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Side-by-side financial comparison of FLYEXCLUSIVE INC. (FLYX) and IonQ, Inc. (IONQ). Click either name above to swap in a different company.
FLYEXCLUSIVE INC. is the larger business by last-quarter revenue ($92.1M vs $61.9M, roughly 1.5× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs -4.6%, a 1222.4% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 19.8%). FLYEXCLUSIVE INC. produced more free cash flow last quarter ($-11.0M vs $-83.3M).
FLYEXCLUSIVE INC. is a U.S.-headquartered private aviation services provider that offers private jet charter, aircraft management, maintenance repair, and fractional ownership programs. It primarily serves high-net-worth individuals, corporate clients, and government entities across North America, delivering personalized on-demand air travel solutions prioritizing safety and convenience.
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.
FLYX vs IONQ — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $92.1M | $61.9M |
| Net Profit | $-4.3M | $753.7M |
| Gross Margin | 13.7% | — |
| Operating Margin | -12.3% | -369.4% |
| Net Margin | -4.6% | 1217.8% |
| Revenue YoY | 19.8% | 428.5% |
| Net Profit YoY | 32.0% | 473.1% |
| EPS (diluted) | $-0.25 | $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 | — | $61.9M | ||
| Q3 25 | $92.1M | $39.9M | ||
| Q2 25 | $91.3M | $20.7M | ||
| Q1 25 | $88.1M | — | ||
| Q4 24 | — | $11.7M | ||
| Q3 24 | $76.9M | $12.4M | ||
| Q2 24 | $79.0M | $11.4M | ||
| Q1 24 | $80.0M | — |
| Q4 25 | — | $753.7M | ||
| Q3 25 | $-4.3M | $-1.1B | ||
| Q2 25 | $-4.8M | $-176.8M | ||
| Q1 25 | $-5.4M | — | ||
| Q4 24 | — | $-202.0M | ||
| Q3 24 | $-6.3M | $-52.5M | ||
| Q2 24 | $-5.2M | $-37.6M | ||
| Q1 24 | $-5.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | 13.7% | — | ||
| Q2 25 | 15.0% | — | ||
| Q1 25 | 12.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 11.3% | — | ||
| Q2 24 | 7.9% | — | ||
| Q1 24 | 7.2% | — |
| Q4 25 | — | -369.4% | ||
| Q3 25 | -12.3% | -423.5% | ||
| Q2 25 | -13.5% | -776.0% | ||
| Q1 25 | -16.7% | — | ||
| Q4 24 | — | -661.9% | ||
| Q3 24 | -27.2% | -428.5% | ||
| Q2 24 | -27.6% | -430.0% | ||
| Q1 24 | -34.3% | — |
| Q4 25 | — | 1217.8% | ||
| Q3 25 | -4.6% | -2646.3% | ||
| Q2 25 | -5.2% | -854.5% | ||
| Q1 25 | -6.2% | — | ||
| Q4 24 | — | -1725.0% | ||
| Q3 24 | -8.2% | -423.4% | ||
| Q2 24 | -6.5% | -330.0% | ||
| Q1 24 | -7.3% | — |
| Q4 25 | — | $2.60 | ||
| Q3 25 | $-0.25 | $-3.58 | ||
| Q2 25 | $-0.26 | $-0.70 | ||
| Q1 25 | $-0.30 | — | ||
| Q4 24 | — | $-0.95 | ||
| Q3 24 | $-0.32 | $-0.24 | ||
| Q2 24 | $-0.32 | $-0.18 | ||
| Q1 24 | $-0.35 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $18.7M | $2.4B |
| Total DebtLower is stronger | $123.9M | — |
| Stockholders' EquityBook value | $-434.2M | $3.8B |
| Total Assets | $448.1M | $6.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.4B | ||
| Q3 25 | $18.7M | $1.1B | ||
| Q2 25 | $15.8M | $546.9M | ||
| Q1 25 | $14.7M | — | ||
| Q4 24 | — | $340.3M | ||
| Q3 24 | $18.7M | $365.7M | ||
| Q2 24 | $9.3M | $369.8M | ||
| Q1 24 | $5.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | $123.9M | — | ||
| Q2 25 | $111.6M | — | ||
| Q1 25 | $121.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $197.9M | — | ||
| Q2 24 | $206.3M | — | ||
| Q1 24 | $209.4M | — |
| Q4 25 | — | $3.8B | ||
| Q3 25 | $-434.2M | $2.3B | ||
| Q2 25 | $-261.4M | $1.2B | ||
| Q1 25 | $-281.5M | — | ||
| Q4 24 | — | $383.9M | ||
| Q3 24 | $-192.0M | $435.7M | ||
| Q2 24 | $-149.7M | $463.3M | ||
| Q1 24 | $-149.5M | — |
| Q4 25 | — | $6.6B | ||
| Q3 25 | $448.1M | $4.3B | ||
| Q2 25 | $443.4M | $1.3B | ||
| Q1 25 | $466.8M | — | ||
| Q4 24 | — | $508.4M | ||
| Q3 24 | $487.1M | $497.9M | ||
| Q2 24 | $494.7M | $517.4M | ||
| Q1 24 | $524.1M | — |
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 | $-209.0K | $-74.5M |
| Free Cash FlowOCF − Capex | $-11.0M | $-83.3M |
| FCF MarginFCF / Revenue | -12.0% | -134.6% |
| Capex IntensityCapex / Revenue | 11.7% | 14.2% |
| Cash ConversionOCF / Net Profit | — | -0.10× |
| TTM Free Cash FlowTrailing 4 quarters | $-51.0M | $-307.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-74.5M | ||
| Q3 25 | $-209.0K | $-123.1M | ||
| Q2 25 | $363.0K | $-52.6M | ||
| Q1 25 | $-10.5M | — | ||
| Q4 24 | — | $-39.4M | ||
| Q3 24 | $-12.3M | $-19.2M | ||
| Q2 24 | $-16.2M | $-26.6M | ||
| Q1 24 | $-26.0M | — |
| Q4 25 | — | $-83.3M | ||
| Q3 25 | $-11.0M | $-127.2M | ||
| Q2 25 | $353.0K | $-53.8M | ||
| Q1 25 | $-14.6M | — | ||
| Q4 24 | — | $-43.0M | ||
| Q3 24 | $-25.7M | $-23.0M | ||
| Q2 24 | $-26.6M | $-34.1M | ||
| Q1 24 | $-64.5M | — |
| Q4 25 | — | -134.6% | ||
| Q3 25 | -12.0% | -319.1% | ||
| Q2 25 | 0.4% | -259.8% | ||
| Q1 25 | -16.5% | — | ||
| Q4 24 | — | -367.4% | ||
| Q3 24 | -33.5% | -185.3% | ||
| Q2 24 | -33.7% | -299.3% | ||
| Q1 24 | -80.6% | — |
| Q4 25 | — | 14.2% | ||
| Q3 25 | 11.7% | 10.4% | ||
| Q2 25 | 0.0% | 5.8% | ||
| Q1 25 | 4.7% | — | ||
| Q4 24 | — | 30.7% | ||
| Q3 24 | 17.5% | 30.4% | ||
| Q2 24 | 13.2% | 65.8% | ||
| Q1 24 | 48.2% | — |
| 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
FLYX
Segment breakdown not available.
IONQ
| Other | $31.2M | 50% |
| Platform Consulting And Support Services | $30.7M | 50% |
