IonQ

Q2 FY2026 EarningsQ2 FY26 revenue of $80.1M significantly beat consensus of $66.4M (+20.5% Variance), driven by rapid progress in quantum hardware builds and contributions from recent acquisitions. However, GAAP profitability was severely impacted by a $1.65B non-cash loss on warrant liabilities and a sharp contraction in gross margin to 24.9% vs. the 41.8% expected (-16.9pct Variance). Diluted GAAP EPS of -$5.08 missed the -$0.60 consensus by a wide margin, reflecting aggressive scaling costs and transaction-related expenses.