Back to today’s briefing

Story perspectives

IonQ Outshines D-Wave with Surging Q2 Revenue

10/27/2025

44 10 Full Breakdown

Summary

Story summary

D-Wave Quantum Inc. posted Q2 sales of $3.1 million and operating expenses of $28.5 million.
IonQ, Inc. generated $20.7 million in Q2 revenue, up from $11.4 million the prior year, despite a $160.6 million operating loss.
Both companies have conducted significant equity offerings to sustain operations.
Analysts consider IonQ the better investment due to higher sales and broader technology applicability.

History

Historical Context

In 2000, the U.S. government allocated $3.7 billion to quantum computing research, fostering the growth of companies like D-Wave, founded in 1999, and IonQ. D-Wave's D-Wave One, launched in 2011, was the first commercially available quantum computer. Despite significant advancements, including IonQ's $20.7 million revenue in Q2 2023, both companies face ongoing financial challenges in the evolving quantum sector.

1 of 2

Story summary

D-Wave Quantum Inc. posted Q2 sales of $3.1 million and operating expenses of $28.5 million.
IonQ, Inc. generated $20.7 million in Q2 revenue, up from $11.4 million the prior year, despite a $160.6 million operating loss.
Both companies have conducted significant equity offerings to sustain operations.
Analysts consider IonQ the better investment due to higher sales and broader technology applicability.

1 / 2