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Side-by-side financial comparison of Quantum Computing Inc. (QUBT) and Rafael Holdings, Inc. (RFL). Click either name above to swap in a different company.
Rafael Holdings, Inc. is the larger business by last-quarter revenue ($240.0K vs $198.0K, roughly 1.2× Quantum Computing Inc.). Quantum Computing Inc. runs the higher net margin — -785.9% vs -4090.0%, a 3304.1% gap on every dollar of revenue. On growth, Quantum Computing Inc. posted the faster year-over-year revenue change (219.4% vs 87.5%). Over the past eight quarters, Quantum Computing Inc.'s revenue compounded faster (99.0% CAGR vs 85.2%).
Rigetti Computing, Inc. is a Berkeley, California-based developer of superconducting quantum integrated circuits used for quantum computers. Rigetti also develops a cloud platform called Forest that enables programmers to write quantum algorithms.
Rafael Advanced Defense Systems Ltd. is an Israeli defense technology company. It was founded as Israel's National R&D Defense Laboratory for the development of weapons and military technology within the Israeli Ministry of Defense; in 2002 it was incorporated as a limited company.
QUBT vs RFL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $198.0K | $240.0K |
| Net Profit | $-1.6M | $-9.8M |
| Gross Margin | -49.5% | — |
| Operating Margin | -11220.2% | -4225.4% |
| Net Margin | -785.9% | -4090.0% |
| Revenue YoY | 219.4% | 87.5% |
| Net Profit YoY | 97.0% | -9.0% |
| EPS (diluted) | $0.03 | $-0.19 |
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 | $198.0K | $240.0K | ||
| Q3 25 | $384.0K | — | ||
| Q2 25 | $61.0K | — | ||
| Q4 24 | $62.0K | — | ||
| Q3 24 | $101.0K | $165.0K | ||
| Q2 24 | $183.0K | $336.0K | ||
| Q1 24 | — | $68.0K | ||
| Q4 23 | $75.0K | $68.0K |
| Q4 25 | $-1.6M | $-9.8M | ||
| Q3 25 | $2.4M | — | ||
| Q2 25 | $-36.5M | — | ||
| Q4 24 | $-51.2M | — | ||
| Q3 24 | $-5.7M | $-4.5M | ||
| Q2 24 | $-5.2M | $-32.4M | ||
| Q1 24 | — | $6.0M | ||
| Q4 23 | $-6.6M | $-3.6M |
| Q4 25 | -49.5% | — | ||
| Q3 25 | 32.8% | — | ||
| Q2 25 | 42.6% | — | ||
| Q4 24 | 54.8% | — | ||
| Q3 24 | 8.9% | — | ||
| Q2 24 | 31.7% | 74.7% | ||
| Q1 24 | — | — | ||
| Q4 23 | 13.3% | — |
| Q4 25 | -11220.2% | -4225.4% | ||
| Q3 25 | -2709.4% | — | ||
| Q2 25 | -16673.8% | — | ||
| Q4 24 | -14375.8% | — | ||
| Q3 24 | -5384.2% | -2330.3% | ||
| Q2 24 | -2878.1% | -27726.5% | ||
| Q1 24 | — | -4622.1% | ||
| Q4 23 | -8772.0% | -3644.1% |
| Q4 25 | -785.9% | -4090.0% | ||
| Q3 25 | 620.3% | — | ||
| Q2 25 | -59806.6% | — | ||
| Q4 24 | -82640.3% | — | ||
| Q3 24 | -5618.8% | -2707.9% | ||
| Q2 24 | -2838.3% | -9628.3% | ||
| Q1 24 | — | 8892.6% | ||
| Q4 23 | -8836.0% | -5350.0% |
| Q4 25 | $0.03 | $-0.19 | ||
| Q3 25 | $0.01 | — | ||
| Q2 25 | $-0.26 | — | ||
| Q4 24 | $-0.53 | — | ||
| Q3 24 | $-0.06 | $-0.19 | ||
| Q2 24 | $-0.06 | $-1.36 | ||
| Q1 24 | — | $0.25 | ||
| Q4 23 | $-0.09 | $-0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.1B | $45.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.6B | $85.2M |
| Total Assets | $1.6B | $105.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $45.5M | ||
| Q3 25 | $555.6M | — | ||
| Q2 25 | $348.8M | — | ||
| Q4 24 | $78.9M | — | ||
| Q3 24 | $3.1M | $2.7M | ||
| Q2 24 | $2.5M | $7.4M | ||
| Q1 24 | — | $7.1M | ||
| Q4 23 | $2.1M | $13.2M |
| Q4 25 | $1.6B | $85.2M | ||
| Q3 25 | $877.9M | — | ||
| Q2 25 | $396.0M | — | ||
| Q4 24 | $107.3M | — | ||
| Q3 24 | $60.4M | $82.2M | ||
| Q2 24 | $65.5M | $86.1M | ||
| Q1 24 | — | $104.9M | ||
| Q4 23 | $68.7M | $98.2M |
| Q4 25 | $1.6B | $105.4M | ||
| Q3 25 | $898.2M | — | ||
| Q2 25 | $426.1M | — | ||
| Q4 24 | $153.6M | — | ||
| Q3 24 | $76.8M | $96.8M | ||
| Q2 24 | $76.0M | $101.6M | ||
| Q1 24 | — | $106.1M | ||
| Q4 23 | $74.4M | $95.5M |
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 | $-11.0M | $-6.8M |
| Free Cash FlowOCF − Capex | $-12.2M | — |
| FCF MarginFCF / Revenue | -6147.5% | — |
| Capex IntensityCapex / Revenue | 583.8% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-37.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.0M | $-6.8M | ||
| Q3 25 | $-8.7M | — | ||
| Q2 25 | $-6.1M | — | ||
| Q4 24 | $-3.8M | — | ||
| Q3 24 | $-4.6M | $-2.9M | ||
| Q2 24 | $-4.0M | $-251.0K | ||
| Q1 24 | — | $-2.5M | ||
| Q4 23 | $-5.0M | $-2.1M |
| Q4 25 | $-12.2M | — | ||
| Q3 25 | $-11.5M | — | ||
| Q2 25 | $-7.1M | — | ||
| Q4 24 | $-6.6M | — | ||
| Q3 24 | $-5.1M | — | ||
| Q2 24 | $-5.1M | $-375.0K | ||
| Q1 24 | — | — | ||
| Q4 23 | $-5.0M | — |
| Q4 25 | -6147.5% | — | ||
| Q3 25 | -3000.3% | — | ||
| Q2 25 | -11683.6% | — | ||
| Q4 24 | -10709.7% | — | ||
| Q3 24 | -5040.6% | — | ||
| Q2 24 | -2782.0% | -111.6% | ||
| Q1 24 | — | — | ||
| Q4 23 | -6693.3% | — |
| Q4 25 | 583.8% | — | ||
| Q3 25 | 723.2% | — | ||
| Q2 25 | 1678.7% | — | ||
| Q4 24 | 4622.6% | — | ||
| Q3 24 | 508.9% | — | ||
| Q2 24 | 588.5% | 36.9% | ||
| Q1 24 | — | — | ||
| Q4 23 | 70.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | -3.67× | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.42× | ||
| Q4 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
