IONQ IonQ, Inc. Common Stock
NYSE · Technology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 10, 2026IONQ Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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About IonQ, Inc. Common Stock Company overview from Wikipedia
IonQ, Inc. is an American quantum computing hardware and software company headquartered in College Park, Maryland. The company develops general-purpose trapped ion quantum computers and accompanying software to generate, optimize, and execute quantum circuits.
History
IonQ was co-founded by Christopher Monroe, at the time a professor at University of Maryland, and Jungsang Kim, a professor at Duke University, in 2015, with the help of venture firm New Enterprise Associates.
The company is an offshoot of the co-founders’ 25 years of academic research in quantum information science. Monroe's quantum computing research began as a Staff Researcher at the National Institute of Standards and Technology (NIST) with physicist David Wineland where he led a team using trapped ions to produce the first controllable qubits and the first controllable quantum logic gate, culminating in a proposed architecture for a large-scale trapped ion computer.
Kim and Monroe, who was at the time a professor at the University of Maryland, College Park (UMD), began collaborating formally as a result of larger research initiatives funded by the Intelligence Advanced Research Projects Activity (IARPA). They wrote a review paper for Science Magazine entitled Scaling the Ion Trap Quantum Processor, pairing Monroe's research at UMD in trapped ions with Kim's focus on scalable quantum information processing and quantum communication hardware.
This research partnership became the seed for IonQ's founding. In 2015, New Enterprise Associates invested $2 million to commercialize the technology Monroe and Kim proposed in their Science paper.
In 2016, they brought on David Moehring from IARPA—where he was in charge of several quantum computing initiatives—to be the company's chief executive. In 2017, they raised a $20 million series B, led by GV (formerly Google Ventures) and New Enterprise Associates, the first investment GV has made in quantum computing technology. They began hiring in earnest in 2017, with the intent to bring an offering to market by late 2018.
In May 2019, former Amazon Prime executive Peter Chapman was named new CEO of the company. IonQ then partnered to make its quantum computers available to the public through Amazon Web Services, Microsoft Azure, and Google Cloud.
In October 2021, IonQ received $636 million when it went public on the New York Stock Exchange via a special-purpose acquisition company. The company opened a dedicated research and development facility in Bothell, Washington, in February 2024, touting it as the first quantum computing factory in the United States.
Niccolò de Masi became president and CEO of IonQ in February 2025, after beinging on the company's board since 2021. He succeeded Peter Chapman, who became executive chair. In August 2025, de Masi was appointed chairman.
In August 2026, IonQ's Space Division, previously known as Capella, secured a contract with the U.S. National Reconnaissance Office to provide services related to the NRO’s Radar Commercial Augmentation program.
Leadership
Peter Chapman (2019–2025)
Peter Chapman was CEO of IonQ from May 2019 until February 2025.
Before joining IonQ, he was an engineering director at Amazon, overseeing a 260-person team responsible for the “delivery experience” for Amazon Prime. Chapman guided IonQ through its transition from a private research-driven company to a publicly traded quantum computing firm, following its 2021 merger with dMY Technology Group III. He was Executive Chair after stepping down as CEO in 2025 before stepping down from that role in the summer of 2025.
Niccolò de Masi (2025–present)
Niccolò de Masi succeeded Chapman as CEO in February 2025. A physicist by training with degrees from the University of Cambridge’s Cavendish Laboratory, de Masi has led multiple technology and consumer companies and was on more than a dozen public company boards. Early in his career, he was CEO of Monstermob Group PLC and Glu Mobile, where he oversaw significant growth through mobile gaming and hardware-software ecosystem strategies. He later co-founded dMY Technology Group, which completed several special-purpose acquisition company (SPAC) mergers, including IonQ’s 2021 public listing.
As CEO, de Masi has focused on expanding IonQ’s footprint in quantum networking and international markets. During his tenure, IonQ has completed several acquisitions. IonQ has also pursued global partnerships with organizations such as Japan’s National Institute of Advanced Industrial Science and Technology (AIST) and EPB in Chattanooga, Tennessee, while exploring future expansion through planned acquisitions of Oxford Ionics and Capella Space.
Acquisitions
In November 2024, IonQ announced it would acquire Qubitekk, a U.S. firm focused on quantum networking technologies.
In May 2025, the company acquired a controlling stake in ID Quantique (IDQ), a Geneva-based firm specializing in quantum-safe cryptography and sensing technologies, adding hundreds of patents to IonQ's portfolio.
In June 2025, IonQ agreed to acquire British quantum computing startup, Oxford Ionics, for approximately $1.1 billion in IonQ stock. Also in June, IonQ completed the acquisition of Lightsynq Technologies, a US startup developing photonic interconnects and quantum memory, for 12.4 million shares of IonQ stock.
In July 2025, IonQ acquired satellite imaging company Capella Space, which had raised $320 million since it began in 2016, for $311 million of IonQ stock, with the aim of supporting plans for space-based quantum key distribution networks.
In September 2025, IonQ announced the acquisition of Vector Atomic, a California-based company specializing in quantum sensors for positioning, navigation, and timing applications.
In January 2026, IonQ agreed to buy SkyWater Technology for $1.8 billion. The acquisition was completed in July 2026.
Technology
IonQ's hardware is based on a trapped ion architecture, from technology that Monroe developed at the University of Maryland, and that Kim developed at Duke.
In November 2017, IonQ presented a paper at the IEEE International Conference on Rebooting Computing describing their technology strategy and current progress. It outlines using a microfabricated ion trap and several optical and acousto-optical systems to cool, initialize, and calculate. They also describe a cloud API, custom language bindings, and quantum computing simulators that take advantage of their trapped ion system's complete connectivity.
