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Side-by-side financial comparison of IonQ, Inc. (IONQ) and TSS, Inc. (TSSI). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $60.9M, roughly 1.0× TSS, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs 20.0%, a 1197.8% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 21.8%). TSS, Inc. produced more free cash flow last quarter ($15.8M 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.
IONQ vs TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $60.9M |
| Net Profit | $753.7M | $12.2M |
| Gross Margin | — | 17.6% |
| Operating Margin | -369.4% | 1.5% |
| Net Margin | 1217.8% | 20.0% |
| Revenue YoY | 428.5% | 21.8% |
| Net Profit YoY | 473.1% | 535.7% |
| EPS (diluted) | $2.60 | $0.44 |
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 | $60.9M | ||
| Q3 25 | $39.9M | $41.9M | ||
| Q2 25 | $20.7M | $44.0M | ||
| Q1 25 | — | $99.0M | ||
| Q4 24 | $11.7M | $50.0M | ||
| Q3 24 | $12.4M | $70.1M | ||
| Q2 24 | $11.4M | $12.2M | ||
| Q1 24 | — | $15.9M |
| Q4 25 | $753.7M | $12.2M | ||
| Q3 25 | $-1.1B | $-1.5M | ||
| Q2 25 | $-176.8M | $1.5M | ||
| Q1 25 | — | $3.0M | ||
| Q4 24 | $-202.0M | $1.9M | ||
| Q3 24 | $-52.5M | $2.6M | ||
| Q2 24 | $-37.6M | $1.4M | ||
| Q1 24 | — | $15.0K |
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 17.8% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 11.3% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | -369.4% | 1.5% | ||
| Q3 25 | -423.5% | -2.2% | ||
| Q2 25 | -776.0% | 5.1% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | -661.9% | 0.0% | ||
| Q3 24 | -428.5% | 5.4% | ||
| Q2 24 | -430.0% | 14.0% | ||
| Q1 24 | — | 1.6% |
| Q4 25 | 1217.8% | 20.0% | ||
| Q3 25 | -2646.3% | -3.6% | ||
| Q2 25 | -854.5% | 3.4% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | -1725.0% | 3.8% | ||
| Q3 24 | -423.4% | 3.8% | ||
| Q2 24 | -330.0% | 11.5% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | $2.60 | $0.44 | ||
| Q3 25 | $-3.58 | $-0.06 | ||
| Q2 25 | $-0.70 | $0.06 | ||
| Q1 25 | — | $0.12 | ||
| Q4 24 | $-0.95 | $0.08 | ||
| Q3 24 | $-0.24 | $0.10 | ||
| Q2 24 | $-0.18 | $0.06 | ||
| Q1 24 | — | $0.00 |
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 | $85.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $76.6M |
| Total Assets | $6.6B | $184.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | $85.5M | ||
| Q3 25 | $1.1B | $70.7M | ||
| Q2 25 | $546.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $340.3M | $23.2M | ||
| Q3 24 | $365.7M | $46.4M | ||
| Q2 24 | $369.8M | $8.3M | ||
| Q1 24 | — | $14.4M |
| Q4 25 | $3.8B | $76.6M | ||
| Q3 25 | $2.3B | $63.4M | ||
| Q2 25 | $1.2B | $9.5M | ||
| Q1 25 | — | $9.4M | ||
| Q4 24 | $383.9M | $7.1M | ||
| Q3 24 | $435.7M | $7.7M | ||
| Q2 24 | $463.3M | $5.2M | ||
| Q1 24 | — | $3.7M |
| Q4 25 | $6.6B | $184.9M | ||
| Q3 25 | $4.3B | $165.4M | ||
| Q2 25 | $1.3B | $139.5M | ||
| Q1 25 | — | $113.5M | ||
| Q4 24 | $508.4M | $96.6M | ||
| Q3 24 | $497.9M | $67.3M | ||
| Q2 24 | $517.4M | $28.9M | ||
| Q1 24 | — | $26.8M |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $-83.3M | $15.8M |
| FCF MarginFCF / Revenue | -134.6% | 25.9% |
| Capex IntensityCapex / Revenue | 14.2% | 0.9% |
| Cash ConversionOCF / Net Profit | -0.10× | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-307.3M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-74.5M | $16.3M | ||
| Q3 25 | $-123.1M | $-18.4M | ||
| Q2 25 | $-52.6M | $16.3M | ||
| Q1 25 | — | $20.6M | ||
| Q4 24 | $-39.4M | $-21.6M | ||
| Q3 24 | $-19.2M | $38.6M | ||
| Q2 24 | $-26.6M | $-4.3M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | $-83.3M | $15.8M | ||
| Q3 25 | $-127.2M | $-24.9M | ||
| Q2 25 | $-53.8M | $5.4M | ||
| Q1 25 | — | $5.8M | ||
| Q4 24 | $-43.0M | $-28.4M | ||
| Q3 24 | $-23.0M | $38.6M | ||
| Q2 24 | $-34.1M | $-6.0M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | -134.6% | 25.9% | ||
| Q3 25 | -319.1% | -59.3% | ||
| Q2 25 | -259.8% | 12.3% | ||
| Q1 25 | — | 5.8% | ||
| Q4 24 | -367.4% | -56.7% | ||
| Q3 24 | -185.3% | 55.1% | ||
| Q2 24 | -299.3% | -49.4% | ||
| Q1 24 | — | 16.4% |
| Q4 25 | 14.2% | 0.9% | ||
| Q3 25 | 10.4% | 15.3% | ||
| Q2 25 | 5.8% | 24.8% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | 30.7% | 13.4% | ||
| Q3 24 | 30.4% | 0.1% | ||
| Q2 24 | 65.8% | 13.8% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | -0.10× | 1.34× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 11.02× | ||
| Q1 25 | — | 6.93× | ||
| Q4 24 | — | -11.32× | ||
| Q3 24 | — | 14.60× | ||
| Q2 24 | — | -3.09× | ||
| Q1 24 | — | 176.40× |
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% |
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
