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Side-by-side financial comparison of IonQ, Inc. (IONQ) and RHYTHM PHARMACEUTICALS, INC. (RYTM). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $57.3M, roughly 1.1× RHYTHM PHARMACEUTICALS, INC.). IonQ, Inc. runs the higher net margin — 1217.8% vs -83.0%, a 1300.7% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 36.9%).
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.
Rhythm Pharmaceuticals is a biopharmaceutical firm focused on developing and commercializing targeted therapies for rare genetic disorders causing severe unmanageable obesity, including POMC deficiency, LEPR deficiency, and Bardet-Biedl syndrome. It serves patients in North America and Europe who lack effective standard treatments for their chronic life-altering conditions.
IONQ vs RYTM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $57.3M |
| Net Profit | $753.7M | $-47.5M |
| Gross Margin | — | 91.6% |
| Operating Margin | -369.4% | -82.2% |
| Net Margin | 1217.8% | -83.0% |
| Revenue YoY | 428.5% | 36.9% |
| Net Profit YoY | 473.1% | -9.6% |
| EPS (diluted) | $2.60 | $-0.73 |
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 | $57.3M | ||
| Q3 25 | $39.9M | $51.3M | ||
| Q2 25 | $20.7M | $48.5M | ||
| Q1 25 | — | $32.7M | ||
| Q4 24 | $11.7M | $41.8M | ||
| Q3 24 | $12.4M | $33.3M | ||
| Q2 24 | $11.4M | $29.1M | ||
| Q1 24 | — | $26.0M |
| Q4 25 | $753.7M | $-47.5M | ||
| Q3 25 | $-1.1B | $-52.9M | ||
| Q2 25 | $-176.8M | $-46.6M | ||
| Q1 25 | — | $-49.5M | ||
| Q4 24 | $-202.0M | $-43.3M | ||
| Q3 24 | $-52.5M | $-43.6M | ||
| Q2 24 | $-37.6M | $-32.3M | ||
| Q1 24 | — | $-141.4M |
| Q4 25 | — | 91.6% | ||
| Q3 25 | — | 89.3% | ||
| Q2 25 | — | 88.6% | ||
| Q1 25 | — | 88.8% | ||
| Q4 24 | — | 90.9% | ||
| Q3 24 | — | 88.5% | ||
| Q2 24 | — | 89.9% | ||
| Q1 24 | — | 89.2% |
| Q4 25 | -369.4% | -82.2% | ||
| Q3 25 | -423.5% | -102.6% | ||
| Q2 25 | -776.0% | -93.4% | ||
| Q1 25 | — | -143.7% | ||
| Q4 24 | -661.9% | -98.6% | ||
| Q3 24 | -428.5% | -132.0% | ||
| Q2 24 | -430.0% | -139.2% | ||
| Q1 24 | — | -538.7% |
| Q4 25 | 1217.8% | -83.0% | ||
| Q3 25 | -2646.3% | -103.1% | ||
| Q2 25 | -854.5% | -96.1% | ||
| Q1 25 | — | -151.4% | ||
| Q4 24 | -1725.0% | -103.6% | ||
| Q3 24 | -423.4% | -131.2% | ||
| Q2 24 | -330.0% | -110.9% | ||
| Q1 24 | — | -544.4% |
| Q4 25 | $2.60 | $-0.73 | ||
| Q3 25 | $-3.58 | $-0.82 | ||
| Q2 25 | $-0.70 | $-0.75 | ||
| Q1 25 | — | $-0.81 | ||
| Q4 24 | $-0.95 | $-0.71 | ||
| Q3 24 | $-0.24 | $-0.73 | ||
| Q2 24 | $-0.18 | $-0.55 | ||
| Q1 24 | — | $-2.35 |
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 | $388.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $139.1M |
| Total Assets | $6.6B | $480.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $388.9M | ||
| Q3 25 | $1.1B | $416.1M | ||
| Q2 25 | $546.9M | $291.0M | ||
| Q1 25 | — | $314.5M | ||
| Q4 24 | $340.3M | $320.6M | ||
| Q3 24 | $365.7M | $298.4M | ||
| Q2 24 | $369.8M | $319.1M | ||
| Q1 24 | — | $201.2M |
| Q4 25 | $3.8B | $139.1M | ||
| Q3 25 | $2.3B | $148.8M | ||
| Q2 25 | $1.2B | $-11.9M | ||
| Q1 25 | — | $18.9M | ||
| Q4 24 | $383.9M | $21.7M | ||
| Q3 24 | $435.7M | $11.2M | ||
| Q2 24 | $463.3M | $39.3M | ||
| Q1 24 | — | $61.6M |
| Q4 25 | $6.6B | $480.2M | ||
| Q3 25 | $4.3B | $506.9M | ||
| Q2 25 | $1.3B | $372.7M | ||
| Q1 25 | — | $386.7M | ||
| Q4 24 | $508.4M | $392.3M | ||
| Q3 24 | $497.9M | $363.6M | ||
| Q2 24 | $517.4M | $381.8M | ||
| Q1 24 | — | $258.7M |
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 | $-25.4M |
| Free Cash FlowOCF − Capex | $-83.3M | — |
| FCF MarginFCF / Revenue | -134.6% | — |
| Capex IntensityCapex / Revenue | 14.2% | — |
| Cash ConversionOCF / Net Profit | -0.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $-25.4M | ||
| Q3 25 | $-123.1M | $-26.6M | ||
| Q2 25 | $-52.6M | $-23.3M | ||
| Q1 25 | — | $-40.4M | ||
| Q4 24 | $-39.4M | $-18.8M | ||
| Q3 24 | $-19.2M | $-25.2M | ||
| Q2 24 | $-26.6M | $-29.1M | ||
| Q1 24 | — | $-40.7M |
| Q4 25 | $-83.3M | — | ||
| Q3 25 | $-127.2M | — | ||
| Q2 25 | $-53.8M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-43.0M | — | ||
| Q3 24 | $-23.0M | — | ||
| Q2 24 | $-34.1M | — | ||
| Q1 24 | — | — |
| Q4 25 | -134.6% | — | ||
| Q3 25 | -319.1% | — | ||
| Q2 25 | -259.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -367.4% | — | ||
| Q3 24 | -185.3% | — | ||
| Q2 24 | -299.3% | — | ||
| Q1 24 | — | — |
| Q4 25 | 14.2% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 30.7% | — | ||
| Q3 24 | 30.4% | — | ||
| Q2 24 | 65.8% | — | ||
| Q1 24 | — | — |
| 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% |
RYTM
Segment breakdown not available.