IonQ and some experts claim that trapped ions could provide a number of benefits over other physical qubit types in several measures, such as accuracy, scalability, predictability, and coherence time. Others criticize the slow operational times and relative size of trapped ion hardware, claiming other qubit technologies are just as promising. IonQ measures performance of their devices by Algorithmic qubits, a metric devised in 2020 which accounts for both qubit quality and the overall quality of gate operations.
IonQ was selected by the Defense Advanced Research Projects Agency (DARPA) to participate in Stage B of the Quantum Benchmarking Initiative (QBI), joining ten other leading companies in the quantum computing industry. This selection follows IonQ’s successful completion of Stage A, which required participants to outline a path to developing utility-scale quantum computers. The QBI program seeks to assess whether a practical, industrially useful quantum computer can be realized by 2033.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | IONQ | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -11.05Y avg ≈-20.6 | ≈-20.6 | · | · | |
| P/S (TTM) | 67.75Y avg ≈129.6 | ≈129.6 | 3.5 | Overvalued | |
| P/B (MRQ) | 5.05Y avg ≈8.7 | ≈8.7 | 5.2 | Overvalued | |
| Price / FCF (TTM) | -34.55Y avg ≈-42.4 | ≈-42.4 | · | · | |
| Price / Cash Flow (TTM) | -36.95Y avg ≈-48.3 | ≈-48.3 | · | · | |
| Price / Tangible Book (MRQ) | 6.55Y avg ≈10.9 | ≈10.9 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | IONQ | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -408.2%5Y avg ≈-437.4% | ≈-437.4% | 5.9% | Weak | |
| EBITDA Margin | -487.4%5Y avg ≈-437.4% | ≈-437.4% | 6.2% | Weak | |
| Pretax Margin (TTM) | -571.3%5Y avg ≈-479.4% | ≈-479.4% | 5.5% | Weak | |
| Net Profit Margin (TTM) | -553.3%5Y avg ≈-470.6% | ≈-470.6% | 4.5% | Weak | |
| ROA (TTM) | -33.6%5Y avg ≈-28.0% | ≈-28.0% | 3.5% | Weak | |
| ROE (TTM) | -60.8%5Y avg ≈-35.8% | ≈-35.8% | 11.5% | Weak | |
| ROIC | -15.3%5Y avg ≈-30.9% | ≈-30.9% | 9.6% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | IONQ | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 10.75Y avg ≈13.7 | ≈13.7 | 1.3 | Strong liquidity | |
| Quick Ratio (MRQ) | 9.85Y avg ≈13.0 | ≈13.0 | 0.8 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | IONQ | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 201.8%5Y avg ≈206.4% | ≈206.4% | · | · | |
| Revenue CAGR 3Y | 126.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | IONQ | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.05Y avg ≈0.5 | ≈0.5 | 0.8 | Weak | |
| Receivables Turnover | 3.45Y avg ≈157.0 | ≈157.0 | 6.4 | Weak | |
| Revenue / Employee | ≈$114.9K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $-0.33 | $-0.29 | -13.3% |
| March 31, 2026 | May 13, 2026 | $-0.34 | $-0.36 | 5.4% |
| Dec. 31, 2025 | $1.93 | $-0.33 | 679.6% | |
| Sept. 30, 2025 | $-0.17 | $-0.34 | 49.3% | |
| June 30, 2025 | $-0.70 | $-0.28 | -152.3% | |
| March 31, 2025 | $-0.14 | $-0.21 | 33.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $130M | $43M | $22M | $11M | $2M | $0 | |
| R&D Expense | $306M | $137M | $92M | $44M | $20M | $10M | |
| SG&A Expense | $245M | $71M | $51M | $36M | $14M | $4M | |
| Operating Income | $-634M | $-232M | $-158M | $-86M | $-39M | $-16M | |
| Other Non-op | $29.0K | $-275.0K | $-85.0K | $6.0K | $28.0K | · | |
| Pretax Income | $-557M | $-332M | $-158M | $-49M | $-106M | $-15M | |
| Income Tax | $-45M | $59.0K | $48.0K | $0 | $0 | $0 | |
| Net Income | $-510M | $-332M | $-158M | $-49M | $-106M | $-15M | |
| EPS (Basic) | $-1.82 | $-1.56 | $-0.78 | $-0.25 | $-0.77 | · | |
| EPS (Diluted) | $-1.82 | $-1.56 | $-0.78 | $-0.25 | $-0.77 | · | |
| Shares (Basic) | 280,345,046 | 213,029,365 | 202,576,492 | 197,727,642 | 137,609,620 | · | |
| Shares (Diluted) | 280,345,046 | 213,029,365 | 202,576,492 | 197,727,642 | 137,609,620 | · | |
| EBITDA | $-634M | $-232M | $-158M | $-86M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.03B | $54M | $36M | $44M | $399M | $36M | |
| Short-term Investments | $1.36B | $286M | $320M | $311M | $123M | $0 | |
| Receivables | $67M | $10M | $11M | $3M | $707.0K | $390.0K | |
| Inventory | $10M | $0 | · | · | · | · | |
| Prepaid Expense | $128M | $28M | $23M | $13M | $6M | $2M | |
| Other Current Assets | $25M | $3M | $3M | $3M | · | · | |
| Current Assets | $2.59B | $379M | $390M | $372M | $530M | $39M | |
| PP&E (Net) | $120M | $53M | $38M | $26M | $19M | $12M | |
