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Side-by-side financial comparison of IonQ, Inc. (IONQ) and PUMA BIOTECHNOLOGY, INC. (PBYI). Click either name above to swap in a different company.
PUMA BIOTECHNOLOGY, INC. is the larger business by last-quarter revenue ($75.5M vs $61.9M, roughly 1.2× IonQ, Inc.). On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 27.7%). PUMA BIOTECHNOLOGY, INC. produced more free cash flow last quarter ($14.4M 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.
Puma Biotechnology is a publicly traded biopharmaceutical company headquartered in Los Angeles, CA.
IONQ vs PBYI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $75.5M |
| Net Profit | $753.7M | — |
| Gross Margin | — | 69.3% |
| Operating Margin | -369.4% | 22.7% |
| Net Margin | 1217.8% | — |
| Revenue YoY | 428.5% | 27.7% |
| Net Profit YoY | 473.1% | — |
| EPS (diluted) | $2.60 | $0.26 |
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 | $75.5M | ||
| Q3 25 | $39.9M | $54.5M | ||
| Q2 25 | $20.7M | $52.4M | ||
| Q1 25 | — | $46.0M | ||
| Q4 24 | $11.7M | $59.1M | ||
| Q3 24 | $12.4M | $80.5M | ||
| Q2 24 | $11.4M | $47.1M | ||
| Q1 24 | — | $43.8M |
| Q4 25 | $753.7M | — | ||
| Q3 25 | $-1.1B | $8.8M | ||
| Q2 25 | $-176.8M | $5.9M | ||
| Q1 25 | — | $3.0M | ||
| Q4 24 | $-202.0M | — | ||
| Q3 24 | $-52.5M | $20.3M | ||
| Q2 24 | $-37.6M | $-4.5M | ||
| Q1 24 | — | $-4.8M |
| Q4 25 | — | 69.3% | ||
| Q3 25 | — | 77.7% | ||
| Q2 25 | — | 76.5% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 76.4% | ||
| Q3 24 | — | 63.9% | ||
| Q2 24 | — | 77.4% | ||
| Q1 24 | — | 75.5% |
| Q4 25 | -369.4% | 22.7% | ||
| Q3 25 | -423.5% | 17.6% | ||
| Q2 25 | -776.0% | 12.7% | ||
| Q1 25 | — | 8.7% | ||
| Q4 24 | -661.9% | 22.6% | ||
| Q3 24 | -428.5% | 27.4% | ||
| Q2 24 | -430.0% | -4.6% | ||
| Q1 24 | — | -5.3% |
| Q4 25 | 1217.8% | — | ||
| Q3 25 | -2646.3% | 16.2% | ||
| Q2 25 | -854.5% | 11.2% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | -1725.0% | — | ||
| Q3 24 | -423.4% | 25.2% | ||
| Q2 24 | -330.0% | -9.6% | ||
| Q1 24 | — | -11.0% |
| Q4 25 | $2.60 | $0.26 | ||
| Q3 25 | $-3.58 | $0.17 | ||
| Q2 25 | $-0.70 | $0.12 | ||
| Q1 25 | — | $0.06 | ||
| Q4 24 | $-0.95 | $0.40 | ||
| Q3 24 | $-0.24 | $0.41 | ||
| Q2 24 | $-0.18 | $-0.09 | ||
| Q1 24 | — | $-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 | $97.5M |
| Total DebtLower is stronger | — | $22.7M |
| Stockholders' EquityBook value | $3.8B | $130.3M |
| Total Assets | $6.6B | $216.3M |
| Debt / EquityLower = less leverage | — | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $97.5M | ||
| Q3 25 | $1.1B | $94.4M | ||
| Q2 25 | $546.9M | $96.0M | ||
| Q1 25 | — | $93.2M | ||
| Q4 24 | $340.3M | $101.0M | ||
| Q3 24 | $365.7M | $96.7M | ||
| Q2 24 | $369.8M | $96.8M | ||
| Q1 24 | — | $107.2M |
| Q4 25 | — | $22.7M | ||
| Q3 25 | — | $34.0M | ||
| Q2 25 | — | $45.3M | ||
| Q1 25 | — | $56.7M | ||
| Q4 24 | — | $68.0M | ||
| Q3 24 | — | $79.3M | ||
| Q2 24 | — | $90.7M | ||
| Q1 24 | — | $102.0M |
| Q4 25 | $3.8B | $130.3M | ||
| Q3 25 | $2.3B | $115.3M | ||
| Q2 25 | $1.2B | $104.7M | ||
| Q1 25 | — | $97.1M | ||
| Q4 24 | $383.9M | $92.1M | ||
| Q3 24 | $435.7M | $71.1M | ||
| Q2 24 | $463.3M | $48.5M | ||
| Q1 24 | — | $51.0M |
| Q4 25 | $6.6B | $216.3M | ||
| Q3 25 | $4.3B | $202.9M | ||
| Q2 25 | $1.3B | $194.9M | ||
| Q1 25 | — | $196.2M | ||
| Q4 24 | $508.4M | $213.3M | ||
| Q3 24 | $497.9M | $220.7M | ||
| Q2 24 | $517.4M | $205.0M | ||
| Q1 24 | — | $214.1M |
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | 0.30× | ||
| Q2 25 | — | 0.43× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 1.12× | ||
| Q2 24 | — | 1.87× | ||
| Q1 24 | — | 2.00× |
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 | $14.4M |
| Free Cash FlowOCF − Capex | $-83.3M | $14.4M |
| FCF MarginFCF / Revenue | -134.6% | 19.1% |
| Capex IntensityCapex / Revenue | 14.2% | 0.0% |
| Cash ConversionOCF / Net Profit | -0.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $41.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $14.4M | ||
| Q3 25 | $-123.1M | $9.7M | ||
| Q2 25 | $-52.6M | $14.1M | ||
| Q1 25 | — | $3.6M | ||
| Q4 24 | $-39.4M | $15.6M | ||
| Q3 24 | $-19.2M | $11.0M | ||
| Q2 24 | $-26.6M | $1.0M | ||
| Q1 24 | — | $11.2M |
| Q4 25 | $-83.3M | $14.4M | ||
| Q3 25 | $-127.2M | $9.7M | ||
| Q2 25 | $-53.8M | $14.1M | ||
| Q1 25 | — | $3.6M | ||
| Q4 24 | $-43.0M | $15.6M | ||
| Q3 24 | $-23.0M | $11.0M | ||
| Q2 24 | $-34.1M | $1.0M | ||
| Q1 24 | — | — |
| Q4 25 | -134.6% | 19.1% | ||
| Q3 25 | -319.1% | 17.7% | ||
| Q2 25 | -259.8% | 26.8% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | -367.4% | 26.4% | ||
| Q3 24 | -185.3% | 13.7% | ||
| Q2 24 | -299.3% | 2.1% | ||
| Q1 24 | — | — |
| Q4 25 | 14.2% | 0.0% | ||
| Q3 25 | 10.4% | 0.0% | ||
| Q2 25 | 5.8% | 0.0% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 30.7% | 0.0% | ||
| Q3 24 | 30.4% | 0.0% | ||
| Q2 24 | 65.8% | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | -0.10× | — | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | 1.21× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.54× | ||
| 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% |
PBYI
Segment breakdown not available.
