IonQ (IONQ +0.02%) is the first, and currently the largest, pure-play quantum computing company. It's unique for using a trapped-ion approach, which allows for room-temperature quantum systems and high accuracy.
Quantum computing stocks started taking off last year. Even after a recent dip, IonQ stock is still up 357% (as of Nov. 28). As a hot company in an emerging industry, IonQ looks like a potential millionaire maker -- but that might be overly optimistic.
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The numbers behind IonQ
Like other companies that focus solely on quantum computing, IonQ is currently losing money. It reported a net loss of $1.3 billion over the first three quarters of 2025. Revenue is rising, though. It was up 222% year over year to $40 million in Q3, and IonQ is expecting to finish the year with $106 million to $110 million in revenue.
The problem is that IonQ currently has a market cap of $17.5 billion and is trading at 153 times trailing earnings. You already need to pay a hefty premium to invest in this company.
NYSE: IONQ
Key Data Points
Chairman and CEO Peter Chapman said at the start of the year that he expects IonQ to reach profitability and approach $1 billion in revenue by 2030. Those would be encouraging results for investors, but they wouldn't necessarily lead to 50-fold or 100-fold growth in IonQ stock, considering its extremely high valuation.
IonQ probably won't turn a $1,000, $10,000, or even a $20,000 investment into $1 million by 2030. It could potentially outperform the market, especially if it becomes profitable and reaches internal revenue expectations. Those are big "ifs," and this is still a speculative stock, so it's best to invest with caution.