| PP&E (Gross) | $174M | $80M | $52M | $33M | $22M | $14M | |
| Accum. Depreciation | $54M | $28M | $15M | $7M | $3M | $2M | |
| Goodwill | $1.96B | $10M | $742.0K | $742.0K | $0 | · | |
| Intangibles | $767M | $29M | $15M | $9M | $6M | $3M | |
| Other Non-current Assets | $165M | $4M | $5M | $5M | $4M | $3M | |
| Total Assets | $6.57B | $508M | $554M | $598M | $642M | $60M | |
| Accounts Payable | $26M | $5M | $6M | $3M | $2M | $538.0K | |
| Accrued Liabilities | $90M | $17M | $18M | $7M | $3M | $608.0K | |
| Current Liabilities | $167M | $36M | $37M | $20M | $10M | $2M | |
| Capital Leases | $21M | $14M | $7M | $3M | $4M | $4M | |
| Deferred Tax | $86M | $0 | · | · | · | · | |
| Other Non-current Liabilities | $95M | $3M | $128.0K | $303.0K | $0 | · | |
| Total Liabilities | $2.76B | $125M | $69M | $30M | $51M | $7M | |
| Common Stock | $36.0K | $22.0K | $20.0K | $20.0K | $19.0K | $3.0K | |
| Paid-in Capital | $5.01B | $1.07B | $839M | $770M | $737M | $93M | |
| Retained Earnings | $-1.19B | $-684M | $-352M | $-194M | $-146M | $-40M | |
| AOCI | $-13M | $157.0K | $-2M | $-7M | $-148.0K | $0 | |
| Stockholders' Equity | $3.80B | $384M | $485M | $568M | $591M | $54M | |
| Liabilities + Equity | $6.57B | $508M | $554M | $598M | $642M | $60M | |
| Shares Outstanding | 362,592,722 | 221,919,191 | 206,611,704 | 199,862,123 | 195,630,975 | 118,146,795 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $82M | $19M | $10M | $6M | $3M | $1M | |
| Stock-based Comp | $312M | $107M | $70M | $31M | $8M | $1M | |
| Deferred Tax | $-45M | $0 | $0 | $0 | · | · | |
| Amort. of Intangibles | $53M | $6M | $3M | $2M | $800.0K | $300 | |
| Operating Cash Flow | $-283M | $-106M | $-79M | $-45M | $-27M | $-12M | |
| CapEx | $16M | $18M | $14M | $9M | $8M | $10M | |
| Investing Cash Flow | $-2.10B | $83M | $69M | $-309M | $-214M | $-12M | |
| Stock Issued | $3.31B | $0 | $0 | · | · | · | |
| Net Stock Activity | $3.31B | · | · | · | · | · | |
| Financing Cash Flow | $3.36B | $42M | $2M | $1M | $603M | $276.0K | |
| Net Change in Cash | $981M | $19M | $-8M | $-353M | $363M | $-23M | |
| Taxes Paid | $0 | $0 | $0 | · | · | · | |
| Free Cash Flow | $-300M | $-124M | $-93M | $-54M | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | -487.4% | -539.7% | -715.7% | -6.9% | · | · | |
| Net Margin | -392.6% | -770.0% | -715.8% | -3.9% | · | · | |
| Pretax Margin | -428.2% | -769.8% | -715.6% | -3.9% | · | · | |
| EBITDA Margin | -487.4% | -539.7% | -715.7% | -6.9% | · | · | |
| ROA | -14.4% | -62.5% | -27.4% | -7.8% | · | · | |
| ROE | -24.4% | -78.3% | -32.1% | -8.5% | · | · | |
| ROIC | -15.3% | -60.6% | -32.5% | -15.1% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 15.5 | 10.5 | 10.5 | 18.4 | · | · | |
| Quick Ratio | 14.7 | 9.7 | 9.9 | 17.8 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.1 | 0.0 | 2.0 | · | · | |
| Receivables Turnover | 3.4 | 4.0 | 3.0 | 617.7 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Book Value / Share | $10.48 | $1.73 | $2.35 | $2.84 | · | · | |
| Revenue / Share | $0.46 | $0.20 | $0.11 | $6.25 | · | · | |
| Cash Flow / Share | $-1.01 | $-0.50 | $-0.39 | $-0.23 | · | · | |
| Cash / Share | $2.84 | $0.25 | $0.17 | $0.22 | · | · | |
| EPS (TTM) | $-1.82 | $-1.56 | $-0.78 | $-0.25 | $-0.77 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 201.8% | 95.4% | 98.0% | 430.3% | · | · | |
| Revenue CAGR 3Y | 126.9% | 173.8% | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $130M | $43M | $22M | $11M | $2M | $0 | |
| Net Income TTM | $-510M | $-332M | $-158M | $-49M | $-106M | $-15M | |
| Market Cap | $16.27B | $9.27B | $2.56B | $690M | · | · | |
| P/E | -24.7 | -26.8 | -15.9 | -13.8 | -21.7 | · | |
| P/S | 125.1 | 215.2 | 116.1 | 61.9 | · | · | |
| P/B | 4.3 | 24.1 | 5.3 | 1.2 | · | · | |
| P / Tangible Book | 15.2 | 26.9 | 5.5 | 1.2 | 5.6 | · | |
| P / Cash Flow | -57.5 | -87.7 | -32.5 | -15.4 | · | · | |
| P / FCF | -54.3 | -75.0 | -27.7 | -12.8 | · | · | |
| Earnings Yield | -4.1% | -3.7% | -6.3% | -7.2% | -4.6% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $80M | $65M | $62M | $40M | $21M | $8M | $12M | $12M | $11M | $8M | $6M | $6M | $6M | $4M | $4M | $3M | |
| R&D Expense | $161M | $126M | $96M | $66M | $103M | $40M | $40M | $33M | $31M | $32M | $32M | $25M | $20M | $16M | $14M | $13M | |
| SG&A Expense | $118M | $89M | $91M | $83M | $48M | $24M | $30M | $14M | $13M | $14M | $15M | $14M | $11M | $11M | $9M | $10M | |
