IonQ Stock: Quantum Player Lands Spot on $151B Defense Contract

TLDR

• IonQ secured a spot on the Missile Defense Agency’s SHIELD IDIQ contract, which has a $151 billion ceiling.
• IonQ is one of more than 2,400 companies eligible to compete — no funding or work is guaranteed.
• The stock rose 1.4% in after-hours trading but was down 3.51% on the day, trading at $30.78.
• Full-year revenue is expected at the high end or above the $106–110 million guidance range.
• A $1.8 billion acquisition of SkyWater Technology is planned for Q2 or Q3 2026.

IonQ picked up a contract position under the Missile Defense Agency’s Scalable Homeland Innovative Enterprise Layered Defense — SHIELD — indefinite-delivery/indefinite-quantity framework on Monday.

The contract carries a $151 billion ceiling and covers a broad range of defense work areas. IonQ is one of more than 2,400 companies now eligible to compete for individual task orders under it.

IonQ, Inc., IONQ

Being on the contract is the starting line, not the finish. Actual work and revenue only come from winning specific task orders through competitive selection. Nothing is guaranteed at this stage.

IonQ stock rose 1.4% in after-hours trading on the news. The stock had been down 3.51% earlier in the session, trading at $30.78, with a market cap of $10.95 billion.

What IonQ Brings to the Table

IonQ’s portfolio spans quantum computing, networking, sensing, and security. Subsidiaries add further depth — Capella Space handles synthetic aperture radar imagery, Skyloom covers optical communications, and Vector Atomic focuses on precision timing and navigation for GPS-degraded environments.

The company has prior government ties, having worked with DARPA and the U.S. Air Force Research Laboratory on research and development projects.

Revenue Growing, Losses Continuing

IonQ posted $79.84 million in revenue over the last twelve months, up 113% year over year. The company remains unprofitable despite that pace.

Full-year revenue is expected to come in at the high end or above its $106–110 million guidance range, beating estimates from both Cantor Fitzgerald and FactSet. Cantor Fitzgerald kept its Overweight rating and $70 price target on the stock.

IonQ completed its acquisition of Skyloom Global Corp. and has a $1.8 billion deal for SkyWater Technology in the pipeline. That deal — at $15 cash and $20 in stock per share, a 38% premium — is expected to close in Q2 or Q3 2026.

The company has faced pressure from a Wolf Pack short seller report alleging lost Pentagon funding and insider stock sales totaling $396.6 million. IonQ has continued its acquisition strategy through the scrutiny.

InvestingPro flagged the stock as overvalued relative to its Fair Value estimate.

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