IonQ (IONQ) shares jumped more than 15% on Monday as investors digested a blockbuster earnings report, a raised outlook, and progress on the company's planned acquisition of SkyWater Technology. The stock was trading at $56.75 at publication time, up 15.25%.
IonQ Stock Surges 15% After Blowout Earnings and SkyWater Merger Progress
MarketDash
IonQ shares jumped Monday as investors cheered Q1 revenue that grew 755% year-over-year and a raised full-year outlook. The quantum computing company also moved closer to closing its SkyWater acquisition.
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Revenue Skyrockets, Guidance Raised
IonQ reported first-quarter 2026 revenue of $64.7 million — a 755% increase from the same period last year. The company also raised its full-year revenue guidance to between $260 million and $270 million. Remaining performance obligations hit $470 million, up 554% year-over-year, signaling strong future demand. The adjusted EBITDA loss widened to $96.8 million, but investors seemed focused on the top-line growth and the massive jump in backlog.
SkyWater Merger Moves Forward
In a separate development, SkyWater Technology (SKYT) announced that its stockholders approved the previously announced merger agreement with IonQ. The transaction is expected to close in the second or third quarter of 2026, subject to regulatory approvals and customary closing conditions. The deal is a key part of IonQ's strategy to vertically integrate its quantum computing hardware manufacturing.
Supporting Sustainable Urban Growth
IonQ is also lending its quantum computing muscle to a new initiative called the Harmonious Urban Growth program. This three-year partnership between The King's Foundation and FormationQ aims to help cities plan sustainable expansion using quantum optimization and computational modeling. IonQ's trapped-ion quantum systems will be used to support planning decisions involving transportation, infrastructure, and ecological development. The program builds on The King's Foundation's Rapid Planning Toolkit, previously piloted in Sierra Leone, and includes expertise from urban planning consultancy Space Syntax.
Short Interest Creeps Higher
Short interest in IonQ increased to 84.03 million shares from 80.93 million in the latest reporting period, now representing 23.65% of the company's public float. Based on average daily trading volume of 29.59 million shares, it would take short sellers about 2.84 days to cover their positions. The elevated short interest suggests a significant number of bears are betting against the stock, but the recent price surge may be squeezing some of them.
Technical Analysis: Momentum Building
IonQ stock traded at 23.5% above its 20-day simple moving average of $44.57, reflecting strong upward momentum. The MACD remains above its signal line, indicating that downside pressure is easing and momentum is improving — a potentially bullish setup. The stock has key support near $52.50, where buyers previously stepped in, and remains well above the 200-day SMA of $46.64, signaling a strong upward trend.
What's Next: Earnings and Analyst Views
IonQ is expected to report its next quarterly results on August 5, 2026. Analysts are forecasting a loss of 58 cents per share (improving from a loss of 70 cents a year ago) and revenue of $66.49 million (up from $20.69 million). The stock trades at a lofty P/E of 126.3x, reflecting its premium valuation as a high-growth quantum computing play.
The analyst consensus is a Buy, with an average price target of $67.00. Recent moves include:
- JPMorgan: Neutral, raised forecast to $50.00 (May 7)
- Wedbush: Outperform, raised forecast to $75.00 (May 7)
- Wedbush: Outperform, maintained forecast at $60.00 (May 4)
With revenue growing at triple-digit rates, a major acquisition on the horizon, and quantum computing increasingly in the spotlight, IonQ is a stock that's hard to ignore — even if the valuation makes value investors wince.
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