IonQ (IONQ) Gross Margin (2021 - 2026)
IonQ's Gross Margin was 24.91% in Q2 2026, down 34.85 percentage points from 59.76% a year earlier but up 1.07 percentage points from the prior quarter.
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Analysis
IonQ (IONQ) Gross Margin (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, IonQ's Gross Margin was 29.32% through Jun 30, 2026, down 24.47 percentage points year-over-year; for FY2025, it came in at 40.40%, down 11.78 percentage points from FY2024.
- Gross Margin has now declined for three consecutive years, with a four-year change of -10.05 percentage points (FY2021 to FY2025).
- In earlier years, Gross Margin was 52.18% in FY2024 (-11.03 pp), 63.22% in FY2023 (-10.34 pp), 73.55% in FY2022 (+23.10 pp) and 50.45% in FY2021.
- Quarterly Gross Margin has moved between -0.43% (Q3 2021) and 81.92% (Q4 2021) over five years.
- Compared with a year earlier, Gross Margin has declined for four straight quarters, with an average year-over-year change of -12.01 percentage points over the last eight quarters.
- The best year-over-year quarter for Gross Margin over five years was Q2 2022 (a gain of 323.16 percentage points); the worst was Q2 2026 (a drop of 34.85 percentage points).
- Per Business Quant data, IONQ's Gross Margin in the three quarters before Q2 2026 was 23.84% (Q1 2026), 29.56% (Q4 2025) and 46.69% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 319.55 Bn | 304.63 Bn | 2.30 Bn | 67.57% |
| 2 | CrowdStrike Holdings | 265.46 Bn | 245.90 Bn | 1.10 Bn | 74.57% |
| 3 | Fortinet | 129.36 Bn | 115.29 Bn | 1.64 Bn | 80.24% |
| 4 | Snowflake | 115.65 Bn | 102.97 Bn | 1.04 Bn | 67.02% |
| 5 | Datadog | 96.45 Bn | 78.09 Bn | 881.34 Mn | 78.59% |
| 6 | Axon Enterprise | 34.50 Bn | 29.03 Bn | 546.45 Mn | 60.42% |
| 7 | Okta | 33.79 Bn | 23.89 Bn | 641.00 Mn | 79.63% |
| 8 | Zscaler | 32.51 Bn | 18.63 Bn | - | - |
| 9 | Baidu | 29.59 Bn | -44.04 Bn | 1.47 Mn | 0.03% |
| 10 | IonQ | 16.98 Bn | 9.36 Bn | 19.94 Mn | 24.91% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 24.91% |
| Mar 31, 2026 | 23.84% |
| Dec 31, 2025 | 29.56% |
| Sep 30, 2025 | 46.69% |
| Jun 30, 2025 | 59.76% |
| Mar 31, 2025 | 42.97% |
| Dec 31, 2024 | 56.92% |
| Sep 30, 2024 | 47.46% |
| Jun 30, 2024 | 50.59% |
| Mar 31, 2024 | 54.97% |
| Dec 31, 2023 | 48.20% |
| Sep 30, 2023 | 67.28% |
| Jun 30, 2023 | 65.53% |
| Mar 31, 2023 | 75.82% |
| Dec 31, 2022 | 76.33% |
| Sep 30, 2022 | 73.47% |
| Jun 30, 2022 | 71.55% |
| Mar 31, 2022 | 70.92% |
| Dec 31, 2021 | 81.92% |
| Sep 30, 2021 | -0.43% |
API Access
IonQ Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=IONQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "IONQ", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=IONQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();