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IQMX vs BTQ: Which Quantum Stock Is Better?

IQM Quantum Computers (Superconducting) vs BTQ Technologies (Quantum Security) — live market, SEC financial and quantum-hardware data side by side.

IQMX is the larger company at $2.82B market cap, about 5.9× the size of BTQ ($477.88M).

IQMX reports more revenue ($36.82M vs $230.19K for BTQ, latest fiscal year).

On cash runway — the metric that decides who needs to raise money first — IQMX is stronger (31mo vs 7mo).

They take different technical paths: IQMX reports 54 qubits (Physical Qubits (Superconducting Transmon)), while BTQ reports its qubit count (Software-Defined (Neutral-Atom Emulation & Control)) — raw counts are not directly comparable across modalities.

IQMX vs BTQ Performance (% return, all start at 0%)
1/272/263/274/285/286/29-50%-25%+0%+25%+50%
IQMX+3.2%BTQ-18.0%
MetricIQMXIQM Quantum ComputersBTQBTQ Technologies
Market
Price$10.75$3.33
Market Cap$2.82B$477.88M
1Y Return+5.8%—
52W High$15.10$16.00
52W Low$9.62$2.09
Financials
Revenue (latest FY)$36.82M$230.19K
Revenue YoY+90.6%-52.7%
Net Income-$63.91M-$17.95M
Cash & Equivalents$172.19M$8.75M
Cash Runway31mo7mo
Risk
Going Concern FlagNoNo
ATM Offerings (dilution)11
Daily Short Vol %55.5%51.2%
Beta (1Y vs SPY)0.201.81
Government & Research
Federal Awards Total——
Academic Citations——
Patents——
Quantum Technology
Physical Qubits54—
Qubit ModalityPhysical Qubits (Superconducting Transmon)Software-Defined (Neutral-Atom Emulation & Control)
2Q Gate Fidelity99.5%—
Cloud PlatformsIQM Resonance (cloud access), On-premises systems (IQM Spark, IQM Radiance)MIMIQ (cloud and on-premises), SDT QuREKA, aQCess digital twin
Roadmap TargetFault-tolerant quantum computing targeted by 2030, scaling through 150- and 300-qubit Radiance-class systems with error-corrected logical qubitsDeploy the aQCess digital twin as the 400+ qubit platform comes online; QLU v1 targeted for mid-2027; expand MIMIQ/QLU integrations across neutral-atom hardware
Company
Founded20182021
HeadquartersEspoo, FinlandVancouver, BC, Canada
Employees380—
Company DNA0–100 rank vs all tracked stocks · missing data = 0
MomentumScaleRevenueRunwayGov $Research

Momentum = 1Y return · Scale = market cap · Runway capped at 36mo · Gov $ = federal awards · Research = citations + patents. Dollar axes use log scale.

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IQMX vs BTQ FAQ

Is IQMX or BTQ the bigger company?

IQMX is larger, with a market cap of $2.82B versus $477.88M for BTQ.

Which has the longer cash runway, IQMX or BTQ?

IQMX's cash runway is 31mo and BTQ's is 7mo (current cash ÷ trailing-twelve-month operating burn; "CF+" means cash-flow positive).

What technology do IQMX and BTQ use?

IQM Quantum Computers (IQMX): Physical Qubits (Superconducting Transmon). BTQ Technologies (BTQ): Software-Defined (Neutral-Atom Emulation & Control). Qubit counts are not directly comparable across different modalities.

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