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Side-by-side financial comparison of IonQ, Inc. (IONQ) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
iQSTEL Inc is the larger business by last-quarter revenue ($84.2M vs $61.9M, roughly 1.4× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs -3.2%, a 1220.9% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -14.9%). iQSTEL Inc produced more free cash flow last quarter ($-1.2M vs $-83.3M).
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.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
IONQ vs IQST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $84.2M |
| Net Profit | $753.7M | $-2.7M |
| Gross Margin | — | 3.5% |
| Operating Margin | -369.4% | -2.9% |
| Net Margin | 1217.8% | -3.2% |
| Revenue YoY | 428.5% | -14.9% |
| Net Profit YoY | 473.1% | -44.5% |
| EPS (diluted) | $2.60 | $-0.92 |
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 | $84.2M | ||
| Q3 25 | $39.9M | $102.9M | ||
| Q2 25 | $20.7M | $72.2M | ||
| Q1 25 | — | $57.6M | ||
| Q4 24 | $11.7M | $98.9M | ||
| Q3 24 | $12.4M | $54.2M | ||
| Q2 24 | $11.4M | $78.6M | ||
| Q1 24 | — | $51.4M |
| Q4 25 | $753.7M | $-2.7M | ||
| Q3 25 | $-1.1B | $-2.3M | ||
| Q2 25 | $-176.8M | $-2.3M | ||
| Q1 25 | — | $-1.1M | ||
| Q4 24 | $-202.0M | $-1.9M | ||
| Q3 24 | $-52.5M | $-773.0K | ||
| Q2 24 | $-37.6M | $-2.0M | ||
| Q1 24 | — | $-580.2K |
| Q4 25 | — | 3.5% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | -369.4% | -2.9% | ||
| Q3 25 | -423.5% | -0.5% | ||
| Q2 25 | -776.0% | -0.9% | ||
| Q1 25 | — | -1.0% | ||
| Q4 24 | -661.9% | -0.3% | ||
| Q3 24 | -428.5% | -0.1% | ||
| Q2 24 | -430.0% | -0.4% | ||
| Q1 24 | — | -0.4% |
| Q4 25 | 1217.8% | -3.2% | ||
| Q3 25 | -2646.3% | -2.3% | ||
| Q2 25 | -854.5% | -3.3% | ||
| Q1 25 | — | -2.0% | ||
| Q4 24 | -1725.0% | -1.9% | ||
| Q3 24 | -423.4% | -1.4% | ||
| Q2 24 | -330.0% | -2.5% | ||
| Q1 24 | — | -1.1% |
| Q4 25 | $2.60 | $-0.92 | ||
| Q3 25 | $-3.58 | $-0.68 | ||
| Q2 25 | $-0.70 | $-0.82 | ||
| Q1 25 | — | $-0.44 | ||
| Q4 24 | $-0.95 | $-1.19 | ||
| Q3 24 | $-0.24 | $-0.40 | ||
| Q2 24 | $-0.18 | $-0.90 | ||
| Q1 24 | — | $-0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.4B | $2.2M |
| Total DebtLower is stronger | — | $4.1M |
| Stockholders' EquityBook value | $3.8B | $16.3M |
| Total Assets | $6.6B | $51.1M |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $2.2M | ||
| Q3 25 | $1.1B | $2.3M | ||
| Q2 25 | $546.9M | $2.0M | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | $340.3M | $2.5M | ||
| Q3 24 | $365.7M | $2.1M | ||
| Q2 24 | $369.8M | $797.2K | ||
| Q1 24 | — | $2.7M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $2.7M | ||
| Q2 25 | — | $4.5M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
| Q4 25 | $3.8B | $16.3M | ||
| Q3 25 | $2.3B | $17.9M | ||
| Q2 25 | $1.2B | $14.3M | ||
| Q1 25 | — | $11.6M | ||
| Q4 24 | $383.9M | $11.9M | ||
| Q3 24 | $435.7M | $8.1M | ||
| Q2 24 | $463.3M | $7.6M | ||
| Q1 24 | — | $8.4M |
| Q4 25 | $6.6B | $51.1M | ||
| Q3 25 | $4.3B | $46.9M | ||
| Q2 25 | $1.3B | $51.4M | ||
| Q1 25 | — | $42.0M | ||
| Q4 24 | $508.4M | $79.0M | ||
| Q3 24 | $497.9M | $32.4M | ||
| Q2 24 | $517.4M | $30.0M | ||
| Q1 24 | — | $22.1M |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.02× |
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 | $-74.5M | $-1.2M |
| Free Cash FlowOCF − Capex | $-83.3M | $-1.2M |
| FCF MarginFCF / Revenue | -134.6% | -1.5% |
| Capex IntensityCapex / Revenue | 14.2% | 0.0% |
| Cash ConversionOCF / Net Profit | -0.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $-1.2M | ||
| Q3 25 | $-123.1M | $-953.0K | ||
| Q2 25 | $-52.6M | $257.7K | ||
| Q1 25 | — | $-1.9M | ||
| Q4 24 | $-39.4M | $-403.7K | ||
| Q3 24 | $-19.2M | $625.0K | ||
| Q2 24 | $-26.6M | $-2.6M | ||
| Q1 24 | — | $-536.9K |
| Q4 25 | $-83.3M | $-1.2M | ||
| Q3 25 | $-127.2M | $-969.2K | ||
| Q2 25 | $-53.8M | $211.7K | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | $-43.0M | $-421.3K | ||
| Q3 24 | $-23.0M | $594.5K | ||
| Q2 24 | $-34.1M | $-2.6M | ||
| Q1 24 | — | $-608.5K |
| Q4 25 | -134.6% | -1.5% | ||
| Q3 25 | -319.1% | -0.9% | ||
| Q2 25 | -259.8% | 0.3% | ||
| Q1 25 | — | -3.4% | ||
| Q4 24 | -367.4% | -0.4% | ||
| Q3 24 | -185.3% | 1.1% | ||
| Q2 24 | -299.3% | -3.4% | ||
| Q1 24 | — | -1.2% |
| Q4 25 | 14.2% | 0.0% | ||
| Q3 25 | 10.4% | 0.0% | ||
| Q2 25 | 5.8% | 0.1% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 30.7% | 0.0% | ||
| Q3 24 | 30.4% | 0.1% | ||
| Q2 24 | 65.8% | 0.0% | ||
| 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
IONQ
| Other | $31.2M | 50% |
| Platform Consulting And Support Services | $30.7M | 50% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