| Operating Income | $-337M | $-272M | $-229M | $-169M | $-161M | $-76M | $-78M | $-53M | $-49M | $-53M | $-54M | $-42M | $-33M | $-28M | $-24M | $-25M | |
| Other Non-op | $80M | $-16M | $726.0K | $-980.0K | $232.0K | $51.0K | $-111.0K | $15.0K | $-45.0K | $-134.0K | $-235.0K | $55.0K | $31.0K | $64.0K | $31.0K | $20.0K | |
| Pretax Income | $-1.87B | $798M | $728M | $-1.06B | $-193M | $-32M | $-202M | $-52M | $-38M | $-40M | $-42M | $-45M | $-44M | $-27M | $-19M | $-24M | |
| Income Tax | $-6M | $-6M | $-25M | $-4M | $-15M | $12.0K | $20.0K | $16.0K | $15.0K | $8.0K | $9.0K | $39.0K | $0 | $0 | $0 | $0 | |
| Net Income | $-1.87B | $805M | $754M | $-1.05B | $-177M | $-32M | $-202M | $-52M | $-38M | $-40M | $-42M | $-45M | $-44M | $-27M | $-19M | $-24M | |
| EPS (Basic) | $-5.08 | $2.19 | $2.60 | $-3.58 | $-0.70 | $-0.14 | $-0.95 | $-0.24 | $-0.18 | $-0.19 | $-0.20 | $-0.22 | $-0.22 | $-0.14 | $-0.10 | $-0.12 | |
| EPS (Diluted) | $-5.08 | $2.07 | $2.60 | $-3.58 | $-0.70 | $-0.14 | $-0.95 | $-0.24 | $-0.18 | $-0.19 | $-0.20 | $-0.22 | $-0.22 | $-0.14 | $-0.10 | $-0.12 | |
| Shares (Basic) | 367,660,636 | 358,822,219 | · | 294,524,786 | 250,967,455 | 228,759,209 | · | 214,305,053 | 211,637,479 | 208,159,439 | · | 203,390,383 | 201,431,494 | 200,112,855 | · | 198,301,240 | |
| Shares (Diluted) | 367,660,636 | 371,228,286 | · | 294,524,786 | 250,967,455 | 228,759,209 | · | 214,305,053 | 211,637,479 | 208,159,439 | · | 203,390,383 | 201,431,494 | 200,112,855 | · | 198,301,240 | |
| EBITDA | $-337M | $-272M | · | $-169M | $-161M | $-76M | · | $-53M | $-49M | $-53M | · | $-42M | $-33M | $-28M | · | $-25M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.24B | $494M | $1.03B | $346M | $140M | $160M | $54M | $30M | $42M | $60M | · | $37M | $14M | $52M | · | $57M | |
| Short-term Investments | $883M | $1.54B | $1.36B | $736M | $407M | $429M | $286M | $336M | $328M | $315M | · | $347M | $362M | $336M | · | $348M | |
| Receivables | $106M | $98M | $67M | $37M | $19M | $9M | $10M | $4M | $8M | $10M | · | $3M | $2M | $2M | · | $3M | |
| Inventory | $25M | $17M | $10M | $9M | $9M | · | $0 | · | · | · | · | · | · | · | · | · | |
| Prepaid Expense | $185M | $171M | $128M | $96M | $60M | $39M | $28M | $26M | $27M | $25M | · | $17M | $13M | $13M | · | $8M | |
| Other Current Assets | $31M | $32M | $25M | $20M | $16M | $7M | $3M | $2M | $4M | $4M | · | · | · | · | · | · | |
| Current Assets | $2.41B | $2.30B | $2.59B | $1.22B | $626M | $637M | $379M | $395M | $405M | $410M | · | $404M | $391M | $402M | · | $417M | |
| PP&E (Net) | $144M | $132M | $120M | $120M | $59M | $52M | $53M | $49M | $48M | $42M | · | $35M | $29M | $26M | · | $25M | |
| PP&E (Gross) | $216M | $195M | $174M | $166M | $96M | $84M | $80M | $73M | $68M | $60M | · | $48M | $39M | $35M | · | $32M | |
| Accum. Depreciation | $72M | $63M | $54M | $46M | $37M | $32M | $28M | $24M | $20M | $17M | · | $12M | $10M | $9M | · | $7M | |
| Goodwill | $2.19B | $2.13B | $1.96B | $1.87B | $371M | $11M | $10M | $727.0K | $719.0K | $726.0K | $742.0K | $742.0K | $742.0K | $742.0K | $742.0K | · | |
| Intangibles | $779M | $781M | $767M | $656M | $143M | $28M | $29M | $17M | $17M | $17M | · | $13M | $12M | $10M | · | $8M | |
| Other Non-current Assets | $373M | $268M | $165M | $39M | $27M | $4M | $4M | $8M | $5M | $6M | · | $6M | $5M | $5M | · | $3M | |
| Total Assets | $6.78B | $6.69B | $6.57B | $4.32B | $1.35B | $850M | $508M | $498M | $517M | $544M | · | $565M | $577M | $588M | · | $607M | |
| Accounts Payable | $45M | $38M | $26M | $17M | $9M | $9M | $5M | $5M | $6M | $6M | · | $6M | $5M | $4M | · | $5M | |
| Accrued Liabilities | $97M | $65M | $90M | $92M | $49M | $24M | $17M | $16M | $9M | $11M | · | $16M | $9M | $9M | · | $8M | |
| Current Liabilities | $226M | $164M | $167M | $139M | $81M | $48M | $36M | $32M | $31M | $35M | · | $29M | $24M | $21M | · | $20M | |
| Capital Leases | $43M | $21M | $21M | $20M | $14M | $14M | $14M | $15M | $15M | $14M | · | $6M | $6M | $6M | · | $4M | |
| Deferred Tax | $76M | $78M | · | · | $4M | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $104M | $99M | $95M | $101M | $13M | $2M | $3M | $3M | $110.0K | $27.0K | · | $183.0K | $53.0K | $77.0K | · | $367.0K | |
| Total Liabilities | $3.44B | $1.70B | $2.76B | $2.03B | $168M | $85M | $125M | $62M | $54M | $64M | · | $67M | $54M | $36M | · | $31M | |
