Ionq Q1 2023 Earnings Report
Key Takeaways
IonQ reported a strong start to the year with revenue of $4.3 million, exceeding the high end of the previously provided range. The company achieved its 2023 technical target of 29 algorithmic qubits (#AQ) seven months ahead of schedule and increased its full year revenue outlook to $18.8 million to $19.2 million.
Revenue for the first quarter was $4.3 million, exceeding the high end of the previously provided range.
Achieved $4.1 million in new bookings for the first quarter.
Cash, cash equivalents and investments were $525.5 million as of March 31, 2023.
Reached 29 #AQ on IonQ Forte, achieving the company’s most significant 2023 technical goal seven months ahead of schedule.
Ionq
Ionq
Forward Guidance
For the second quarter of 2023, IonQ expects revenue of between $4.1 million and $4.5 million. For the full year 2023, IonQ is increasing its revenue outlook range to $18.8 million to $19.2 million. For the full year 2023, IonQ is reiterating its previously stated bookings range of $38 million to $42 million.