IONQ Q1 2026 Earnings — Income Statement Breakdown
For its Q1 2026 period (ending 2026-03-31), IONQ reported revenue of $65M, gross profit of $15M (23.8% gross margin), operating income of −$272M, and net income of $805M (1244.2% net margin). The flow of revenue into costs and profit is visualized below.
What changed
IONQ was profitable; revenue grew 754.7% year over year.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | +754.7% | +2594.8% | +1670.5 pp |
| Quarter over quarter | +4.5% | +6.8% | +26.5 pp |
Consensus estimate data is not available for this report.
IONQ Q1 2026 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $65M | 100% |
| Cost of Revenue | −$49M | 76.2% |
| Gross Profit | $15M | 23.8% |
| Research & Development | −$126M | 194.4% |
| Selling, General & Administrative | −$118M | 182.6% |
| Other Operating Expenses | −$43M | 66.7% |
| Operating Income | −$272M | -419.8% |
| Other Income, net | $1.1B | 1654.2% |
| Income Tax Expense | $6M | 9.9% |
| Net Income | $805M | 1244.2% |
Source: original SEC filing (filed 2026-05-06). Accession 0001193125-26-208923. Data normalized by EarningsFyi.