| Common Stock | $38.0K | $37.0K | $36.0K | $32.0K | $27.0K | $24.0K | $22.0K | $22.0K | $21.0K | $21.0K | · | $20.0K | $20.0K | $20.0K | · | $20.0K | |
| Paid-in Capital | $5.64B | $5.42B | $5.01B | $4.24B | $2.05B | $1.48B | $1.07B | $917M | $894M | $873M | · | $813M | $795M | $779M | · | $760M | |
| Retained Earnings | $-2.26B | $-389M | $-1.19B | $-1.95B | $-893M | $-716M | $-684M | $-482M | $-429M | $-392M | · | $-310M | $-265M | $-222M | · | $-176M | |
| AOCI | $-54M | $-55M | $-13M | $-17M | $4M | $-11.0K | $157.0K | $335.0K | $-1M | $-2M | · | $-5M | $-6M | $-5M | · | $-9M | |
| Stockholders' Equity | $3.33B | $4.98B | $3.80B | $2.27B | $1.16B | $765M | $384M | $436M | $463M | $480M | · | $498M | $523M | $552M | $568M | $576M | |
| Liabilities + Equity | $6.78B | $6.69B | $6.57B | $4.32B | $1.35B | $850M | $508M | $498M | $517M | $544M | · | $565M | $577M | $588M | · | $607M | |
| Shares Outstanding | 381,044,481 | 373,171,320 | 362,592,722 | 325,308,961 | 269,600,132 | 243,068,917 | 221,919,191 | 215,975,686 | 213,722,503 | 210,844,442 | · | 204,117,084 | 201,869,202 | 200,122,686 | · | 198,914,446 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $46M | $43M | $41M | $24M | $11M | $7M | $6M | $5M | $4M | $4M | $4M | $3M | $2M | $2M | $1M | $2M | |
| Stock-based Comp | $142M | $129M | $107M | $73M | $99M | $33M | $39M | $25M | $21M | $22M | $31M | $17M | $11M | $10M | $9M | $10M | |
| Deferred Tax | $-6M | $-7M | $-25M | $-5M | $-15M | $0 | $0 | $0 | · | · | · | · | · | · | · | · | |
| Amort. of Intangibles | $33M | $32M | $30M | $15M | $5M | $2M | $2M | $1M | $1M | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-104M | $-151M | $-75M | $-123M | $-53M | $-33M | $-39M | $-19M | $-27M | $-20M | $-27M | $-22M | $-16M | $-14M | $-15M | $-13M | |
| CapEx | $10M | $8M | $9M | $4M | $1M | $2M | $4M | $4M | $7M | $3M | $7M | $4M | $1M | $1M | $955.0K | $1M | |
| Investing Cash Flow | $834M | $-392M | $-1.22B | $-673M | $29M | $-230M | $24M | $7M | $8M | $44M | $24M | $46M | $-22M | $21M | $5M | $25M | |
| Stock Issued | $0 | $0 | $1.95B | $1.00B | $-4M | $362M | $0 | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $12M | $7M | $1.98B | $1.00B | $4M | $369M | $39M | $1M | $-33.0K | $1M | $977.0K | $244.0K | $506.0K | $34.0K | $-1M | $1M | |
| Net Change in Cash | $742M | $-536M | $685M | $209M | $-19M | $106M | $24M | $-12M | $-18M | $24M | $-1M | $23M | $-38M | $8M | $-11M | $13M | |
| Free Cash Flow | · | $-159M | · | · | · | $-35M | · | · | · | $-24M | · | · | · | $-15M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -421.3% | -419.9% | · | -423.4% | -776.0% | -1000.2% | · | -428.5% | -430.0% | -697.4% | · | -687.6% | -600.0% | -654.0% | · | -1209.9% | |
| Net Margin | -2333.2% | 1245.4% | · | -2646.2% | -854.5% | -426.3% | · | -423.4% | -330.0% | -522.2% | · | -730.3% | -792.7% | -638.0% | · | -1164.8% | |
| Pretax Margin | -2341.9% | 1234.4% | · | -2659.0% | -931.7% | -426.1% | · | -423.2% | -329.9% | -522.1% | · | -729.7% | -792.7% | -638.0% | · | -1164.8% | |
| EBITDA Margin | -421.3% | -419.9% | · | -423.4% | -776.0% | -1000.2% | · | -428.5% | -430.0% | -697.4% | · | -687.6% | -600.0% | -654.0% | · | -1209.9% | |
| ROA | -46.0% | 21.3% | · | -43.8% | -19.0% | -4.6% | · | -9.9% | -6.9% | -7.0% | · | -7.6% | -7.3% | -4.5% | · | -3.9% | |
| ROE | -83.2% | 28.1% | · | -77.9% | -21.8% | -5.2% | · | -11.2% | -7.6% | -7.7% | · | -8.3% | -7.8% | -4.8% | · | -4.2% | |
| ROIC | -10.1% | -5.5% | · | -7.4% | -12.7% | -9.9% | · | -12.2% | -10.6% | -11.0% | · | -8.5% | -6.3% | -5.1% | · | -4.3% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.7 | 14.1 | · | 8.7 | 7.8 | 13.2 | · | 12.2 | 13.1 | 11.8 | · | 14.1 | 16.6 | 19.3 | · | 21.2 | |
| Quick Ratio | 9.8 | 13.0 | · | 8.0 | 7.0 | 12.4 | · | 11.4 | 12.3 | 11.1 | · | 13.5 | 16.0 | 18.7 | · | 20.8 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | 1.3 | 1.2 | · | 1.9 | 1.5 | 0.8 | · | 3.5 | 2.2 | 1.3 | · | 2.1 | 2.6 | 3.6 | · | 0.6 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $8.73 | $13.33 | · | $6.99 | $4.31 | $3.15 | · | $2.02 | $2.17 | $2.28 | · | $2.44 | $2.59 | $2.76 | · | $2.89 | |
| Revenue / Share | $0.22 | $0.17 | · | $0.14 | $0.08 | $0.03 | · | $0.06 | $0.05 | $0.04 | · | $0.03 | $0.03 | $0.02 | · | $0.01 | |
| Cash Flow / Share | · | $-0.41 | · | · | · | $-0.14 | · | · | · | $-0.10 | · | · | · | $-0.07 | · | · | |
| Cash / Share | $3.24 | $1.32 | · | $1.06 | $0.52 | $0.66 | · | $0.14 | $0.20 | $0.28 | · | $0.18 | $0.07 | $0.26 | · | $0.29 | |
