Slide 1: IonQ Investor Updates
IonQ Investor Updates March 2025 1 IonQ Investor Updates © 2025 IONQ
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: Our Goal: Build the World's Best Quantum Computers
Our Goal: Build the World’s Best Quantum Computers to Solve the World’s Most Complex and Impactful Problems. 3 IonQ Investor Updates © 2025 IONQ
Slide 4: The Quantum Revolution is Here, with IonQ Leading in Technology
The Quantum Revolution is Here, with IonQ Leading the Pack in Technology 36 #AQ Q# QDK PENNYLANE Met 2024 Technical Algorithmic Qubits on Exceedingly Low Error Every Major Scaling Goal Industry Leading Correction Overhead Quantum Language 12 Months Early IonQ Forte1 & SDK Supported Data Center Ready
Slide 5: The Quantum Revolution is Here, with IonQ Leading in Commercialization
The Quantum Revolution is Here, with IonQ Leading the Pack in Commercialization $87B $364M TAM By 2035 1 Cash Balance 2 Premier Partners Large & Growing Quantum Computing & Capitalized to & Customers Market Opportunity Networking Strategy Execute & Deliver 900+ $75-$95M Patent portfolio 3 Expected F
Slide 6: Led by Distinguished Industry Veterans
Led by Distinguished Industry Veterans Niccolo de Masi Peter Chapman Thomas Kramer President & CEO Executive Chair Chief Financial Officer Rima Alameddine Margaret Arakawa Stacey Giamalis Chief Revenue Officer Chief Marketing Officer Chief Legal Officer Tom Jones Ariel Braunstein Dean Kassmann Chief
Slide 7: The Quantum Revolution is Here
The Quantum Revolution is Here 7 IonQ Investor Updates © 2025 IONQ
Slide 8: Quantum Computers will unlock commercial applications beyond classical limits
Optimal Routing Complex Financial Modeling Chemical Modeling Quantum Computers will unlock Behavioral Inference Manufacturing Optimization Load Optimization commercial applications beyond the limits of classical computers. Artificial Intelligence In-silico Drug Discovery Complex Logistics Quantum Ne
Slide 9: Quantum Computing & Networking Expected to Create Up to $880B by 2040
Quantum Computing & Networking Expected to Create Up to $880B in Economic Value by 2040 Represents $170B market for hardware and software providers by 2040 Machine Learning Optimization Simulation Cryptography Communication Pharma: Drug Discovery Automotive: AV AI Algorithms Logistics: Network Optim
Slide 10: IonQ Leading the Quantum Space Race
IonQ Leading the Quantum Space Race 10 IonQ Investor Updates © 2025 IONQ
Slide 11: IonQ's Trapped Ion Architecture is the Winning Qubit Modality
IonQ’s Trapped Ion Architecture is the Winning Actual Photo of 64 Barium Ion Chain IonQ Barium R&D System Qubit Modality Q2 2024 ~100x Zoom • Identical and naturally quantum • Long coherence and qubit lifetime • 99.9% 2QG native fidelity • Universal gates • Reconfigurable and highly connected • Modu
Slide 12: Large & Growing Intellectual Property Portfolio
Large & Growing Intellectual Property Portfolio IonQ will control over 900 total issued and pending patents across quantum compute, quantum networking and other quantum technologies1 Granted 176 229 116 Pending 341 69 2 Total to be Controlled 933 1. Includes patents issued and pending from IDQ. IonQ
Slide 13: Accelerating GAAP Revenue For Over Three Years
Accelerating GAAP Revenue For Over Three Years IonQ has been nearly doubling GAAP Revenue since going public in 2021 $95.0M $75.0M $43.1M $22.0M $11.1M $1.6M 2021A 2022A 2023A 2024A 2025E YoY Growth % n/a 594% 98% 96% 97% 1. CAGR represented based on 2025 midpoint of revenue guidance range at $85.0M
Slide 14: Industry Leading Commercial Product Portfolio
Industry Leading Commercial Product Portfolio Selling Planned Harmony Aria Forte Forte Enterprise Tempo Future Systems A Pioneering Widely Accessible, Commercially Available, Hybrid Enabled, Commercial Broad Commercial Quantum Computer High Performance Higher Performing Data Center-Ready Advantage C
Slide 15: IonQ Systems Optimize for Application Performance
IonQ Systems Optimize for Application Performance IonQ focuses on outperforming peers on algorithms used in customers’ applications Heron r2 (Fez) Note: QED-C latest data available. IBM data adapted from Application-Oriented Performance Benchmarks for Quantum Computing (2022) and 3rd party testing.
