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Sep 30, 2023
Ionq Q3 2023 Earnings Report
IonQ reported third quarter results with revenue above expectations and increased full year outlooks.
Key Takeaways
IonQ's third quarter results showed strong revenue growth, exceeding the high end of the previously provided range, and significant bookings, contributing to achieving the $100 million cumulative bookings goal ahead of schedule. The company also announced a major deal with AFRL and unveiled new quantum computer architectures.
IonQ's revenue for the third quarter was $6.1 million, representing a 122% increase year-over-year.
The company achieved $26.3 million in new bookings for the third quarter.
IonQ reached its goal of $100 million in cumulative bookings within the first three years of commercialization.
A new $25.5 million deal was announced with AFRL for quantum networking research and development.
Ionq
Ionq
Forward Guidance
IonQ increased its full year 2023 revenue outlook range to $21.2 million to $22.0 million and its bookings expectation range to between $60.0 million to $63.0 million.
Positive Outlook
- Increased revenue outlook range for the full year 2023 to $21.2 million - $22.0 million.
- Increased bookings expectation range for the full year 2023 to $60.0 million - $63.0 million.
- Expected revenue for the fourth quarter of 2023 to be between $5.3 million and $6.1 million.
- Achieved $100 million in cumulative bookings within the first three years of commercialization.
- Announced a $25.5 million deal with AFRL.