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Side-by-side financial comparison of IonQ, Inc. (IONQ) and RxSight, Inc. (RXST). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $32.6M, roughly 1.9× RxSight, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs -28.1%, a 1245.8% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -18.9%). RxSight, Inc. produced more free cash flow last quarter ($-2.3M 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.
RxSight, Inc. is a medical technology company focused on developing and commercializing innovative intraocular lens solutions for patients undergoing cataract and refractive lens exchange procedures. Its flagship Light Adjustable Lens allows post-surgery power adjustment via a dedicated light delivery device, serving global ophthalmology care markets to improve post-operative visual outcomes for patients.
IONQ vs RXST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $32.6M |
| Net Profit | $753.7M | $-9.2M |
| Gross Margin | — | 77.5% |
| Operating Margin | -369.4% | -34.8% |
| Net Margin | 1217.8% | -28.1% |
| Revenue YoY | 428.5% | -18.9% |
| Net Profit YoY | 473.1% | -54.1% |
| EPS (diluted) | $2.60 | $-0.22 |
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 | $32.6M | ||
| Q3 25 | $39.9M | $30.3M | ||
| Q2 25 | $20.7M | $33.6M | ||
| Q1 25 | — | $37.9M | ||
| Q4 24 | $11.7M | $40.2M | ||
| Q3 24 | $12.4M | $35.3M | ||
| Q2 24 | $11.4M | $34.9M | ||
| Q1 24 | — | $29.5M |
| Q4 25 | $753.7M | $-9.2M | ||
| Q3 25 | $-1.1B | $-9.8M | ||
| Q2 25 | $-176.8M | $-11.8M | ||
| Q1 25 | — | $-8.2M | ||
| Q4 24 | $-202.0M | $-5.9M | ||
| Q3 24 | $-52.5M | $-6.3M | ||
| Q2 24 | $-37.6M | $-6.1M | ||
| Q1 24 | — | $-9.1M |
| Q4 25 | — | 77.5% | ||
| Q3 25 | — | 79.9% | ||
| Q2 25 | — | 74.9% | ||
| Q1 25 | — | 74.8% | ||
| Q4 24 | — | 71.6% | ||
| Q3 24 | — | 71.4% | ||
| Q2 24 | — | 69.5% | ||
| Q1 24 | — | 70.1% |
| Q4 25 | -369.4% | -34.8% | ||
| Q3 25 | -423.5% | -40.1% | ||
| Q2 25 | -776.0% | -41.6% | ||
| Q1 25 | — | -28.2% | ||
| Q4 24 | -661.9% | -21.5% | ||
| Q3 24 | -428.5% | -26.1% | ||
| Q2 24 | -430.0% | -23.9% | ||
| Q1 24 | — | -36.2% |
| Q4 25 | 1217.8% | -28.1% | ||
| Q3 25 | -2646.3% | -32.4% | ||
| Q2 25 | -854.5% | -35.0% | ||
| Q1 25 | — | -21.6% | ||
| Q4 24 | -1725.0% | -14.8% | ||
| Q3 24 | -423.4% | -17.9% | ||
| Q2 24 | -330.0% | -17.4% | ||
| Q1 24 | — | -30.8% |
| Q4 25 | $2.60 | $-0.22 | ||
| Q3 25 | $-3.58 | $-0.24 | ||
| Q2 25 | $-0.70 | $-0.29 | ||
| Q1 25 | — | $-0.20 | ||
| Q4 24 | $-0.95 | $-0.14 | ||
| Q3 24 | $-0.24 | $-0.16 | ||
| Q2 24 | $-0.18 | $-0.16 | ||
| Q1 24 | — | $-0.25 |
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 | $228.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $275.7M |
| Total Assets | $6.6B | $311.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $228.1M | ||
| Q3 25 | $1.1B | $227.5M | ||
| Q2 25 | $546.9M | $227.5M | ||
| Q1 25 | — | $229.3M | ||
| Q4 24 | $340.3M | $237.2M | ||
| Q3 24 | $365.7M | $237.1M | ||
| Q2 24 | $369.8M | $233.3M | ||
| Q1 24 | — | $125.4M |
| Q4 25 | $3.8B | $275.7M | ||
| Q3 25 | $2.3B | $276.0M | ||
| Q2 25 | $1.2B | $278.0M | ||
| Q1 25 | — | $279.3M | ||
| Q4 24 | $383.9M | $281.2M | ||
| Q3 24 | $435.7M | $277.3M | ||
| Q2 24 | $463.3M | $275.2M | ||
| Q1 24 | — | $163.9M |
| Q4 25 | $6.6B | $311.8M | ||
| Q3 25 | $4.3B | $308.5M | ||
| Q2 25 | $1.3B | $309.0M | ||
| Q1 25 | — | $313.0M | ||
| Q4 24 | $508.4M | $318.6M | ||
| Q3 24 | $497.9M | $310.5M | ||
| Q2 24 | $517.4M | $305.5M | ||
| Q1 24 | — | $183.2M |
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 | $-1.1M |
| Free Cash FlowOCF − Capex | $-83.3M | $-2.3M |
| FCF MarginFCF / Revenue | -134.6% | -6.9% |
| Capex IntensityCapex / Revenue | 14.2% | 3.5% |
| Cash ConversionOCF / Net Profit | -0.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $-19.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $-1.1M | ||
| Q3 25 | $-123.1M | $-1.2M | ||
| Q2 25 | $-52.6M | $-4.4M | ||
| Q1 25 | — | $-8.8M | ||
| Q4 24 | $-39.4M | $-4.3M | ||
| Q3 24 | $-19.2M | $650.0K | ||
| Q2 24 | $-26.6M | $-4.0M | ||
| Q1 24 | — | $-9.3M |
| Q4 25 | $-83.3M | $-2.3M | ||
| Q3 25 | $-127.2M | $-1.8M | ||
| Q2 25 | $-53.8M | $-5.9M | ||
| Q1 25 | — | $-9.4M | ||
| Q4 24 | $-43.0M | $-5.1M | ||
| Q3 24 | $-23.0M | $-453.0K | ||
| Q2 24 | $-34.1M | $-5.5M | ||
| Q1 24 | — | $-11.3M |
| Q4 25 | -134.6% | -6.9% | ||
| Q3 25 | -319.1% | -5.8% | ||
| Q2 25 | -259.8% | -17.6% | ||
| Q1 25 | — | -24.8% | ||
| Q4 24 | -367.4% | -12.7% | ||
| Q3 24 | -185.3% | -1.3% | ||
| Q2 24 | -299.3% | -15.9% | ||
| Q1 24 | — | -38.2% |
| Q4 25 | 14.2% | 3.5% | ||
| Q3 25 | 10.4% | 1.9% | ||
| Q2 25 | 5.8% | 4.6% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | 30.7% | 2.1% | ||
| Q3 24 | 30.4% | 3.1% | ||
| Q2 24 | 65.8% | 4.4% | ||
| Q1 24 | — | 6.7% |
| 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% |
RXST
| Rxlal | $28.2M | 86% |
| LDD | $3.0M | 9% |
| Service Warranty Service Contracts And Accessories | $1.5M | 4% |
