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Upturn AI Summary - About
IONQ Inc(IONQ)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for IONQ
10/28/2026: IONQ (3-star) is currently NOT-A-BUY. Pass it for now.
IONQ Inc is a U.S.-based, pure-play leader in quantum computing, specializing in trapped-ion hardware and full-stack platform services. The company has demonstrated exceptional revenue growth and recently secured a vertically integrated model through the acquisition of SkyWater Technology. Its core strength lies in its high-fidelity trapped-ion systems and widespread cloud availability, providing a tangible path to solving complex optimization and simulation problems. However, IONQ faces significant execution risk in scaling its hardware, along with high cash burn and stiff competition from larger tech incumbents. It is best suited for growth-oriented investors with a high risk tolerance who are looking for exposure to the long-term potential of the quantum economy and should monitor technical milestones closely.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Strong fit | The company demonstrates hyper-growth revenue metrics and captures a leading role in an early-stage, transformative technology market. |
| Momentum investor | Strong fit while signal remains positive | High volatility and sensitivity to market sentiment regarding the quantum computing sector provide frequent trading windows. |
| Value investor | Weak fit | The stock trades at a high price-to-sales multiple and is not yet profitable, making it unappealing under traditional value criteria. |
| Dividend investor | Weak fit | The company retains all earnings for capital expenditure and provides no dividend yield. |
| Low-risk investor | Weak fit | High operational risks, execution uncertainty, and extreme stock price volatility are unsuitable for conservative portfolios. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The speculative nature of the quantum sector causes significant price swings based on news cycles and market sentiment. |
| Valuation risk | High | High forward-looking valuation multiples require flawless execution and sustained revenue growth to justify current market cap. |
| Competition risk (AI/Quantum) | Medium / high | Incumbent tech giants like IBM and well-funded emerging peers pose a constant challenge to market share and technical leadership. |
| Business quality | Medium | While the technology is breakthrough-driven, the company is still proving its path to sustainable, long-term profitability. |
| Dividend income | Low / none | Investors should expect zero income contribution from this equity. |
| Execution risk | High | The company must successfully integrate its multiple recent acquisitions while hitting ambitious technical milestones for its 256-qubit system. |
Price Behavior
Rolling Over
The price momentum is slowing down and beginning to turn downward.
Extreme Price Shocks
The stock has experienced exceptionally large and disruptive price movements during the period.
Analysis of Past Performance
Type Stock | Historic Profit 341.03% | Avg. Invested days 32 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  4.0 | Stock Returns Performance  5.0 |
| Profits based on simulation | Last Close 10/28/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 14.15B USD | Price to earnings Ratio - | 1Y Target Price 64.06 |
Price to earnings Ratio - | 1Y Target Price 64.06 | ||
Volume (30-day avg) 24.9M shares | Beta 3.36 | 52 Weeks Range 25.89 - 73.65 | Updated Date 10/28/2026 |
52 Weeks Range 25.89 - 73.65 | Updated Date 10/28/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -3.43 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Quantum Computing-as-a-Service (QaaS) | Cloud access revenue via AWS, Azure, and Google Cloud, plus direct API sales. | This is the core, recurring revenue engine as customers use IonQ's computers remotely. |
| Enterprise & Government Contracts | Dedicated on-premises system deployments and long-term project development work. | Provides larger, lump-sum contracts that signal long-term industry adoption. |
| Foundry & Semiconductor Services | Manufacturing services via the newly integrated SkyWater Technology subsidiary. | Diversifies income by serving non-quantum chip customers, stabilizing the revenue base. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Geography
Geography revenue - Year on Year
Valuation
Trailing PE - | Forward PE - | Enterprise Value 12.08B | Price to Sales(TTM) 57.41 |
Enterprise Value 12.08B | Price to Sales(TTM) 57.41 | ||
Enterprise Value to Revenue 45.21 | Enterprise Value to EBITDA -10.33 | Shares Outstanding 429.41M | Shares Floating 378.38M |
Shares Outstanding 429.41M | Shares Floating 378.38M | ||
Percent Insiders 0.66 | Percent Institutions 47 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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