IonQ (Trapped-Ion) vs D-Wave Quantum (Quantum Annealing) — live market, SEC financial and quantum-hardware data side by side.
IONQ leads this data snapshot on 4 of the five headline market, financial, runway, return and dilution measures with comparable data. The better investment still depends on valuation, technology execution and risk tolerance.
IONQ is the larger company at $15.03B market cap, about 2.8× the size of QBTS ($5.43B).
IONQ reports more revenue ($130.02M vs $24.59M for QBTS, latest fiscal year).
On cash runway — the metric that decides who needs to raise money first — QBTS is stronger (59mo vs 56mo).
They take different technical paths: IONQ reports 36 qubits (Physical Qubits (Trapped-Ion, All-to-All Connectivity)), while QBTS reports 5,627 qubits (Physical Qubits (Quantum Annealing, Pegasus topology)) — raw counts are not directly comparable across modalities.
Momentum = 1Y return · Scale = market cap · Runway capped at 36mo · Gov $ = federal awards · Research = citations + patents. Dollar axes use log scale.
Is IONQ or QBTS the bigger company?
IONQ is larger, with a market cap of $15.03B versus $5.43B for QBTS.
Which has the longer cash runway, IONQ or QBTS?
IONQ's cash runway is 56mo and QBTS's is 59mo (current cash ÷ trailing-twelve-month operating burn; "CF+" means cash-flow positive).
What technology do IONQ and QBTS use?
IonQ (IONQ): Physical Qubits (Trapped-Ion, All-to-All Connectivity). D-Wave Quantum (QBTS): Physical Qubits (Quantum Annealing, Pegasus topology). Qubit counts are not directly comparable across different modalities.