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Side-by-side financial comparison of IonQ, Inc. (IONQ) and READING INTERNATIONAL INC (RDI). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $50.3M, roughly 1.2× READING INTERNATIONAL INC). IonQ, Inc. runs the higher net margin — 1217.8% vs -5.1%, a 1222.9% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -14.2%). READING INTERNATIONAL INC produced more free cash flow last quarter ($4.1M 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.
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
IONQ vs RDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $50.3M |
| Net Profit | $753.7M | $-2.6M |
| Gross Margin | — | — |
| Operating Margin | -369.4% | -1.9% |
| Net Margin | 1217.8% | -5.1% |
| Revenue YoY | 428.5% | -14.2% |
| Net Profit YoY | 473.1% | -14.5% |
| EPS (diluted) | $2.60 | $-0.11 |
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 | $50.3M | ||
| Q3 25 | $39.9M | $52.2M | ||
| Q2 25 | $20.7M | $60.4M | ||
| Q1 25 | — | $40.2M | ||
| Q4 24 | $11.7M | $58.6M | ||
| Q3 24 | $12.4M | $60.1M | ||
| Q2 24 | $11.4M | $46.8M | ||
| Q1 24 | — | $45.1M |
| Q4 25 | $753.7M | $-2.6M | ||
| Q3 25 | $-1.1B | $-4.2M | ||
| Q2 25 | $-176.8M | $-2.7M | ||
| Q1 25 | — | $-4.8M | ||
| Q4 24 | $-202.0M | $-2.2M | ||
| Q3 24 | $-52.5M | $-7.0M | ||
| Q2 24 | $-37.6M | $-12.8M | ||
| Q1 24 | — | $-13.2M |
| Q4 25 | -369.4% | -1.9% | ||
| Q3 25 | -423.5% | -0.6% | ||
| Q2 25 | -776.0% | 4.8% | ||
| Q1 25 | — | -17.2% | ||
| Q4 24 | -661.9% | 2.6% | ||
| Q3 24 | -428.5% | -0.6% | ||
| Q2 24 | -430.0% | -16.4% | ||
| Q1 24 | — | -16.7% |
| Q4 25 | 1217.8% | -5.1% | ||
| Q3 25 | -2646.3% | -8.0% | ||
| Q2 25 | -854.5% | -4.4% | ||
| Q1 25 | — | -11.8% | ||
| Q4 24 | -1725.0% | -3.8% | ||
| Q3 24 | -423.4% | -11.7% | ||
| Q2 24 | -330.0% | -27.4% | ||
| Q1 24 | — | -29.4% |
| Q4 25 | $2.60 | $-0.11 | ||
| Q3 25 | $-3.58 | $-0.18 | ||
| Q2 25 | $-0.70 | $-0.12 | ||
| Q1 25 | — | $-0.21 | ||
| Q4 24 | $-0.95 | $-0.11 | ||
| Q3 24 | $-0.24 | $-0.31 | ||
| Q2 24 | $-0.18 | $-0.57 | ||
| Q1 24 | — | $-0.59 |
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 | $10.5M |
| Total DebtLower is stronger | — | $185.1M |
| Stockholders' EquityBook value | $3.8B | $-18.2M |
| Total Assets | $6.6B | $434.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $10.5M | ||
| Q3 25 | $1.1B | $8.1M | ||
| Q2 25 | $546.9M | $9.1M | ||
| Q1 25 | — | $5.9M | ||
| Q4 24 | $340.3M | $12.4M | ||
| Q3 24 | $365.7M | $10.1M | ||
| Q2 24 | $369.8M | $9.3M | ||
| Q1 24 | — | $7.5M |
| Q4 25 | — | $185.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $202.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.8B | $-18.2M | ||
| Q3 25 | $2.3B | $-12.1M | ||
| Q2 25 | $1.2B | $-7.7M | ||
| Q1 25 | — | $-8.1M | ||
| Q4 24 | $383.9M | $-4.4M | ||
| Q3 24 | $435.7M | $1.6M | ||
| Q2 24 | $463.3M | $6.5M | ||
| Q1 24 | — | $18.0M |
| Q4 25 | $6.6B | $434.9M | ||
| Q3 25 | $4.3B | $435.2M | ||
| Q2 25 | $1.3B | $438.1M | ||
| Q1 25 | — | $441.0M | ||
| Q4 24 | $508.4M | $471.0M | ||
| Q3 24 | $497.9M | $495.7M | ||
| Q2 24 | $517.4M | $494.9M | ||
| Q1 24 | — | $494.9M |
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 | $4.1M |
| FCF MarginFCF / Revenue | -134.6% | 8.2% |
| Capex IntensityCapex / Revenue | 14.2% | 0.3% |
| Cash ConversionOCF / Net Profit | -0.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $-2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $4.3M | ||
| Q3 25 | $-123.1M | $295.0K | ||
| Q2 25 | $-52.6M | $1.6M | ||
| Q1 25 | — | $-7.7M | ||
| Q4 24 | $-39.4M | $8.0M | ||
| Q3 24 | $-19.2M | $1.3M | ||
| Q2 24 | $-26.6M | $-10.4M | ||
| Q1 24 | — | $-2.8M |
| Q4 25 | $-83.3M | $4.1M | ||
| Q3 25 | $-127.2M | $-246.0K | ||
| Q2 25 | $-53.8M | $1.2M | ||
| Q1 25 | — | $-8.0M | ||
| Q4 24 | $-43.0M | $7.0M | ||
| Q3 24 | $-23.0M | $-1.1M | ||
| Q2 24 | $-34.1M | $-10.6M | ||
| Q1 24 | — | $-4.7M |
| Q4 25 | -134.6% | 8.2% | ||
| Q3 25 | -319.1% | -0.5% | ||
| Q2 25 | -259.8% | 1.9% | ||
| Q1 25 | — | -19.8% | ||
| Q4 24 | -367.4% | 12.0% | ||
| Q3 24 | -185.3% | -1.8% | ||
| Q2 24 | -299.3% | -22.7% | ||
| Q1 24 | — | -10.4% |
| Q4 25 | 14.2% | 0.3% | ||
| Q3 25 | 10.4% | 1.0% | ||
| Q2 25 | 5.8% | 0.6% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | 30.7% | 1.7% | ||
| Q3 24 | 30.4% | 4.0% | ||
| Q2 24 | 65.8% | 0.5% | ||
| Q1 24 | — | 4.3% |
| Q4 25 | -0.10× | — | ||
| 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% |
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
