3 Things You Need to Know Before Buying IonQ Stock

IonQ (NYSE: IONQ) is one of the leading quantum computing stocks that's likely at the top of the buy list for many tech investors.

The stock has returned an impressive 137% over the past three years -- compared to the S&P 500 's (SNPINDEX: ^GSPC) 72% gains. But it's been in decline over the past year as investors have fled higher-risk, unprofitable companies in search of fast-growing, profitable companies.

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If you're considering buying IonQ stock right now, here are three things you should know.

1. IonQ has impressive revenue growth, but it comes with a catch

IonQ recently reported its second-quarter 2026 results, with sales rising 287% to $80.1 million. Part of that growth was fueled by a series of acquisitions the company made over the past year or so, with the rest coming from organic growth in quantum revenue.

There's nothing wrong with some revenue increases coming from acquisitions, but if a company relies too heavily on increasing sales through acquisitions, it can be a red flag for investors.

IonQ's management estimates that the company's organic revenue will double for the full calendar year 2026. That will help IonQ's total sales -- including from acquisitions and organic growth -- reach an estimated $455 million this year , a massive 60% increase over the company's previous guidance.

Still, the company recently raised its full-year revenue guidance just after IonQ completed its purchase of SkyWater Technology, a chip foundry business, on July 31. That means that without the purchase, IonQ's revenue growth estimates for the year look a lot less impressive.

2. Spending is increasing, and losses are widening

Another concern for potential investors is that IonQ's spending continues to increase, and its losses are widening rapidly.

IonQ's non-GAAP (adjusted) EBITDA loss was $120.3 million in the second quarter, far higher than its loss of $36.5 million in the year-ago quarter.

The main culprits behind the expanding losses are IonQ's expensive research and development costs and rising sales and general administrative costs. While some spending increases are typical for high-growth companies, the problem is that IonQ's losses are far bigger than its revenue.

IonQ's Q2 sales of $80.1 million didn't come close to offsetting its losses and it's unclear when the company will be able to close the gap.