As of Q4'25, IONQ reported an Operating Cash Flow of -74.51M USD and a Free Cash Flow of -83.30M USD, both reflecting significant negative cash flows for the latest quarter. These figures indicate continued cash outflows, with Free Cash Flow showing a larger deficit compared to Operating Cash Flow. Over the period from Q1'23 to Q4'25, both Operating and Free Cash Flow have exhibited a generally worsening trend, with notable spikes in negative cash flow in Q3'25 (-123.08M USD for Operating, -128.28M USD for Free). While there are occasional quarters with slight improvements, the overall trajectory is downward, suggesting increasing cash burn and potential pressure on liquidity. The persistent and growing negative cash flows highlight the company's ongoing investment or operational challenges throughout the observed timeframe.