IonQ’s growth story is just beginning. Here’s what investors should know.

Wall Street’s excitement about the potential of quantum computing soared IonQ (NYSE: IONQ) shares in 2025. Shares soared to a 52-week high of $84.64 in October.

But the situation has changed in 2026. Year to date, IonQ shares are down 14% through February 3. This creates a buying opportunity, because IonQ’s growing business is just getting started.

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Here’s a deeper look at this pure-play quantum computer company to understand the factors that make it a compelling long-term investment.

A computer processor chip with the word "quantum" inscribed on it shines on a black background. — Image source: Getty Images.

IonQ rapidly expanded its technology in recent years through strategic acquisitions. It now claims to be the only company to own a vertically integrated quantum platform. This means that their solutions span key end-to-end elements to deliver quantum technology, ranging from the fabrication of quantum computer chips to the necessary software.

And the company is not finished. In January, it added more acquisitions to its collection of companies. One is Skyloom, which strengthens IonQ’s ability to build a scalable quantum computer network.

This is no small thing. Quantum machines encode data into qubits, the fundamental units of quantum information, similar to bits in a classical computer. But qubits are fragile, so transmitting quantum data over long distances is difficult.

Skyloom, along with other acquisitions like Lightsynq, can help solve this challenge by allowing IonQ to control the entire end-to-end data flow in a quantum network.

Along with Skyloom, IonQ announced the acquisition of SkyWater technologythe largest pure-play semiconductor foundry operating exclusively in the US. The move was made to improve IonQ’s supply chain, enabling faster quantum chip manufacturing.

The other major addition in 2026 was Seed Innovations, which will help IonQ develop artificial intelligence (AI)-based software to scale quantum computer tasks through automation. Each of these acquisitions strengthens IonQ’s platform with new capabilities, as well as helping it overcome inherent industry challenges.

For example, quantum computers are delicate machines prone to calculation errors. Last year’s acquisition of Oxford Ionics, an expert in improving the accuracy of quantum calculations, helps overcome this critical blocker to widespread adoption.

In October, IonQ achieved a world record for the accuracy of its quantum machine. The company predicts that its devices will grow from supporting 256 qubits in 2026 to more than a million qubits in 2030. The higher the number of qubits, the greater the computational power of the quantum computer.

The strength of IonQ’s technology is validated by its growing sales. In the third quarter, its revenue rose 222% year over year to $39.9 million.

Despite the successes, IonQ’s stock has fallen in 2026 due in part to mounting losses. While the acquisitions build IonQ’s quantum computing suite, the costs weigh on its finances.

In the third quarter, the company’s operating expenses increased to $208.7 million compared to $65.5 million in 2024. This led to an operating loss of $168.8 million, a significant increase from the loss of $53.1 million a year earlier.

The aggravation of the problem is from the company issuance of mandates as a means of raising funds. In the third quarter of 2025, the value of these warrant liabilities caused IonQ to post an astronomical net loss of $1.1 billion, a massive jump from the $52.5 million loss in 2024.

Fortunately, IonQ has a solid balance sheet. After conducting a stock offering last July and again in October, the pure-play quantum provider had $3.5 billion in cash and equivalents and no debt as of Nov. 4.

The lack of debt is important as it means the company does not have the added cost of paying interest. This allows more revenue to go into the research needed to evolve their quantum computers.

Given its potential in the sector of quantum computingthe decline in IonQ’s share price presents a potential buying opportunity. Its stock has long been highly valued, as evidenced by its price-to-sales (P/S) ratio, which influenced the recent price drop.

IONQ PS Ratio Chart — IONQ PS relationship data for YCharts.

As the chart shows, IonQ’s sales multiple has dropped dramatically from the lofty valuation achieved in October. It’s not in trading territory yet, but given IonQ’s impressive platform and quantum computing’s potential to reshape the tech industry, now isn’t a bad time to pick up shares.

With IonQ’s technology poised to deliver the long-awaited potential of quantum computers, the company is well positioned for continued revenue growth. In fact, IonQ expects to close out 2025 with sales between $106 million and $110 million, an impressive increase from $43.1 million in 2024. And thanks to its acquisitions, the company looks poised for more growth in the coming years.

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Robert Izquierdo has positions in IonQ. The Motley Fool has positions and recommends IonQ and SkyWater technology. The Motley Fool has one disclosure policy.

IonQ’s growth story is just beginning. Here’s what investors should know. was originally published by The Motley Fool

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