The allure of quantum computing stocks has gripped investors. IonQ (NYSE: IONQ), which has surged 78% this year, now commands a $25 billion valuation despite generating less than $100 million in revenue. Such figures suggest a bet on an uncertain future rather than a proven business model. This is not investment; it is speculation dressed as opportunity.
Two companies, however, are building tangible value. Remitly Global (RELY) and Portillo’s (PTLO) are not chasing theoretical breakthroughs. They operate in the present, delivering measurable results. Their growth trajectories, though less flashy, are far more reliable than the vaporous promises of quantum technology.
Remitly’s disruptive opportunity
Remitly’s shares have fallen 42% from 2025 highs, a decline that coincides with heightened scrutiny of U.S. immigration policies. Critics argue this may curb cross-border payments to Latin America, a core market. Yet the company’s financials tell a different story. Revenue grew 34% year-over-year last quarter, with send volumes up 40%. Its low fees and user-friendly app continue to erode the dominance of legacy firms like Western Union.
Profitability, once a distant goal, is now within reach. With $1.46 billion in revenue, Remitly generated $27 million in EBIT. This contrasts starkly with IonQ, which remains unprofitable and reliant on perpetual losses. The disparity is not merely financial-it is a testament to the difference between innovation and illusion.
Portillo’s expansion plans
Portillo’s, a Chicago-based restaurant chain, faces headwinds from a broader decline in dining expenditures. Yet its strategy of gradual expansion-targeting Texas, Florida, and other markets-remains sound. With 100 locations planned by year-end, the brand has ample room to grow. Its $65 million in EBIT on $728 million in revenue underscores a stable, profitable model.
IonQ, by contrast, reports $53 million in revenue but suffers a $351 million loss. The $25 billion valuation it commands defies logic. Portillo’s may not surpass this figure in five years, but its financial health ensures a more sustainable path. The market, for all its enthusiasm, has lost sight of fundamentals.
Investors would do well to favor companies that deliver value today over those that promise it tomorrow. Remitly and Portillo’s offer clarity; IonQ offers a mirage. The choice, though unexciting, is clear.
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2025-10-13 07:22