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IonQ Inc | 8-K: IonQ Announces Fourth Quarter and Full Year 2023 Financial Results

SEC ·  Feb 28 16:14

Summary by Moomoo AI

IonQ Inc., a leader in quantum computing, reported its financial results for the fourth quarter and full fiscal year ended December 31, 2023, on February 28, 2024. The company announced a revenue of $6.1 million for the quarter and $22.0 million for the year, marking a 98% annual growth and exceeding the high end of their financial outlook. Bookings for the year reached $65.1 million, a 166% annual growth, also surpassing expectations. IonQ's cash, cash equivalents, and investments totaled $455.9 million as of year-end. The net loss for the quarter was $41.9 million, with an Adjusted EBITDA loss of $20.0 million, while the full year saw a net loss of $157.8 million and an Adjusted EBITDA loss of $77.7 million. The company also announced the appointment of Robert Cardillo and William Francis...Show More
IonQ Inc., a leader in quantum computing, reported its financial results for the fourth quarter and full fiscal year ended December 31, 2023, on February 28, 2024. The company announced a revenue of $6.1 million for the quarter and $22.0 million for the year, marking a 98% annual growth and exceeding the high end of their financial outlook. Bookings for the year reached $65.1 million, a 166% annual growth, also surpassing expectations. IonQ's cash, cash equivalents, and investments totaled $455.9 million as of year-end. The net loss for the quarter was $41.9 million, with an Adjusted EBITDA loss of $20.0 million, while the full year saw a net loss of $157.8 million and an Adjusted EBITDA loss of $77.7 million. The company also announced the appointment of Robert Cardillo and William Francis Scannell to its Board of Directors, both recognized as independent directors. IonQ achieved significant technical milestones, including reaching #AQ 35 in December 2023 and #AQ 36 in January 2024, indicating a doubling of computational space. The company also made progress on photonic interconnects for networking quantum processing units (QPUs). Commercially, IonQ began construction on its first production-class IonQ Forte Enterprise systems and announced the availability of IonQ Forte through Amazon Braket Direct. The company's 2024 financial outlook projects revenue between $37.0 million and $41.0 million, with bookings anticipated between $70 million and $90 million, and an Adjusted EBITDA loss of $110.5 million for the full year. IonQ will participate in an upcoming investor conference and has provided a reconciliation of GAAP to non-GAAP financial measures at the end of the release.

This announcement is a separate document:

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