IonQ showed continued growth in revenue achieving $3.8 million in the fourth quarter versus $2.8 million in the third quarter and $1.6 million in the fourth quarter of 2021. For the full year, they achieved a total of $11.1 million versus $2.1 million in 2021. Bookings in 2022 were at $24.5 million portending more growth in 2023 with an estimate of revenue between $18.4 to $18.8 million for the full year. Net loss in Q4 came in at $18.6 million versus $23.9 million in Q3 and $74 million in Q4 2021. For the full year the company showed a loss of $48.5 million versus a loss of $106 million in 2021. The company ended the year with $537 million in cash, cash equivalents, and investments compared to $603 million at the end of 2021. The company is benefiting from the large infusions of cash it received from its SPAC merger in October 2021.

The company also summarized key commercial and technical highlights for the year including the acquisition of Entangled Networks, plans to construct a quantum computing manufacturing center in Bothell, Washington, improvements in the performance of their Aria processor to achieve an Algorithmic Qubit level of 25, and several customer collaborations including those with Hyundai Motors, Accenture, and the Irish Centre for High End Computing.

A press release announcing IonQ’s financial results has been posted on their website here and a replay of their Fourth Quarter and Full Year 2022 Earnings Call can be accessed by filling out a registration form here.

March 31, 2023