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Side-by-side financial comparison of IonQ, Inc. (IONQ) and BRAND HOUSE COLLECTIVE, INC. (TBHC). Click either name above to swap in a different company.
BRAND HOUSE COLLECTIVE, INC. is the larger business by last-quarter revenue ($103.5M vs $61.9M, roughly 1.7× IonQ, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs -3.6%, a 1221.3% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs -9.6%). BRAND HOUSE COLLECTIVE, INC. produced more free cash flow last quarter ($-26.8M 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.
Soho House is an international private members’ club with a focus on the media, arts and fashion industries.
IONQ vs TBHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $103.5M |
| Net Profit | $753.7M | $-3.7M |
| Gross Margin | — | 20.4% |
| Operating Margin | -369.4% | -1.9% |
| Net Margin | 1217.8% | -3.6% |
| Revenue YoY | 428.5% | -9.6% |
| Net Profit YoY | 473.1% | 51.8% |
| EPS (diluted) | $2.60 | $-0.16 |
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 | $103.5M | ||
| Q3 25 | $39.9M | $75.8M | ||
| Q2 25 | $20.7M | $81.5M | ||
| Q1 25 | — | $148.9M | ||
| Q4 24 | $11.7M | $114.4M | ||
| Q3 24 | $12.4M | $86.3M | ||
| Q2 24 | $11.4M | $91.8M | ||
| Q1 24 | — | $165.9M |
| Q4 25 | $753.7M | $-3.7M | ||
| Q3 25 | $-1.1B | $-20.2M | ||
| Q2 25 | $-176.8M | $-11.8M | ||
| Q1 25 | — | $7.9M | ||
| Q4 24 | $-202.0M | $-7.7M | ||
| Q3 24 | $-52.5M | $-14.5M | ||
| Q2 24 | $-37.6M | $-8.8M | ||
| Q1 24 | — | $10.1M |
| Q4 25 | — | 20.4% | ||
| Q3 25 | — | 16.3% | ||
| Q2 25 | — | 24.9% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 28.1% | ||
| Q3 24 | — | 20.5% | ||
| Q2 24 | — | 29.5% | ||
| Q1 24 | — | 32.0% |
| Q4 25 | -369.4% | -1.9% | ||
| Q3 25 | -423.5% | -24.7% | ||
| Q2 25 | -776.0% | -12.9% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | -661.9% | -2.1% | ||
| Q3 24 | -428.5% | -15.4% | ||
| Q2 24 | -430.0% | -8.2% | ||
| Q1 24 | — | 6.4% |
| Q4 25 | 1217.8% | -3.6% | ||
| Q3 25 | -2646.3% | -26.6% | ||
| Q2 25 | -854.5% | -14.5% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | -1725.0% | -6.7% | ||
| Q3 24 | -423.4% | -16.8% | ||
| Q2 24 | -330.0% | -9.6% | ||
| Q1 24 | — | 6.1% |
| Q4 25 | $2.60 | $-0.16 | ||
| Q3 25 | $-3.58 | $-0.90 | ||
| Q2 25 | $-0.70 | $-0.54 | ||
| Q1 25 | — | $0.61 | ||
| Q4 24 | $-0.95 | $-0.59 | ||
| Q3 24 | $-0.24 | $-1.11 | ||
| Q2 24 | $-0.18 | $-0.68 | ||
| Q1 24 | — | $0.80 |
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 | $6.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $-44.0M |
| Total Assets | $6.6B | $229.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $6.5M | ||
| Q3 25 | $1.1B | $3.6M | ||
| Q2 25 | $546.9M | $3.5M | ||
| Q1 25 | — | $3.8M | ||
| Q4 24 | $340.3M | $6.8M | ||
| Q3 24 | $365.7M | $4.5M | ||
| Q2 24 | $369.8M | $3.8M | ||
| Q1 24 | — | $3.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $64.0M | ||
| Q4 24 | — | $85.8M | ||
| Q3 24 | — | $61.4M | ||
| Q2 24 | — | $47.5M | ||
| Q1 24 | — | $34.0M |
| Q4 25 | $3.8B | $-44.0M | ||
| Q3 25 | $2.3B | $-35.2M | ||
| Q2 25 | $1.2B | $-16.2M | ||
| Q1 25 | — | $-19.0M | ||
| Q4 24 | $383.9M | $-27.1M | ||
| Q3 24 | $435.7M | $-19.7M | ||
| Q2 24 | $463.3M | $-5.5M | ||
| Q1 24 | — | $3.1M |
| Q4 25 | $6.6B | $229.2M | ||
| Q3 25 | $4.3B | $221.9M | ||
| Q2 25 | $1.3B | $225.4M | ||
| Q1 25 | — | $242.2M | ||
| Q4 24 | $508.4M | $279.8M | ||
| Q3 24 | $497.9M | $266.2M | ||
| Q2 24 | $517.4M | $242.6M | ||
| Q1 24 | — | $250.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 10.88× |
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 | $-25.9M |
| Free Cash FlowOCF − Capex | $-83.3M | $-26.8M |
| FCF MarginFCF / Revenue | -134.6% | -25.9% |
| Capex IntensityCapex / Revenue | 14.2% | 0.9% |
| Cash ConversionOCF / Net Profit | -0.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $-18.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $-25.9M | ||
| Q3 25 | $-123.1M | $-7.0M | ||
| Q2 25 | $-52.6M | $-3.1M | ||
| Q1 25 | — | $19.8M | ||
| Q4 24 | $-39.4M | $-12.6M | ||
| Q3 24 | $-19.2M | $-12.7M | ||
| Q2 24 | $-26.6M | $-13.7M | ||
| Q1 24 | — | $28.2M |
| Q4 25 | $-83.3M | $-26.8M | ||
| Q3 25 | $-127.2M | $-7.4M | ||
| Q2 25 | $-53.8M | $-3.6M | ||
| Q1 25 | — | $19.0M | ||
| Q4 24 | $-43.0M | $-13.1M | ||
| Q3 24 | $-23.0M | $-13.2M | ||
| Q2 24 | $-34.1M | $-14.4M | ||
| Q1 24 | — | $26.7M |
| Q4 25 | -134.6% | -25.9% | ||
| Q3 25 | -319.1% | -9.8% | ||
| Q2 25 | -259.8% | -4.5% | ||
| Q1 25 | — | 12.8% | ||
| Q4 24 | -367.4% | -11.5% | ||
| Q3 24 | -185.3% | -15.2% | ||
| Q2 24 | -299.3% | -15.7% | ||
| Q1 24 | — | 16.1% |
| Q4 25 | 14.2% | 0.9% | ||
| Q3 25 | 10.4% | 0.6% | ||
| Q2 25 | 5.8% | 0.7% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | 30.7% | 0.4% | ||
| Q3 24 | 30.4% | 0.5% | ||
| Q2 24 | 65.8% | 0.8% | ||
| Q1 24 | — | 0.9% |
| Q4 25 | -0.10× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.51× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.79× |
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% |
TBHC
Segment breakdown not available.
