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Side-by-side financial comparison of IonQ, Inc. (IONQ) and SOLENO THERAPEUTICS INC (SLNO). Click either name above to swap in a different company.
SOLENO THERAPEUTICS INC is the larger business by last-quarter revenue ($66.0M vs $61.9M, roughly 1.1× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs 39.4%, a 1178.3% gap on every dollar of revenue. SOLENO THERAPEUTICS INC produced more free cash flow last quarter ($43.5M 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.
SOLENO THERAPEUTICS INC is a clinical-stage biopharmaceutical company specializing in developing novel therapies for rare endocrine, metabolic, and neurodevelopmental disorders. Its lead product candidate targets Prader-Willi syndrome, a rare genetic condition, with key patient markets across North America and the European Union.
IONQ vs SLNO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $66.0M |
| Net Profit | $753.7M | $26.0M |
| Gross Margin | — | 98.3% |
| Operating Margin | -369.4% | 33.5% |
| Net Margin | 1217.8% | 39.4% |
| Revenue YoY | 428.5% | — |
| Net Profit YoY | 473.1% | 134.0% |
| EPS (diluted) | $2.60 | $0.47 |
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 | $66.0M | ||
| Q2 25 | $20.7M | $32.7M | ||
| Q4 24 | $11.7M | — | ||
| Q3 24 | $12.4M | — | ||
| Q2 24 | $11.4M | — |
| Q4 25 | $753.7M | — | ||
| Q3 25 | $-1.1B | $26.0M | ||
| Q2 25 | $-176.8M | $-4.7M | ||
| Q4 24 | $-202.0M | — | ||
| Q3 24 | $-52.5M | — | ||
| Q2 24 | $-37.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 98.3% | ||
| Q2 25 | — | 97.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q4 25 | -369.4% | — | ||
| Q3 25 | -423.5% | 33.5% | ||
| Q2 25 | -776.0% | -20.0% | ||
| Q4 24 | -661.9% | — | ||
| Q3 24 | -428.5% | — | ||
| Q2 24 | -430.0% | — |
| Q4 25 | 1217.8% | — | ||
| Q3 25 | -2646.3% | 39.4% | ||
| Q2 25 | -854.5% | -14.4% | ||
| Q4 24 | -1725.0% | — | ||
| Q3 24 | -423.4% | — | ||
| Q2 24 | -330.0% | — |
| Q4 25 | $2.60 | — | ||
| Q3 25 | $-3.58 | $0.47 | ||
| Q2 25 | $-0.70 | $-0.09 | ||
| Q4 24 | $-0.95 | — | ||
| Q3 24 | $-0.24 | — | ||
| Q2 24 | $-0.18 | — |
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 | $498.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $494.8M |
| Total Assets | $6.6B | $599.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.1B | $498.9M | ||
| Q2 25 | $546.9M | $286.8M | ||
| Q4 24 | $340.3M | — | ||
| Q3 24 | $365.7M | — | ||
| Q2 24 | $369.8M | — |
| Q4 25 | $3.8B | — | ||
| Q3 25 | $2.3B | $494.8M | ||
| Q2 25 | $1.2B | $240.1M | ||
| Q4 24 | $383.9M | — | ||
| Q3 24 | $435.7M | — | ||
| Q2 24 | $463.3M | — |
| Q4 25 | $6.6B | — | ||
| Q3 25 | $4.3B | $599.9M | ||
| Q2 25 | $1.3B | $332.3M | ||
| Q4 24 | $508.4M | — | ||
| Q3 24 | $497.9M | — | ||
| Q2 24 | $517.4M | — |
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 | $43.5M |
| Free Cash FlowOCF − Capex | $-83.3M | $43.5M |
| FCF MarginFCF / Revenue | -134.6% | 65.8% |
| Capex IntensityCapex / Revenue | 14.2% | 0.0% |
| Cash ConversionOCF / Net Profit | -0.10× | 1.67× |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | — | ||
| Q3 25 | $-123.1M | $43.5M | ||
| Q2 25 | $-52.6M | $-12.6M | ||
| Q4 24 | $-39.4M | — | ||
| Q3 24 | $-19.2M | — | ||
| Q2 24 | $-26.6M | — |
| Q4 25 | $-83.3M | — | ||
| Q3 25 | $-127.2M | $43.5M | ||
| Q2 25 | $-53.8M | $-12.6M | ||
| Q4 24 | $-43.0M | — | ||
| Q3 24 | $-23.0M | — | ||
| Q2 24 | $-34.1M | — |
| Q4 25 | -134.6% | — | ||
| Q3 25 | -319.1% | 65.8% | ||
| Q2 25 | -259.8% | -38.6% | ||
| Q4 24 | -367.4% | — | ||
| Q3 24 | -185.3% | — | ||
| Q2 24 | -299.3% | — |
| Q4 25 | 14.2% | — | ||
| Q3 25 | 10.4% | 0.0% | ||
| Q2 25 | 5.8% | 0.0% | ||
| Q4 24 | 30.7% | — | ||
| Q3 24 | 30.4% | — | ||
| Q2 24 | 65.8% | — |
| Q4 25 | -0.10× | — | ||
| Q3 25 | — | 1.67× | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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% |
SLNO
Segment breakdown not available.
