IonQ’s first direct control of chip manufacturing adds U.S.-based foundry capacity ahead of an Aug. 5 earnings report that investors will watch for integration costs and roadmap updates.
IonQ has closed its acquisition of SkyWater Technology, giving the quantum computing company direct control of chip manufacturing for the first time as it pushes toward fault-tolerant systems and a more vertically integrated business model. SkyWater will remain a wholly owned subsidiary led by Thomas Sonderman, who will report to IonQ CEO Niccolo de Masi, while continuing to serve existing foundry customers. Under the deal terms, SkyWater shareholders will receive $15.00 in cash and 0.4883 shares of IonQ common stock for each share they hold. IonQ says the transaction, which received final regulatory approval this week, strengthens its domestic supply chain and positions SkyWater as the manufacturing backbone for next-generation quantum processors, while preserving its role as an exclusively U.S.-based semiconductor foundry and trusted Department of Defense supplier. The closing comes ahead of IonQ’s second-quarter earnings call after the U.S. market closes on Aug. 5 and an investor day on Sept. 8, when management is expected to discuss the financial impact of integrating SkyWater. Wall Street expects IonQ to report a loss per share of $0.54 on revenue of $66.58 million, implying roughly 222% year-over-year revenue growth. The acquisition adds to a broader expansion drive that includes Oxford Ionics and id Quantique, extending IonQ beyond quantum hardware into chip-oriented quantum computing and quantum-safe cybersecurity. IonQ reported first-quarter 2026 revenue of $64.7 million, up 755% from a year earlier, raised full-year revenue guidance to $260 million to $270 million, and said remaining performance obligations reached a record $470 million. The company held $3.1 billion in cash, cash equivalents and investments, alongside negative operating cash flow of $151 million in the first quarter and adjusted EBITDA loss guidance of $310 million to $330 million for the year.