Ionq, Inc. · NYSE:IONQ

Ionq — Q2 2025 Earnings Presentation

43 slides from Ionq's earnings presentation, Aug 6, 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: Table of Contents
Table of Contents 01 Market Opportunity 02 Leading the Quantum Industry 03 Technology Path to Commercial Advantage 04 Enterprise-Grade Applications & Ecosystem 05 Building the Quantum Internet 3 IonQ Investor Updates Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 4: Our Goal: To Lead the Quantum Revolution Technologically and Commercially
Our Goal: To Lead the Quantum Revolution Technologically and Commercially 4 IonQ Investor Updates Copyright © 2025 IonQ, Inc. All Rights Reserved.
Slide 6: Quantum Computing and Networking Expected to Create Up to $880B in Economic Value by 2040
Quantum Computing and Networking Expected to Create Up to $880B in Economic Value by 2040 Machine Learning Optimization Simulation Cryptography Communication Pharma: Drug Discovery Automotive: AV AI Algorithms Logistics: Network Optimization $40B-$80B $1B-$10B $50B-$100B Government: Encryption, Aero
Slide 7: IonQ Leads the Pack in Quantum Technology
IonQ Leads the Pack in Quantum Technology The LEADER in Rapidly Expanding Built for Today’s Roadmap: 2M Qubits/ Quantum Computing Global Footprint across Modern Data Centers 80K Logical Qubits and Quantum 5 Countries by 2030 Networking Trapped Ion Exceedingly Low 13:1 Every Major Cloud and 100-Qubit
Slide 8: IonQ Leads the Pack in Commercialization
IonQ Leads the Pack in Commercialization $87B $1.6B TAMs By 20351 Cash, Cash Equivalents, and Investments Balance2 Hundreds of Premier Global Large and Growing Only Quantum Hardware Capitalized to Partners & Customers Market Opportunity Available on All Major Clouds Execute and Deliver 1,000+ $82M-$
Slide 9: Expanding Global Footprint
Expanding Global Footprint The world’s greatest quantum talent works at IonQ 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 2
Slide 10: Led by Distinguished Industry Veterans
Led by Distinguished Industry Veterans Niccolo de Masi Thomas Kramer Jordan Shapiro Chairman & CEO Chief Financial Officer President & GM, Networking dMY Technology Group | Glu | Siemens Oracle | Cvent | BCG | Accenture NEA | Samsung Genius Sports | Resideo | Planet Margaret Arakawa Rima Alameddine
Slide 11: Integrating World-Class Talent & Technology
Integrating World-Class Talent & Technology Computing Acquisitions Technology Acceleration Scientific Leadership Dr. Chris Ballance CEO, Oxford Ionics Oxford Ionics technology ● Intention to be acquired * provides more qubits per by IonQ June 2025 (2019 - 2025) QPU at lower cost, without ● Fellow, U
Slide 15: Accelerating GAAP Revenue
Accelerating GAAP Revenue IonQ has been approximately doubling GAAP Revenue YoY since joining NYSE $100.0M 175% $82.0M CAGR1 $43.1M $22.0M $1.6M $11.1M 2021A 2022A 2023A 2024A 2025E N/A 594% 98% 96% 111% YoY Growth% 1. CAGR represented based on 2025 midpoint revenue guidance range at $91.0 million R
Slide 16: Large and Growing Intellectual Property Portfolio
Large and Growing Intellectual Property Portfolio Granted Pending 214 339 229 69 Total IonQ 116 2 1,060* 10 18 4 59 *Includes owned or controlled patents granted and pending as of May 2025, including those from IDQ (in which IonQ owns a majority stake), and Oxford Ionics (which IonQ intends to acqui
Slide 17: Leading Quantum Computing Technology Roadmap
Leading Quantum Computing Technology Roadmap 2025 2026 2027 2028 2029 2030 Qubits 64-100+ 100-256+ 10,000 20,000 200,000 2,000,000 Logical Qubits 12 800 1,600 8,000 80,000 Logical Error Rates <1.00E-7 <1.00E-12 Integration of Oxford Ionics trap technologies 17 IonQ Investor Updates Copyright © 2025
Slide 18: Real Qubits, Real Results
Real Qubits, Real Results Numbers and track record demonstrate IonQ’s leading position in the Quantum race Other Compute Superconducting Annealing Modalities Price BOM Cost Est. at Full Fault Tolerance <$50M per Machine >$1B per Machine N/A (No Fault Tolerance) >$1B per Machine Performance Fidelity
Slide 19: Delivering the Most Powerful Quantum Computers in the World
Delivering the Most Powerful Quantum Computers in the World 2025 2026 2027 2028 2029 2030 Physical Qubits IonQ 64-100+ 100-256+ 10,000 20,000 200,000 2,000,000 IBM 133 360 1080 1080 n/a n/a Rigetti 36 100 n/a n/a n/a n/a Quantinuum 96 n/a 192 n/a 1,000+ n/a Logical Qubits IonQ 12 800 1,600 8,000 80,
Slide 21: Trapped Ion Architecture
Performance Trapped Ion Architecture IonQ Advantage All-to-all connectivity1 Two-qubit gate fidelity Trapped Ion Superconducting Fidelity ▲ 99.99%+ ▼ Varies ▼ Nearest neighbor (requires Connectivity ▲ All-to-all1 more 2Q Gate operations) ▲ 3:1 partial error correction2 Error Correction ▼ 100:1 error
Slide 22: Electronic Qubit Control: Scaling, Fidelity, Speed, and Precision
Electronic Qubit Control: Scaling, Fidelity, Speed, and Precision Control Microwaves and electric fields enable precise, localized qubit control for maximum accuracy Speed On-chip control and parallel ops boost efficiency and reduce time-to-solution Fidelity Strong on-chip isolation enables longer c
Slide 23: IonQ and Oxford Ionics Roadmap Increases Qubit Density on Chip
Scale IonQ and Oxford Ionics Roadmap Increases Qubit Density on Chip 8-qubit 256-qubit 10,000-qubit unit cell quantum computer quantum computer Acquisition of Oxford Ionics creates a path for scaling qubit count through manufacturing on standard silicon chips 23 IonQ Investor Updates Copyright © 202
Slide 24: Photonic Interconnects Drive Modular Scaling
Scale Photonic Interconnects Drive Modular Scaling Data center-friendly Optical IonQ Quantum Detectors/ scaling architecture Switch Fabric Memory Layer Processing Layer leveraging mature optical fiber link technology IonQ Ion Traps 24 IonQ Investor Updates Copyright © 2025 IonQ, Inc. All Rights Rese
