IonQ NYSE: IONQ reported what executives described as the strongest quarter in the company’s history, citing record revenue, a sharply higher backlog metric and continued demand across its quantum computing, networking, sensing and security products. On the company’s first-quarter 2026 earnings call, Chairman and Chief Executive Officer Niccolo de Masi said IonQ delivered $64.7 million in GAAP revenue, more than eight times the level recorded in the same period a year earlier. Chief Operating Officer and Chief Financial Officer Inder Singh said revenue grew 755% year over year and exceeded the company’s guidance by more than 30%. “We have delivered the biggest quarter in IonQ history thus far,” de Masi said, adding that results were supported by “accelerating global quantum computing system sales, increasing high-margin cloud utilization, and deepening application layer partnerships with our enterprise customers.” IonQ Raises 2026 Revenue Outlook IonQ raised its full-year 2026 revenue guidance to a range of $260 million to $270 million. Singh said even the low end of the range would more than double the company’s year-over-year revenue. For the second quarter, IonQ projected revenue of $65 million to $68 million. The company also reaffirmed its full-year 2026 adjusted EBITDA outlook of a loss between $310 million and $330 million. First-quarter adjusted EBITDA was a loss of $96.8 million, including about $12 million of expenses tied to IonQ’s commercial agreement with SkyWater for ion trap fabrication. Excluding that spending, Singh said adjusted EBITDA would have been a loss of about $85 million. IonQ reported $805.4 million in GAAP net income for the quarter, which Singh said was mainly due to an approximately $1.1 billion mark-to-market warrant valuation. He emphasized that the warrant impact was non-cash and “does not represent the operating performance of our business.” The company ended the quarter with $3.1 billion in