Ionq, Inc. · NYSE:IONQ

Ionq — Investor Day (September 2025)

114 slides from Ionq's investor day presentation, Sep 12, 2025

Slide 2: Cautionary Notes
Cautionary Notes This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Some of the forward-looking statements can be identified by the use of forwa
Slide 3: Today's Agenda
Today’s Agenda 01 Welcome: IonQ Quantum Leadership 02 Quantum Computing Roadmap 03 Lowering Cost-Per-Qubit 04 Creating an Ecosystem: Photonic Interconnect 05 Quantum Networking Ecosystem & Quantum Networking Demonstration Question & Answer Session 06 Enterprise-Grade Applications & Ecosystem 07 Cust
Slide 4: IonQ Quantum Leadership
01 IonQ Quantum Leadership: How IonQ Leads the Industry – and Stays Ahead Niccolo de Masi Chairman & CEO 4 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 6: Historic First-Mover Advantages Cemented Decade of Leadership
Historic First-Mover Advantages Cemented Decade of Leadership Hardware & Software Leadership Commercial Leadership Applications Leadership APR 2017 OCT 2018 AUG 2020 OCT 2020 APR 2021 MAR 2025 APR 2025 JUN 2025 IonQ System IonQ Compiler Deployed on Deployed on Deployed on Milestone Milestone Milesto
Slide 7: Unprecedented Momentum Positions IonQ to Lead the Next Decade
Unprecedented Momentum Positions IonQ to Lead the Next Decade Revenue growth nearly $100M+ AFRL deals pioneering Historic strategic acquisitions fueling doubling YoY since IPO enterprise-grade quantum networking 1,000+ patent portfolio moat1 Orders-of-magnitude hardware 36 Quadrillion times larger L
Slide 8: IonQ Secures UK Regulatory Approval for Oxford Ionics Acquisition
IonQ Secures Regulatory Approval from the UK Investment Security Unit for the Acquisition of Oxford Ionics 8 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 9: The Best Solution Across Every Unit Economic Vector
The Best Solution Across Every Unit Economic Vector Superconducting Business Impact <$30M Others have no public plans to reach 2M Cost per System >$1B BOM Cost BOM Cost physical qubits. Their estimated BOM (2 million physical qubits) costs are >30X more expensive vs. IonQ’s Other systems require mas
Slide 10: 36 Quadrillion Times Larger Computational Space
36 Quadrillion Times Larger Computational Space Algorithm Qubit Comparisons 64 IonQ #AQ 64 prototype system IBM Kingston has a computational space 36 quadrillion Heron r2 Circuit Width times larger than IonQ (Tempo Prototype) IBM’s current IBM Pittsburgh highest performing Heron r3 quantum system 1
Slide 11: IonQ's Enduring Quantum Leadership: The Next Decade and Beyond
IonQ’s Enduring Quantum Leadership: The Next Decade and Beyond 11 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 12: Integrating the World's Best Talent & Technology
Integrating the World’s Best Talent & Technology Quantum World Record Holders Dr. Chris Ballance Dr. Chris Monroe Dr. Mihir Bhaskar CEO, Oxford Ionics Chief Scientific Advisor & Co-Founder Head of Distributed Computing, IonQ Oxford Ionics Duke University | NIST University of Maryland (formerly CEO,
Slide 13: Leading Quantum Computing Technology Roadmap
Leading Quantum Computing Technology Roadmap Physical Qubits CY25 CY26 CY27 CY28 CY29 CY30 Logical Qubits 2,000,000 1,000,000 100,000 200,000 20,000 100,000 10,000 80,000 10,000 10,000 8,000 1,000 100-256+ 1,000 1,600 64-100+ 800 100 100 Logical Error Rates <1.00E-7 <1.00E-12 13 IonQ 2025 Analyst Da
Slide 14: Datacenter Scalability Matters
Datacenter Scalability Matters Building the Hardware and Software Stack to Support Quantum Cloud Growth at Scale NVIDIA Share Price (in US$) $200 $180 NOV 2022 $160 OpenAI Launches ChatGPT $140 $120 $100 APR 2020 NVIDIA Closes $80 Acquisition of Mellanox $60 $40 $20 - Source: Capital IQ 14 IonQ 2025
Slide 15: We Are Delivering Early Quantum Advantage Today
We Are Delivering Early Quantum Advantage Today PHARMA SIMULATION AUTOMOTIVE QUANTUM NETWORKING QUANTUM NETWORKING Drug Discovery Computer Aided Engineering QML and Chemistry Military-Grade Networking QC Economy Networking Hub 20X Up to 12% Landing and $54.5M IonQ Forte Faster time-to-solution than
