Slides
Page 1
Copyright © 2025 IonQ, Inc. All Rights Reserved. Q3 2025 Business & Financial Highlights November 5, 2025
Page 2
Copyright © 2025 IonQ, Inc. All Rights Reserved. Forward-Looking Statements and Other Information This presentation contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including but not limited to statements regarding our guidance for our financial performance, our quantum computing roadmap, expected growth in our employee base and R&D spend and our ability to enable increased scale and growth. In some cases, you can identify forward-looking statements because they contain certain words such as “anticipate,” “believe,” “close,” ”confident,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or the negative of these words or other similar terms or expressions. Forward-looking statements are subject to various risks and uncertainties. Accordingly, there are important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Moreover, new ris ks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward -looing statements contained in this presentation. The results, events and circumstances reflected in the forward-looking statements made herein may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements. Given these risks and uncertainties, you are cautioned not to place undue reliance on any forward-looking statements. For additional information on these and other factors that could cause our actual results to di ffer materially from those set forth in the forward-looking statements contained in this presentation, please see our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025 and September 30, 2025 filed with the Securities and Exchange Commission. All information contained herein speaks only as of the date of this presentation, except where otherwise stated. Except as required by law, we undertake no duty to update or revise the information contained herein, publicly or otherwise, including any forward-looking statements. Trademarks The companies depicted in the photographs herein, or in any third-party trademarks, including names, logos and brands, referenced in this presentation, are the property of their respective owners. All references to third-party trademarks are for identification purposes only and nothing herein should be considered to be an endorsement, authorization or approval by any such company. Important Information 2 IonQ Q3 2025 Update
Page 3
Copyright © 2025 IonQ, Inc. All Rights Reserved. 3 Unprecedented Momentum and Scale The Quantum Leader in Every Metric That Matters Historic strategic acquisitions fueling 1,100+ patent portfolio moat First pure-play public quantum business to guide to triple-digit revenue for FY25 Strongest financial position with $3.5Bn in Cash and Investments1 Accelerating innovation with over $200M annual R&D spend and growing Leading demonstrations of commercial advantage with world-renowned customers World-class employees and domain experts 1,100+ and growing 1. At September 30, 2025, pro forma for $1.98 billion of net proceeds from an equity issuance on October 14, 2025 Oak Ridge National Laboratory IonQ Q3 2025 Update
Page 4
Copyright © 2025 IonQ, Inc. All Rights Reserved. 01 Leader In Quantum Computing 4 1. IonQ BOM cost estimates by Kearney; Superconducting data taken from publicly available information using reasonable extrapolation assumptions We have the history and manufacturing motion >$1B BOM Cost Superconducting IonQ's estimated BOM costs are 30X less expensive than competitors and are free of rare earth or bulk Helium-3 <$30M BOM Cost We have superior economics by an order of magnitude Third Party Validated Cost per System (2 million physical qubits) We have the technical leadership 99.99% world record 2 qubit gate fidelity #AQ 64 36 quadrillion times more computational space than IBM’s latest machine We are on our 5th generation machine Proven quantum networking foundation: remote entanglement, frequency conversion and synthetic diamond materials Clear roadmap to 80,000 logical qubits by 2030 IonQ Q3 2025 Update
Page 5
Copyright © 2025 IonQ, Inc. All Rights Reserved. 5 Leveraging precise measurement capabilities for ultra high precision and accuracy Building the global quantum internet for distributed computing and secure communications Most powerful systems for commercial deployment Quantum Sensing Quantum Networking Quantum Computing 02 The Only Quantum Platform Company In the World Establishing real-world quantum security with deployable PQC and QKD solutions Quantum Security IonQ is differentiated by its integrated, full-stack quantum solution IonQ Q3 2025 Update
