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Side-by-side financial comparison of IonQ, Inc. (IONQ) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
NOODLES & Co is the larger business by last-quarter revenue ($122.1M vs $61.9M, roughly 2.0× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs -7.5%, a 1225.2% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -4.1%). NOODLES & Co produced more free cash flow last quarter ($-2.8M 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.
Noodles & Company is an American fast-casual restaurant that offers international and American noodle dishes in addition to soups and salads. Noodles & Company was founded in 1995 by Aaron Kennedy and is headquartered in Broomfield, Colorado. The company went public in 2013 and recorded a $457 million revenue in 2017. In mid-2022, there were 458 Noodles & Company locations across 31 states.
IONQ vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $122.1M |
| Net Profit | $753.7M | $-9.2M |
| Gross Margin | — | — |
| Operating Margin | -369.4% | -5.2% |
| Net Margin | 1217.8% | -7.5% |
| Revenue YoY | 428.5% | -4.1% |
| Net Profit YoY | 473.1% | 32.8% |
| EPS (diluted) | $2.60 | $-0.20 |
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 | $122.1M | ||
| Q2 25 | $20.7M | $123.8M | ||
| Q4 24 | $11.7M | $122.8M | ||
| Q3 24 | $12.4M | $127.4M | ||
| Q2 24 | $11.4M | $121.4M | ||
| Q1 24 | — | $124.3M | ||
| Q4 23 | — | $127.9M |
| Q4 25 | $753.7M | — | ||
| Q3 25 | $-1.1B | $-9.2M | ||
| Q2 25 | $-176.8M | $-9.1M | ||
| Q4 24 | $-202.0M | $-6.8M | ||
| Q3 24 | $-52.5M | $-13.6M | ||
| Q2 24 | $-37.6M | $-6.1M | ||
| Q1 24 | — | $-6.1M | ||
| Q4 23 | — | $700.0K |
| Q4 25 | -369.4% | — | ||
| Q3 25 | -423.5% | -5.2% | ||
| Q2 25 | -776.0% | -5.2% | ||
| Q4 24 | -661.9% | -3.9% | ||
| Q3 24 | -428.5% | -9.0% | ||
| Q2 24 | -430.0% | -3.4% | ||
| Q1 24 | — | -3.7% | ||
| Q4 23 | — | 1.6% |
| Q4 25 | 1217.8% | — | ||
| Q3 25 | -2646.3% | -7.5% | ||
| Q2 25 | -854.5% | -7.3% | ||
| Q4 24 | -1725.0% | -5.5% | ||
| Q3 24 | -423.4% | -10.7% | ||
| Q2 24 | -330.0% | -5.1% | ||
| Q1 24 | — | -4.9% | ||
| Q4 23 | — | 0.5% |
| Q4 25 | $2.60 | — | ||
| Q3 25 | $-3.58 | $-0.20 | ||
| Q2 25 | $-0.70 | $-0.20 | ||
| Q4 24 | $-0.95 | $-0.15 | ||
| Q3 24 | $-0.24 | $-0.30 | ||
| Q2 24 | $-0.18 | $-0.14 | ||
| Q1 24 | — | $-1.64 | ||
| Q4 23 | — | $0.02 |
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 | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $-38.9M |
| Total Assets | $6.6B | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.1B | $4.7M | ||
| Q2 25 | $546.9M | $1.4M | ||
| Q4 24 | $340.3M | $3.3M | ||
| Q3 24 | $365.7M | $1.8M | ||
| Q2 24 | $369.8M | $1.3M | ||
| Q1 24 | — | $3.0M | ||
| Q4 23 | — | $2.5M |
| Q4 25 | $3.8B | — | ||
| Q3 25 | $2.3B | $-38.9M | ||
| Q2 25 | $1.2B | $-13.9M | ||
| Q4 24 | $383.9M | $3.7M | ||
| Q3 24 | $435.7M | $9.6M | ||
| Q2 24 | $463.3M | $21.9M | ||
| Q1 24 | — | $27.2M | ||
| Q4 23 | — | $32.5M |
| Q4 25 | $6.6B | — | ||
| Q3 25 | $4.3B | $280.6M | ||
| Q2 25 | $1.3B | $319.4M | ||
| Q4 24 | $508.4M | $340.5M | ||
| Q3 24 | $497.9M | $346.3M | ||
| Q2 24 | $517.4M | $360.4M | ||
| Q1 24 | — | $368.1M | ||
| Q4 23 | — | $368.8M |
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 | $4.3M |
| Free Cash FlowOCF − Capex | $-83.3M | $-2.8M |
| FCF MarginFCF / Revenue | -134.6% | -2.3% |
| Capex IntensityCapex / Revenue | 14.2% | 5.8% |
| Cash ConversionOCF / Net Profit | -0.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | — | ||
| Q3 25 | $-123.1M | $4.3M | ||
| Q2 25 | $-52.6M | $4.0M | ||
| Q4 24 | $-39.4M | $5.8M | ||
| Q3 24 | $-19.2M | $4.7M | ||
| Q2 24 | $-26.6M | $7.0M | ||
| Q1 24 | — | $164.0K | ||
| Q4 23 | — | $16.9M |
| Q4 25 | $-83.3M | — | ||
| Q3 25 | $-127.2M | $-2.8M | ||
| Q2 25 | $-53.8M | $1.1M | ||
| Q4 24 | $-43.0M | $-1.3M | ||
| Q3 24 | $-23.0M | $-4.5M | ||
| Q2 24 | $-34.1M | $-1.6M | ||
| Q1 24 | — | $-15.2M | ||
| Q4 23 | — | $4.1M |
| Q4 25 | -134.6% | — | ||
| Q3 25 | -319.1% | -2.3% | ||
| Q2 25 | -259.8% | 0.9% | ||
| Q4 24 | -367.4% | -1.1% | ||
| Q3 24 | -185.3% | -3.5% | ||
| Q2 24 | -299.3% | -1.4% | ||
| Q1 24 | — | -12.2% | ||
| Q4 23 | — | 3.2% |
| Q4 25 | 14.2% | — | ||
| Q3 25 | 10.4% | 5.8% | ||
| Q2 25 | 5.8% | 2.4% | ||
| Q4 24 | 30.7% | 5.8% | ||
| Q3 24 | 30.4% | 7.2% | ||
| Q2 24 | 65.8% | 7.1% | ||
| Q1 24 | — | 12.3% | ||
| Q4 23 | — | 10.0% |
| Q4 25 | -0.10× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | 24.21× |
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% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