Slide 16: IonQ's Path to Commercial Advantage
IonQ’s Path to Commercial Advantage 16 IonQ Investor Updates © 2025 IONQ
Slide 17: Commercial Advantage Pillars
Commercial Advantage Pillars Performance Scale Enterprise-Grade High Qubit Quality High Connectivity Deployability & Availability • Naturally Identical • Compiler Optimization • Durability • Excellent Prep and Readout • Low Resource Overhead • Data Center Form Factor • Long Coherence Time • All-to-A
Slide 18: Performance: Practical Time to Solution
Performance: Practical Time to Solution IonQ’s multi-core architecture produces a faster compute time to solution than competing trapped ion architectures IonQ’s Trapped Ion Multi-Core Architecture Competing Trapped Ion Architecture Fidelity Limit Fidelity Limit Low High Low High Speed to Solution S
Slide 19: Performance: High Native Gate Fidelity
Performance: High Native Gate Fidelity Native Qubit Gate Fidelity (DRB) Logical Qubit Gate Fidelity 100.0% 99.999% 99.9999% 99.5% >99.9% >99.95% 99.9% 99.6% 99.0% 2QG Fidelity 99.3% 99.0% 98.5% 98.0% 97.7% 97.5% 2020 2021 2022 2023 2024 2025 2026+ Expected Expected 19 IonQ Investor Updates © 2025 IO
Slide 20: Performance: Architecture Advantage in Connectivity and Flexibility
Performance: Architecture Advantage in Connectivity and Flexibility IonQ Advantage Superconducting Competitors • All-to-all connectivity • Nearest-neighbor connectivity • Two qubit gates fidelity • Multiple swap gates required 20 IonQ Investor Updates © 2025 IONQ
Slide 21: Performance: IonQ's Exceedingly Low Error Correction Overhead
Performance: IonQ’s Exceedingly Low Error Correction Overhead Other Approaches NEW: Partial Error Correction Error Correction Error Correction 3:11 16:1 2 1000:1 - 1,000,000:13 Partial Error Correction Advantages: • Significantly lower qubit overhead ratio • More scalable than error mitigation techn
Slide 22: Scale: Path to a Scalable, Modular Architecture
Scale: Path to a Scalable, Modular Architecture Stage 3: 1000+ Qubits • Multi-Core Technology • Photonic Interconnect • Quantum Network Stage 2: 400 Qubits • Multi-Core Technology • Photonic Interconnect Stage 1: 200 Qubits • Multi-Core Technology 22 IonQ Investor Updates © 2025 IONQ
Slide 23: Scale: Miniaturized Vacuum Packages for Increased Scale
Scale: Miniaturized Vacuum Packages for Increased Scale Developing compact room temperature trap packages enables more modularity for scaling next generation systems • Approaching a vacuum similar to the pressure achieved at CERN, without cryostats • Reducing size, weight, and power consumption of s
Slide 24: Enterprise Grade: Expanding Footprint
Enterprise Grade: Expanding Footprint Only known dedicated Quantum Computing manufacturing facility focused on system manufacturing at scale College Park, MD Vista, CA IonQ Headquarters Acquired Qubitekk 2015 December 2024 Basel, Switzerland Chattanooga, TN Started Partnership Acquired Qubitekk June
Slide 25: Enterprise Grade: Deployable for Modern Data Centers
Enterprise Grade: Deployable for Modern Data Centers Delivering a customer-ready fully packaged quantum computing solution IonQ Forte Hosted in College Park Deployable Rack-mounted, data center friendly “plug and play” quantum computers Interoperable Seamless integrations with hybrid compute, cross-
Slide 26: Enterprise Grade: Applications for Commercial Advantage
Enterprise Grade: Applications for Commercial Advantage Optimization Optimization Drug Discovery Data Analysis Simulation Example: Example: Example: Example: Example: Supply Chain Energy Infrastructure Pharma Drug Fraud & Anomaly Detection Engineering Optimization Improvements Discovery Modelling in
Slide 27: Enterprise Grade: Quantum Enabled Portfolio Optimization
Enterprise Grade: Quantum Enabled Portfolio Optimization Enabling portfolio creation of more accurate predictive models using fewer iterations Target Distribution Classical Computer IonQ Quantum Computer IonQ Quantum Computer Generative Adversarial Network Generative Adversarial Network Circuit Born
Slide 28: Enterprise Grade: Quantum Commercial Advantage Is Near and Impactful
Enterprise Grade: Quantum Commercial Advantage Is Near and Impactful Quantum Classical Crossover Point Millenia Estimated Classical Centuries Estimated Quantum Wall – Cannot Simulate anymore Years Wall Clock Time Months Days Example: Chemical simulation of a molecule with 50 orbitals (~100 qubits) w
Slide 29: Building the Quantum Internet with Quantum Networking
