Archive note · corrected
Quantum valuation claims: reported revenue is not a verified price-to-sales snapshot
A dated correction preserves period-specific company disclosures while withdrawing unsupported multiples, creator counts and scenario returns.
What changed in this article
Editorial correction · 9 September 2026. The original article was published on 17 February 2026 and stated that IonQ, Rigetti and D-Wave traded at approximately 143x, 860x and 305x sales. It did not preserve the market-cap numerator, share-count vintage, price timestamp, currency, trailing-revenue denominator or calculation output behind that snapshot. The stated N=149 posts, 28 creators and N=9 filings likewise have no supplied item-level register. Those multiples, samples, scenario returns, AST comparison and practical position-size/valuation thresholds are withdrawn. The original URL and publication date remain unchanged.
This is a dated evidence correction, not a current quantum-stock valuation or investment recommendation.
What the primary company records establish
| Company record | Period or release date | Dated fact | Boundary |
|---|---|---|---|
| IonQ Q3 2025 results | 5 November 2025; quarter ended 30 September 2025 | IonQ described Q3 revenue as 222% higher year over year and said it exceeded the high end of its revenue guidance by 37%. | Company-reported period information; it is not a February 2026 market-cap-to-revenue calculation. |
| Rigetti Q3 2025 results | 10 November 2025; quarter ended 30 September 2025 | Rigetti reported $1.9 million of total revenue and $558.9 million of cash and investments. | The reported quarter and balance-sheet date must be paired with a specifically dated market input before any multiple is calculated. |
| D-Wave Q3 2025 results | 6 November 2025; quarter ended 30 September 2025 | D-Wave reported Q3 revenue up 100% year over year and year-to-date revenue up 235%. | Growth percentages describe company-reported comparisons; they do not establish a stock return, fair value or a peer multiple. |
These facts show why the denominator matters. Revenue period, revenue definition, market-cap date, share count and currency all need to line up before a price-to-sales figure is meaningful. The available records do not reconstruct the original page's 13 February 2026 snapshot.
What is withdrawn
The 143x/860x/305x valuation table, the N=149/N=28 creator audit, the N=9 filing sample, the “next AI” commercialization conclusion, the +260% AST comparison, the scenario-return grid and all “avoid,” sizing, stop and threshold language are not verified findings. They are not replaced with current multiples or a new forecast.
The article's underlying question can remain historical: how should a reader compare a frontier-technology narrative with reported revenue and cash runway? A defensible answer would first freeze the information set and then show the arithmetic, rather than infer valuation from a headline or a later price.
Minimum register for a future valuation or narrative study
For each company, record the exchange and currency; exact close timestamp and price source; basic or diluted shares and the share-count date; market-cap calculation; revenue period and GAAP/non-GAAP definition; trailing or forward denominator; filing/release identifier; creator/post URL and capture timestamp; inclusion and exclusion rules; scenario assumptions; and independent calculation output. Report samples at the item level and do not mix a historical snapshot with later knowledge.
Original publication: 17 February 2026. Correction: 9 September 2026. AI-assisted source checking and writing; no independent human expert review. This page is educational market research, not personalized investment advice.