Slide 16: Exponential Edge in Logical Qubits and Fault Tolerance Race
Exponential Edge in Logical Qubits and Fault Tolerance Race Logical Qubits Quantinuum IonQ IBM 800 600 Broad Commercial Advantage 400 Narrow Commercial Advantage 200 2026 2027 2028 2029 2030 Note: Figures derived from publicly available roadmaps from IBM and Quantinuum, with reasonable approximation
Slide 17: Exponential Edge in Logical Qubits and Fault Tolerance Race
Exponential Edge in Logical Qubits and Fault Tolerance Race Logical Qubits Quantinuum IonQ IBM 1600 1400 1200 1000 Broad Commercial Advantage 800 600 400 Narrow Commercial Advantage 200 2026 2027 2028 2029 2030 Note: Figures derived from publicly available roadmaps from IBM and Quantinuum, with reas
Slide 18: Exponential Edge in Logical Qubits and Fault Tolerance Race
Exponential Edge in Logical Qubits and Fault Tolerance Race Logical Qubits Quantinuum IonQ IBM 8000 6000 Broad Commercial Advantage 4000 1600 1400 1200 1000 800 600 400 200 Narrow Commercial Advantage 2026 2027 2028 2029 2030 Note: Figures derived from publicly available roadmaps from IBM and Quanti
Slide 19: Exponential Edge in Logical Qubits and Fault Tolerance Race
Exponential Edge in Logical Qubits and Fault Tolerance Race Logical Qubits Quantinuum IonQ IBM 80000 60000 Broad Commercial Advantage 40000 20000 8000 6000 4000 1400 1600 1200 1000 800 600 400 200 Narrow Commercial Advantage 2026 2027 2028 2029 2030 Note: Figures derived from publicly available road
Slide 20: Exponential Edge in Logical Qubits and Fault Tolerance Race
Exponential Edge in Logical Qubits and Fault Tolerance Race Logical Qubits Quantinuum IonQ IBM 80000 IonQ Exclusive Advantage 60000 Broad Commercial Advantage 40000 20000 8000 6000 4000 1400 1600 1200 1000 800 600 400 200 Narrow Commercial Advantage 2026 2027 2028 2029 2030 Note: Figures derived fro
Slide 21: Apps Market Opportunity
Exponential Edge: Logical Qubits Unlock Vast Application Space Training Robotic AI Models Training Robotic AI Models Quantum Federated Learning Quantum Federated Learning Optimization Of AI Agent Optimization Of AI Agent Action Planning Action Planning Materials Discovery For Materials Discovery For
Slide 23: Networking to Create the Global Quantum Internet
Networking to Create the Global Quantum Internet Delivering the Comprehensive Suite Poised to Lead Globally in Quantum Optimal Architecture for of Quantum Safe Communications Entanglement Distribution Distributed Quantum Computing 23 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reser
Slide 25: Industry Leading Commercial Product Portfolio
Industry Leading Commercial Product Portfolio Selling Planned Harmony Aria Forte Forte Enterprise Tempo 256 Qubit System 10K - 2M+ Qubit Systems 2019 2021 2023 2024 2025 2026 2027 - 2030+ IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 26: IonQ Full Stack Quantum Innovation
IonQ Full Stack Quantum Innovation IonQ Applications Development IonQ Quantum Networking Commercial Applications End-to-end Quantum Networks On-Prem or Cloud Access Quantum Internet IonQ Quantum SDKs, APIs, Compilers, Distributed IonQ Hybrid Services IonQ Quantum OS Quantum Computing Software Cross-
Slide 27: Algorithmic Qubits Explained
Algorithmic Qubits Explained Historic application-driven measure of customer value Successful results Qubit count, performance, and architecture all combine to give usable performance #AQ is defined as useable qubits in a quantum computer Defining #AQ based on QED-C benchmarking Circuit Width Optimi
Slide 28: 36 Quadrillion Times Larger Computational Space
36 Quadrillion Times Larger Computational Space Algorithm Qubit Comparisons 64 IonQ #AQ 64 prototype system IBM Kingston has a computational space 36 quadrillion Heron r2 Circuit Width times larger than IonQ (Tempo Prototype) IBM’s current IBM Pittsburgh highest performing Heron r3 quantum system 1
Slide 29: Evolving and Expanding Quantum Benchmarking Methodology
