IonQ’s Q1 2026 revenue reached $64.7 million, up 755% from $7.6 million a year earlier, extending a sharp climb from $20.7 million in Q2 2025 and $61.9 million in Q4 2025.
That growth came from a small base and still left IonQ with a 24% gross margin and a $271.5 million operating loss, underscoring how heavily it is spending to build out quantum computing.
AMD reported $10.3 billion in fiscal Q1 revenue, up 38% from $7.4 billion a year earlier, while posting a 14% net income margin and $1.5 billion in operating income.
The contrast highlights scale as much as growth: AMD’s AI and semiconductor business is far larger and more mature, while IonQ’s faster expansion carries a much richer valuation—about 62 times sales versus AMD’s 21.