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Sep 30, 2024
Ionq Q3 2024 Earnings Report
IonQ exceeded revenue guidance and secured significant bookings, advancing its position in quantum computing and networking.
Key Takeaways
IonQ reported a strong third quarter, exceeding the high end of its revenue guidance with $12.4 million, representing a 102% year-over-year growth. The company secured $63.5 million in new bookings, including a $54.5 million contract with the United States Air Force Research Lab. IonQ also announced a definitive agreement to acquire Qubitekk and a partnership with AstraZeneca.
IonQ's third-quarter revenue reached $12.4 million, surpassing the high end of guidance and marking a 102% year-over-year increase.
The company secured $63.5 million in new bookings during the third quarter, including a major contract with the United States Air Force Research Lab worth $54.5 million.
IonQ is set to acquire Qubitekk, enhancing its leadership in quantum networking.
A partnership with AstraZeneca was announced to develop quantum applications for drug discovery.
Forward Guidance
IonQ raised its full year 2024 revenue expectations to between $38.5 million and $42.5 million and reiterating its previously stated bookings range of between $75 million and $95 million.
Positive Outlook
- Raising full year revenue expectations to between $38.5 million and $42.5 million.
- Reiterating previously stated bookings range of between $75 million and $95 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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