Evolving and Expanding Quantum Benchmarking Methodology Focusing on the metrics with real-world impact Physical Benchmarks Application Benchmarks • Number of Physical Qubits Accuracy of Solution Time to Solution • 2 Qubit Gate Fidelity • Number of Logical Qubits Cost to Solution • Gate Depth • Conne
Slide 30: Delivering the World's Most Powerful Quantum Computers
Delivering the World’s Most Powerful Quantum Computers Physical Qubits Logical Qubits Error Rate 5+ Years Ahead 2025 64-100+ 2026 100-256+ <1.00E-7 36 Quadrillion Times Larger 2027 10,000 800 <1.00E-7 Computational Space 2028 20,000 1,600 <1.00E-7 2029 200,000 8,000 <1.00E-12 Strongest U
Slide 32: Two Key Ingredients to Scale Quantum Computers
Two Key Ingredients to Scale Quantum Computers Size and performance are needed to unlock value 500 qubits Quera IBM 1 100 qubits Google Rigetti Number of Qubits SIZE 50 qubits Quantinuum 20 qubits 10 qubits 5 qubits 1 qubit Error Fidelity 1% 0.1% 0.01% Average two-qubit gate error rate 1. Based on I
Slide 33: Better Qubit Performance Unlocks Value Sooner
Better Qubit Performance Unlocks Value Sooner Quantum error correction is not a free lunch 20x Computational Power Better qubit performance leads to much larger computational power Number of Qubits 33 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 34: Better Qubit Performance Unlocks Value Sooner
Better Qubit Performance Unlocks Value Sooner We can achieve 20x more than competitors with the same resources 1 Other Approaches2 800 Logical qubits 10,000 41 Logical qubits Physical qubits (IonQ 2027 roadmap target) 1. For logical error rate 10-7, see e.g., https://arxiv.org/abs/2308.07915, https:
Slide 36: Achieving Record Breaking Two Qubit Gate Fidelity
Achieving Record Breaking 99.99% Two Qubit Gate Fidelity1 1. Oxford Ionics findings from a forthcoming study; details will be made available upon publication 36 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 37: Electronic Qubit Control: The Winning Secret Sauce
Electronic Qubit Control: The Winning Secret Sauce Using Silicon & Existing Semiconductor Supply Chain Most Scalable World’s Highest Fidelity Fastest Time to Solution Mass Manufacturable 37 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 38: Scaling Quantum the Semiconductor Way
Scaling Quantum the Semiconductor Way Simple, scalable and mass manufacturable 2-qubit 256-qubit 10,000-qubit unit cell quantum computer quantum computer 38 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 39: Best-in-Class Economics
Best-in-Class Economics Lowers cost per logical qubit $1,000+ Superconducting: >$1.0B Estimated BOM Estimated BOM Cost (US$ millions) $160 $120 >30X Larger BOM Cost $80 $40 100 256 1,000 10,000 20,000 100,000 200,000 2 million Number of Qubits Source: IonQ data estimated by Kearney; Superconducting
Slide 40: Creating An Ecosystem: Photonic Interconnect
04 Creating An Ecosystem: Photonic Interconnect Dr. Chris Monroe Dr. Mihir Bhaskar Chief Scientific Advisor & Co-Founder Sr. Director, Quantum Interconnects 40 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 41: Quantum Compute Follows the Path of Cloud Compute
Quantum Compute Follows the Path of Cloud Compute We are building the most efficient on-ramp for mass adoption Cloud Computing Single Core Multi-Core Compute Cluster Trillion Dollar Cloud Single Chain Multi-Unit Cell QPU Cluster Quantum Datacenter Cloud 41 IonQ 2025 Analyst Day Copyright © 2025 IonQ
Slide 42: Interconnect Enabling Datacenter Scale
Interconnect Enabling Datacenter Scale Interconnect as a sustainable competitive advantage Powerful Compute H100 GPU Module Ion trap QPU Differentiated Datacenter Interconnect Infiniband Quantum Interconnect Scalable System Design Datacenter Scale GPU Computing Datacenter Scale Quantum Computing Dat
Slide 43: Quantum Memories Increase Interconnect Speed
Quantum Memories Increase Interconnect Speed No Memory With Memory Up to 50x Faster 43 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 44: Lightsynq Quantum Memory
Lightsynq Quantum Memory 1 1 Leading quantum memory Proven to enhance networking rates over quantum channels 2 Integrated Photonics Approach Foundry-compatible nanofabrication for performance at scale 2 3 Proprietary Fiber-to-Chip Coupling Insertion loss 10x+ better than industry standard techniques
