Quantum computing companies have been some of the hottest stocks in the market in recent years.
IonQ (IONQ +6.75%) is one of a handful of companies looking to commercialize quantum computers, the next iteration of the traditional computer. While computers are built on the foundation of bits, the smallest unit of digital information, quantum computers are built on qubits, which are in a state of superposition and can therefore process data and search for solutions simultaneously, rather than sequentially.
Quantum computing is an industry still in the early stages, but investors have seen enough progress that they want to bet on it early. If companies like IonQ commercialize quantum computers, they could be first movers in a massive new industry with unlimited potential.
Image source: Getty Images.
IonQ has certainly made progress this year. The company has generated more than $68 million in revenue through the first three quarters of 2025 and is guiding for as much as $110 million on the year. That’s solid growth, and not every quantum company can say that.
IonQ also set a world record for 2-qubit gate performance, a measure of accuracy and speed for quantum systems. The company achieved a 99.99% 2-qubit gate fidelity rate on one of its systems. That means the system can reach solutions faster, has fewer errors per operation, and requires less energy than its competitors.
Here’s where IonQ is likely to be in a year.
Improving quantum systems and increasing revenue
According to an investor presentation, IonQ is focused on rolling out a 256-qubit system in 2026. The Tempo quantum computing system, which the company introduced last year, had 100 qubits. While the number of qubits isn’t everything, the more that run effectively in a gate-based model, the more powerful the system becomes. IonQ’s goal between 2027 and 2030 is to build systems with anywhere from 10,000 to 2 million qubits.
Today’s Change
(6.75%) $3.21
Current Price
$50.77
Key Data Points
Market Cap
$18B
Day’s Range
$47.53 – $51.89
52wk Range
$17.88 – $84.64
Volume
1.3M
Avg Vol
22M
Gross Margin
-747.41%
IonQ is also looking to sell more of its current systems and ramp up efforts for commercialization. At the end of December, the company announced a strategic partnership with the Korea Institute of Science and Technology that will ultimately see the company deliver its Tempo 100-qubit system to the organization.
Wall Street analysts, on average, also believe IonQ will be able to significantly increase revenue to $189 million in 2026, according to data from Visible Alpha. Ultimately, I think the company will continue to make progress on its quantum systems and continue to increase revenue, although I still think we are far from commercialization.
Investors should proceed cautiously with the stock, given that the company already trades at a market cap of over $17 billion. I’d keep positions smaller and more speculative at this point.
