IonQ vs Quantum
Quantum is the larger business, with $280m of revenue in fiscal 2026 against $130m for IonQ (2.2 times as much). IonQ grew faster (201.9% against 2.0%). Quantum kept more of each dollar of sales as profit: a net margin of -36.1% against -392.6%.
| Latest fiscal year | IonQIONQ, 2025 | QuantumQMCO, 2026 |
|---|---|---|
| Revenue | $130m | $280m |
| Revenue growth | 201.9% | 2.0% |
| Net income | −$510m | −$101m |
| Operating margin | — | -8.8% |
| Net margin | -392.6% | -36.1% |
| Return on equity | -24.4% | — |
| Free cash flow | −$300m | −$39.6m |
| Cash | $1.03bn | $15.6m |
| Total debt | $0 | $145m |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $11.39bn | $702m |
| Price vs our value range | — | — |
| Moat score | 12 (Weak) | 50 (Moderate) |
| Insider trades, 12 months | 2 buys, 12 sales | 0 buys, 4 sales |