Why this name is on the tape
IonQ, Inc. (NYSE: IONQ) is a College Park, Maryland trapped-ion quantum company. The live product in 2026 is Tempo systems plus cloud access, with a networking/sensing layer (Skyloom terminals) in the mix. Headlines still say “quantum supremacy” or jump to a million qubits. Those are not the Q2 income statement.
The MarketNeon quantum basket also holds Rigetti (RGTI), D-Wave (QBTS), Quantum Computing Inc. (QUBT), plus Honeywell and IBM as incumbents with quantum research. This article charts IONQ because it printed the largest of the pure-play quarters. Listing the others is context. It is not a ranking of the names and not a trade instruction.
What IonQ has actually printed
For the quarter ended 30 June 2026 IonQ reported record GAAP revenue of $80.1 million, up 287% year over year. Management said organic revenue grew 132%, driven by Tempo deployments and cloud utilization. Mix: about 50% international, 60% commercial, 25% multi-product. Adjusted EBITDA was a $120.3 million loss ($95.6 million excluding SkyWater-related spend that sat in the quarter before the deal closed). Remaining performance obligations were $485 million, up from $122 million a year earlier.
Full-year 2026 revenue was raised to $280–$290 million, still described as about 100% organic growth, and still excluding SkyWater. SkyWater closed around the print; Q2 results and that guide are IonQ-only. Combined-company guidance had not been given.
What shipped versus what is a qubit roadmap
Tempo is this year’s machine. Management said Tempo computing revenue is the principal 2026 driver, and that next year the main driver is meant to be semiconductor-based, electronically controlled traps — Oxford Ionics plus SkyWater — rather than bulk optics and lasers. A 256-qubit chip was described as taped out / nearly finalized as a prototype; 10,000- and higher-qubit generations were described as parallel work. Prototypes and a roadmap are not Q2’s $80.1 million.
Networking: the company said 84 Skyloom optical communication terminals were deployed on orbit, double a year earlier. Terminals on orbit are a product count. They are not a quantum computer.
The other tape names, without ranking them
Same-quarter prints on the other pure-plays are a different scale. They are listed here so a “quantum” headline is not treated as one book.
- IONQ (IonQ) — $80.1 million in Q2. Tempo systems and cloud. $485 million of remaining performance obligations. 256-qubit / electronic-control machines are next-year roadmap.
- RGTI (Rigetti) — $5.1 million in Q2. Superconducting on-premises systems (Cepheus 36- to 108-qubit; Novera 9-qubit QPU). Operating loss $28.1 million. Cash and investments $541.3 million. An HPE / Pittsburgh Supercomputing Center collaboration is a development seat, not that quarter’s systems shipped.
- QBTS (D-Wave) — $3.1 million in Q2, flat with a year earlier. First-half 2026 was $5.9 million versus $18.1 million a year earlier, when D-Wave recognized $13.7 million from its first annealing-system sale. Q2 system sales were $0.3 million; most of the quarter was QCaaS and professional services. Annealing is not the same product as IonQ’s trapped-ion gate machines.
- QUBT (Quantum Computing Inc.) — $5.6 million in Q2, up from a negligible year-ago print. Photonic / quantum-optics hardware and software. Not a trapped-ion peer and not D-Wave’s annealer.
- HON (Honeywell) and IBM — incumbents with quantum research and, in IBM’s case, a cloud quantum fleet. They are not IONQ. A quantum headline on either name is a slice of a much larger company.
What this does not tell you
An $80.1 million quarter is evidence that Tempo systems and cloud seats can print. It is not proof that full-year revenue reaches $280–$290 million, that remaining performance obligations become 2026 cash, that SkyWater adds to that guide, or that a 256-qubit electronically controlled machine ships next year. RGTI, QBTS, and QUBT printed $5.1 million, $3.1 million, and $5.6 million. Those are separate books. None of this is a ranking.
On MarketNeon, IONQ is a ticker like any other: price, volume, crowd mentions, and headlines can run hot on a qubit-count clip while the billed line is this year’s Tempo box. This article is context for those prints. It does not rank the names, and it does not tell anyone to buy or sell.