Slide 1: Q4 2025 Business & Financial Highlights
Q4 2025 Business & Financial Highlights February 25, 2026 Copyright © 2026 IonQ, Inc. All Rights Reserved.
Slide 2: Important Information
Important Information Forward-Looking Statements and Other Information This presentation contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including but not limited to statements regarding our guidance for our financial perfo
Slide 3: Important Information (Cont'd)
Important Information (Cont’d) Important Information and Where to Find It In connection with the acquisition described in this presentation (the “Transaction”), IonQ, Inc. (“IonQ”) intends to file with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4 (the “Regi
Slide 4: Revenue Growth Exceeded Expectations For the Fourth Quarter and Full Year 2025
Revenue Growth Exceeded Expectations For the Fourth Quarter and Full Year 2025 Q4 2025 Revenue FY 2025 Revenue 20% $130.0M BEAT TO THE MIDPOINT OF FY 2025 REVENUE GUIDANCE 202% First public quantum $61.9M company to report 429% $43.1M $100 Million of GAAP Revenue $11.7M Q4 2024 Q4 2025 FY 2024 FY 20
Slide 5: The Only Full-Stack Quantum Platform Company
01 The Only Full-Stack Quantum Platform Company IonQ is differentiated by its integrated, full-stack quantum platform operating in every domain Space Quantum ground & space-to-ground quantum networks Air Positioning, Navigation, and Timing (PNT) for GPS-denied environments Land Quantum-encrypted net
Slide 6: A Leader in Every Product Family
02 A Leader in Every Product Family IonQ is a technical and commercial leader across every part of our platform • Leading roadmap with straightforward path to scaling based on semiconductor engineering • Only company to hit target fidelity (99.99%) Compute • Fastest time-to-solution due to lower err
Slide 7: Leading Computers in Every Metric that Matters
03 Leading Computers in Every Metric that Matters IonQ quantum computers lead the industry in both technical and commercial measures Better foundational technology Best time to solution today & Superior economic scaling Realistic deployments that fit in and qubit performance breakout roadmap for tom
Slide 8: A Merchant Supplier to the U.S., Allies, and Partners
04 A Merchant Supplier to the U.S., Allies, and Partners IonQ is positioned to be the secure trusted partner for the U.S. and allied quantum ecosystem Committed to serving the entire ecosystem as a Supporting U.S., allied, and partner Quantum Merchant Supplier initiatives in the quantum space race 1
Slide 9: Continued Momentum in the Fourth Quarter
05 Continued Momentum in the Fourth Quarter Strengthening our position as the leading independent quantum platform company U NM ATCHED S CALE G LOB AL COM M ERCIAL RE A CH CCRM quantum-biotech First $100 Million ~$3.3B collaboration Annual GAAP Revenue for a Balance Sheet Cash Public Quantum Company
Slide 10: Q4 2025 Financial Highlights
Q4 2025 Financial Highlights 10 IonQ Q4 2025 Update Copyright © 2026 IonQ, Inc. All Rights Reserved.
Slide 11: Q4 2025 and Full-Year Financial Results
Q4 2025 and Full-Year Financial Results Key Drivers Income Statement Q4 2025 FY 2025 New compute ($ in millions, except per share amounts) contract wins Revenue $61.9 $130.0 YoY Growth 429% 202% Platform expansion into Adjusted EBITDA 1 ($67.4) ($186.8) quantum networking, sensing and security Adjus
Slide 12: Revenue Growth Exceeded Expectations For the Fourth Quarter and Full Year 2025
Revenue Growth Exceeded Expectations For the Fourth Quarter and Full Year 2025 Q4 2025 Revenue FY 2025 Revenue 20% $130.0M BEAT TO THE MIDPOINT OF FY 2025 REVENUE GUIDANCE 202% First public quantum $61.9M company to report 429% $43.1M $100 Million of GAAP Revenue $11.7M Q4 2024 Q4 2025 FY 2024 FY 20
Slide 13: We Expect to Maintain High Growth as Our Revenue Scale Increases
We Expect to Maintain High Growth as Our Revenue Scale Increases Quantum Computing Leadership Full-Stack Quantum Platform $245M Revenue $225M Guidance $225M - $245M Range FY 2026 revenue guidance 138% CAGR1 $130.0M Growth to be driven by strong backlog and targeted pipeline opportunity $43.1M $22.0M
Slide 14: Continuous R&D Investment Across our Quantum Platform
Continuous R&D Investment Across our Quantum Platform New products drive R&D was IonQ’s R&D investment fuels customer expansion largest investment product innovation Expanded our business into quantum area in FY 2025 networking, sensing & security 123% YoY increase in R&D spend in 2025 ~300 IonQ emp
Slide 15: Copyright © 2026 IonQ, Inc. All Rights Reserved.
Copyright © 2026 IonQ, Inc. All Rights Reserved.
Slide 16: Reconciliation of GAAP and Non-GAAP Financial Measures
Reconciliation of GAAP and Non-GAAP Financial Measures Three Months Ended Year Ended December 31, December 31, In thousands, except share and per share data 2025 2024 2025 2024 Net income (loss) attributable to IonQ, Inc. $ 753,667 $ (201,998) $ (510,378) $ (331,647) Net income (loss) attributable t