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Side-by-side financial comparison of IonQ, Inc. (IONQ) and STEM, INC. (STEM). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $47.1M, roughly 1.3× STEM, INC.). IonQ, Inc. runs the higher net margin — 1217.8% vs -33.9%, a 1251.6% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -15.6%).
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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
IONQ vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $47.1M |
| Net Profit | $753.7M | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | -369.4% | -17.7% |
| Net Margin | 1217.8% | -33.9% |
| Revenue YoY | 428.5% | -15.6% |
| Net Profit YoY | 473.1% | 68.8% |
| EPS (diluted) | $2.60 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $39.9M | $38.2M | ||
| Q2 25 | $20.7M | $38.4M | ||
| Q1 25 | — | $32.5M | ||
| Q4 24 | $11.7M | $55.8M | ||
| Q3 24 | $12.4M | $29.3M | ||
| Q2 24 | $11.4M | $34.0M | ||
| Q1 24 | — | $25.5M |
| Q4 25 | $753.7M | $-16.0M | ||
| Q3 25 | $-1.1B | $-23.8M | ||
| Q2 25 | $-176.8M | $202.5M | ||
| Q1 25 | — | $-25.0M | ||
| Q4 24 | $-202.0M | $-51.1M | ||
| Q3 24 | $-52.5M | $-148.3M | ||
| Q2 24 | $-37.6M | $-582.3M | ||
| Q1 24 | — | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | -369.4% | -17.7% | ||
| Q3 25 | -423.5% | -33.6% | ||
| Q2 25 | -776.0% | -34.8% | ||
| Q1 25 | — | -65.0% | ||
| Q4 24 | -661.9% | -84.4% | ||
| Q3 24 | -428.5% | -493.2% | ||
| Q2 24 | -430.0% | -1705.5% | ||
| Q1 24 | — | -267.0% |
| Q4 25 | 1217.8% | -33.9% | ||
| Q3 25 | -2646.3% | -62.2% | ||
| Q2 25 | -854.5% | 527.8% | ||
| Q1 25 | — | -76.9% | ||
| Q4 24 | -1725.0% | -91.6% | ||
| Q3 24 | -423.4% | -506.3% | ||
| Q2 24 | -330.0% | -1712.6% | ||
| Q1 24 | — | -283.9% |
| Q4 25 | $2.60 | $-4.40 | ||
| Q3 25 | $-3.58 | $-2.84 | ||
| Q2 25 | $-0.70 | $-1.79 | ||
| Q1 25 | — | $-0.15 | ||
| Q4 24 | $-0.95 | $-15.29 | ||
| Q3 24 | $-0.24 | $-18.24 | ||
| Q2 24 | $-0.18 | $-71.81 | ||
| Q1 24 | — | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $-249.4M |
| Total Assets | $6.6B | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $48.9M | ||
| Q3 25 | $1.1B | $43.1M | ||
| Q2 25 | $546.9M | $40.8M | ||
| Q1 25 | — | $58.6M | ||
| Q4 24 | $340.3M | $56.3M | ||
| Q3 24 | $365.7M | $75.4M | ||
| Q2 24 | $369.8M | $89.6M | ||
| Q1 24 | — | $112.8M |
| Q4 25 | $3.8B | $-249.4M | ||
| Q3 25 | $2.3B | $-235.7M | ||
| Q2 25 | $1.2B | $-214.1M | ||
| Q1 25 | — | $-417.5M | ||
| Q4 24 | $383.9M | $-398.4M | ||
| Q3 24 | $435.7M | $-344.1M | ||
| Q2 24 | $463.3M | $-203.2M | ||
| Q1 24 | — | $371.6M |
| Q4 25 | $6.6B | $308.9M | ||
| Q3 25 | $4.3B | $362.6M | ||
| Q2 25 | $1.3B | $379.2M | ||
| Q1 25 | — | $405.1M | ||
| Q4 24 | $508.4M | $437.4M | ||
| Q3 24 | $497.9M | $537.8M | ||
| Q2 24 | $517.4M | $691.5M | ||
| Q1 24 | — | $1.3B |
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 | $8.2M |
| 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 | $8.2M | ||
| Q3 25 | $-123.1M | $11.4M | ||
| Q2 25 | $-52.6M | $-21.3M | ||
| Q1 25 | — | $8.5M | ||
| Q4 24 | $-39.4M | $-14.7M | ||
| Q3 24 | $-19.2M | $-9.4M | ||
| Q2 24 | $-26.6M | $-11.9M | ||
| Q1 24 | — | $-621.0K |
| 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 | — | -0.11× | ||
| 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% |
STEM
Segment breakdown not available.
