IonQ, Inc.
IONQ Technology Computer Hardware
IonQ, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $130.0 million, up 201.9% from fiscal 2024. In the quarter to June 2026, revenue grew 286.8%, EPS fell 625.7% and free cash flow fell 110.8%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
Follow IONQ
IonQ, Inc. (IONQ) Piotroski F-score
IonQ, Inc.'s Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2024.
Piotroski F-score, annual
Embed this chart
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | 0.00 |
| FY2024 | 4 | 1.00 |
| FY2023 | 3 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (14.42%) | (62.46%) | Fail | 0 |
| Positive operating cash flow | (283.19m) | (105.68m) | Fail | 0 |
| Rising return on assets | (14.42%) | (62.46%) | Pass | 1 |
| Cash flow above net income | 227.19m | 225.96m | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.00 | Pass | 1 |
| Rising current ratio | 15.50 | 10.50 | Pass | 1 |
| No new shares issued | 280,345,000 | 213,029,000 | Fail | 0 |
| Rising gross margin | 40.40% | 52.18% | Fail | 0 |
| Rising asset turnover | 0.04 | 0.08 | Fail | 0 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| LOGI Logitech International S.A. compare | 8 |
| WDC Western Digital Corporation compare | 8 |
| P Everpure, Inc. compare | 7 |
| HPQ HP Inc. compare | 5 |
| QBTS D-Wave Quantum Inc. compare | 5 |
| IONQ IonQ, Inc. | 4 |
| RGTI Rigetti Computing, Inc. compare | 4 |
| SMCI Super Micro Computer, Inc. compare | 3 |
| QUBT Quantum Computing Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover