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Side-by-side financial comparison of IonQ, Inc. (IONQ) and Vitesse Energy, Inc. (VTS). Click either name above to swap in a different company.
IonQ, Inc. is the larger business by last-quarter revenue ($61.9M vs $58.6M, roughly 1.1× Vitesse Energy, Inc.). IonQ, Inc. runs the higher net margin — 1217.8% vs -1.3%, a 1219.0% gap on every dollar of revenue. On growth, IonQ, Inc. posted the faster year-over-year revenue change (428.5% vs 4.8%).
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.
Vitesse Energy, Inc. is a U.S.-headquartered independent energy company focused on exploration, development, and production of oil and natural gas assets. It operates primarily in high-potential onshore basins including North Dakota's Williston Basin, serving domestic and global upstream energy market demand.
IONQ vs VTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.9M | $58.6M |
| Net Profit | $753.7M | $-739.0K |
| Gross Margin | — | — |
| Operating Margin | -369.4% | -12.0% |
| Net Margin | 1217.8% | -1.3% |
| Revenue YoY | 428.5% | 4.8% |
| Net Profit YoY | 473.1% | 85.6% |
| EPS (diluted) | $2.60 | $-0.01 |
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 | $58.6M | ||
| Q3 25 | $39.9M | $67.4M | ||
| Q2 25 | $20.7M | $81.8M | ||
| Q1 25 | — | $66.2M | ||
| Q4 24 | $11.7M | $55.9M | ||
| Q3 24 | $12.4M | $58.3M | ||
| Q2 24 | $11.4M | $66.6M | ||
| Q1 24 | — | $61.2M |
| Q4 25 | $753.7M | $-739.0K | ||
| Q3 25 | $-1.1B | $-1.3M | ||
| Q2 25 | $-176.8M | $24.7M | ||
| Q1 25 | — | $2.7M | ||
| Q4 24 | $-202.0M | $-5.1M | ||
| Q3 24 | $-52.5M | $17.4M | ||
| Q2 24 | $-37.6M | $10.9M | ||
| Q1 24 | — | $-2.2M |
| Q4 25 | -369.4% | -12.0% | ||
| Q3 25 | -423.5% | 0.2% | ||
| Q2 25 | -776.0% | 22.8% | ||
| Q1 25 | — | 8.1% | ||
| Q4 24 | -661.9% | 3.7% | ||
| Q3 24 | -428.5% | 15.4% | ||
| Q2 24 | -430.0% | 25.2% | ||
| Q1 24 | — | 21.4% |
| Q4 25 | 1217.8% | -1.3% | ||
| Q3 25 | -2646.3% | -1.9% | ||
| Q2 25 | -854.5% | 30.2% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | -1725.0% | -9.2% | ||
| Q3 24 | -423.4% | 29.9% | ||
| Q2 24 | -330.0% | 16.4% | ||
| Q1 24 | — | -3.6% |
| Q4 25 | $2.60 | $-0.01 | ||
| Q3 25 | $-3.58 | $-0.03 | ||
| Q2 25 | $-0.70 | $0.60 | ||
| Q1 25 | — | $0.08 | ||
| Q4 24 | $-0.95 | $-0.15 | ||
| Q3 24 | $-0.24 | $0.53 | ||
| Q2 24 | $-0.18 | $0.33 | ||
| Q1 24 | — | $-0.07 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.8B | $629.3M |
| Total Assets | $6.6B | $893.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.4B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $546.9M | — | ||
| Q1 25 | — | $4.5M | ||
| Q4 24 | $340.3M | $3.0M | ||
| Q3 24 | $365.7M | — | ||
| Q2 24 | $369.8M | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.8B | $629.3M | ||
| Q3 25 | $2.3B | $650.3M | ||
| Q2 25 | $1.2B | $671.9M | ||
| Q1 25 | — | $667.7M | ||
| Q4 24 | $383.9M | $500.3M | ||
| Q3 24 | $435.7M | $520.4M | ||
| Q2 24 | $463.3M | $518.5M | ||
| Q1 24 | — | $522.7M |
| Q4 25 | $6.6B | $893.4M | ||
| Q3 25 | $4.3B | $932.9M | ||
| Q2 25 | $1.3B | $951.5M | ||
| Q1 25 | — | $975.2M | ||
| Q4 24 | $508.4M | $810.9M | ||
| Q3 24 | $497.9M | $791.2M | ||
| Q2 24 | $517.4M | $778.4M | ||
| Q1 24 | — | $749.7M |
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 | $37.4M |
| 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 | $37.4M | ||
| Q3 25 | $-123.1M | $49.4M | ||
| Q2 25 | $-52.6M | $66.0M | ||
| Q1 25 | — | $17.5M | ||
| Q4 24 | $-39.4M | $34.7M | ||
| Q3 24 | $-19.2M | $45.7M | ||
| Q2 24 | $-26.6M | $35.2M | ||
| Q1 24 | — | $39.4M |
| 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 | — | 2.68× | ||
| Q1 25 | — | 6.56× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.62× | ||
| Q2 24 | — | 3.22× | ||
| 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% |
VTS
| Oil Reserves | $54.5M | 93% |
| Natural Gas Reserves | $4.2M | 7% |