Slide 46: Quantum Networking
05 Quantum Networking Jordan Shapiro Dr. Grégoire Ribordy President & GM, Networking CEO, ID Quantique 46 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 47: Today's best classical security technology is still exposed to crippling data breaches
Today’s best classical security technology is still exposed to crippling data breaches 47 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 48: Quantum Computing Progress Creating Risk to Traditional Networking
Quantum Computing Progress Creating Risk to Traditional Networking “Cryptographically relevant quantum computers (CRQC) may be possible in as soon as three years. CRQCs would break all current encryption keys–posing an existential threat to national security and the global economy.” – US Department
Slide 49: Quantum Key Distribution Is Today's Solution
Quantum Key Distribution Is Today’s Solution Eve SCRAMBLED MESSAGE 1010101010110010101011010100 0011011010101010101010110010 Alice Bob 49 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 52: Delivering Quantum Key Distribution Products Today
Delivering Quantum Key Distribution Products Today Commercially Available Quantum Security Products Clavis XG QKD System Technology Readiness Level 9 First Certified QKD System in the World 52 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 53: Commercial Adoption Driving Value Creation
Commercial Adoption Driving Value Creation Leading Telecom, Financial and Government Customers Worldwide Interoperability Partnerships with Global Networking Giants 53 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 54: Building the Comprehensive Suite of Networking Products
Building the Comprehensive Suite of Networking Products to Enable Quantum Data Centers 54 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 55: One-Stop-Shop for Full Quantum Networks
One-Stop-Shop for Full Quantum Networks Photon Source Trapped Ion 493 nm Telecom Optical Fiber 1351 nm Quantum Frequency Converter Telecom Optical Fiber for Quantum Communications Timing Synchronization Prepare & Measure Quantum Key Distribution Quantum Detector Quantum Switch Quantum Repeater Distr
Slide 57: Quantum Frequency Converter
Quantum Frequency Converter Trapped Ion Telecom Optical Fiber 493 nm 1351 nm Telecom Optical Fiber for Quantum Communications 57 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 65: Quantum Key Distribution
Quantum Key Distribution Prepare & Measure Quantum Key Distribution Entanglement Quantum Key Distribution 65 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 66: One-Stop-Shop for Full Quantum Networks
One-Stop-Shop for Full Quantum Networks Photon Source Trapped Ion 493 nm Telecom Optical Fiber 1351 nm Quantum Frequency Converter Telecom Optical Fiber for Quantum Communications Timing Synchronization Prepare & Measure Quantum Key Distribution Quantum Detector Quantum Switch Quantum Repeater Distr
Slide 67: Vision for the Global Quantum Internet
Vision for the Global Quantum Internet Free Space Optical links Satellite Prepare & Measure Quantum Key Distribution Satellite to Satellite QKD Satellite Satellite to Ground Station QKD Ground Station to Satellite QKD Quantum Data Center US Ground Station UK Ground Quantum Data Center Secure ground
Slide 68: Vision for the Global Quantum Internet
Vision for the Global Quantum Internet Free Space Optical links Satellite Entanglement Distribution Satellite Satellite to Satellite Entanglement Distribution Satellite to Ground Station Entanglement Distribution Ground Station to Satellite Entanglement Distribution Quantum Data Center US Ground Sta
Slide 69: Case Study: Achieving Remote Entanglement Distribution Milestones with AFRL
Case Study: Achieving Remote Entanglement Distribution Milestones with AFRL COMPUTE ZONE INTERCONNECT ZONE 69 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 70: Case Study: Achieving Remote Entanglement Distribution Milestones with AFRL
