to $( 337,243,000 ), while net income swung from a loss of $( 1,054,955,000 ) to income of $ 805,360,000 and back to a loss of $( 1,867,742,000 ); diluted EPS followed that volatility at $( 3.58 ), $ 2.07 and $( 5.08 ) respectively.
Cash and equivalents rose materially to $ 1,235,729,000 as of fiscal Q2 2026, shares outstanding increased to 381,002,314, and R&D spend rose to $ 160,627,000 in fiscal Q2 2026. Filings underline continued operating-loss expectations, specific scaling and manufacturing risks (ion transport, photonic interconnects, integration of quantum memories), and SkyWater acquisition and integration risk; market signals are mixed to volatile (6‑month momentum + 42.6 %, 90‑day volatility 79.5 %, beta 3.50).
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenue increased sequentially from $39,866,000 in fiscal Q3 2025 (2025-07-01 to 2025-09-30) to $64,668,000 in fiscal Q1 2026 (2026-01-01 to 2026-03-31) and to $80,050,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30).
XBRL companyfacts · 0001193125-25-266942Operating loss widened from $(168,813,000) in fiscal Q3 2025 (2025-07-01 to 2025-09-30) to $(271,507,000) in fiscal Q1 2026 (2026-01-01 to 2026-03-31) and further to $(337,243,000) in fiscal Q2 2026 (2026-04-01 to 2026-06-30).
XBRL companyfacts · 0001193125-25-266942Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
For the year ended December 31, 2025, the company reported a loss from operations of $633.7 million and an accumulated deficit of $1,194.1 million as of December 31, 2025.
Item 1A risk-factor diff · 0001193125-26-071562 vs 0000950170-25-027722The filings state the company expects to continue to incur operating losses in the near future as it invests in design, development and construction of quantum computers and other products and expands R&D, manufacturing capabilities, inventories, sales and marketing, distribution infrastructure and general and administrative costs.
Item 1A risk-factor diff · 0001193125-26-071562 vs 0000950170-25-027722Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
Momentum over the past 6 months is +42.6%, ranked in the 90th percentile of the 866-stock research universe as of 2026-10-07.
Moneyta signal set · 2026-10-07weakened in debateRelative strength versus SPY over the past 6 months is +27.6%, with a rank in the 90th percentile of the 866-stock universe as of 2026-10-07.
Moneyta signal set · 2026-10-07Reads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Institutional holders reported aggregate holdings valued at "$12.73B" as of 2026-06-30 (13F data carry a 45-day reporting lag).
13F holdings · 808 filers · as of 2026-06-30Top institutional holders listed include MORGAN STANLEY ($1.40B, value_qoq_pct 129.4), BlackRock, Inc. ($1.11B, value_qoq_pct 29.2), and SUSQUEHANNA INTERNATIONAL GROUP, LLP ($894.4M, value_qoq_pct 149.4) as of 2026-06-30.
13F holdings · 808 filers · as of 2026-06-30Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
A company-specific positive development reported in a headline is that IonQ advanced to Stage C of DARPA’s Quantum Benchmarking Initiative (headline published 7 October 2026).
News · finance.yahoo.com · 2026-10-07Multiple headlines focus on recent product and technical progress, including a real-time quantum error correction decoder running on standard CPUs (headline published 5 October 2026).
News · simplywall.st · 2026-10-05Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Niccolo de Masi (President and CEO) reported a transaction on 2026-09-11 for 16,121 shares with a reported value of "$598k" (implied price ≈ $37.09/share); no 10b5-1 plan is indicated on that filing.
Form 4 · de Masi Niccolo (President and CEO) · $598k code F · 2026-09-11Inder M. Singh (CFO & COO) reported a transaction on 2026-09-11 for 6,272 shares with a reported value of "$233k" (implied price ≈ $37.15/share); no 10b5-1 plan is indicated on that filing.
Form 4 · Singh Inder M (CFO & COO) · $233k code F · 2026-09-11Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
Market capitalization implied by the price $41.34 and 381,002,314 shares outstanding is $15,750,635,661.
Valuation inputs · SEC XBRL + stored EOD closeFree cash flow for the trailing twelve months is negative $233,331,000 and free cash flow per share is negative $0.6346.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
The evidence set collectively supports a favorable operational and market-read: sequential revenue growth (fundamentals-0) coincides with a large increase in cash and equivalents (fundamentals-5), heavy R&D investment (fundamentals-6) and significant institutional ownership (ownership-0, ownership-1), all of which point to accelerating commercial traction and financing capacity rather than a pure liquidity drain. Market signals and recent company-specific headlines (market-0, market-1, news-0, news-1, news-2) strengthen the read that market participants are pricing company-specific technical and deployment progress into the stock. The bear case hinges on wide operating losses, volatile net income and material risks disclosed in filings (fundamentals-1, fundamentals-2, filings-0 through filings-4) — these are valid concerns but the evidentiary strength is mixed because losses coexist with rising cash balances and fresh institutional commitment, while R&D and deployments provide context that the spending is tied to product scaling efforts. Weaknesses in the negative claims include that net income swings appear driven by non-operational items (timing and one-off effects implied by volatility claims fundamentals-2 and fundamentals-3) and that share count increases (fundamentals-4) are documented but accompanied by a much larger absolute cash build (fundamentals-5), which affects net funding impact. Overall, the strongest supporting evidence is the combination of revenue acceleration, cash runway growth, R&D investment and institutional demand; the strongest contestable items are the operating losses, headline risks and valuation metrics that rely on negative denominators (valuation-1, valuation-2, valuation-3).
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.34
41 surviving claims rest on 18 distinct sources; the heaviest analyst carries 17% of them, and 98% of what the desk raised survived the debate.
The surviving set is supported by multiple document types, which helps reduce single-source error, but a small number of analysts and a concentrated subset of sources carry outsized influence — that magnifies the risk that an uncorrected mistake or bias could persist. High internal survival through debate increases internal consistency but does not replace independent external validation, so treat these claims as informative but not definitive.
Peer context · computed, not argued
12-1 momentum ranks 8th of 8 in Computer Hardware (as of 2026-10-07).
6-month relative strength ranks 6th of 8 in Computer Hardware (as of 2026-10-07).
90-day volatility ranks 5th of 8 in Computer Hardware (as of 2026-10-07).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
11 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer−0.4 to the score
13 documents· 1 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes−1.0 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.3 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.4 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
18 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot+0.0 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on IONQ Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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