| Schedule of Results of Reportable Segments |
The following tables present the results of the Company’s reportable segments (in thousands):
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Three Months Ended
September 30, |
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2026 |
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2025 |
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IonQ Platform |
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SkyWater Foundry Services |
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Total |
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IonQ Platform |
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SkyWater Foundry Services |
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Total |
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Revenue from external customers |
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$ |
90,315 |
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$ |
83,516 |
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$ |
173,831 |
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$ |
39,866 |
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$ |
— |
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$ |
39,866 |
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Intersegment revenue |
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— |
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16,748 |
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16,748 |
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— |
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— |
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— |
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Total revenue |
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90,315 |
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|
100,264 |
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|
190,579 |
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|
39,866 |
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— |
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39,866 |
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Eliminations: |
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Intersegment revenue elimination |
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(16,748 |
) |
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— |
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Total consolidated revenues |
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173,831 |
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39,866 |
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Operating costs and expenses excluding
stock-based compensation: |
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Cost of revenue |
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49,485 |
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|
72,142 |
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|
121,627 |
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|
17,006 |
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— |
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|
17,006 |
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Research and development |
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|
92,560 |
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|
4,257 |
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|
96,817 |
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|
34,532 |
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— |
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|
34,532 |
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Depreciation and amortization |
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|
53,870 |
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|
73,772 |
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|
127,642 |
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|
24,182 |
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— |
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|
24,182 |
|
Total operating costs and expenses
excluding stock-based compensation |
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|
195,915 |
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|
150,171 |
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|
346,086 |
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|
75,720 |
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— |
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|
75,720 |
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Segment operating income (loss) |
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(105,600 |
) |
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(49,907 |
) |
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(172,255 |
) |
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(35,854 |
) |
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— |
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(35,854 |
) |
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Less: Unallocated items |
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Sales and marketing, excluding
stock-based compensation |
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24,904 |
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|
7,881 |
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General and administrative, excluding
stock-based compensation |
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89,010 |
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|
52,133 |
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Stock-based compensation |
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146,906 |
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|
72,945 |
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(Gain) loss on change in fair value of
warrant liabilities |
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(896,156 |
) |
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881,847 |
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Interest income, net |
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(19,844 |
) |
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(14,437 |
) |
Interest expense |
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|
2,315 |
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— |
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Offering costs associated with warrants |
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— |
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|
22,847 |
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Other (income) expense, net |
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59,198 |
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|
980 |
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Income (loss) before income tax benefit
(expense) |
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$ |
421,412 |
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$ |
(1,060,050 |
) |
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|
Nine Months Ended
September 30, |
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|
2026 |
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|
2025 |
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|
IonQ Platform |
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|
SkyWater Foundry Services |
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Total |
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|
IonQ Platform |
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SkyWater Foundry Services |
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Total |
|
Revenue from external customers |
|
$ |
235,033 |
|
|
$ |
83,516 |
|
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$ |
318,549 |
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|
$ |
68,126 |
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|
$ |
— |
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$ |
68,126 |
|
Intersegment revenue |
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|
— |
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|
16,748 |
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|
16,748 |
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— |
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— |
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— |
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Total revenue |
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235,033 |
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|
|
100,264 |
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|
|
335,297 |
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|
68,126 |
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— |
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|
68,126 |
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Eliminations: |
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Intersegment revenue elimination |
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(16,748 |
) |
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— |
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Total consolidated revenues |
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|
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318,549 |
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68,126 |
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Operating costs and expenses excluding
stock-based compensation: |
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Cost of revenue |
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|
126,737 |
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|
72,142 |
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|
198,879 |
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|
26,770 |
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— |
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|
26,770 |
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Research and development |
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|
262,608 |
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|
4,257 |
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|
266,865 |
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|
|
84,218 |
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— |
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|
84,218 |
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Depreciation and amortization |
|
|
143,086 |
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|
|
73,772 |
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|
216,858 |
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|
41,359 |
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— |
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|
41,359 |
|
Total operating costs and expenses
excluding stock-based compensation |
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|
532,431 |
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|
150,171 |
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|
682,602 |
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|
152,347 |
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— |
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|
152,347 |
|
Segment operating income (loss) |
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(297,398 |
) |
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(49,907 |
) |
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(364,053 |
) |
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|
(84,221 |
) |
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— |
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(84,221 |
) |
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Less: Unallocated items |
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Sales and marketing, excluding
stock-based compensation |
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|
|
|
|
|
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|
56,693 |
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|
|
|
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|
17,440 |
|
General and administrative, excluding
stock-based compensation |
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|
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|
203,811 |
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|
|
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|
98,057 |
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Stock-based compensation |
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|
417,268 |
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|
205,366 |
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(Gain) loss on change in fair value of
warrant liabilities |
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|
|
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|
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(304,669 |
) |
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|
882,930 |
|
Interest income, net |
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|
(80,057 |
) |
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|
|
|
|
|
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(26,469 |
) |
Interest expense |
|
|
|
|
|
|
|
|
2,315 |
|
|
|
|
|
|
|
|
|
— |
|
Offering costs associated with warrants |
|
|
|
|
|
|
|
|
— |
|
|
|
|
|
|
|
|
|
22,847 |
|
Other (income) expense, net |
|
|
|
|
|
|
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(4,387 |
) |
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|
|
|
|
|
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|
697 |
|
Income (loss) before income tax benefit
(expense) |
|
|
|
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$ |
(655,027 |
) |
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$ |
(1,285,089 |
) |
|