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IonQ Announces their Third Quarter Financial Results

Quantum Computing Report 16 days ago


IonQ announced their third quarter financial results and indicated they are on-track for meeting their previous full year 2022 estimates for both revenue and bookings. The revenue in Q3 was $2.8 million, up from the previous $2.6 million they reported in Q2. Bookings in Q3 were $16.4 million which includes the $13.4 million dollar contract that we reported on in September . Adjusted EBITDA loss was $13.4 million which is an increase from Q2’s $11.6 million. And cash, cash equivalents, and investment at the end of the quarter was $555.8 million, a decrease from $571.3 million at the end of Q2. In other news, the company announced that it has improved the performance of their Aria processor from #AQ 23 to #AQ 25 Algorithmic Qubits (AQ) . The AQ performance benchmark is used internally by IonQ for measuring their performance, but has not yet been picked up by any other hardware manufacturer so it is hard to make comparisons. The company also announced a partnership with Dell Technologies to offer end users a hybrid quantum platform based upon Dell PowerEdge servers along with Dell software that can integrate with and utilize IonQ’s quantum computers for hybrid classical/quantum computations. Additional information about IonQ’s third quarter results can be seen in their earning announcement located here .


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