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Side-by-side financial comparison of American Well Corp (AMWL) and IonQ, Inc. (IONQ). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $55.3M, roughly 1.1× American Well Corp). IonQ, Inc. runs the higher net margin — 1217.8% vs -45.1%, a 1262.8% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -22.1%). American Well Corp produced more free cash flow last quarter ($-17.4M vs $-83.3M).
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IonQ, Inc. is an American quantum computing hardware and software company headquartered in College Park, Maryland. The company develops general-purpose trapped ion quantum computers and accompanying software to generate, optimize, and execute quantum circuits.
AMWL vs IONQ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.3M | $61.9M |
| Net Profit | $-24.9M | $753.7M |
| Gross Margin | — | — |
| Operating Margin | -45.5% | -369.4% |
| Net Margin | -45.1% | 1217.8% |
| Revenue YoY | -22.1% | 428.5% |
| Net Profit YoY | 41.6% | 473.1% |
| EPS (diluted) | $-1.53 | $2.60 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $55.3M | $61.9M | ||
| Q3 25 | $56.3M | $39.9M | ||
| Q2 25 | $70.9M | $20.7M | ||
| Q1 25 | $66.8M | — | ||
| Q4 24 | $71.0M | $11.7M | ||
| Q3 24 | $61.0M | $12.4M | ||
| Q2 24 | $62.8M | $11.4M | ||
| Q1 24 | $59.5M | — |
| Q4 25 | $-24.9M | $753.7M | ||
| Q3 25 | $-32.4M | $-1.1B | ||
| Q2 25 | $-19.7M | $-176.8M | ||
| Q1 25 | $-18.7M | — | ||
| Q4 24 | $-42.7M | $-202.0M | ||
| Q3 24 | $-43.5M | $-52.5M | ||
| Q2 24 | $-49.9M | $-37.6M | ||
| Q1 24 | $-72.1M | — |
| Q4 25 | -45.5% | -369.4% | ||
| Q3 25 | -52.1% | -423.5% | ||
| Q2 25 | -28.7% | -776.0% | ||
| Q1 25 | -45.5% | — | ||
| Q4 24 | -60.2% | -661.9% | ||
| Q3 24 | -77.6% | -428.5% | ||
| Q2 24 | -83.4% | -430.0% | ||
| Q1 24 | -126.1% | — |
| Q4 25 | -45.1% | 1217.8% | ||
| Q3 25 | -57.5% | -2646.3% | ||
| Q2 25 | -27.8% | -854.5% | ||
| Q1 25 | -28.0% | — | ||
| Q4 24 | -60.1% | -1725.0% | ||
| Q3 24 | -71.2% | -423.4% | ||
| Q2 24 | -79.5% | -330.0% | ||
| Q1 24 | -121.1% | — |
| Q4 25 | $-1.53 | $2.60 | ||
| Q3 25 | $-2.00 | $-3.58 | ||
| Q2 25 | $-1.24 | $-0.70 | ||
| Q1 25 | $-1.19 | — | ||
| Q4 24 | $-2.71 | $-0.95 | ||
| Q3 24 | $-2.87 | $-0.24 | ||
| Q2 24 | $-3.36 | $-0.18 | ||
| Q1 24 | $-4.94 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $182.3M | $2.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $235.6M | $3.8B |
| Total Assets | $323.8M | $6.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $182.3M | $2.4B | ||
| Q3 25 | $200.9M | $1.1B | ||
| Q2 25 | $219.1M | $546.9M | ||
| Q1 25 | $222.4M | — | ||
| Q4 24 | $228.3M | $340.3M | ||
| Q3 24 | $244.6M | $365.7M | ||
| Q2 24 | $276.9M | $369.8M | ||
| Q1 24 | $308.6M | — |
| Q4 25 | $235.6M | $3.8B | ||
| Q3 25 | $254.9M | $2.3B | ||
| Q2 25 | $282.6M | $1.2B | ||
| Q1 25 | $294.0M | — | ||
| Q4 24 | $304.8M | $383.9M | ||
| Q3 24 | $336.7M | $435.7M | ||
| Q2 24 | $363.9M | $463.3M | ||
| Q1 24 | $408.7M | — |
| Q4 25 | $323.8M | $6.6B | ||
| Q3 25 | $359.4M | $4.3B | ||
| Q2 25 | $388.7M | $1.3B | ||
| Q1 25 | $419.5M | — | ||
| Q4 24 | $436.0M | $508.4M | ||
| Q3 24 | $483.0M | $497.9M | ||
| Q2 24 | $507.8M | $517.4M | ||
| Q1 24 | $548.4M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-17.4M | $-74.5M |
| Free Cash FlowOCF − Capex | $-17.4M | $-83.3M |
| FCF MarginFCF / Revenue | -31.4% | -134.6% |
| Capex IntensityCapex / Revenue | 0.0% | 14.2% |
| Cash ConversionOCF / Net Profit | — | -0.10× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-307.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-17.4M | $-74.5M | ||
| Q3 25 | $-18.8M | $-123.1M | ||
| Q2 25 | $-4.7M | $-52.6M | ||
| Q1 25 | $-25.1M | — | ||
| Q4 24 | $-13.4M | $-39.4M | ||
| Q3 24 | $-32.4M | $-19.2M | ||
| Q2 24 | $-21.8M | $-26.6M | ||
| Q1 24 | $-59.8M | — |
| Q4 25 | $-17.4M | $-83.3M | ||
| Q3 25 | — | $-127.2M | ||
| Q2 25 | — | $-53.8M | ||
| Q1 25 | $-25.1M | — | ||
| Q4 24 | $-13.4M | $-43.0M | ||
| Q3 24 | $-32.4M | $-23.0M | ||
| Q2 24 | $-21.8M | $-34.1M | ||
| Q1 24 | $-59.8M | — |
| Q4 25 | -31.4% | -134.6% | ||
| Q3 25 | — | -319.1% | ||
| Q2 25 | — | -259.8% | ||
| Q1 25 | -37.6% | — | ||
| Q4 24 | -18.9% | -367.4% | ||
| Q3 24 | -53.0% | -185.3% | ||
| Q2 24 | -34.7% | -299.3% | ||
| Q1 24 | -100.5% | — |
| Q4 25 | 0.0% | 14.2% | ||
| Q3 25 | 0.0% | 10.4% | ||
| Q2 25 | 0.0% | 5.8% | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | 30.7% | ||
| Q3 24 | 0.0% | 30.4% | ||
| Q2 24 | 0.0% | 65.8% | ||
| Q1 24 | 0.1% | — |
| Q4 25 | — | -0.10× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMWL
| Platform Subscription | $28.8M | 52% |
| Visits | $23.7M | 43% |
| Others | $2.8M | 5% |
IONQ
| Other | $31.2M | 50% |
| Platform Consulting And Support Services | $30.7M | 50% |
