The Defiance Quantum ETF (QTUM) recorded a 42% return over the past year, significantly outperforming the S&P 500’s 12.3%. Key contributors to this surge include IonQ, Inc. (IONQ), which rose by 409.7%, and D-Wave Quantum Inc. (QBTS), which skyrocketed by 1,447.4%. This performance comes amid a tumultuous year for the stock market.
IonQ reported first-quarter revenues of $7.6 million and projects full-year revenues of $75 million to $95 million for 2024, while narrowing its non-GAAP loss to $0.14. In contrast, D-Wave’s revenues for the same period reached $15 million—a 509% increase—with $304.3 million in cash to sustain operations. Both companies are on the path to profitability, but their strategies differ, with IonQ focusing on ion trap architecture and D-Wave on quantum annealing technologies.
IonQ’s price-to-sales (P/S) ratio stands at 212.84, compared to D-Wave’s 240.66, making IonQ relatively less expensive. Analysts suggest IonQ may lead the quantum computing field, supported by a strong portfolio of 950 patents and strategic acquisitions.