Page 6
Copyright © 2025 IonQ, Inc. All Rights Reserved. $3,465 $834 $572 $108 $25 $8 IonQ D-Wave Rigetti >2x Combined Cash Balance Cash Balance & Revenue Leadership FINANCIAL SCALE COMMERCIAL REACH 1,100+ Patents Granted and Pending Worldwide >6x Average FY25 Expected Revenue IP Moat Applications ($ in millions) Cash & Investments 2025 Revenue 1 Reach2 3 15+ Offices in 7 Countries & Global Partnerships 03 Strongest Independent Quantum Company 6 1. IonQ cash and investments at September 30, 2025, pro forma for $1.98 billion of net proceeds from an equity issuance on October 14, 2025 2. IonQ 2025 revenue of $108 million represents the midpoint of guidance range of $106 to $110 million 3. Other public quantum companies represent D-Wave and Rigetti; cash and investments as of Q2 2025 and revenue based on street consensus estimates as of November 4, 2025, from Capital IQ other public quantum companies3 Oak Ridge National Laboratory 1 2 IonQ Q3 2025 Update
Page 7
Copyright © 2025 IonQ, Inc. All Rights Reserved. IonQ Q3 2025 Update7 04 Proven Leadership Team Building Our Future Dr. Chris Ballance President, Quantum Computing Oxford Ionics | Oxford University Dr. Mihir Bhaskar SVP, Global R&D Harvard University | AWS Center for Quantum Networking Dr. Chris Monroe Chief Scientific Advisor & Co-Founder Duke University | NIST University of Maryland First Demonstration of quantum logic gate & multi-qubit entanglement World Records: 99.999% 1Q Fidelity 99.99% 2Q Fidelity World Records: First Demonstration of memory-enhanced quantum communication World Records: Inder Singh Chief Operating Officer & Chief Financial Officer Arm | Unisys | Cisco Niccolo de Masi Chairman & CEO dMY Technology Group | Glu | Siemens Genius Sports | Resideo | Planet Paul Dacier Chief Administrative Officer, Chief Legal Officer & Corporate Secretary EMC | AerCap Holdings | Quinn Emanuel Purpose-Driven Executives Joined in 2025 Experienced Executives Technical Specialists Government and Industry Experts Robert Cardillo Executive Chairman, IonQ Federal National Geospatial-Intelligence Agency Rick Muller VP, Quantum Systems IARPA | Sandia National Labs Dr. Marco Pistoia SVP, Industry Relations JP Morgan Chase | IBM Dean Acosta Chief Corporate Affairs & Government Relations Officer Lockheed Martin | NASA | Honeywell General John Raymond Independent Director U.S. Space Force Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ Q3 2025 Update
Page 8
Copyright © 2025 IonQ, Inc. All Rights Reserved. Copyright © 2025 IonQ, Inc. All Rights Reserved. Q3 2025 Financial Highlights 8 IonQ Q3 2025 Update
Page 9
Copyright © 2025 IonQ, Inc. All Rights Reserved. IonQ Q3 2025 Update YOY GROWTH% 1. CAGR and year-over-year growth represented based on midpoint of 2025 revenue guidance range ($108M)9 $2.1M $11.1M $22.0M $43.1M N/A 429% 98% 96% 151%1 2021A 2022A 2023A 2024A 2025E Largest Revenue Scale in the Industry and Proven Track Record of Doubling Revenue $106.0M $110.0M168% CAGR1 1 Growing customer adoption 2 Complete platform offering (compute, networking, sensing) 3 Broader opportunity set than ever before 4 Revenue scale ~11x times greater than nearest competitors Copyright © 2025 IonQ, Inc. All Rights Reserved. Revenue guidance range IonQ Q3 2025 Update
Page 10
Copyright © 2025 IonQ, Inc. All Rights Reserved. IonQ Q3 2025 Update Strong Third Quarter 2025 Results Driving Increased Revenue Guidance 10 FQ3 2024 FQ3 2025 $12.4M $39.9M 222% 3Q 2025 Revenue Copyright © 2025 IonQ, Inc. All Rights Reserved. Increasing our revenue guidance for full-year 2025, implying 150% YoY REVENUE GROWTH First public quantum company to guide to triple digit revenue IonQ Q3 2025 Update
Page 11
Copyright © 2025 IonQ, Inc. All Rights Reserved. IonQ Q3 2025 Update Our Balance Sheet Fuels Our Growth Trajectory $3.5B1 in cash and equivalents $0 in debt 11 $2.0B Raise 20% Premium to October 2025 trading price 1 Invest in R&D 2 Scale the infrastructure 3 Build applications 4 Attract talent 5 Maintain flexibility $1.0B Raise 25% Premium to July 2025 trading price IonQ is the best-capitalized pure-play quantum provider on the market today Two capital raises in 2H 2025 secure our ability to invest in IonQ Copyright © 2025 IonQ, Inc. All Rights Reserved.IonQ Q3 2025 Update 1. At September 30, 2025, pro forma for $1.98 billion of net proceeds from an equity issuance on October 14, 2025
Page 12
Copyright © 2025 IonQ, Inc. All Rights Reserved.