| EPS (TTM) | $-3.99 | $0.39 | · | $-5.37 | $-2.03 | $-1.51 | · | $-0.81 | $-0.79 | $-0.83 | · | $-0.68 | $-0.58 | $-0.37 | · | $-0.65 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $246M | $187M | · | $80M | $52M | $43M | · | $37M | $31M | $25M | · | $20M | $16M | $13M | · | · | |
| Net Income TTM | $-1.36B | $327M | · | $-1.47B | $-464M | $-324M | · | $-172M | $-164M | $-170M | · | $-135M | $-114M | $-72M | · | $-104M | |
| Market Cap | $20.29B | $10.76B | · | $20.01B | $11.58B | $5.36B | · | $1.89B | $1.50B | $2.11B | · | $3.04B | $2.73B | $1.23B | · | $1.01B | |
| P/E | -13.3 | 73.9 | · | -11.5 | -21.2 | -14.6 | · | -10.8 | -8.9 | -12.0 | · | -21.9 | -23.3 | -16.6 | · | -7.8 | |
| P/S | 82.3 | 57.5 | · | 250.6 | 221.2 | 124.6 | · | 50.4 | 48.1 | 83.1 | · | 153.8 | 166.8 | 91.4 | · | · | |
| P/B | 6.1 | 2.2 | · | 8.8 | 10.0 | 7.0 | · | 4.3 | 3.2 | 4.4 | · | 6.1 | 5.2 | 2.2 | · | 1.8 | |
| P / Tangible Book | 56.0 | 5.2 | · | · | 17.9 | 7.4 | · | 4.5 | 3.4 | 4.6 | · | 6.3 | 5.3 | 2.3 | · | 1.8 | |
| P / Cash Flow | · | -71.2 | · | · | · | -162.4 | · | · | · | -102.9 | · | · | · | -89.1 | · | · | |
| Earnings Yield | -7.5% | 1.4% | · | -8.7% | -4.7% | -6.8% | · | -9.3% | -11.2% | -8.3% | · | -4.6% | -4.3% | -6.0% | · | -12.8% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $130M | $43M | $22M | $11M | $2M |
| Operating Margin % | -487.4% | -539.7% | -715.7% | -6.9% | · |
| Net Income | $-510M | $-332M | $-158M | $-49M | $-106M |
| Diluted EPS | $-1.82 | $-1.56 | $-0.78 | $-0.25 | $-0.77 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 15.5 | 10.5 | 10.5 | 18.4 | · |
| Quick Ratio | 14.7 | 9.7 | 9.9 | 17.8 | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-300M | $-124M | $-93M | $-54M | · |
Institutional owners (13F) 881 filers · $14.2B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 241 (+116 vs prior Q) | 74 (-47 vs prior Q) | 326 (+50 vs prior Q) | 176 (-18 vs prior Q) | +5.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $1,560,342,719 | 34,774,743 | 10.98% | Shares |
| MORGAN STANLEY | $1,399,640,807 | 26,279,397 | 9.85% | Shares |
| BlackRock, Inc. | $1,112,945,167 | 20,896,455 | 7.83% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $830,778,560 | 15,598,546 | 5.85% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $743,470,134 | 13,959,259 | 5.23% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $475,585,170 | 8,929,500 | 3.35% | Call option |
| STATE STREET CORP | $432,664,481 | 8,123,629 | 3.04% | Shares |
| UBS Group AG | $420,579,840 | 7,896,730 | 2.96% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $362,769,838 | 6,811,300 | 2.55% | Put option |
| BANK OF AMERICA CORP /DE/ | $344,756,653 | 6,473,088 | 2.43% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $343,108,312 | 6,459,949 | 2.41% | Shares |
| JANE STREET GROUP, LLC | $294,474,540 | 5,529,000 | 2.07% | Call option |
| NORGES BANK | $276,364,116 | 5,188,962 | 1.94% | Shares |
| CITADEL ADVISORS LLC | $252,154,144 | 4,734,400 | 1.77% | Call option |
| Marex Group Ltd | $197,467,362 | 3,707,611 | 1.39% | Shares |
| GOLDMAN SACHS GROUP INC | $167,992,692 | 3,154,200 | 1.18% | Put option |
| D. E. Shaw & Co., Inc. | $143,321,435 | 2,690,977 | 1.01% | Shares |
| JANE STREET GROUP, LLC | $132,723,920 | 2,492,000 | 0.93% | Put option |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $126,199,570 | 2,369,500 | 0.89% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $124,255,953 | 2,333,007 | 0.87% | Shares |
| MARSHALL WACE, LLP | $123,958,654 | 2,327,425 | 0.87% | Shares |
| CITADEL ADVISORS LLC | $118,988,166 | 2,234,100 | 0.84% | Put option |
| NORTHERN TRUST CORP | $117,685,533 | 2,209,642 | 0.83% | Shares |
| Bank of New York Mellon Corp | $113,863,439 | 2,137,879 | 0.80% | Shares |
| JANE STREET GROUP, LLC | $109,543,197 | 2,056,763 | 0.77% | Shares |
| MILLENNIUM MANAGEMENT LLC | $104,355,407 | 1,959,358 | 0.73% | Shares |
| GOLDMAN SACHS GROUP INC | $95,314,682 | 1,789,611 | 0.67% | Shares |
| Legal & General Group Plc | $82,126,014 | 1,541,983 | 0.58% | Shares |
| Balyasny Asset Management L.P. | $72,806,420 | 1,367,000 | 0.51% | Put option |
| WOLVERINE TRADING, LLC | $68,115,600 | 1,060,000 | 0.48% | Call option |
| Clear Street Group Inc. | $66,345,716 | 1,245,695 | 0.47% | Shares |
| VAN ECK ASSOCIATES CORP | $64,090,208 | 1,203,346 | 0.45% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $63,269,002 | 1,187,896 | 0.45% | Shares |
