| Net Income (Loss) Per Share |
19. NET INCOME (LOSS) PER SHARE The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except share and per share amounts):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Basic net income (loss) per share |
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Numerator: |
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Net income (loss) |
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$ |
563,114 |
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$ |
(1,055,612 |
) |
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$ |
(500,876 |
) |
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$ |
(1,265,394 |
) |
Less: Net income (loss) attributable to
noncontrolling interests |
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(843 |
) |
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(657 |
) |
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(2,451 |
) |
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(1,349 |
) |
Less: Undistributed earnings allocated to
participating securities |
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12,677 |
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— |
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— |
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— |
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Net income (loss) attributable to IonQ,
Inc. common stockholders—basic |
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$ |
551,280 |
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$ |
(1,054,955 |
) |
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$ |
(498,425 |
) |
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$ |
(1,264,045 |
) |
Denominator: |
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Weighted average common shares
outstanding—basic |
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388,585,082 |
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294,524,786 |
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371,798,334 |
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258,324,714 |
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Net income (loss) per share attributable to
IonQ, Inc. common stockholders—basic |
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$ |
1.42 |
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$ |
(3.58 |
) |
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$ |
(1.34 |
) |
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$ |
(4.89 |
) |
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Diluted net income (loss) per share |
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Numerator: |
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Net income (loss) |
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$ |
563,114 |
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$ |
(1,055,612 |
) |
|
$ |
(500,876 |
) |
|
$ |
(1,265,394 |
) |
Less: Net income (loss) attributable to
noncontrolling interests |
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(843 |
) |
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(657 |
) |
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(2,451 |
) |
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(1,349 |
) |
Less: Reallocated undistributed earnings
allocated to participating securities |
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12,035 |
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— |
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— |
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— |
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Less: Gain (loss) on change in fair value of
warrant liabilities |
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12,053 |
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— |
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— |
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— |
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Net income (loss) attributable to IonQ,
Inc. common stockholders—diluted |
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$ |
539,869 |
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$ |
(1,054,955 |
) |
|
$ |
(498,425 |
) |
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$ |
(1,264,045 |
) |
Denominator: |
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Weighted average common shares
outstanding—basic |
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388,585,082 |
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294,524,786 |
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371,798,334 |
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258,324,714 |
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Add: Dilutive impact of potential common
stock |
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12,280,209 |
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— |
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— |
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— |
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Weighted average common shares
outstanding—diluted |
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400,865,291 |
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294,524,786 |
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|
371,798,334 |
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|
258,324,714 |
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Net income (loss) per share attributable to
IonQ, Inc. common stockholders—diluted |
|
$ |
1.35 |
|
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$ |
(3.58 |
) |
|
$ |
(1.34 |
) |
|
$ |
(4.89 |
) |
For the three months ended September 30, 2026, diluted net income per share calculated under the two-class method was more dilutive. The following table is a summary of the weighted average common stock equivalents for the securities outstanding during the respective periods that have been excluded from the computation of diluted net income (loss) per common share. Common stock equivalents contingent upon the satisfaction of certain conditions are included in the following table to the extent the shares would be issuable if the end of the period was the end of the contingency period and based on the actual achievement of performance metrics through the end of the period.
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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|
2026 |
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2025 |
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|
2026 |
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|
2025 |
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Common stock options outstanding |
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— |
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7,967,193 |
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2,744,176 |
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11,972,668 |
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Warrants to purchase common stock |
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79,053,330 |
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35,269,625 |
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80,666,485 |
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13,527,921 |
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Unvested restricted stock units |
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4,465,284 |
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14,123,062 |
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17,973,481 |
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14,542,660 |
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Unvested performance-based restricted stock
units |
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780,856 |
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5,118,952 |
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5,359,744 |
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3,025,625 |
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Unvested restricted stock |
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— |
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4,279,209 |
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8,675,958 |
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1,947,801 |
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Unvested early exercised stock options |
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— |
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74,133 |
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— |
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|
132,290 |
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Total |
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84,299,470 |
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66,832,174 |
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115,419,844 |
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45,148,965 |
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