What happened
IonQ (IONQ) builds trapped-ion quantum computers and is the quantum stock most widely held by Korean retail investors.
IONQIonQ·2026Q2 10-QPaidFiling score 77 · Large change
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IonQ's $1.87bn Q2 loss: $1.65bn of it is a warrant charge caused by its own share price rising
Q2 10-Q: revenue $80m (4× a year earlier), operating loss $337m. 88% of the net loss is the fair-value increase of 79m private warrants as the stock rose. The $3.05bn warrant liability equals 92% of shareholders' equity
Quantum-computing company IonQ (IONQ) reported a net loss of $1,868m for the second quarter of 2026 — 23 times its revenue of $80.1m. The statement of operations in its 10-Q shows an operating loss of $337m; the rest comes from one line, 'change in fair value of warrant liabilities'. In the first quarter the same line moved the other way and produced net income of $805m.
In plain terms
Most of IonQ's loss this quarter did not come from its business. It is a book loss recorded because rights to buy its shares, issued earlier, became more valuable. No cash left the company.
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77 Filing score · Large change
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FAQ
Where is the warrant loss disclosed?
On the statement of operations, under 'Gain (loss) on change in fair value of warrant liabilities', and in the matching balance-sheet line. The amounts are in the subscriber section.
Did cash leave the company?
No. Until warrants are exercised only the accounting value moves. When they are exercised, new shares are issued and existing holders are diluted.
Why was there net income in Q1?
The same line moved in the gain direction that quarter. Both quarters' figures are in the subscriber section.
Where can I verify these numbers?
On SEC EDGAR: IonQ's Q2 2026 Form 10-Q (accession 0001193125-26-341001), statement of operations, balance sheet and the warrant liabilities note.
How aiSwingX™ wrote this
- We read the filing on SEC EDGAR in full — statements, notes, MD&A. Press releases and news are not used as sources.
- Every figure is reconciled to its location in the filing and to XBRL data. One mismatch means no publication.
- An editor reviews before publication; any later change is recorded in the revision history.
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IonQ Form 10-Q for Q2 2026: statement of operations, balance sheet, 'Warrant Liabilities' note (fair-value measurement), 'Stock-based Compensation' note · SEC EDGAR · This article is not investment advice. Disclaimer