In the latest quarter Q1'26, IONQ's Gross Margin stands at 23.8%, reflecting a continued decline from the previous period. Operating Margin remains negative at -4.2%, indicating ongoing operational losses despite some quarterly fluctuations. Notably, Net Profit Margin has improved to 12.5%, marking sustained profitability after turning positive in Q4'25. Over the period from Q2'23 to Q1'26, Gross Margin has exhibited volatility, peaking at 67.3% in Q3'23 before trending downward to its current low, with an overall average around 50%. Operating Margin has consistently been negative, ranging from -3.7% to -10.0%, showing gradual improvement in recent quarters but persistent challenges in cost management. Net Profit Margin displays the most dramatic shift, starting deeply negative at -7.9% and deteriorating to -26.5% in Q3'25, before a sharp recovery to positive territory in Q4'25 and Q1'26, suggesting effective strategies in revenue growth or expense control driving recent gains.