Quantum Computing (QUBT) Will Report Q4 Earnings on March 2. Here’s What to Expect - TipRanks
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Welcome all to Thursday’s crypto-risk">update on quantum computing. As 2026 moves forward, the tone in the sector is shifting again. Revenue growth is now real, yet dilution, valuation, and defense ties are shaping the trade just as much as lab progress. This update covers strong results from IonQ, fresh data on institutional ownership, and a major push in Europe toward networked systems.Claim 50% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potentialLet us begin.1. IonQ Tops $100 million in Revenue and Expands Defense ReachWe start with IonQ IONQ -6.14% ▼ , which reported $130 million in full year 2025 revenue, up 202% year-over-year. This makes IonQ the first public quantum firm to surpass $100 million in annual GAAP revenue. Fourth quarter revenue reached $61.9 million, up 429% from a year ago and well above prior guidance. Chairman and CEO Niccolo de Masi said, “Our strategic evolution into the world’s only full-stack quantum platform company, and strong organic growth, positions us with continued momentum to achieve $235 million in revenue for 2026, at our current guidance midpoint.”However, IonQ still posted a full-year net loss of $510.4 million, and it expects an adjusted EBITDA loss of $310 million to $330 million in 2026 as it scales.In addition, IonQ has secured access to compete for work under the Missile Defense Agency’s SHIELD program, which carries a ceiling of up to $151 billion across many vendors. While that does not mean guaranteed revenue, it does strengthen IonQ’s role in U.S. defense work.2.
Institutions Trim Stakes as Valuation Stays HighNext, new 13F filings show that institutional ownership in IonQ, Rigetti Computing RGTI -6.55% ▼ , and D-Wave Quantum QBTS -6.75% ▼ fell in the fourth quarter. IonQ’s institutional stake slipped to 54.71% from 57.35% in the prior quarter. Rigetti and D-Wave saw similar declines.However, the picture is more nuanced. In IonQ’s case, total shares held by institutions actually rose, yet the percentage fell after the company completed a roughly $2 billion equity offering that expanded the share count. As a result, dilution remains part of the story for quantum firms that are still funding growth through stock sales.Valuation also plays a role. At points over the past year, these companies have traded at price-to-sales ratios above 30. For firms that are not yet profitable, such levels can prompt portfolio rebalancing. Therefore, the recent dip in ownership looks more like caution after strong stock gains than a broad exit from the theme.3.
Europe Pushes Networked Quantum with Pasqal and WelinqMeanwhile, in Europe, Pasqal and Welinq expanded their tie-up to build networked quantum systems based on neutral-atom processors. The effort includes a €4 million project backed by the France 2030 program. The goal is to link separate quantum units via optical connections so they can function as a single larger system within data centers.Pasqal already operates quantum units at major research hubs in Europe and abroad, while Welinq focuses on quantum memory and photon links. Pasqal CEO Loic Henriet said, “Quantum networking represents a promising pathway toward large-scale fault-tolerant quantum computing.” In simple terms, rather than building a single large machine, the firms aim to connect many smaller ones. This approach could help address scale limits and support future commercial use.We used TipRanks’ Comparison Tool to line up IonQ, Rigetti, D-Wave Quantum, and other notable quantum stocks. Revenue growth is picking up, yet losses and dilution remain key watch points. At the same time, defense demand and data center plans show that quantum is moving beyond pure lab work. Now, it is about how fast these firms can grow into their valuation while managing cash and share count along the way.