Both IonQ <\/strong>(IONQ<\/a> 4.48%<\/span>)<\/span> and D-Wave Quantum <\/strong>(QBTS<\/a> 4.01%<\/span>)<\/span> are artificial intelligence (AI) stocks trying to stand out in the quantum computing<\/a> field. Despite their relatively smaller sizes, both companies have made commercially related breakthroughs in quantum computing, making it worthwhile to compare the two companies.<\/p>\n Investors should also keep in mind that they seek to carve a niche in their fields from quantum computing giants such as Google parent Alphabet <\/strong>or IBM<\/strong>. As they work to stand out in their potentially lucrative but competitive industries, one may stand out as a more suitable holding for most investors.<\/p>\n Image source: Getty Images.<\/p>\n<\/div>\n IonQ calls itself the “world’s leading quantum computing company” and appears to back up that claim with breakthroughs such as electronic qubit control systems. IonQ achieved record-breaking “two-qubit gate fidelity,” helping it run quantum algorithms with higher complexity while limiting error rates. High error rates have plagued this industry, so such improvements can translate into a competitive advantage.<\/p>\n Moreover, quantum computing has begun as more of a research tool. However, IonQ’s hardware has become more prevalent in working to solve problems for companies. To that end, companies ranging from Microsoft<\/strong> to AstraZeneca<\/strong> work with IonQ.<\/p>\n Financially speaking, IonQ continues to run net losses, though that is not unique to other smaller AI-related companies. Not surprisingly, it also reported a negative free cash flow<\/a> of $216 million in the first nine months of 2025.<\/p>\n To that end, it diluted its shares recently, taking the number of shares higher by 59% over the last year. That likely led to both increases and declines for IonQ stock<\/a>, resulting in gains of around 10% over the previous 12 months.<\/p>\n Today’s Change<\/p>\n (-4.48%) $-1.79<\/p>\n Current Price<\/p>\n $38.19<\/p>\n<\/div>\n<\/div>\n<\/div>\n Market Cap<\/p>\n $14B<\/p>\n Day’s Range<\/p>\n $38.00 – $40.69<\/p>\n 52wk Range<\/p>\n $17.88 – $84.64<\/p>\n Volume<\/p>\n 612K<\/p>\n Avg Vol<\/p>\n 21M<\/p>\n Gross Margin<\/p>\n -747.41%<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n Fortunately, with close to $1.1 billion in liquidity, the company can maintain its current financial pace for a few years without having to take on more debt or issue more shares to stay in business, and that may give IonQ bulls some relief.<\/p>\n It is hard to evaluate IonQ through valuation metrics. As a money-losing company, it has no P\/E ratio, and its price-to-sales (P\/S) ratio<\/a> of around 130 means its sales multiple bears no relation to its revenue levels. Nonetheless, its price-to-book ratio<\/a> of 7 could give investors an excuse to buy the stock at current levels.<\/p>\n Investors may also notice that similar attributes and challenges apply to D-Wave Quantum. The company calls itself the “practical quantum computing company,” and true to that name, it focuses on leveraging quantum technology to help enhance generative AI and other applications.<\/p>\n D-Wave Quantum stood out by making breakthroughs in multiplexing, which enhances chip communication, and bump bonding, a process that stacks a control chip onto a quantum processing qubit chip.<\/p>\n These advancements foster the ability to run applications while keeping bits at a cool temperature, enhancing their functionality. Such breakthroughs have helped it secure partnerships with companies like Volkswagen<\/strong> and Mastercard<\/strong>, confirming the commercial appeal of its offerings.<\/p>\n Still, like IonQ, D-Wave Quantum is far from turning a profit. This means it depends heavily on outside capital, and to that end, it reported $56 million in negative free cash flow in the first nine months of 2025. Also, the company raised its outstanding share count by 20% over the last year.<\/p>\n Fortunately, the stock is up by nearly 400% over the last year despite the share dilution. Also, considering its $836 million in liquidity and $56 million in negative free cash flow for the first three quarters of 2025, D-Wave Quantum is unlikely to run out of money anytime soon.<\/p>\nThe case for IonQ<\/h2>\n
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Why investors might consider D-Wave Quantum<\/h2>\n
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