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Mar 31, 2022
Ionq Q1 2022 Earnings Report
IonQ reported first quarter 2022 financial results, with revenue of $2.0 million and bookings of $4.2 million.
Key Takeaways
IonQ announced its Q1 2022 financial results, reporting a revenue of $2.0 million and bookings of $4.2 million. The company also announced IonQ Forte, a new ytterbium-based system.
Recognized revenue of $2.0 million for the first quarter.
Achieved bookings of $4.2 million for the first quarter.
Cash, cash equivalents and investments were $586.4 million as of March 31, 2022.
Net loss was $4.2 million and adjusted EBITDA loss was $10.3 million.
Forward Guidance
For the second quarter of 2022, IonQ is expecting revenue of between $2.3 and $2.5 million and bookings of between $3.0 and $5.0 million. For the full year 2022, IonQ has reiterated the previously stated revenue outlook range of $10.2 million to $10.7 million and has increased its total contract bookings expectations from a range of $20.0 to $24.0 million to a new range of $23.0 to $27.0 million.
Positive Outlook
- Expecting revenue of between $2.3 and $2.5 million for Q2 2022.
- Expecting bookings of between $3.0 and $5.0 million for Q2 2022.
- Reiterated full year 2022 revenue outlook range of $10.2 million to $10.7 million.
- Increased total contract bookings expectations for full year 2022 to a range of $23.0 to $27.0 million.
- One or two system sales could push combined TCV contract bookings over nine figures for the three-year period from 2021 to 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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