Case Study: Achieving Remote Entanglement Distribution Milestones with AFRL Trapped Ion Telecom Optical Fiber 493 nm 1351 nm Computer #1 Computer #2 70 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 71: Commercially Deployed Quantum Networks
Commercially Deployed Quantum Networks IonQ Quantum Network Installed at Electric Power Board of Chattanooga 71 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 72: Commercially Deployed Quantum Networks
Commercially Deployed Quantum Networks IonQ Quantum Network Installed at SK Telecom 72 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 76: Application Results Driven by System Capabilities
Application Results Driven by System Capabilities 1 Multimodal Reasoning Applications Real-World Outcomes • Time to solution 2 Software Capabilities • Accuracy of solution Image Change • Compiler & circuit transpilation • Cost to solution • Error detection & mitigation Detection • Control & scheduli
Slide 77: Leading in Accuracy, Speed, Cost, and Energy to solution
Leading in Accuracy, Speed, Cost, and Energy to solution Meaningful fault tolerant application of increasing complexity (2030 estimation) AI Multimodal Reasoning 1 Enables medical diagnostics, sensor fusion, video and text reasoning, sentiment analysis, etc. 40x faster time to solution Image Change
Slide 78: Winning in Today's Mission-Critical Application Benchmarks
Winning in Today’s Mission-Critical Application Benchmarks 78 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 79: Outperforming Peers With Real-World Applications
Outperforming Peers With Real-World Applications IonQ is leading on mission-critical application benchmarks 34.7% 73.9% 181.6% improvement in solution quality compared to improvement in solution quality compared to IBM’s improvement in average score compared to IBM’s current IBM’s current highest pe
Slide 80: Early Applications Massive Opportunities
Early Applications Massive Opportunities Protein Lead Drug synthesis Pharma & folding optimization catalysts Healthcare Logistics center Carrier shipment Vehicle Logistics location selection dispatching Contact center Anomaly More to come… Service AI model detection Industries * Not an exhaustive li
Slide 81: Accelerating Drug Development with AstraZeneca
Accelerating Drug Development through Enhanced Simulations with AstraZeneca 20x Faster time-to-solution than best previously published implementation Business and Technical Challenges Traditional computing struggles to accurately and efficiently model complex transition metal catalysis CPU QPU GPU -
Slide 82: Quantum Hybrid LLM Fine-Tuning Boosts Accuracy and Efficiency
Scaling Efficiently Beyond Classical Quantum AI Case Study Quantum Hybrid LLM Fine-Tuning Boosts Accuracy and Efficiency Business and Technical Challenges: Classical LLMs struggle with sparse, complex, or proprietary data arXiv:2504.08732 IonQ’s Quantum Solution: Average Inference Energy Consumption
Slide 85: Customer and Partner Momentum
07 Customer and Partner Momentum Rima Alameddine Margaret Arakawa Chief Revenue Officer Chief Marketing Officer 85 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 86: From Insight to Impact
From Insight to Impact Two Types of Buyers Go-To-Market Pillars Building Quantum Economies Mission Driven Enabling Governments ROI Driven Creating Commercial Value Scaling Through Partnerships 86 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 87: Quantum is Now.
Quantum is Now. IonQ Driving the Quantum Revolution 1970s - present 1993 - present 2002 - present 2022 - present TODAY TODAY Distributed Internet Cloud AI IonQ Quantum Computers Leveraging 50+ years of tech innovation to solve complex problems with the: Compute in Network to Massive compute Intellig
Slide 88: IonQ Full Stack Quantum Innovation
IonQ Full Stack Quantum Innovation IonQ Applications Development IonQ Quantum Networking Commercial Applications End-to-end Quantum Networks On-Prem or Cloud Access Quantum Internet IonQ Quantum SDKs, APIs, Compilers, Distributed IonQ Hybrid Services IonQ Quantum OS Quantum Computing Software Cross-
