IonQ Leads 3 Quantum Stocks Into Q2 Earnings as $470 Million Backlog Tops Rivals
Updated
Updated · Yahoo Finance · Jul 30
IonQ Leads 3 Quantum Stocks Into Q2 Earnings as $470 Million Backlog Tops Rivals
3 articles · Updated · Yahoo Finance · Jul 30
Summary
Aug. 5-6 earnings from IonQ, Rigetti and D-Wave set up a near-term test, with the analysis ranking IonQ as the strongest stock prospect for the rest of 2026.
IonQ posted $64.7 million in Q1 revenue—up 755% year over year—held $3.1 billion in cash and short-term investments, and carried $470 million in remaining performance obligations, signaling demand still exceeds recognized sales.
D-Wave ranked second because its Leap cloud service offers a clearer recurring-revenue path: Q1 revenue was $2.9 million, it signed a $10 million two-year Leap deal, and more than half of its 100-plus customers were commercial.
Rigetti placed third despite the cleanest balance sheet—$569 million in cash and no debt—because Q1 revenue was only $4.4 million and remains heavily tied to one-off hardware sales to universities and government labs.
All three remain long-duration, high-volatility bets: none is expected to self-fund from revenue for years, making execution on backlog, cloud subscriptions and product roadmaps critical into 2027.