IonQ Inc (NYSE: IONQ) is a quantum computing company that develops and operates trapped-ion quantum computers, selling access to those systems as a cloud service and as on-premises hardware. Revenue comes from quantum-computing-as-a-service (QCaaS) delivered through Amazon Web Services Braket, Microsoft Azure Quantum, and Google Cloud Marketplace, as well as direct cloud access, hardware sales, professional services, and data-as-a-service products including synthetic-aperture radar imaging via satellite. The company also sells quantum networking, quantum sensing, and quantum security products with associated maintenance and support. IonQ has expanded its technology base through acquisitions including Oxford Ionics Limited (September 2025), Lightsynq Technologies Inc. (May 2025), and id Quantique SA, all completed within the fiscal year covered by the 10-K filed February 25, 2026. The company acknowledges dependence on a limited number of customers in certain cases and operates in a rapidly changing competitive environment.

Revenue model

QCaaS subscription and usage-based access via third-party cloud marketplaces and IonQ's own cloud platform; hardware sales of full quantum computing systems (on-premises and cloud-delivered); professional services for algorithm development and quantum application consulting; data-as-a-service from satellite-based synthetic-aperture radar imaging; maintenance and support contracts.

Products and services

Trapped-ion quantum computers (using ytterbium and barium qubits); quantum-computing-as-a-service (QCaaS); quantum networking products; quantum sensing products; quantum security products; full on-premises quantum processing unit (QPU) systems; professional services; synthetic-aperture radar imaging via satellite; quantum positioning, navigation and timing services (in development).

Customers and end markets

Enterprise and research customers accessing quantum compute via AWS Braket, Microsoft Azure Quantum, and Google Cloud Marketplace; select customers via IonQ's own cloud service; end markets include materials science, pharmaceuticals, optimization, cryptography and security, and positioning/navigation; the filing notes dependence on a limited number of customers in certain cases.

Value-chain role

Vertically integrated quantum hardware developer, manufacturer, and cloud service operator; also acts as a platform aggregator distributing capacity through major hyperscaler marketplaces.

Geographic exposure

Headquartered in the United States; cloud distribution through global hyperscaler platforms (AWS, Microsoft Azure, Google Cloud); satellite-based data products offered to customers; international technology acquired through Oxford Ionics Limited (UK) and id Quantique SA; specific revenue breakdown by geography not disclosed in the filing excerpts.

Source: SEC 10-K, filed 2026-02-25

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