| Defiance ETFs, LLC | $61,559,878 | 1,197,663 | 0.43% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $57,976,067 | 1,088,548 | 0.41% | Shares |
| Amundi | $57,025,642 | 1,070,703 | 0.40% | Shares |
| CANTOR FITZGERALD, L. P. | $56,924,714 | 1,068,808 | 0.40% | Shares |
| Squarepoint Ops LLC | $56,850,363 | 1,067,412 | 0.40% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $56,033,035 | 1,052,066 | 0.39% | Shares |
| CANTOR FITZGERALD, L. P. | $55,923,000 | 1,050,000 | 0.39% | Put option |
| DIMENSIONAL FUND ADVISORS LP | $55,253,267 | 1,037,255 | 0.39% | Shares |
| PeakShares LLC | $53,260,000 | 1,000 | 0.37% | Shares |
| Daiwa Securities Group Inc. | $51,845,042 | 973,433 | 0.36% | Shares |
| LANSDOWNE PARTNERS (UK) LLP | $51,472,222 | 966,433 | 0.36% | Shares |
| Swiss National Bank | $50,945,746 | 956,548 | 0.36% | Shares |
| LPL Financial LLC | $48,324,582 | 907,334 | 0.34% | Shares |
| Nuveen, LLC | $45,803,387 | 859,996 | 0.32% | Shares |
| WORLDQUANT MILLENNIUM ADVISORS LLC | $44,574,732 | 836,927 | 0.31% | Shares |
| BANK OF MONTREAL /CAN/ | $44,153,605 | 829,020 | 0.31% | Shares |
| TWO SIGMA INVESTMENTS, LP | $42,908,759 | 805,647 | 0.30% | Shares |
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| June 9, 2023 | · | Initial filing | · | SEC | |
| New Enterprise Associates 15, L.P., NEA Partners 15, L.P., NEA 15 GP, LLC, Forest Baskett, Anthony A. Florence, Jr., Mohamad H. Makhzoumi, Scott D. Sandell, Peter W. Sonsini ×2 filings | June 6, 2022 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 31 insiders · 11 officers · 17 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Niccolo De Masi | President and CEO | Sept. 11, 2026 F | 1,123,426 | 0 | 0 | $0 |
| Inder M Singh | CFO & COO | Sept. 11, 2026 F | 408,614 | 0 | 0 | $0 |
| Thomas G. Kramer | Chief Financial Officer | Sept. 3, 2025 S | 473,302 | 0 | 0 | $0 |
| Paul T Dacier | CAO, CLO and Secretary | Sept. 11, 2026 F | 100,001 | 0 | 0 | $0 |
| Scott Francis Millard | Chief Business Officer | Dec. 11, 2025 F | 216,457 | 0 | 0 | $0 |
| Rima Alameddine | Chief Revenue Officer | Nov. 20, 2025 S | 432,616 | 0 | 1 | $-4,689,000 |
| Dean P. Acosta | CCA & GRO | Oct. 6, 2025 A | 75,959 | 0 | 0 | $0 |
| Peter Hume Chapman | Executive Chair | June 20, 2025 M | 390,329 | 0 | 0 | $0 |
| Jungsang Kim | CHIEF TECHNOLOGY OFFICER | March 14, 2024 G | 900,000 | 0 | 0 | $0 |
| Christopher Monroe | Chief Scientist | Aug. 15, 2023 A | 3,897,970 | 0 | 0 | $0 |
| Laurie A. Babinski | General Counsel and Secretary | May 25, 2023 S | 246,889 | 0 | 0 | $0 |
| John W Raymond | Director | Sept. 10, 2026 S | 77,741 | 0 | 3 | $-392,779 |
| Timothy E Baxter | Director | Aug. 24, 2026 A | 13,922 | 0 | 0 | $0 |
| Eric R. Ball | Director | Aug. 24, 2026 A | 5,540 | 0 | 0 | $0 |
| Kathryn K. Chou | Director | June 18, 2026 S | 62,608 | 0 | 3 | $-1,454,690 |
| Gabrielle B Toledano | Director | June 18, 2026 S | 11,154 | 0 | 2 | $-170,759 |
| William F Scannell | Director | June 17, 2026 A | 145,086 | 0 | 0 | $0 |
| William J Teuber JR | Director | June 17, 2026 A | 13,939 | 2 | 0 | $224,780 |
| Jim Frankola | Director | June 17, 2026 A | 8,939 | 0 | 0 | $0 |
| Robert T. Cardillo | Director | June 11, 2026 F | 139,063 | 0 | 3 | $-504,231 |
| Wendy Thomas | Director | June 12, 2025 M | 61,145 | 0 | 0 | $0 |
| Craig H Barratt | Director | Aug. 26, 2024 M | 61,700 | 0 | 0 | $0 |
| Harry L. You | Director | June 6, 2024 A | 168,041 | 0 | 0 | $0 |
| Ronald D Bernal | Director | June 30, 2023 A | 29,650 | 0 | 0 | $0 |
| Blake Byers | Director | May 26, 2022 A | 571,894 | 0 | 0 | $0 |
| Mohamad Makhzoumi | 10% owner | Nov. 16, 2022 J | 1,654 | 0 | 0 | $0 |
| New Enterprise Associates 15, L.P. | 10% owner | Nov. 16, 2022 J | 14,614,829 | 0 | 0 | $0 |
| Anthony A. Florence, Jr. | 10% owner | Nov. 16, 2022 J | 1,047 | 0 | 0 | $0 |
| Peter W. Sonsini | 10% owner | Nov. 16, 2022 J | 70 | 0 | 0 | $0 |
| Forest Baskett | 10% owner | Nov. 16, 2022 J | 9,525 | 0 | 0 | $0 |
| Scott D. Sandell | 10% owner | Nov. 16, 2022 J | 1,141 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 53 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PBW · Invesco Exchange-Traded Fund Trust | 1.60% | 122,706 SH | Oct. 1, 2026 | Daily |
| THNQ · EXCHANGE TRADED CONCEPTS TRUST | 1.28% | 146,052 NS | July 31, 2026 | N-PORT |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.43% | 68,934 NS | July 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.42% | 3,850,336 SH | Aug. 19, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.33% | 58,572 NS | July 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.31% | 169,840 NS | July 31, 2026 | N-PORT |
