Yahoo Finance·2026-03-14 21:40Core Insights - D-Wave Quantum and IonQ reported contrasting earnings, highlighting different strategies in the quantum computing market [2][3] Financial Performance - D-Wave's Q4 revenue was $2.75 million, missing consensus by 27.63%, while full-year 2025 revenue reached $24.59 million, up 179% year-over-year [3][6] - IonQ's Q4 revenue was $61.89 million, exceeding consensus by 53.73%, with full-year 2025 revenue at $130.02 million, a 202% increase year-over-year [3][6] - IonQ became the first public quantum company to surpass $100 million in annual GAAP revenue [3][6] Bookings and Guidance - D-Wave's Q4 bookings surged to $13.4 million, with January 2026 bookings exceeding $30 million [3][6] - IonQ provided 2026 revenue guidance of $225 million to $245 million [4][6] Market Position and Strategy - D-Wave focuses on monetizing near-term optimization solutions for enterprise customers, with over 135 customers including 70+ commercial enterprises [5][6] - IonQ is pursuing a full-stack platform strategy, acquiring SkyWater Technology to control its own chip foundry and building national quantum networks [6] Cash Position and Market Capitalization - D-Wave has a cash position of $635 million and a market cap of $6.4 billion [4] - IonQ holds $1.03 billion in cash and has a market cap of $11.7 billion [4] Technology Development - D-Wave is expanding into gate-model computing, targeting a 17-qubit system in 2026, scaling to 49 qubits in 2027 and 181 in 2028 [5]