Building the Quantum Internet with Quantum Networking 29 IonQ Investor Updates © 2025 IONQ
Slide 30: Quantum Networking: Building Quantum Networks for Secure Communications
Quantum Networking: Building Quantum Networks for Secure Communications Classical Network DEMUX Transducer Repeater Quantum Network MUX Entanglement Sources/Detectors Transducer Transducer Repeater Communication channel (Telecomm optical links) Switch Quantum Compute Quantum Compute Node 1 Node 2 *
Slide 31: Quantum Networking: Quantum Computing Scales Exponentially with Networking
Quantum Networking: Quantum Computing Scales Exponentially with Networking IonQ Tempo Photonically Interconnected Systems (64 qubit machine in 2025) Quantum Networking Quantum Computing 31 IonQ Investor Updates © 2025 IONQ
Slide 32: Quantum Networking: IDQ Brings Data Center Ready Product Suite
Quantum Networking: IDQ Brings Data Center Ready Product Suite Clavis XG ID Qube ULN Random Number Generation Selected Customers: Note: IonQ has entered into a definitive agreement to purchase a majority stake of IDQ but the transaction has not closed as of February 2025. 32 IonQ Investor Updates ©
Slide 33: Quantum Networking: Qubitekk's Bohr IV For QKD
Quantum Networking: Qubitekk’s Bohr IV For Quantum Key Distribution (QKD) The Bohr IV quantum network includes: • Entangled photon sources • Superconducting nanowire detectors • Quantum-compatible fiber optic switches • Precision correlated timing hardware EPB Quantum Network℠ powered by Qubitekk A
Slide 34: IonQ Signs Definitive Agreement to Acquire Majority Stake of ID Quantique
IonQ Signs Definitive Agreement to Acquire a Majority Stake of ID Quantique Transaction will significantly expand IonQ’s global quantum networking presence acquiring control of 298 issued and pending patents as well as ID Quantique’s commercial operations, customer base, leadership team, and employe
Slide 35: IonQ Completes Acquisition of the Operating Assets of Qubitekk
IonQ Completes Acquisition of the Operating Assets of Qubitekk Transaction significantly expands IonQ’s quantum networking capabilities bringing Qubitekk’s commercial operations, customer base, executive team and employees to IonQ. Acquisition includes 118 granted and pending quantum networking pate
Slide 36: Recent Announcements
Recent Announcements 36 IonQ Investor Updates © 2025 IONQ
Slide 37: IonQ Enters Into Strategic Partnership with SK Telecom
IonQ Enters Into Strategic Partnership with SK Telecom Partnership will allow SK Telecom to become a customer and key distributor for IonQ in the growing South Korean quantum market. SK Telecom plans to integrate IonQ’s quantum computing technology with its own AI capabilities, including its Persona
Slide 38: IonQ Announces Expanded Commercial Partnership with GDIT
IonQ Announces an Expanded Commercial Partnership with GDIT, a division of General Dynamics Partnership aims to create quantum solutions that enhance fraud and anomaly detection by identifying irregularities in large datasets with greater speed and accuracy. 38 IonQ Investor Updates © 2025 IONQ
Slide 39: IonQ Announces $21.1M Project with US Air Force Research Lab
IonQ Announces $21.1M Project with United States Air Force Research Lab to Push Boundaries on Secure Quantum Networking Project consists of developing a quantum network, delivering compatibility to existing telecommunication infrastructure, and exploring free-space optical links from ground stations
Slide 40: Maryland, University of Maryland Announce $1 Billion Capital of Quantum Initiative
State of Maryland, University of Maryland Announce $1 Billion “Capital of Quantum” Initiative Governor Wes Moore announced the “Capital of Quantum” initiative that is proposed to catalyze more than $1 billion in investments towards the state of Maryland, with IonQ as the anchor of a state-of the-art
Slide 41: IonQ Announces Delivery of Forte Enterprise to QuantumBasel
IonQ Announces Delivery of Forte Enterprise to QuantumBasel EUROPEAN INNOVATION CENTER DEPLOYMENT COMPLETED ON SCHEDULE AT #AQ 36 41 IonQ Investor Updates © 2025 IONQ
Slide 42: IonQ to Advance Hybrid Computing with Chemistry Application and NVIDIA CUDA-Q
IonQ to Advance Hybrid Computing with New Chemistry Application and NVIDIA CUDA-Q Showcased via a joint presentation at SC24, the application demonstrates the seamless integration of the core workflow behind several hybrid quantum-classical approaches to calculate the specific properties of a molecu
Slide 43: IonQ Investor Updates © 2025 IONQ
43 IonQ Investor Updates © 2025 IONQ