Slide 89: Trusted by Top Global Customers and Partners
Trusted by Top Global Customers and Partners Enabling breakthroughs with leading enterprises and organizations Enterprise Ecosystem Partners Government | National Labs | Universities 89 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 94: IonQ Anchors Maryland's $1 Billion Capital of Quantum Initiative
IonQ Anchors Maryland’s $1 Billion Jan “Capital of Quantum” Initiative 2025 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 96: Global Availability of IonQ Forte Enterprise Through Amazon Braket
Global Availability of IonQ Forte Apr Enterprise Through Amazon Braket 2025 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 98: $22M Partnership with EPB for Quantum Hub
$22M Partnership with EPB to create Apr Quantum Computing & Networking Hub in US 2025 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 99: Japan's AIST Signs MOU with IonQ
Japan’s National Institute of Advanced Industrial Science Apr (AIST) Signs MOU with IonQ 2025 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 100: IonQ Partners with Einride on Logistics
IonQ Partners with Sweden’s Einride May on Logistics for Autonomous Driving Solutions 2025 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 102: Primary Quantum Partner for Korea's National Quantum Center
Primary Quantum Partner for Korea’s Jul National Quantum Center of Excellence 2025 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 103: Diamond Materials Breakthrough with Element Six
Diamond Materials Breakthrough with Sep Element Six (DeBeers Group) 2025 IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 105: Strong Adoption and Expanded Opportunity Set Drive Growth
Strong Adoption and Expanded Opportunity Set Drive Growth IonQ has been approximately doubling GAAP revenue year-over-year 1 Growing customer $100.0M adoption $82.0M 175% CAGR1 $43.1M 2 Diversified business (compute, networking, space) $22.0M $11.1M $1.6M 3 Broader opportunity 2021A 2022A 2023A 2024
Slide 106: Unit Economics Secure Our Long-Term Margin Opportunity
Unit Economics Secure Our Long-Term Margin Opportunity Our total cost of ownership and lower BOM costs give us a natural competitive advantage IonQ Is Practical For Datacenter Scale Deployment Cost of Cheapest cost Acquisition per logical qubit Cost to Lowest energy Compute consumption Deployment Le
Slide 107: Our Strong Cash Position Fuels Our Growth Mindset
Our Strong Cash Position Fuels Our Growth Mindset IonQ is well-capitalized to expand our quantum ecosystem Capital Structure 1 Invest in R&D 2 Scale the infrastructure $1.68 Bn 3 Build applications in cash and equivalents 4 Attract talent $0 Maintain flexibility in debt 5 107 IonQ 2025 Analyst Day C
Slide 108: We Are Developing The Quantum Ecosystem
We Are Developing The Quantum Ecosystem Our multi-product strategy creates a flywheel effect Quantum Computing Quantum Networking Quantum Security – Terrestrial and Space • QPUs and quantum hubs • Network Components • Secure communications • Cloud Access • Entanglement Distribution (ground and space
Slide 109: Global Footprint Enables Our Go-To-Market
Global Footprint Enables Our Go-To-Market Oxford, England Pending acquisition of Oxford Ionics signed in June 2025 Boston, MA, USA Acquired Lightsynq in May 2025 Toronto, Canada Acquired Entangled Networks in Jan 2023 Chattanooga, TN, USA Acquired Qubitekk in Dec 2024 Washington DC, USA Acquired Cap
Slide 110: Key Takeaways
Key Takeaways IonQ is the leader in quantum computing and quantum networking delivering value to enterprise and government customers today 1 Secures Regulatory Approval from the UK Investment Security Unit for the Acquisition of Oxford Ionics 2 36 Quadrillion Times Larger Computational Space than IB
Slide 111: Fireside Chat
09 Fireside Chat Niccolo de Masi Martin Roetteler Marco Pistoia Rick Muller Robert Cardillo Chairman & CEO VP of Quantum Solutions Senior VP of Industry VP of Quantum Systems Executive Chairman of Relations IonQ Federal Microsoft JP Morgan | IBM IARPA | Sandia National Labs National Geospatial- inte

