IonQ stock was trading near $44 during Tuesday’s investor day session before pulling back. The company came into the day worth about $15.7 billion.
IonQ raised its full-year 2026 revenue guidance to between $450 million and $460 million. That is up from $280 million to $290 million guided in early August, a jump of roughly 60%.
The raise is the third time IonQ has lifted its outlook this year. The first two were driven by the quantum business outperforming its own forecasts. This one is different.
The updated guidance reflects the inclusion of SkyWater Technology for the first time, following the close of IonQ’s $1.8 billion acquisition on July 31. SkyWater generated $317.1 million in revenue over the first half of its fiscal 2026, more than double the prior year.
At that pace, SkyWater’s five-month contribution could run well above the $170 million midpoint-to-midpoint increase in guidance. The quantum platform itself received no new guidance update.
IonQ used the investor day to unveil Superion 256, its sixth-generation quantum computing system. The processors are fabricated directly at the SkyWater facility. Customer shipments are expected in 2027.
Rosenblatt analyst John McPeake attended the event and said IonQ appears to be “deep into the productization part of the development cycle.” StoneX analyst Gary Mobley had predicted the SkyWater deal could accelerate IonQ’s road map for a 200,000-qubit system by roughly a year.
IonQ also announced an $8.18 million security agreement with enterprise data management firm Congruity360. The company called it “one of the largest commercial quantum-security agreements in the United States to date.”
Strip out SkyWater at its $1.8 billion purchase price, and roughly $15 billion of IonQ’s market value still rests on the quantum platform’s $285 million in guided sales. That puts the core quantum business at about 53 times guided sales, up from about 49 times before the announcement.
IonQ remains deeply unprofitable. Its second-quarter non-GAAP EBITDA loss hit $120.3 million, versus a $36.5 million loss a year earlier. That loss was larger than the quarter’s total revenue.
CEO Niccolo de Masi addressed IonQ’s absence from the Commerce Department’s $100 million funding round for quantum peers Rigetti Computing, D-Wave Quantum, and Quantinuum. He attributed it to regulations restricting equity issuance while the SkyWater merger was pending approval.
De Masi said IonQ maintains a dedicated federal division and ongoing agency contracts, adding: “As we are in more vectors of growth, there are more ways for us to partner with this nation’s government and with enterprise customers.”
IonQ’s second-quarter revenue reached $80.1 million, up 287% year over year.
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