| ESUM · Strategy Shares | 0.23% | 11,338 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.22% | 4,283,456 SH | Aug. 19, 2026 | Daily |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.21% | 77,358 NS | July 31, 2026 | N-PORT |
| IMCG · iShares Trust | 0.20% | 214,092 SH | Sept. 11, 2026 | Daily |
| SMMD · iShares Trust | 0.20% | 205,522 SH | Sept. 11, 2026 | Daily |
| ESML · iShares Trust | 0.19% | 143,310 SH | Sept. 11, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.18% | 6,655,107 SH | Aug. 19, 2026 | Daily |
| IWS · iShares Trust | 0.14% | 575,435 SH | Sept. 11, 2026 | Daily |
| WSML · iShares Trust | 0.13% | 24,072 SH | Sept. 11, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.13% | 20,699 NS | July 31, 2026 | N-PORT |
| TRFM · ETF Series Solutions | 0.12% | 8,078 NS | July 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.10% | 1,576,266 SH | Sept. 11, 2026 | Daily |
| IMCB · iShares Trust | 0.10% | 45,290 SH | Sept. 11, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.09% | 492,102 NS | July 31, 2026 | N-PORT |
| VGT · VANGUARD WORLD FUND | 0.09% | 2,942,707 SH | Aug. 19, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.08% | 13,701 SH | Oct. 1, 2026 | Daily |
| IYW · iShares Trust | 0.07% | 454,295 SH | Sept. 11, 2026 | Daily |
| IGM · iShares Trust | 0.06% | 182,037 SH | Sept. 11, 2026 | Daily |
| LRND · New York Life Investments ETF Trust | 0.06% | 6,702 NS | July 31, 2026 | N-PORT |
| VONV · VANGUARD SCOTTSDALE FUNDS | 0.05% | 221,572 SH | Aug. 19, 2026 | Daily |
| VEGN · ETF Series Solutions | 0.04% | 2,142 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.04% | 26,911 NS | July 31, 2026 | N-PORT |
| ILCG · iShares Trust | 0.04% | 36,139 SH | Sept. 11, 2026 | Daily |
| IWD · iShares Trust | 0.04% | 855,979 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.03% | 19,383 SH | Sept. 30, 2026 | Daily |
| VONE · VANGUARD SCOTTSDALE FUNDS | 0.03% | 60,399 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.03% | 30,904 SH | Aug. 19, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.03% | 82,995 SH | Aug. 19, 2026 | Daily |
| GLBL · Pacer Funds Trust | 0.03% | 9 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.03% | 26,666 NS | July 31, 2026 | N-PORT |
| VOTE · TCW ETF Trust | 0.02% | 6,544 NS | July 31, 2026 | N-PORT |
| ILCB · iShares Trust | 0.02% | 7,517 SH | Sept. 11, 2026 | Daily |
| IYY · iShares Trust | 0.02% | 16,742 SH | Sept. 11, 2026 | Daily |
| IWB · iShares Trust | 0.02% | 266,364 SH | Sept. 11, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.02% | 10,668,270 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.02% | 306,790 SH | Aug. 19, 2026 | Daily |
| TOV · EA Series Trust | 0.02% | 1,183 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.02% | 506,420 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.02% | 105,621 SH | Sept. 11, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.02% | 74,032 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.02% | 59,396 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.02% | 10,042 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.02% | 91,677 NS | July 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.01% | 858 NS | July 31, 2026 | N-PORT |
| DFLV · Dimensional ETF Trust | 0.01% | 9,299 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 18,183 NS | July 31, 2026 | N-PORT |
| SMLF · iShares Trust | · | 152,105 SH | Sept. 11, 2026 | Daily |
IONQ Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
14 analysts · 2026-10-02Mean target $66.63 +52.2%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| IONQ | $16.27B | -24.7 | 201.8% | -392.6% | -24.4% | · |
| HPE | $32.19B | -610.5 | 13.8% | 0.17% | 0.23% | · |
| P | · | · | 15.6% | 5.1% | 13.6% | 70.4% |
| NTAP | $21.31B | 17.1 | 5.6% | 20.5% | 109.2% | 78.5% |
| HPQ | $25.48B | 10.4 | 3.2% | 4.6% | -311.8% | 20.6% |
| SMCI | $29.12B | 29.2 | 46.6% | 4.8% | 17.9% | 11.1% |
| GPGI | · | -15.7 | -85.8% | -227.3% | -198.9% | 48.0% |
| INFQ | · | · | · | · | 172.0% | · |
| DBD | $2.40B | 26.7 | 1.5% | 2.5% | 9.3% | 25.3% |
| QUBT | $2.30B | -93.3 | 82.8% | -2738.1% | -1.9% | 9.8% |
| CRSR | $633M | -49.5 | 11.9% | -1.1% | -2.6% | 28.9% |
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