QBTS or IONQ: Which Quantum Computing Stock Will Lead in 2026? - Yahoo Finance

QBTS or IONQ: Which Quantum Computing Stock Will Lead in 2026? Urmimala Biswas December 26, 2025 5 min read QBTS +2.81% IONQ +3.37% ^GSPC +1.02% As 2026 approaches, D-Wave Quantum Inc. QBTS and IonQ IONQ present distinct investment narratives in the burgeoning quantum computing sector. In 2025, D-Wave’s official disclosures show strong commercial momentum, including robust third-quarter results with revenue and gross profit more than doubling year over year and cash balances hitting record highs, alongside product and business expansions such as hybrid quantum technology showcases and new U.S. government-focused business units. IonQ, on the other hand, reported gains through strategic partnerships and deployments, such as finalizing delivery of its 100-qubit Tempo system to South Korea’s KISTI and expanding long-term collaborations in Europe, reinforcing global market penetration. QBTS stock has surged 227.6% year to date, far outpacing IONQ’s 19.2% gain, the broader Internet-Software industry’s10.4% rise, the Computer and Technology sector’s 27.7% rally and the S&P 500’s 20% increase, reflecting divergent investor sentiment ahead of 2026 due to differences in near-term commercial execution. Let’s find out how things are shaping up for 2026. QBTS: IONQ: YTD Stock Performances Zacks Investment Research Image Source: Zacks Investment Research Case for QBTS Commercial Scaling of Advantage2 and Hybrid Quantum Apps: QBTS enters 2026 with commercially deployed, production-grade systems. The Advantage2 system is already operational for enterprise and government users, including Davidson Technologies (U.S. defense), Julich Supercomputing Center, and a €10 million European installation scheduled to contribute revenues starting in 2026. Real-world proofs-of-concept with BASF, Japan Tobacco, North Wales Police, airlines, banks and semiconductor foundries demonstrate measurable performance gains over classical computing, supporting customer expansion, system sales and recurring QCaaS revenues. Management emphasized a strong pipeline with larger average deal sizes and over $100 million in annual QCaaS revenue capacity, positioning 2026 as a monetization year rather than pure R&D. Financial Strength and Path Toward Profitability: QBTS closed the third quarter of 2025 with over $836 million in cash, minimal near-term financing risk, and improving gross margins, driven by high-margin system sales and upgrades. Unlike peers reliant on government R&D funding, QBTS’s three-pillar revenue model (QCaaS, professional services, system sales) supports operating leverage as utilization rises. Management explicitly stated a focus on becoming the first independent public quantum company to achieve sustained profitability. Story Continues View Comments Terms and Privacy Policy Privacy Dashboard