Quantum computing stocks have undergone a sharp valuation reset, with IonQ, D-Wave Quantum, and Rigetti Computing all trading down significantly year to date despite strong operational progress. IonQ posted record Q1 revenue of $64.7 million, up 755% year over year, and raised full-year guidance to a range of $260 to $270 million, yet its stock fell 21% in a single week in early June and trades near $57. D-Wave Quantum, which is the only dual-platform quantum company building both annealing and gate-model systems, reported Q1 revenue of $2.9 million but closed bookings of $33.4 million, a 1,994% year-over-year surge, including a $20 million system sale to Florida Atlantic University and a $10 million quantum-computing-as-a-service deal with a Fortune 100 company. Rigetti Computing posted Q1 2026 revenue of just $4.4 million and holds over $569 million in cash, but its thin revenue base makes valuation difficult. Among the three, D-Wave is highlighted as offering exceptional value because its stock, down roughly 20% year to date at around $23 per share, appears to be pricing in skepticism while ignoring strong booking momentum and near-term commercial traction.
IONQ Inc
D-Wave Quantum Inc. Common Stock
Quantinuum Inc. Class A Common Stock
Rigetti Computing Inc
Honeywell International Inc