IonQ reports record $173.8 million quarterly revenue and a $1.2 billion backlog

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IonQ has posted its biggest quarter yet. Quantum Computing Report says IonQ's third quarter revenue reached $173.83 million, up 336 percent, with $90.3 million from its own platform and $83.5 million from the SkyWater chip foundry it acquired

The company raised its 2026 revenue forecast to between $505 million and $515 million, and its backlog stands at $1.2 billion. Its operating loss widened to $433 million, while a reported net profit came mostly from a large one off accounting gain on warrants

IonQ is the only trapped ion company in Stage C of the DARPA Quantum Benchmarking Initiative. Its Superion 256 system is the first on-site quantum processor at Nvidia's Accelerated Quantum Research Center

It also won an award to build optical atomic clocks, SkyWater signed a manufacturing deal with John Martinis's company Qolab, and IonQ completed its acquisition of Elisity. A $2 billion fundraising closed in October

IonQ is growing faster than anyone else in the sector, though much of the revenue comes from manufacturing rather than quantum computing itself. Having its systems inside Nvidia's research centre is a strong vote of confidence. The challenge now is turning all these acquisitions into one coherent business

Is IonQ's acquisition strategy paying off? And does foundry revenue count as quantum success?

IonQ Announces Record Q3 2026 Revenues of $173.8M and Raises FY 2026 Guidance to Over $505M as Backlog Reaches $1.2B - Quantum Computing Reportquantumcomputingreport.com