The Zacks Analyst Blog Highlights IonQ, Rigetti Computing, D-Wave Quantum and IBM

For Immediate Release

Chicago, IL – October 14, 2025 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: IonQ IONQ, Rigetti Computing RGTI, D-Wave Quantum QBTS and IBM IBM.

Here are highlights from Monday’s Analyst Blog:

Investing in Quantum Ahead of Q3 Earnings Season

Throughout the third quarter of 2025, the large quantum firms mainly highlighted three core themes in their official announcements. Liquidity and runway remained a central focus. IonQ, Rigetti Computing and D-Wave Quantum each completed substantial equity offerings during June and July, strengthening their cash reserves amid rising R&D and commercialization costs. These financings were intended to extend operating runways and reassure investors that execution plans remain well supported.

On the technology front, vendors emphasized tangible progress. Rigetti announced the general availability of its 36-qubit multi-chip quantum computer, while IBM deployed its Quantum System Two at Japan’s RIKEN research center, the first installation outside the United States. Xanadu unveiled an on-chip, error-resistant photonic qubit, signaling continued innovation in scalable architectures.

Commercial partnerships also gained momentum. Quantinuum disclosed new strategic collaborations and IBM highlighted its hybrid computing initiatives linking quantum and classical systems. Such alliances suggest an emerging commercial layer where research institutions and enterprises begin testing early quantum applications in optimization and materials science.

For investors, quantum computing in mid-2025 represents a long-term capital play, where steady engineering advances, rather than short-term earnings, define meaningful progress. As Q3 earnings season approaches, all eyes are on pure-plays like IONQ, RGTI and QBTS to gauge how these strategic efforts are translating into commercial traction.

Stock Comparison During Q3: IONQ, RGTI, QBTS

IonQ: In the third quarter of 2025, IonQ is likely to continue its trajectory of strong topline growth with heavy reinvestment, rather than profitability. The company already raised $1.0 billion in July via an equity offering (executed at a premium) to bolster its cash reserves and support an aggressive deployment and acquisition strategy.

Further, IonQ is expanding its technology portfolio by completing the acquisition of Oxford Ionics (announced September 2025) and by entering a definitive agreement to acquire Vector Atomic, enhancing its quantum sensing and positioning, navigation and timing (PNT) capabilities. Technically, IonQ has already hit a major milestone. In September, it announced that its Tempo system achieved #AQ 64, a performance benchmark three months ahead of schedule.

Per the Zacks Consensus Estimate, the company is expected to report a loss of 24 cents per share for the third quarter of 2025, unchanged year over year. The same for revenues is pegged at $27.02 million, a 117.9% expected improvement from the year-ago period. The stock carries a Zacks Rank #3 (Hold).

IonQ, Inc. price-eps-surprise | IonQ, Inc. Quote
Rigetti: In the third quarter of 2025, Rigetti is likely to have continued trading modest near-term revenue growth against elevated investment and technical execution risk. In the last-reported second quarter, the company generated only $1.8 million in revenue and recorded a net loss of $39.7 million, though it bolstered its balance sheet via a $350 million equity raise, leaving it with $571.6 million in cash and no debt. Post-second quarter, Rigetti secured $5.7 million in purchase orders for two quantum systems (announced Sept 30).

On the technology side, Rigetti has already released Cepheus-1-36Q, its 36-qubit multi-chip system (GA in Q2) with improved two-qubit gate fidelity (99.5%) and reduced error rates. Given these dynamics, third-quarter revenue is likely to have inched up from the second quarter, possibly driven by the newly booked system orders and modest expansions in cloud or partner deployments.

Per the Zacks Consensus Estimate, Rigetti is expected to report a loss of 5 cents per share for the third quarter 2025, an expected improvement of 37.5% from the year-ago period. The same for revenues is pegged at $2.39 million, a 0.4% expected improvement from the year-ago period. RGTI also carries a Zacks Rank #3.

Rigetti Computing, Inc. price-eps-surprise | Rigetti Computing, Inc. Quote

D-Wave: In the third quarter of 2025, D-Wave Quantum appears positioned to sustain operational momentum while deploying its record liquidity base toward accelerated R&D and commercialization. Following a strong second quarter marked by a 42% year-over-year increase in revenues and an expanded cash position of $819 million, the company enters the back half of 2025 with clear visibility on both technical and go-to-market fronts.

The second quarter’s launch of the Advantage2 quantum computer, a commercial-grade annealing system delivering double coherence time and 40% higher energy scale, is expected to have contributed to the third-quarter topline. Concurrently, new partnerships with Yonsei University and Incheon Metropolitan City in South Korea, alongside customer engagements with E.ON, GE Vernova, Nikon, NTT Data and the University of Oxford, highlight an expanding commercial footprint spanning energy, manufacturing and research sectors.

Per the Zacks Consensus Estimate, D-Wave is expected to report a loss of 7 cents per share for the third quarter 2025, an expected improvement of 36.4% from the year-ago period. The same for revenues is pegged at $3.12 million, a 66.8% expected improvement from the year-ago period. QBTS also carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

D-Wave Quantum Inc. price-eps-surprise | D-Wave Quantum Inc. Quote

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