New York, February 27, 2026, 07:27 EST — Premarket
IonQ surged 21.7% to finish at $40.88 on Thursday after its fourth-quarter numbers and 2026 revenue outlook beat forecasts. Shares changed hands at a brisk pace—volume reached 66.4 million, well past the stock’s three-month norm. Some smaller quantum names edged higher too, but their gains didn’t match IonQ’s.
This shift is notable; quantum computing stocks aren’t moving on lab progress anymore, but on whether companies can actually show “real revenue.” Cash burn gets hit hard by investors. Still, they’re willing to pay for growth that seems like it can last.
IonQ stands out as one of the rare public players in the sector handing investors both a straightforward quarterly report and a sales outlook. Like it or not, others in the group often end up following its lead.
IonQ posted $61.9 million in revenue for the fourth quarter, bringing full-year 2025 revenue to $130.0 million. Looking ahead, the company expects 2026 revenue to land between $225 million and $245 million. Chairman and CEO Niccolo de Masi described 2025 as “a strategic and financial inflection point.” CFO and COO Inder Singh noted that commercial customers provided over 60% of this year’s revenue, with international sales contributing more than 30%. Cash and investments stood at $3.3 billion at the end of the year. IonQ
IonQ is targeting the launch of an “operational 256 qubit system” in the fourth quarter of 2026, executives told investors on the company’s earnings call, according to the transcript. In a quantum computer, a qubit acts as the core unit of information—think of it as the quantum version of a classical bit. Investing.com
The company flagged another Thursday announcement, saying it has rolled out tech for Romania’s National Quantum Communication Infrastructure—36 quantum-secured links now running across over 1,500 kilometers. In quantum key distribution (QKD), quantum phenomena transmit encryption keys, making any snooping attempts more obvious.
Wall Street took a split view after the numbers landed. Rosenblatt’s John McPeake is still bullish, sticking with his buy call and a $100 price target. DA Davidson’s Alexander Platt, on the other hand, stayed neutral and slashed his target to $35. Needham’s Quinn Bolton also dialed back, now seeing $65 as fair value, Benzinga reported.
Yet risks linger, even after a blowout quarter. IonQ continues to project heavy losses. The intended SkyWater Technology deal introduces fresh hurdles—both execution and regulatory sign-off. And there’s still plenty of uncertainty in the market over how soon quantum computing shifts from pilot projects to full-scale, recurring use.
Investors are watching for possible changes in management’s outlook on demand and deal flow when IonQ takes the stage at the Morgan Stanley Technology, Media & Telecom Conference on March 4, followed by the Cantor Global Technology & Industrial Growth Conference on March 11.