IonQ — Investor Day (September 2025) on 6ix

Ionq — Investor Day (September 2025)

Slide 1: 2025 Analyst Day

Slide 2: Cautionary Notes

Slide 3: Today's Agenda

Slide 4: IonQ Quantum Leadership

Slide 5: IonQ's Proven Quantum Leadership: The Last Decade

Slide 6: Historic First-Mover Advantages Cemented Decade of Leadership

Slide 7: Unprecedented Momentum Positions IonQ to Lead the Next Decade

Slide 8: IonQ Secures UK Regulatory Approval for Oxford Ionics Acquisition

Slide 9: The Best Solution Across Every Unit Economic Vector

Slide 10: 36 Quadrillion Times Larger Computational Space

Slide 11: IonQ's Enduring Quantum Leadership: The Next Decade and Beyond

Slide 12: Integrating the World's Best Talent & Technology

Slide 13: Leading Quantum Computing Technology Roadmap

Slide 14: Datacenter Scalability Matters

Slide 15: We Are Delivering Early Quantum Advantage Today

Slide 16: Exponential Edge in Logical Qubits and Fault Tolerance Race

Slide 17: Exponential Edge in Logical Qubits and Fault Tolerance Race

Slide 18: Exponential Edge in Logical Qubits and Fault Tolerance Race

Slide 19: Exponential Edge in Logical Qubits and Fault Tolerance Race

Slide 20: Exponential Edge in Logical Qubits and Fault Tolerance Race

Slide 21: Apps Market Opportunity

Slide 22: Copyright © 2025 IonQ, Inc. All Rights Reserved.

Slide 23: Networking to Create the Global Quantum Internet

Slide 24: Quantum Computing Roadmap

Slide 25: Industry Leading Commercial Product Portfolio

Slide 26: IonQ Full Stack Quantum Innovation

Slide 27: Algorithmic Qubits Explained

Slide 28: 36 Quadrillion Times Larger Computational Space

Slide 29: Evolving and Expanding Quantum Benchmarking Methodology

Slide 30: Delivering the World's Most Powerful Quantum Computers

Slide 31: Lowering Cost-per-Qubit

Slide 32: Two Key Ingredients to Scale Quantum Computers

Slide 33: Better Qubit Performance Unlocks Value Sooner

Slide 34: Better Qubit Performance Unlocks Value Sooner

Slide 35: Two Qubit Gate Fidelity 99.97%

Slide 36: Achieving Record Breaking Two Qubit Gate Fidelity

Slide 37: Electronic Qubit Control: The Winning Secret Sauce

Slide 38: Scaling Quantum the Semiconductor Way

Slide 39: Best-in-Class Economics

Slide 40: Creating An Ecosystem: Photonic Interconnect

Slide 41: Quantum Compute Follows the Path of Cloud Compute

Slide 42: Interconnect Enabling Datacenter Scale

Slide 43: Quantum Memories Increase Interconnect Speed

Slide 44: Lightsynq Quantum Memory

Slide 45: Built for Scalability

Slide 46: Quantum Networking

Slide 47: Today's best classical security technology is still exposed to crippling data breaches

Slide 48: Quantum Computing Progress Creating Risk to Traditional Networking

Slide 49: Quantum Key Distribution Is Today's Solution

Slide 50: Alice Eve Bob

Slide 51: IonQ 2025 Analyst Day Copyright © 2025 IonQ, Inc. All Rights Reserved.

Slide 52: Delivering Quantum Key Distribution Products Today

Slide 53: Commercial Adoption Driving Value Creation

Slide 54: Building the Comprehensive Suite of Networking Products

Slide 55: One-Stop-Shop for Full Quantum Networks

Slide 56: Photon Source

Slide 57: Quantum Frequency Converter

Slide 58: Quantum Detector

Slide 59: Quantum Repeater

Slide 60: Quantum Switch

Slide 61: Distributed Quantum Computing

Slide 62: Quantum Switch

Slide 63: Timing Synchronization

Slide 64: Quantum Switch

Slide 65: Quantum Key Distribution

Slide 66: One-Stop-Shop for Full Quantum Networks

Slide 67: Vision for the Global Quantum Internet

Slide 68: Vision for the Global Quantum Internet

Slide 69: Case Study: Achieving Remote Entanglement Distribution Milestones with AFRL

Slide 70: Case Study: Achieving Remote Entanglement Distribution Milestones with AFRL

Slide 71: Commercially Deployed Quantum Networks

Slide 72: Commercially Deployed Quantum Networks

Slide 73: Q&A Session

Slide 74: Enterprise-Grade Applications

Slide 75: Quantum Applications Making The Right Technology Choices

Slide 76: Application Results Driven by System Capabilities

Slide 77: Leading in Accuracy, Speed, Cost, and Energy to solution

Slide 78: Winning in Today's Mission-Critical Application Benchmarks

Slide 79: Outperforming Peers With Real-World Applications