IonQ has introduced its Q2 2024 monetary outcomes. A fast abstract of some key monetary metrics evaluating Q2 2024 versus Q1 2024 and the 12 months in the past quarter of Q2 2023 is proven within the chart beneath.

IonQ had a robust second quarter with revenues of $11.4 million, considerably above their earlier forecast of $7.6 to $9.2 million. Additionally they confirmed $9.0 million in bookings. Their earlier forecast for bookings was $75 to $95 million for the total 12 months. To date, they’ve achieved $9.3 million for the primary half, so they may want sturdy bookings within the second half of 2024 to satisfy their earlier forecasted vary. However the firm continued to reiterate their earlier $75 to $95 million 2024 bookings purpose within the newest press launch. The corporate additionally raised its full 12 months 2024 income forecast by $1 million to $38 to $42 million from the earlier $37 to $41 million. Additionally they forecast income expectations of between $9 and $12 million for the third quarter. As we now have indicated earlier than, each bookings and income might be fairly lumpy in corporations the place the quarterly numbers are extremely dependent upon the timing of bigger offers.

The corporate achieved plenty of technical highlights in latest months together with reaching a 99.9% 2-qubit gate constancy in checks of its subsequent era barium based mostly qubits, a brand new partial error correction approach for Clifford quantum gates, and an up to date roadmap with programs offering 100 logical qubits by the tip of 2025.

On the industrial facet, they’re beginning a brand new analysis venture with the U.S. Naval Analysis Lab to check molecular constructions affecting corrosion, a new program with the Applied Research Laboratory for Intelligence and Security (ARLIS) to design a networked system for blind quantum computing. they usually additionally prolonged their earlier contract with Amazon Internet Companies to offer entry to their programs by means of Amazon Braket.

And on the operations facet, their factory in Bothell, Washington is in operation and has began building of two Forte Enterprise system. They’ve additionally began closing meeting of a Forte Enterprise system for QuantumBasel in Switzerland.

Extra details about the corporate’s monetary outcomes might be discovered within the Q2 2024 monetary press launch here, a recording of the administration webcast reviewing the outcomes here, and an August 2024 Investor Replace presentation here.

August 7, 2024