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Side-by-side financial comparison of IonQ, Inc. (IONQ) and Inspirato Inc (ISPO). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $55.5M, roughly 1.1× Inspirato Inc). IonQ, Inc. runs the higher net margin — 1217.8% vs -8.1%, a 1225.9% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -19.6%). Inspirato Inc produced more free cash flow last quarter ($-3.0M 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.
Inspirato Inc is a luxury travel and hospitality subscription service provider catering primarily to high-net-worth consumers across North America. It offers curated premium villa rentals, exclusive resort access, customized trip planning, and corporate travel incentive solutions for enterprise clients.
IONQ vs ISPO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $55.5M |
| Net Profit | $753.7M | $-4.5M |
| Gross Margin | — | 31.4% |
| Operating Margin | -369.4% | -8.0% |
| Net Margin | 1217.8% | -8.1% |
| Revenue YoY | 428.5% | -19.6% |
| Net Profit YoY | 473.1% | -204.4% |
| EPS (diluted) | $2.60 | $-0.36 |
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 | $39.9M | $55.5M | ||
| Q2 25 | $20.7M | $63.1M | ||
| Q1 25 | — | $65.9M | ||
| Q4 24 | $11.7M | $63.1M | ||
| Q3 24 | $12.4M | $69.1M | ||
| Q2 24 | $11.4M | $67.4M | ||
| Q1 24 | — | $80.2M |
| Q4 25 | $753.7M | — | ||
| Q3 25 | $-1.1B | $-4.5M | ||
| Q2 25 | $-176.8M | $-5.3M | ||
| Q1 25 | — | $1.6M | ||
| Q4 24 | $-202.0M | $-2.3M | ||
| Q3 24 | $-52.5M | $4.3M | ||
| Q2 24 | $-37.6M | $-8.7M | ||
| Q1 24 | — | $1.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | 31.4% | ||
| Q2 25 | — | 27.5% | ||
| Q1 25 | — | 38.8% | ||
| Q4 24 | — | 34.7% | ||
| Q3 24 | — | 71.5% | ||
| Q2 24 | — | 24.0% | ||
| Q1 24 | — | 39.5% |
| Q4 25 | -369.4% | — | ||
| Q3 25 | -423.5% | -8.0% | ||
| Q2 25 | -776.0% | -8.3% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | -661.9% | -3.2% | ||
| Q3 24 | -428.5% | 9.8% | ||
| Q2 24 | -430.0% | -22.8% | ||
| Q1 24 | — | 3.0% |
| Q4 25 | 1217.8% | — | ||
| Q3 25 | -2646.3% | -8.1% | ||
| Q2 25 | -854.5% | -8.4% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | -1725.0% | -3.6% | ||
| Q3 24 | -423.4% | 6.3% | ||
| Q2 24 | -330.0% | -12.9% | ||
| Q1 24 | — | 1.6% |
| Q4 25 | $2.60 | — | ||
| Q3 25 | $-3.58 | $-0.36 | ||
| Q2 25 | $-0.70 | $-0.42 | ||
| Q1 25 | — | $0.12 | ||
| Q4 24 | $-0.95 | $0.98 | ||
| Q3 24 | $-0.24 | $0.62 | ||
| Q2 24 | $-0.18 | $-2.33 | ||
| Q1 24 | — | $-0.18 |
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 | $13.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $-134.0M |
| Total Assets | $6.6B | $228.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.1B | $13.7M | ||
| Q2 25 | $546.9M | $16.7M | ||
| Q1 25 | — | $16.4M | ||
| Q4 24 | $340.3M | $21.8M | ||
| Q3 24 | $365.7M | $13.5M | ||
| Q2 24 | $369.8M | $18.8M | ||
| Q1 24 | — | $22.6M |
| Q4 25 | $3.8B | — | ||
| Q3 25 | $2.3B | $-134.0M | ||
| Q2 25 | $1.2B | $-129.7M | ||
| Q1 25 | — | $-125.2M | ||
| Q4 24 | $383.9M | $-129.9M | ||
| Q3 24 | $435.7M | $-134.6M | ||
| Q2 24 | $463.3M | $-35.2M | ||
| Q1 24 | — | $-27.5M |
| Q4 25 | $6.6B | — | ||
| Q3 25 | $4.3B | $228.3M | ||
| Q2 25 | $1.3B | $252.6M | ||
| Q1 25 | — | $270.1M | ||
| Q4 24 | $508.4M | $273.9M | ||
| Q3 24 | $497.9M | $273.3M | ||
| Q2 24 | $517.4M | $301.7M | ||
| Q1 24 | — | $313.0M |
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 | $-2.2M |
| Free Cash FlowOCF − Capex | $-83.3M | $-3.0M |
| FCF MarginFCF / Revenue | -134.6% | -5.4% |
| Capex IntensityCapex / Revenue | 14.2% | 1.4% |
| Cash ConversionOCF / Net Profit | -0.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $-31.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | — | ||
| Q3 25 | $-123.1M | $-2.2M | ||
| Q2 25 | $-52.6M | $1.1M | ||
| Q1 25 | — | $-6.6M | ||
| Q4 24 | $-39.4M | $-15.8M | ||
| Q3 24 | $-19.2M | $-13.7M | ||
| Q2 24 | $-26.6M | $-1.8M | ||
| Q1 24 | — | $-7.2M |
| Q4 25 | $-83.3M | — | ||
| Q3 25 | $-127.2M | $-3.0M | ||
| Q2 25 | $-53.8M | $468.0K | ||
| Q1 25 | — | $-7.5M | ||
| Q4 24 | $-43.0M | $-21.2M | ||
| Q3 24 | $-23.0M | $-14.8M | ||
| Q2 24 | $-34.1M | $-3.7M | ||
| Q1 24 | — | $-8.5M |
| Q4 25 | -134.6% | — | ||
| Q3 25 | -319.1% | -5.4% | ||
| Q2 25 | -259.8% | 0.7% | ||
| Q1 25 | — | -11.4% | ||
| Q4 24 | -367.4% | -33.7% | ||
| Q3 24 | -185.3% | -21.5% | ||
| Q2 24 | -299.3% | -5.5% | ||
| Q1 24 | — | -10.6% |
| Q4 25 | 14.2% | — | ||
| Q3 25 | 10.4% | 1.4% | ||
| Q2 25 | 5.8% | 1.0% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | 30.7% | 8.7% | ||
| Q3 24 | 30.4% | 1.6% | ||
| Q2 24 | 65.8% | 2.8% | ||
| Q1 24 | — | 1.6% |
| Q4 25 | -0.10× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -4.09× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -3.16× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -5.70× |
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% |
ISPO
| Residence And Hotel Travel | $25.9M | 47% |
| Subscription | $19.4M | 35% |
| Experiences And Bespoke Travel | $8.0M | 14% |
| Rewards And Other Revenue | $2.3M | 4% |
