Quick Read
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IonQ stock has dropped 32% in a month to $29.70, despite posting record Q2 revenue of $80 million, up 287% year over year.
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Rigetti fell 28% and D-Wave dropped 35% over the same period, signaling a broad quantum sector selloff rather than an IonQ-specific problem.
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IonQ's $1.9 billion GAAP net loss and $1.8 billion SkyWater acquisition create integration risk that could pressure margins heading into Q3 results on November 5.
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Quantum computing stocks have spent the past month giving back ground, and IonQ (NYSE:IONQ) sits near the center of the slide. IonQ stock is down 32% over the past month, recently trading at $29.70. Shares are up 5% from the prior close, a modest bounce after a steep decline.
The selloff has hit the whole group, which suggests IonQ is moving with its sector as risk appetite for speculative technology cools off. Rigetti Computing (NASDAQ:RGTI) stock is down 28% over the past month to $10.94. Meanwhile, D-Wave Quantum (NASDAQ:QBTS) shares have slid 35% over the past month to $10.23, a steeper fall than IonQ's.
For IonQ, the pullback has come even after a strong second quarter and a string of acquisitions, leaving investors to figure out whether the slide points to lasting problems at IonQ or a correction across the whole sector.
Record Growth Gives IonQ Bulls Plenty to Point To
IonQ's Q2 2026 revenue rose 287% year over year to a record $80.1 million in results released on August 5. Excluding acquisitions, IonQ grew 132% organically. CEO Niccolo de Masi spoke on the earnings call. He said that "Q2 2026 is the strongest quarter in IonQ's history and our fifth consecutive quarter of record results."
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Management's 2026 revenue outlook for IonQ now includes the SkyWater Technology acquisition, which closed July 31, and calls for $450 million to $460 million. That $1.8 billion deal brought a semiconductor foundry in-house. On the hardware side, IonQ is developing its 256-qubit Superion system, and management plans to start commissioning those systems in 2027.
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