Updated
Updated · The Motley Fool · Jul 3
Analyst Backs IonQ Over QCi for 2026 After $130 Million Revenue Outpaced $682,000
Updated
Updated · The Motley Fool · Jul 3

Analyst Backs IonQ Over QCi for 2026 After $130 Million Revenue Outpaced $682,000

3 articles · Updated · The Motley Fool · Jul 3

Summary

  • $130 million in 2025 revenue versus QCi’s $682,000 drove the analyst’s 2026 preference for IonQ, despite both companies remaining deeply unprofitable.
  • IonQ grew revenue 201.9% year over year, sells trapped-ion systems through cloud partners including Amazon and Microsoft, and posted a $510.4 million net loss with negative $299.6 million free cash flow.
  • QCi’s 82.8% revenue growth came off a tiny base, and its recent Q1 jump to $3.7 million from $39,000 was attributed mainly to the Luminar Semiconductor acquisition rather than clear customer traction.
  • Both companies had no meaningful debt, but IonQ traded at a far lower price-to-sales multiple of 147.6x versus QCi’s 1,887.4x, while each faces execution risks tied to acquisitions and scaling.
  • IonQ still carries major hurdles, including antitrust scrutiny of its $1.8 billion SkyWater deal and 22% short interest, underscoring how early and volatile the quantum computing market remains.

Insights

Is customer revenue or national strategy the key to winning the quantum computing race?
Does selling access to today's quantum machines secure a future against those building the factories?