Slide 25: Quantum Memory Enhanced Photonic Interconnects
Scale Quantum Memory Enhanced Photonic Interconnects Previous best-in-class: No quantum memory QPU A Detection ● Simultaneous photon arrival required for connection Hub ● Photon loss causes retries, reducing network speed QPU B IonQ Lightsynq approach: Memory-enhanced interconnects Buffer ● No sync
Slide 27: Leading Sustainability and Environment Innovation
Leading Sustainability and Environment Innovation Innovative Use Cases Positively Impacting Climate Initiatives Battery Material Simulation Power Grid Balancing and Optimization Electric Transport Logistics Optimization Photovoltaic Modeling and Design Gas Leak Detection Via Satellite Carbon Sequest
Slide 28: Applications for Commercial Advantage
Applications for Commercial Advantage Optimization Drug Discovery Simulation Data Analysis Optimization Energy Grid Distribution Pharma Drug Engineering Fraud & Anomaly Detection Supply Chain Improvements Discovery Modeling Simulation Modeling in Large Datasets Optimization • Developing novel hybrid
Slide 29: Quantum-Accelerated Graph Partitioning for Finite Element Simulation with Ansys
Quantum-Accelerated Graph Partitioning for Finite Element Simulation with Ansys Up to 12% Improvement over 2.6M vertices 40M edges Business and Technical Challenges classical heuristics LS-DYNA crash simulations are slowed by costly graph partitioning on massive FEM meshes IonQ’s Quantum Solution QI
Slide 30: Accelerating Drug Development through Enhanced Simulations with AstraZeneca
Accelerating Drug Development through Enhanced Simulations with AstraZeneca 20x Faster time-to-solution than Business and Technical Challenges best previously published Traditional computing struggles to accurately and efficiently implementation model complex transition metal catalysis IonQ’s Quantu
Slide 31: Accelerating Value: Expanding the Quantum Application Opportunity
Accelerating Value: Expanding the Quantum Application Opportunity Broad Commercial Advantage 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 Discove
Slide 32: Leading the Pack: Unlocking Broad Commercial Advantage
Leading the Pack: Unlocking Broad Commercial Advantage Logical Qubits Quantinuum IonQ IBM Applications Unlocked 800 Satellite change detection Small-scale drug affinity Broad Com m ercial Advantage Fantasy sports picking 600 100 to 800 Logical Qubits Multi-agent assignment Augmented health data CFD
Slide 33: 800 to 1600 Logical Qubits
Exponential Edge: Rapid Qubit Scaling Unlocks More Complex Applications Logical Qubits Quantinuum IonQ IBM Applications Unlocked 1600 Fert catalyst redesign 800 to 1600 Logical Qubits Clinical toxicity prediction 1400 AI robotic navigation Finite element vibrations 1200 Portfolio rebalancing 1000 Br
Slide 34: 1600 to 8000 Logical Qubits
Dominating the Quantum Frontier: Targeting Mission-Critical Applications Logical Qubits Quantinuum IonQ IBM Applications Unlocked 8000 Brain imaging (HTS) Shor’s algo - blockchain 1600 to 8000 Logical Qubits Shor’s algo - RSA Zeolite oil refining 6000 Hydrogen fuel cells Broad Com m ercial Advantage
Slide 35: 100 to 80000+ Logical Qubits
The Platform of Record: Powering the World with Quantum Applications Unlocked Modern electrical grid Brain imaging (HTS) Logical Qubits Quantinuum Shor’s algo - blockchain IonQ IBM Shor’s algo - RSA Zeolite oil refining 80000 Hydrogen fuel cells Carbon capture - Ru cycle Alzheimer’s diagnostics 100
Slide 37: The Quantum Internet: A New Paradigm for Security and Computation
The Quantum Internet: A New Paradigm for Security and Computation The intersection of best-in-class secure communication and scalable quantum power The Quantum Internet Ultra-Secure Ultra-Secure Networked Communications Computation Compute Entanglement Distribution and QKD Blind Quantum Computing Mo
Slide 38: Quantum Networking Solutions for Post Quantum Cryptography
Quantum Networking Solutions for Post Quantum Cryptography Problem: The RSA Vulnerability Shor’s algorithm and For decades RSA public key Implementation flaws such as Threats of data harvest now, exponentially powerful cryptography has been the poor random number generation, decrypt later is a mater
Slide 39: Leading the Race to Resilience
Leading the Race to Resilience Telecom, banks and institutions spearheading Solution: IonQ’s Quantum Networking the quantum-safe security revolution QKD is easily integrated on top of existing encryption protocols Quantum Entanglement Quantum Security Distribution Componentry Quantum key Enabling se
Slide 40: Enabling Commercial-Scale Quantum Networks
Enabling Commercial-Scale Quantum Networks Entangled photon Superconducting sources nanowire detectors Quantum-compatible Precision correlated fiber optic switches timing hardware EPB Quantum NetworkSM A Commercially Available Quantum Network in Tennessee EPB Quantum Center is the first commercial q
Slide 41: Enabling Long-Distance, Global Quantum Networks
Enabling Long-Distance, Global Quantum Networks Quantum repeaters pave the way for the quantum internet backbone Over 35 km of deployed fiber with a path to hundreds of kilometers between repeaters Over one second storage time Repeaters are a key component of the Quantum Internet future 1 km 41 IonQ
Slide 42: Global Space-based Quantum Internet Capability
Global Space-based Quantum Internet Capability Establishes IonQ as vertically integrated orbital sensor network deployment leader Unlocks rapidly growing secure communications market via QKD and free-space optical quantum transmission Enables direct access to top-secret contracting expertise; IonQ g

