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Side-by-side financial comparison of IonQ, Inc. (IONQ) and Lulu's Fashion Lounge Holdings, Inc. (LVLU). Click either name above to swap in a different company.
Lulu's Fashion Lounge Holdings, Inc. is the larger business by last-quarter revenue ($66.1M vs $61.9M, roughly 1.1× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs -48.2%, a 1265.9% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -11.8%). Lulu's Fashion Lounge Holdings, Inc. produced more free cash flow last quarter ($-2.6M 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.
Lulu's Fashion Lounge Holdings, Inc. is a direct-to-consumer women's fashion retailer offering affordable, trendy apparel, footwear, and accessories. It primarily serves Gen Z and millennial consumers across North America, operating mainly via its e-commerce platform, with limited pop-up physical locations to boost customer engagement.
IONQ vs LVLU — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2024
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $66.1M |
| Net Profit | $753.7M | $-31.9M |
| Gross Margin | — | 37.9% |
| Operating Margin | -369.4% | -52.8% |
| Net Margin | 1217.8% | -48.2% |
| Revenue YoY | 428.5% | -11.8% |
| Net Profit YoY | 473.1% | -340.9% |
| EPS (diluted) | $2.60 | $-13.46 |
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 | — | ||
| Q2 25 | $20.7M | — | ||
| Q4 24 | $11.7M | $66.1M | ||
| Q3 24 | $12.4M | $80.5M | ||
| Q2 24 | $11.4M | $92.0M | ||
| Q1 24 | — | $77.3M | ||
| Q4 23 | — | $83.1M |
| Q4 25 | $753.7M | — | ||
| Q3 25 | $-1.1B | — | ||
| Q2 25 | $-176.8M | — | ||
| Q4 24 | $-202.0M | $-31.9M | ||
| Q3 24 | $-52.5M | $-6.9M | ||
| Q2 24 | $-37.6M | $-10.8M | ||
| Q1 24 | — | $-5.7M | ||
| Q4 23 | — | $-3.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | 37.9% | ||
| Q3 24 | — | 38.1% | ||
| Q2 24 | — | 45.5% | ||
| Q1 24 | — | 42.3% | ||
| Q4 23 | — | 40.3% |
| Q4 25 | -369.4% | — | ||
| Q3 25 | -423.5% | — | ||
| Q2 25 | -776.0% | — | ||
| Q4 24 | -661.9% | -52.8% | ||
| Q3 24 | -428.5% | -8.5% | ||
| Q2 24 | -430.0% | -4.9% | ||
| Q1 24 | — | -8.0% | ||
| Q4 23 | — | -5.9% |
| Q4 25 | 1217.8% | — | ||
| Q3 25 | -2646.3% | — | ||
| Q2 25 | -854.5% | — | ||
| Q4 24 | -1725.0% | -48.2% | ||
| Q3 24 | -423.4% | -8.5% | ||
| Q2 24 | -330.0% | -11.7% | ||
| Q1 24 | — | -7.4% | ||
| Q4 23 | — | -4.7% |
| Q4 25 | $2.60 | — | ||
| Q3 25 | $-3.58 | — | ||
| Q2 25 | $-0.70 | — | ||
| Q4 24 | $-0.95 | $-13.46 | ||
| Q3 24 | $-0.24 | $-2.47 | ||
| Q2 24 | $-0.18 | $-3.92 | ||
| Q1 24 | — | $-0.15 | ||
| Q4 23 | — | $-0.10 |
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 | $4.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $13.4M |
| Total Assets | $6.6B | $108.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $546.9M | — | ||
| Q4 24 | $340.3M | $4.5M | ||
| Q3 24 | $365.7M | $6.3M | ||
| Q2 24 | $369.8M | $1.8M | ||
| Q1 24 | — | $5.5M | ||
| Q4 23 | — | $12.9M |
| Q4 25 | $3.8B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $1.2B | — | ||
| Q4 24 | $383.9M | $13.4M | ||
| Q3 24 | $435.7M | $43.8M | ||
| Q2 24 | $463.3M | $48.7M | ||
| Q1 24 | — | $57.7M | ||
| Q4 23 | — | $64.7M |
| Q4 25 | $6.6B | — | ||
| Q3 25 | $4.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q4 24 | $508.4M | $108.2M | ||
| Q3 24 | $497.9M | $153.5M | ||
| Q2 24 | $517.4M | $145.3M | ||
| Q1 24 | — | $160.6M | ||
| Q4 23 | — | $167.4M |
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 | $-74.5M | $-2.5M |
| Free Cash FlowOCF − Capex | $-83.3M | $-2.6M |
| FCF MarginFCF / Revenue | -134.6% | -3.9% |
| Capex IntensityCapex / Revenue | 14.2% | 0.0% |
| Cash ConversionOCF / Net Profit | -0.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $1.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | — | ||
| Q3 25 | $-123.1M | — | ||
| Q2 25 | $-52.6M | — | ||
| Q4 24 | $-39.4M | $-2.5M | ||
| Q3 24 | $-19.2M | $-5.5M | ||
| Q2 24 | $-26.6M | $3.7M | ||
| Q1 24 | — | $6.9M | ||
| Q4 23 | — | $12.7M |
| Q4 25 | $-83.3M | — | ||
| Q3 25 | $-127.2M | — | ||
| Q2 25 | $-53.8M | — | ||
| Q4 24 | $-43.0M | $-2.6M | ||
| Q3 24 | $-23.0M | $-5.9M | ||
| Q2 24 | $-34.1M | $3.4M | ||
| Q1 24 | — | $6.4M | ||
| Q4 23 | — | $12.1M |
| Q4 25 | -134.6% | — | ||
| Q3 25 | -319.1% | — | ||
| Q2 25 | -259.8% | — | ||
| Q4 24 | -367.4% | -3.9% | ||
| Q3 24 | -185.3% | -7.3% | ||
| Q2 24 | -299.3% | 3.7% | ||
| Q1 24 | — | 8.3% | ||
| Q4 23 | — | 14.5% |
| Q4 25 | 14.2% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 5.8% | — | ||
| Q4 24 | 30.7% | 0.0% | ||
| Q3 24 | 30.4% | 0.5% | ||
| Q2 24 | 65.8% | 0.4% | ||
| Q1 24 | — | 0.7% | ||
| Q4 23 | — | 0.8% |
| Q4 25 | -0.10× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
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% |
LVLU
| Single Reportable Segment | $63.0M | 95% |
| Other | $2.4M | 4% |
| Stored Value Cards | $750.0K | 1% |
