vs
Side-by-side financial comparison of IonQ, Inc. (IONQ) and Katapult Holdings, Inc. (KPLT). Click either name above to swap in a different company.
Katapult Holdings, Inc. is the larger business by last-quarter revenue ($73.9M vs $61.9M, roughly 1.2× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs 26.8%, a 1190.9% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 17.3%). Katapult Holdings, Inc. produced more free cash flow last quarter ($-12.0M 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.
Katapult Holdings, Inc. is a U.S.-based fintech company that provides accessible point-of-sale lease-to-purchase solutions for consumers with limited or no traditional credit history. It partners with a wide network of e-commerce platforms and brick-and-mortar retail merchants across segments including electronics, furniture and home goods to offer flexible payment plans for customers to obtain needed products.
IONQ vs KPLT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $73.9M |
| Net Profit | $753.7M | $19.8M |
| Gross Margin | — | 15.6% |
| Operating Margin | -369.4% | -1.4% |
| Net Margin | 1217.8% | 26.8% |
| Revenue YoY | 428.5% | 17.3% |
| Net Profit YoY | 473.1% | 307.3% |
| EPS (diluted) | $2.60 | $3.69 |
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 | $73.9M | ||
| Q3 25 | $39.9M | $74.0M | ||
| Q2 25 | $20.7M | $71.9M | ||
| Q1 25 | — | $71.9M | ||
| Q4 24 | $11.7M | $63.0M | ||
| Q3 24 | $12.4M | $60.3M | ||
| Q2 24 | $11.4M | $58.9M | ||
| Q1 24 | — | $65.1M |
| Q4 25 | $753.7M | $19.8M | ||
| Q3 25 | $-1.1B | $-4.9M | ||
| Q2 25 | $-176.8M | $-7.8M | ||
| Q1 25 | — | $-5.7M | ||
| Q4 24 | $-202.0M | $-9.6M | ||
| Q3 24 | $-52.5M | $-8.9M | ||
| Q2 24 | $-37.6M | $-6.9M | ||
| Q1 24 | — | $-570.0K |
| Q4 25 | — | 15.6% | ||
| Q3 25 | — | 19.7% | ||
| Q2 25 | — | 15.5% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 19.8% | ||
| Q2 24 | — | 16.9% | ||
| Q1 24 | — | 25.3% |
| Q4 25 | -369.4% | -1.4% | ||
| Q3 25 | -423.5% | 3.3% | ||
| Q2 25 | -776.0% | -2.0% | ||
| Q1 25 | — | -0.7% | ||
| Q4 24 | -661.9% | -7.7% | ||
| Q3 24 | -428.5% | -7.4% | ||
| Q2 24 | -430.0% | -4.5% | ||
| Q1 24 | — | 5.8% |
| Q4 25 | 1217.8% | 26.8% | ||
| Q3 25 | -2646.3% | -6.7% | ||
| Q2 25 | -854.5% | -10.9% | ||
| Q1 25 | — | -7.9% | ||
| Q4 24 | -1725.0% | -15.2% | ||
| Q3 24 | -423.4% | -14.7% | ||
| Q2 24 | -330.0% | -11.7% | ||
| Q1 24 | — | -0.9% |
| Q4 25 | $2.60 | $3.69 | ||
| Q3 25 | $-3.58 | $-0.94 | ||
| Q2 25 | $-0.70 | $-1.63 | ||
| Q1 25 | — | $-1.23 | ||
| Q4 24 | $-0.95 | $-2.17 | ||
| Q3 24 | $-0.24 | $-2.05 | ||
| Q2 24 | $-0.18 | $-1.61 | ||
| Q1 24 | — | $-0.13 |
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 | $22.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $-38.1M |
| Total Assets | $6.6B | $107.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $22.4M | ||
| Q3 25 | $1.1B | $3.4M | ||
| Q2 25 | $546.9M | $3.7M | ||
| Q1 25 | — | $6.0M | ||
| Q4 24 | $340.3M | $3.5M | ||
| Q3 24 | $365.7M | $25.9M | ||
| Q2 24 | $369.8M | $33.7M | ||
| Q1 24 | — | $31.2M |
| Q4 25 | $3.8B | $-38.1M | ||
| Q3 25 | $2.3B | $-58.4M | ||
| Q2 25 | $1.2B | $-54.1M | ||
| Q1 25 | — | $-51.7M | ||
| Q4 24 | $383.9M | $-46.8M | ||
| Q3 24 | $435.7M | $-40.3M | ||
| Q2 24 | $463.3M | $-32.9M | ||
| Q1 24 | — | $-27.5M |
| Q4 25 | $6.6B | $107.9M | ||
| Q3 25 | $4.3B | $85.9M | ||
| Q2 25 | $1.3B | $90.6M | ||
| Q1 25 | — | $88.5M | ||
| Q4 24 | $508.4M | $93.2M | ||
| Q3 24 | $497.9M | $92.0M | ||
| Q2 24 | $517.4M | $106.6M | ||
| Q1 24 | — | $106.6M |
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 | $-11.9M |
| Free Cash FlowOCF − Capex | $-83.3M | $-12.0M |
| FCF MarginFCF / Revenue | -134.6% | -16.2% |
| Capex IntensityCapex / Revenue | 14.2% | 0.0% |
| Cash ConversionOCF / Net Profit | -0.10× | -0.60× |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $-11.9M | ||
| Q3 25 | $-123.1M | $4.0M | ||
| Q2 25 | $-52.6M | $-6.6M | ||
| Q1 25 | — | $3.4M | ||
| Q4 24 | $-39.4M | $-32.6M | ||
| Q3 24 | $-19.2M | $-5.4M | ||
| Q2 24 | $-26.6M | $-628.0K | ||
| Q1 24 | — | $2.0M |
| Q4 25 | $-83.3M | $-12.0M | ||
| Q3 25 | $-127.2M | $4.0M | ||
| Q2 25 | $-53.8M | — | ||
| Q1 25 | — | $3.4M | ||
| Q4 24 | $-43.0M | $-32.6M | ||
| Q3 24 | $-23.0M | $-5.4M | ||
| Q2 24 | $-34.1M | $-653.0K | ||
| Q1 24 | — | — |
| Q4 25 | -134.6% | -16.2% | ||
| Q3 25 | -319.1% | 5.4% | ||
| Q2 25 | -259.8% | — | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | -367.4% | -51.8% | ||
| Q3 24 | -185.3% | -9.0% | ||
| Q2 24 | -299.3% | -1.1% | ||
| Q1 24 | — | — |
| Q4 25 | 14.2% | 0.0% | ||
| Q3 25 | 10.4% | 0.0% | ||
| Q2 25 | 5.8% | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | 30.7% | 0.1% | ||
| Q3 24 | 30.4% | 0.0% | ||
| Q2 24 | 65.8% | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | -0.10× | -0.60× | ||
| 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% |
KPLT
Segment breakdown not available.