IonQ — Q2 2025 Earnings Presentation on 6ix

Ionq — Q2 2025 Earnings Presentation

Slide 1: IonQ Investor Updates

Slide 2: Cautionary Notes

Slide 3: Table of Contents

Slide 4: Our Goal: To Lead the Quantum Revolution Technologically and Commercially

Slide 5: Market Opportunity

Slide 6: Quantum Computing and Networking Expected to Create Up to $880B in Economic Value by 2040

Slide 7: IonQ Leads the Pack in Quantum Technology

Slide 8: IonQ Leads the Pack in Commercialization

Slide 9: Expanding Global Footprint

Slide 10: Led by Distinguished Industry Veterans

Slide 11: Integrating World-Class Talent & Technology

Slide 12: Select Customers

Slide 13: Select Partners

Slide 14: Leading the Quantum Industry

Slide 15: Accelerating GAAP Revenue

Slide 16: Large and Growing Intellectual Property Portfolio

Slide 17: Leading Quantum Computing Technology Roadmap

Slide 18: Real Qubits, Real Results

Slide 19: Delivering the Most Powerful Quantum Computers in the World

Slide 20: Technology Path to Commercial Advantage

Slide 21: Trapped Ion Architecture

Slide 22: Electronic Qubit Control: Scaling, Fidelity, Speed, and Precision

Slide 23: IonQ and Oxford Ionics Roadmap Increases Qubit Density on Chip

Slide 24: Photonic Interconnects Drive Modular Scaling

Slide 25: Quantum Memory Enhanced Photonic Interconnects

Slide 26: Enterprise-Grade Applications & Ecosystem

Slide 27: Leading Sustainability and Environment Innovation

Slide 28: Applications for Commercial Advantage

Slide 29: Quantum-Accelerated Graph Partitioning for Finite Element Simulation with Ansys

Slide 30: Accelerating Drug Development through Enhanced Simulations with AstraZeneca

Slide 31: Accelerating Value: Expanding the Quantum Application Opportunity

Slide 32: Leading the Pack: Unlocking Broad Commercial Advantage

Slide 33: 800 to 1600 Logical Qubits

Slide 34: 1600 to 8000 Logical Qubits

Slide 35: 100 to 80000+ Logical Qubits

Slide 36: Building the Quantum Internet

Slide 37: The Quantum Internet: A New Paradigm for Security and Computation

Slide 38: Quantum Networking Solutions for Post Quantum Cryptography

Slide 39: Leading the Race to Resilience

Slide 40: Enabling Commercial-Scale Quantum Networks

Slide 41: Enabling Long-Distance, Global Quantum Networks

Slide 42: Global Space-based Quantum Internet Capability

Slide 43: Copyright © 2025 IonQ, Inc. All Rights Reserved.