Can IonQ's New Acquisitions Propel It Toward Quantum Supremacy?

IonQ IONQ is taking decisive steps to reshape the quantum landscape by leveraging acquisitions that strengthen both its computing power and quantum networking infrastructure. In first-quarter 2025, the company unveiled two acquisitions—Lightsynq and Capella—that could accelerate its journey toward scalable quantum systems and global quantum networks.

Lightsynq, a spinout from Harvard researchers, brings industry-leading quantum memory and repeater technologies that are vital for long-distance entanglement and scalable quantum interconnects. This technology addresses one of the central limitations in current quantum architectures—how to connect quantum processors reliably over large distances. By enabling photonic interconnects and distributed computing, Lightsynq’s IP portfolio positions IonQ to scale toward millions of qubits, a milestone often associated with quantum supremacy.

Meanwhile, Capella adds expertise in space-based quantum communication, including QKD (quantum key distribution) systems and satellite-to-ground signal platforms. This expansion into orbital quantum networking represents a bold move toward building a quantum-secure Internet—an area where China and Europe are already investing heavily. Capella also brings military-grade engineering, government relationships, and defense revenue potential, deepening IonQ’s relevance in geopolitically sensitive applications.

IonQ ended the first quarter with nearly $700 million in cash and reaffirmed its revenue guidance, depicting its confidence in its financial goals. Though losses widened due to R&D and integration expenses, the company remains focused on long-term ecosystem control.

Upon achievement, these acquisitions may solidify IonQ’s dominance in both computation and connectivity, which are the two pillars of next-generation quantum systems, pushing it closer to commercial quantum leadership.

Peers Advancing in Quantum Leadership

As IonQ advances through strategic acquisitions, rivals like D-Wave Quantum Inc. QBTS and Rigetti Computing, Inc. RGTI are also vying for quantum leadership through differentiated approaches. D-Wave focuses on quantum annealing, targeting optimization problems with real-world commercial applications in logistics and machine learning. Unlike IonQ’s trapped-ion and networking-centric roadmap, D-Wave emphasizes a practical, near-term value proposition through its Advantage system and annealing quantum cloud services.

Rigetti, on the other hand, pursues superconducting qubit architectures and is investing heavily in scaling multi-qubit systems with improved coherence times and error correction. The company’s Aspen series aims to challenge gate-based quantum rivals like IonQ with a modular chip design approach. While IonQ integrates networking, memory, and compute in a vertically unified vision, both D-Wave and Rigetti are betting on domain specialization and technical agility. Each firm’s path reflects the industry’s diverse bets on how quantum supremacy will ultimately be achieved.

IONQ’s Price Performance, Valuation and Estimates

IonQ shares have gained 66.8% in the past three months, outperforming the Zacks Computer - Integrated Systems industry. 
 

IONQ stock is currently trading at a premium compared with the industry peers, with a forward 12-month price-to-sales ratio of 92.72X. 
 

IonQ’s loss per share estimates for 2025 and 2026 have narrowed in the past 60 days to 47 cents and 59 cents, respectively. The estimated figures for 2025 indicate an improvement from the year-ago figure of $1.56.
 

IonQ currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research